Is it Hard to Get a Credit Card After I’ve Retired?

Is it Hard to Get a Credit Card After I’ve Retired?


One of the many benefits of retirement is the freedom to pursue your interests. All the hard work you put into working during your younger years has set you up for a comfortable post-work life. But there are still a few boxes to check before you retire if you want to truly enjoy your time. After all, many things change during retirement, including your income and the things you may choose to purchase or invest in. So before you retire, set yourself up with as many options as possible. One way to do so would be to secure your dream credit card before signing off on employment. While it takes a bit of future planning, you can make your future a whole lot easier to navigate.

Spending Habits Before and After Retirement

Retirement presents a significant change in the way people think and go about spending. Post-retirement means less money spent on driving, tolls, eating out for lunch, and even work trips. You may want to focus on smaller items or save up for extravagant vacations. This alters your spending habits, making owning a credit card much different than when you were a full-time worker. 

The key to managing this would be to consider the life you want post-retirement and find a card that enhances that. For most people, it means securing a travel rewards card or a card that provides extra perks for flying, international purchases, or other expenditures. It may also mean focusing on cards that offer benefits for grocery shopping or other necessities that you may concentrate more on without the hassle of working in the way.

Get a Card Before Your Income Changes

Your income level can have a drastic impact on what cards you qualify for. If you want a larger credit line to balance out your credit utilization rate or if you want to increase your odds of getting accepted for a card, look for one before your income changes. Maximizing every dollar you have is essential when you retire, even if you’ve had a flawless retirement planning experience. Getting a card before your income changes can set you up for success and remove the stress associated with missing out on a valuable card to aid your retirement goals.

Make Sure You Have a Credit Card in Your Name Before Retirement

Many people use the credit card of their spouse, but you shouldn’t take that risk post-retirement. In the event of your partner's passing, you won’t be able to use their card unless you have a joint account. These days, joint accounts are becoming less and less popular, meaning you should secure your own set of cards before retirement. Having a credit card can help you manage funeral costs, rising bill requirements, and miscellaneous expenses related to your retirement lifestyle.

Have Retirement Goals? Let Stolz & Associates, P.S. Guide You Down the Right Path

Retirement introduces a new set of challenges for you and your spouse or family to navigate. So why let them all pile up when you can get ahead of the curve and stay there? Make things easier on yourself with the experienced retirement planning professionals at Stolz & Associates, P.S. We’ll analyze your credit and current cards and take your goals into consideration to help you decide what credit cards are best for you. Contact us today to speak to our team or pair our retirement advice with wealth management support and fully prepare for the future ahead.


This presentation is not an offer or a solicitation to buy or sell securities. The information contained in this presentation has been compiled from third-party sources and is believed to be reliable; however, its accuracy is not guaranteed and should not be relied upon in any way whatsoever. This presentation may not be construed as investment, tax or legal advice and does not give investment recommendations. Any opinion included in this report constitutes our judgment as of the date of this report and is subject to change without notice.