Age limit for credit cards

hannah0101

Credit card eligibility criteria states that you must be 18 years+ to apply. Are there any providers that have an age limit?
There are some mortgage / loans that have age limits but I'm not sure if this exists for credit cards?

[Deleted User]

Yes - but it varies across lenders.

System

Each lender will have their own criteria is all anyone can answer to this question. worth asking a lender before you apply to them. I would GUESS that some credit cards will have age limits and some wont.

Terry_Towelling

I don't know whether age-discrimination law would prevent a lender from imposing a maximum age. If it did, I would expect most lenders to hide any limit by simply declining applications from older people and not giving the true reason.

System

Terry_Towelling wrote: »

I don't know whether age-discrimination law would prevent a lender from imposing a maximum age.

No it wouldn't.

Otherwise 5 year olds could get credit cards and drive cars.

Ebe_Scrooge

beany_bot wrote: »

No it wouldn't.

Otherwise 5 year olds could get credit cards and drive cars.

I think you're getting confused between minimum and maximum age limits. Legally you have to be at least 18 years old to enter into a credit agreement. The question here is more about whether a lender can impose an upper age limit - for instance, could they arbitrarily refuse anyone over the age of 65 ?

I suspect the answer to that is "no" - but they could refuse to issue a card on the basis that the applicant's income doesn't meet their own internal minimum requirements, or similar. Don't forget, no-one has an implicit right to a credit card, a lender is free to impose whatever criteria they choose, within the law. However, I would suspect that imposing a restriction based purely on age would fall foul of discrimination laws - in the same way as if they refused credit based purely on skin colour.

System

Ebe_Scrooge wrote: »

I think you're getting confused between minimum and maximum age limits. Legally you have to be at least 18 years old to enter into a credit agreement. The question here is more about whether a lender can impose an upper age limit - for instance, could they arbitrarily refuse anyone over the age of 65 ? I suspect the answer to that is "no"

Im not getting confused. And I disagree.
Of course lenders can apply maximum age limits. And they frequently do.
go try getting a 30 year mortgage at age 70 and see how you get on...

shortcrust

beany_bot wrote: »

Im not getting confused. And I disagree.
Of course lenders can apply maximum age limits. And they frequently do.
go try getting a 30 year mortgage at age 70 and see how you get on...

That's true, but they can't impose arbitrary age limits. They typically lend up to retirement age, so for me the longest term I could get was up to 68. It's not the same thing as them deciding on a whim not to lend past 60. That would fall foul of the law.

Edit to add: We've seen plenty of threads on here from people complaining that 'elderly' relatives were given credit in their 70s (and I think 80s). I'm also pretty sure I've read about specialist mortgage lenders that will lend well past 68.

System

shortcrust wrote: »

That's true, but they can't impose arbitrary age limits. They typically lend up to retirement age, so for me the longest term I could get was up to 68. It's not the same thing as them deciding on a whim not to lend past 60. That would fall foul of the law.

Why would it be "arbitrary" or "on a whim"?
They would simply have a policy of... Max age "75".
Simple. And quite legal, just the same as life insurance.

Terry_Towelling

beany_bot wrote: »

No it wouldn't.

Otherwise 5 year olds could get credit cards and drive cars.

Please read more carefully! My post said 'maximum'. I'm well aware of the minimum age for contract enforceability.

On top of that the thread is all about a maximum age for a credit card applications - where does car driving fit into any of that?

So, given that, can you now provide us with concrete evidence that CC providers do have T&Cs overtly prescribing a maximum age limit for applicants? I'm not saying they don't, but you seem fairly certain they do.

I remember my first credit card - I signed it in crayon and drove straight down to Mothercare for a stylish new rattle and romper suit - or at least I would have done but I couldn't reach the damn pedals.

shortcrust

beany_bot wrote: »

Why would it be "arbitrary" or "on a whim"?
They would simply have a policy of... Max age "75".
Simple. And quite legal, just the same as life insurance.

75 wouldn't be arbitrary though, would it? And life insurance is exempt from the age discrimination law (I think...). Perhaps mortgage lending is too. However, you have to have a rationale for a limit. Hence not arbitrary.