Should I let the CC companies know

Dunree

That I've retired??

I have a few cards which are mostly zero balances, and tbh, not used that much.

I get my pension now of around £1300 p/m, a significant drop on my previous salary.

I'm inclined to cancel most and keep one or two back for emergencies...

Any thoughts?

Dunree

boo_star

Entirely up to you, I doubt most care though.

Dunree

boo_star wrote: »

Entirely up to you, I doubt most care though.

Wouldn't they want to know about changes in circumstances?

Ben8282

I would not inform them of anything. You are under no obligation to do so.
As to cancelling, by all means cancel some if you have several but remember that it is very easy to cancel but it is not so easy to get back what you have cancelled if you later change your mind.

Biggles

I never told any of them. I think, as long as you continue to fulfill your requirements, like paying their bills, they don't care too much.

CLAPTON

Dunree wrote: »

That I've retired??

I have a few cards which are mostly zero balances, and tbh, not used that much.

I get my pension now of around £1300 p/m, a significant drop on my previous salary.

I'm inclined to cancel most and keep one or two back for emergencies...

Any thoughts?

Dunree

no there is no need to tell them you have retired : indeed what do you want them to do with the information?

best to keep at least two and use them occasional : one day you may want to rent a car or book a hotel or buy something on the internet where CC are very useful.

Dunree

Thanks folks,

I'll just cancel the higher interest ones and keep the high limit ones.

At least then there's always the cushion just in case it's needed.

Thank you for taking the time to reply

cooltt

Dunree wrote: »

That I've retired??

I have a few cards which are mostly zero balances, and tbh, not used that much.

I get my pension now of around £1300 p/m, a significant drop on my previous salary.

I'm inclined to cancel most and keep one or two back for emergencies...

Any thoughts?

Dunree

Congratulations on reaching retirement. I'd rack up a few holidays and spend spend spend. What they gonna do when you don't pay? Reposses your false teeth?

Screw them over like they do everyone else.

GingerBob_3

No need to tell them anything. It's none of their business. I'd be inclined to keep all your cards. Make sure you keep the low use ones ticking over with a minor purchase once every six months.

Biggles

Dunree wrote: »

I'll just cancel the higher interest ones and keep the high limit ones.

Make sure to keep at least one of the cards that don't charge foreign exchange loading, like Halifax Clarity or similar.

Robisere

I bet they know your birthdate, they usually have all your data and ID.

Have a happy retirement, but don't forget that 'fixed income' means just that. Not being a wet blanket, I'm 71 and have seen too many retirees forget the need to budget and there will be no more pay rises.