Age limit for credit cards

Terry_Towelling

An article in the Telegraph five years ago carried a story about older people accessing credit. The article said much but in particular:-

"The Telegraph contacted the major high street lenders to ask about their policy of lending to older customers. Each institution said there was no specified upper age limit for credit cards. Instead, the banks said, loan applications were assessed on affordability and credit history."

Potentially the biggest barrier that comes with age is meeting certain lenders' minimum income requirements (as mentioned by Ebe Scrooge) - pensions are often less than salaries.

System

shortcrust wrote: »

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.

...

So a credit card companies limit for not lending to a 100 year old could well be "Because there is a high chance they will die and not pay off the debt".
Exactly the same reason that a mortgage provider wont lend a 25 year mortgage to an 80 year old.

Terry_Towelling

Come on then @beany_bot, is there a maximum age limit for obtaining a credit card? If so, what is it?

We're not talking about reasons why giving credit to older borrowers might pose a greater risk to lenders, we're asking whether there is a maximum age limit for applying for a credit card.

If there is, would it also be acceptable for a provider to cancel a card when an existing holder reached the prescribed age?