Interest free credit card for pensioners

Nasqueron

grumpy_codger said:

Nasqueron said:

grumpy_codger said:

Nasqueron said:

grumpy_codger said:

I think the OP has credit cards from the past and just for some reason wants a new one offering 0% on purchases - not a big deal for a person with lot of savings.

ETA: some recent thread - Are credit card companies ageist/anti pensioners?

The issue is that savings are not included in affordability calculations as they could be spent tomorrow. Similarly with investments, some types like stock markets can crash the day before you need them as we have seen in the last few days.

What I meant was that a person with a lot of savings  and some other credit cards doesn't really need a new 0% credit card. It's good if they can get it, but not a big problem if they cannot.

The age, to an extent, is irrelevant, if they have guaranteed income like a final salary pension

Yes, to an extent, but people keep reporting problems. And, if a person dies, the debt remains while the pension, I think, stops. Does 'final salary' make any difference?

People can want to use 0% credit to make money and don't want to pay cash - savings might be tied into the market for example

People - maybe, but it's not the case for the OP. Hence my "not a big problem" for the OP who used to have normal CCs, but now was suggested to "benefit from ... even sub-prime card ".

"People" are not reporting problems, banks lend responsibly, they can use a pension as income, if you don't have income they won't lend.

I don't see any real difference between banks lending responsibly and people reporting difficulties with getting a CC as a result of these (understandable) policies.

Debts are paid from the estate, they die if the estate is insolvent, else after reasonable funeral costs, they have to be paid off.

People die, debts don't 'die'. They are written off; lenders make losses. And again, from the lenders' point of view, I don't see much difference between savings and estate. Both can be "spent tomorrow" (your words). 

I mean... this seems to be just having an argument for the sake, OP made it clear they used 0% cards and wanted to keep doing it

Your second point doesn't make any sense to me - banks have to be careful not to lend to people who can't afford to pay back

Your third point is even less clear - a pension (such as an inherited DB scheme) is nothing like savings - it's a regular income, like a job, you can only spend what you get in a month and lenders will offer limits based on risk profile; a card issued on the back of savings is not the same as the savings could all be taken out in a day.

Your anti-credit card view is well noted on this forum, people come to have advice on getting a card and using it well, if the advice to be offered is "I don't like credit cards so I don't think you should get one" it doesn't provide much assistance to the OP

grumpy_codger

Nasqueron said:

grumpy_codger said:

Nasqueron said:

grumpy_codger said:

Nasqueron said:

grumpy_codger said:

I think the OP has credit cards from the past and just for some reason wants a new one offering 0% on purchases - not a big deal for a person with lot of savings.

ETA: some recent thread - Are credit card companies ageist/anti pensioners?

The issue is that savings are not included in affordability calculations as they could be spent tomorrow. Similarly with investments, some types like stock markets can crash the day before you need them as we have seen in the last few days.

What I meant was that a person with a lot of savings  and some other credit cards doesn't really need a new 0% credit card. It's good if they can get it, but not a big problem if they cannot.

The age, to an extent, is irrelevant, if they have guaranteed income like a final salary pension

Yes, to an extent, but people keep reporting problems. And, if a person dies, the debt remains while the pension, I think, stops. Does 'final salary' make any difference?

People can want to use 0% credit to make money and don't want to pay cash - savings might be tied into the market for example

People - maybe, but it's not the case for the OP. Hence my "not a big problem" for the OP who used to have normal CCs, but now was suggested to "benefit from ... even sub-prime card ".

"People" are not reporting problems, banks lend responsibly, they can use a pension as income, if you don't have income they won't lend.

I don't see any real difference between banks lending responsibly and people reporting difficulties with getting a CC as a result of these (understandable) policies.

Debts are paid from the estate, they die if the estate is insolvent, else after reasonable funeral costs, they have to be paid off.

People die, debts don't 'die'. They are written off; lenders make losses. And again, from the lenders' point of view, I don't see much difference between savings and estate. Both can be "spent tomorrow" (your words). 

Your anti-credit card view is well noted on this forum, people come to have advice on getting a card and using it well, if the advice to be offered is "I don't like credit cards so I don't think you should get one" it doesn't provide much assistance to the OP

Noted by whom?  You are entitled to your opinion, but please, don't speak for other people. And no, my views aren't 'anti-credit' even in the slightest. 

I have several CCs and have been taking advantage of cashback and 0% offers over decades when I made thousands by stoozing, mainly in the past when fees for BTs were uncommon, but few hundreds recently as well.

However, it's a side hustle and I really don't understand why the OP, who has a lot of savings, was able to retire early, must have old CC(s) and finds a CC  handy only "when booking holidays etc to provide some comeback in the event of any problems" needs 0% and is upset by not being able to get it. Possibly, my opinion doesn't help the OP to get a new 0% CC, but it may help them to change their mindset.

With regard to my other points, I think I made them clear and don't want to waste my time on making them even more clear specially for you.

Nasqueron

grumpy_codger said:

Nasqueron said:

grumpy_codger said:

Nasqueron said:

grumpy_codger said:

Nasqueron said:

grumpy_codger said:

I think the OP has credit cards from the past and just for some reason wants a new one offering 0% on purchases - not a big deal for a person with lot of savings.

ETA: some recent thread - Are credit card companies ageist/anti pensioners?

The issue is that savings are not included in affordability calculations as they could be spent tomorrow. Similarly with investments, some types like stock markets can crash the day before you need them as we have seen in the last few days.

What I meant was that a person with a lot of savings  and some other credit cards doesn't really need a new 0% credit card. It's good if they can get it, but not a big problem if they cannot.

The age, to an extent, is irrelevant, if they have guaranteed income like a final salary pension

Yes, to an extent, but people keep reporting problems. And, if a person dies, the debt remains while the pension, I think, stops. Does 'final salary' make any difference?

People can want to use 0% credit to make money and don't want to pay cash - savings might be tied into the market for example

People - maybe, but it's not the case for the OP. Hence my "not a big problem" for the OP who used to have normal CCs, but now was suggested to "benefit from ... even sub-prime card ".

"People" are not reporting problems, banks lend responsibly, they can use a pension as income, if you don't have income they won't lend.

I don't see any real difference between banks lending responsibly and people reporting difficulties with getting a CC as a result of these (understandable) policies.

Debts are paid from the estate, they die if the estate is insolvent, else after reasonable funeral costs, they have to be paid off.

People die, debts don't 'die'. They are written off; lenders make losses. And again, from the lenders' point of view, I don't see much difference between savings and estate. Both can be "spent tomorrow" (your words). 

Your anti-credit card view is well noted on this forum, people come to have advice on getting a card and using it well, if the advice to be offered is "I don't like credit cards so I don't think you should get one" it doesn't provide much assistance to the OP

Noted by whom?  You are entitled to your opinion, but please, don't speak for other people. And no, my views aren't 'anti-credit' even in the slightest. 

I have several CCs and have been taking advantage of cashback and 0% offers over decades when I made thousands by stoozing, mainly in the past when fees for BTs were uncommon, but few hundreds recently as well.

However, it's a side hustle and I really don't understand why the OP, who has a lot of savings, was able to retire early, must have old CC(s) and finds a CC  handy only "when booking holidays etc to provide some comeback in the event of any problems" needs 0% and is upset by not being able to get it. Possibly, my opinion doesn't help the OP to get a new 0% CC, but it may help them to change their mindset.

With regard to my other points, I think I made them clear and don't want to waste my time on making them even more clear specially for you.

I don't feel there is anything further to be gained from a comment where your third paragraph directly contradicts your first. I will not respond to any further comments on here and I will follow MSE forum advice and block you.

grumpy_codger

I don't see any contradiction.
Again, you are entitled to your flawed opinion, but in my opinion telling someone that, given their circumstances and demands, they can happily live without a 0% credit card doesn't mean being "anti-credit"

Descrabled

I include all my income from all sources when I apply for any financial product. This includes interest from savings (helpfully recorded by HMRC), interest from ISAs, FIT, private pensions, and state pension. They're all legitimate income streams.