We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Age limit for credit cards
Options
Comments
-
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.0 -
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.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
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?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards