Credit Cards For Over Fifties
Are you over fifty and in need of a new credit card? You’re not alone. According to a recent survey, millions of Americans in the 50 to 64 age group have yet to switch their primary credit card. However, with a good credit score, this age group is attractive to credit card issuers. In this article, we will explore the best credit card options for individuals over the age of 50, focusing on cash back rewards, travel benefits, and low interest rates.
Key Takeaways:
- There are credit card options specifically designed for individuals over the age of 50.
- Consider cash back rewards, travel benefits, and low interest rates when choosing a credit card.
- Cards like the Citi Double Cash and American Express Blue Cash Preferred offer attractive cash back rewards.
- For travel enthusiasts, the Delta SkyMiles Gold and Chase Sapphire Preferred cards provide great benefits.
- If you carry a balance, look for cards like Chase Slate and American Express EveryDay with low interest rates.
Goal No. 1: You Want a No-Fuss Card and Cash Rewards
When it comes to credit cards, simplicity and cash rewards are often desired by many consumers, especially those over the age of 50. If you’re looking for a no-fuss card that offers valuable cash rebates, the Citi Double Cash card is an excellent choice. With this card, you can earn a 1% rebate on all purchases, and an additional 1% when you pay off your bill, making it a rewarding option for everyday expenses.
Another credit card to consider is the American Express Blue Cash Preferred. It not only provides cash back rewards but also offers various benefits tailored to your needs. With this card, you can enjoy 6% cash back on groceries and 3% cash back on gas purchases, making it particularly attractive for individuals who frequent supermarkets or travel by car frequently.
“The Citi Double Cash card is a no-fuss option that offers cash rewards, while the American Express Blue Cash Preferred provides great benefits for grocery shopping and gas purchases.” – Credit Card Expert
Choosing a credit card with cash rewards doesn’t have to be complicated. By opting for a no-fuss card like the Citi Double Cash or the American Express Blue Cash Preferred, you can enjoy the convenience of earning cash back while keeping your financial life simple and straightforward.
| Credit Card | Cash Back Rewards | Additional Benefits |
|---|---|---|
| Citi Double Cash | 1% on all purchases Additional 1% when bill is paid off |
No annual fee No category restrictions |
| American Express Blue Cash Preferred | 6% on groceries 3% on gas purchases |
$0 intro annual fee for the first year $250 statement credit after spending $3,000 in the first 6 months |
Goal No. 2: You want travel freebies
For individuals who enjoy traveling, having a credit card with travel rewards can be highly beneficial. Not only can you earn points or miles towards free flights, hotel stays, and car rentals, but many travel credit cards also offer additional perks such as airport lounge access, travel insurance, and concierge services.
When it comes to choosing the best travel credit card for individuals over the age of 50, there are several options to consider. One popular choice is the Delta SkyMiles Gold card. With this card, you can enjoy benefits such as free checked bags, priority boarding, and the ability to earn miles that can be redeemed for flights and other travel expenses. Plus, as a Delta SkyMiles member, you’ll have access to exclusive offers and discounts.
If you prefer to fly with United or Southwest, there are also co-branded credit cards available for these airlines. The United Explorer Card offers perks like free checked bags, priority boarding, and two United Club one-time passes per year. Meanwhile, the Southwest Rapid Rewards Plus card offers benefits such as priority boarding, accelerated earning on Southwest purchases, and 3,000 bonus points each year on your cardmember anniversary.
Table: Comparison of Travel Rewards Credit Cards
| Credit Card | Annual Fee | Travel Benefits | Introductory Bonus |
|---|---|---|---|
| Delta SkyMiles Gold | $99 (waived first year) | Free checked bags, priority boarding, miles earning | 70,000 bonus miles after spending $2,000 in the first 3 months |
| United Explorer Card | $95 | Free checked bags, priority boarding, United Club passes | 60,000 bonus miles after spending $3,000 in the first 3 months |
| Southwest Rapid Rewards Plus | $69 | Priority boarding, accelerated earning, anniversary bonus | 40,000 bonus points after spending $1,000 in the first 3 months |
Another excellent travel credit card option for individuals over 50 is the Capital One Venture Rewards card. This card offers flexibility in redeeming your miles, allowing you to book travel on any airline or hotel without blackout dates or restrictions. In addition, you can earn unlimited 2X miles on every purchase and enjoy a variety of travel benefits such as no foreign transaction fees and a $100 credit for Global Entry or TSA PreCheck.
Whether you’re a frequent flyer or someone who enjoys the occasional vacation, having a travel rewards credit card can enhance your travel experiences and help you save money. Consider your travel preferences, airline alliances, and desired benefits when selecting the best travel credit card for your needs.
Goal No. 3: You want to pay less interest
For individuals who carry a balance on their credit cards, finding a card with low interest rates is crucial. Fortunately, there are several options available that can help you minimize interest charges and pay off your debt more efficiently.
One of the top choices for low interest credit cards is the Chase Slate card. It offers zero-fee balance transfers and a 0% interest introductory period, allowing you to transfer your existing balances without incurring any fees and giving you a period of time to pay off your debt interest-free. This can be a great option for consolidating your credit card debt and saving money on interest charges.
Another card to consider is the American Express EveryDay card. It also offers zero-fee balance transfers and a 0% interest period, giving you the opportunity to pay down your debt without accumulating additional interest. Additionally, the card rewards you with Membership Rewards points on your purchases, making it a versatile option for earning rewards while managing your debt.
Comparison of Low Interest Credit Cards
| Credit Card | Balance Transfer | Introductory APR | Annual Fee |
|---|---|---|---|
| Chase Slate | Zero-fee | 0% for X months | $0 |
| American Express EveryDay | Zero-fee | 0% for X months | $0 |
When choosing a low interest credit card, it’s important to consider not only the introductory APR and balance transfer options but also the ongoing interest rates and any associated fees. Take the time to compare different cards and evaluate how they align with your financial situation and goals.
Best overall: Blue Cash Preferred® Card from American Express
The Blue Cash Preferred card from American Express is an excellent choice for individuals over the age of 50. It offers a variety of cash back rewards, making it ideal for everyday purchases. With this card, you can earn 6% cash back at U.S. supermarkets, 6% cash back on select streaming subscriptions, 3% cash back at U.S. gas stations, and 3% cash back on transit.
One of the standout features of the Blue Cash Preferred card is the $0 intro annual fee for the first year. Additionally, cardholders can receive a $250 statement credit after spending $3,000 in the first 6 months. These benefits provide great value for individuals looking to maximize their cash back rewards.
Whether you’re buying groceries, streaming your favorite shows, or commuting on public transportation, the Blue Cash Preferred card from American Express can help you earn rewards on your everyday expenses. With its generous cash back rates and valuable introductory offers, this card is a top choice for individuals looking to make the most of their credit card purchases.
To further illustrate the value of the Blue Cash Preferred card, we have compiled the following table to compare its benefits and features:
| Feature | Blue Cash Preferred® Card |
|---|---|
| Cash Back at U.S. Supermarkets | 6% |
| Cash Back on Select Streaming Subscriptions | 6% |
| Cash Back at U.S. Gas Stations | 3% |
| Cash Back on Transit | 3% |
| Annual Fee | $0 intro annual fee for the first year, then $95 |
| Introductory Offer | $250 statement credit after spending $3,000 in the first 6 months |
With its impressive cash back rates, attractive introductory offers, and valuable rewards, the Blue Cash Preferred card from American Express is the best overall credit card for individuals over the age of 50 who are looking to maximize their cash back rewards.
Best for those who plan to travel: Chase Sapphire Preferred® Card
If you’re someone who loves to travel, the Chase Sapphire Preferred card is the perfect choice for you. This credit card offers an array of travel rewards and benefits that will enhance your travel experiences. With its generous points system and valuable perks, it’s no wonder why this card is popular among frequent travelers.
When you use the Chase Sapphire Preferred card to book travel through Chase Ultimate Rewards, you earn 5X points per dollar spent. This means that every travel purchase you make will bring you one step closer to your next adventure. Additionally, you’ll earn 3X points on dining and select streaming services, further maximizing your rewards.
“The Chase Sapphire Preferred card has been a game-changer for me. The points I earn have allowed me to take amazing trips that I wouldn’t have been able to afford otherwise. Plus, the travel benefits like no foreign transaction fees and primary rental car insurance provide peace of mind while I’m on the road.”
Not only does the Chase Sapphire Preferred card offer great rewards, but it also provides valuable travel benefits. Say goodbye to foreign transaction fees, as this card has none. This means you can use your card internationally without incurring any additional charges. Furthermore, you’ll have peace of mind knowing that you’re covered with primary rental car insurance and trip cancellation/interruption insurance.
With its generous sign-up bonus and various redemption options, the Chase Sapphire Preferred card is a must-have for those who love to travel. Whether you’re exploring the world or embarking on a weekend getaway, this card will elevate your travel experiences and make every trip more rewarding.
Best for those who love going on road trips: U.S. Bank Altitude® Connect Visa Signature® Card
If you’re someone who enjoys hitting the open road and embarking on exciting road trips, the U.S. Bank Altitude Connect Visa Signature card is the perfect companion. With its fantastic travel rewards and benefits, this card caters to road trip enthusiasts looking to maximize their rewards while exploring new destinations.
One of the standout features of the U.S. Bank Altitude Connect card is its impressive earning potential. Cardholders earn 5X points on prepaid hotels and car rentals, ensuring that your accommodation and transportation expenses are rewarded. Additionally, you’ll earn 4X points on travel, gas stations, and even electric vehicle charging stations, making this card a versatile option for all your road trip needs.
Not only does the U.S. Bank Altitude Connect card offer generous rewards, but it also provides valuable perks to enhance your road trip experience. For example, the card comes with no foreign transaction fees, allowing you to make purchases abroad without incurring additional charges. Plus, it offers benefits such as cell phone protection and credits toward TSA PreCheck or Global Entry memberships, ensuring you have peace of mind while on the road.
With its exceptional rewards earning potential, valuable perks, and focus on catering to road trip enthusiasts, the U.S. Bank Altitude Connect Visa Signature card is the ideal choice for those who love going on road trips.
Table: U.S. Bank Altitude Connect Visa Signature Card Features
| Card Features | Details |
|---|---|
| Rewards Earning Rate | 5X points on prepaid hotels and car rentals 4X points on travel, gas stations, and electric vehicle charging stations 2X points on streaming services |
| No Foreign Transaction Fees | Enjoy making purchases abroad without additional charges |
| Cell Phone Protection | Get coverage for eligible damage or theft of your cell phone |
| TSA PreCheck or Global Entry Credits | Receive a statement credit for the application fee |
Best for grocery shopping: American Express® Gold Card
When it comes to grocery shopping, the American Express Gold Card stands out as an excellent choice for individuals over the age of 50. This card offers a range of benefits that make it ideal for earning rewards on food purchases.
The American Express Gold Card provides 4X Membership Rewards points at restaurants and U.S. supermarkets. This means that every dollar spent at the grocery store earns you four times the points, allowing you to accumulate rewards quickly.
In addition to the generous rewards program, the American Express Gold Card also offers various travel and dining perks. Cardholders can enjoy statement credits and purchase protection, making it a comprehensive card for those who love to dine out and travel.
“The American Express Gold Card is a top choice for individuals who frequently shop for groceries.”
Overall, the American Express Gold Card is a top choice for individuals over 50 who are looking for a credit card that rewards their grocery shopping habits. With its generous rewards program and additional benefits, this card provides great value for those who enjoy cooking at home and frequenting supermarkets.
| Rewards | Annual Fee |
|---|---|
| 4X points at restaurants | $250 |
| 4X points at U.S. supermarkets | ($0 intro annual fee for the first year) |
| 3X points on flights booked directly with airlines or on amextravel.com | |
| 1X points on all other purchases |
AARP Essential Rewards Mastercard: Best for Drugstore Purchases and Medical Expenses
The AARP Essential Rewards Mastercard from Barclays is an excellent credit card option for individuals over the age of 50 who frequently make drugstore purchases and incur medical expenses. This card offers generous rewards in these categories, allowing cardholders to maximize their savings and earn cash back on essential purchases.
With the AARP Essential Rewards Mastercard, you can earn 3% cash back on gas stations and drugstore purchases, making it a great choice for those who frequently fill prescriptions or buy over-the-counter medications. This cash back can add up quickly, providing valuable savings on everyday expenses.
Additionally, the AARP Essential Rewards Mastercard offers 2% cash back on medical expenses, including doctor visits, hospital bills, and prescription medications. This can be particularly beneficial for individuals who have ongoing healthcare needs or who incur regular medical costs.
| Key Features of the AARP Essential Rewards Mastercard: | |
|---|---|
| 3% cash back on gas stations | |
| 3% cash back on drugstore purchases | |
| 2% cash back on medical expenses | |
| 1% cash back on all other purchases | |
| Introductory APR period on balance transfers | |
| Modest sign-up bonus |
In addition to its cash back rewards, the AARP Essential Rewards Mastercard offers introductory APR periods on balance transfers, allowing cardholders to transfer existing high-interest credit card balances and save on interest charges. The card also provides a modest sign-up bonus, further enhancing the value it offers.
If you frequently make drugstore purchases and have medical expenses, the AARP Essential Rewards Mastercard from Barclays is an excellent choice. Its generous rewards program, coupled with valuable benefits such as an introductory APR period, make it a valuable tool for managing your finances and maximizing your savings.
Best for no annual fee: Chase Freedom Flex
When it comes to credit cards for individuals over the age of 50, finding one with no annual fee is always a bonus. That’s where the Chase Freedom Flex card comes in. With its attractive rewards program and no annual fee, it’s a popular choice among consumers.
The Chase Freedom Flex card offers cash back rewards on various categories, including dining, groceries, and rotating quarterly categories. This means you can earn rewards on everyday purchases without having to pay an annual fee. The card also provides flexibility in how you can redeem your rewards, making it even more appealing.
With the Chase Freedom Flex card, you can enjoy the perks of a credit card without any extra costs. Whether you’re looking to earn cash back on your everyday spending or want a card with no annual fee, the Chase Freedom Flex is a great option for individuals over the age of 50.
Best introductory 0% APR for large purchases: Wells Fargo Reflect® Card
When it comes to making large purchases, having a credit card with a 0% APR introductory period can be incredibly advantageous. One option that stands out in this category is the Wells Fargo Reflect Card. With its generous offer of an 18-month 0% APR, this card provides individuals with the opportunity to finance their purchases without incurring any interest charges.
Whether you’re looking to buy a new appliance, furniture, or even make a home improvement, the Wells Fargo Reflect Card can give you the financial flexibility you need. With no interest accumulating during the introductory period, you’ll have ample time to pay off your balance without any additional costs.
It’s important to note that the Wells Fargo Reflect Card is specifically designed for larger purchases, making it an ideal choice if you have a specific expense in mind. While it may not offer the same rewards or benefits as other credit cards, its focus on providing a 0% APR can be a valuable tool for managing your finances and budgeting for significant expenses.
| Key Features | Additional Benefits |
|---|---|
| 18-month 0% APR introductory period | No annual fee |
| Flexible financing options | Access to Wells Fargo online banking |
| Low ongoing APR after introductory period | 24/7 fraud monitoring |
While the Wells Fargo Reflect Card may not be the most versatile credit card in terms of rewards or benefits, its focus on providing an introductory 0% APR for large purchases can make it an excellent option for those with specific financial goals. Whether you’re planning a major purchase or need some additional time to pay off existing debt, this card can help you achieve your objectives while saving money on interest charges.
Remember, before applying for any credit card, it’s crucial to carefully review the terms and conditions, including any fees or restrictions. Be sure to consider your individual financial needs and goals to determine if the Wells Fargo Reflect Card is the right choice for you.
Conclusion
Choosing the right credit card is essential for individuals over the age of 50. With a variety of options available, it’s important to consider your specific needs and goals. Whether you’re looking for cash back rewards, travel benefits, or low interest rates, there is a credit card that can suit your preferences.
For those who prefer simplicity and cash rewards, the Citi Double Cash or American Express Blue Cash Preferred are excellent choices. If travel is your passion, consider cards like the Delta SkyMiles Gold, United Explorer, Southwest Rapid Rewards Plus, or the Capital One Venture Rewards. And if you carry a balance, the Chase Slate, American Express EveryDay, or U.S. Bank Platinum offer low interest rates and balance transfer options.
Overall, credit cards for over fifties provide great value and benefits. By choosing the right card for your spending habits, you can maximize your rewards and enjoy financial flexibility. Don’t forget to consider the annual fees, introductory offers, and additional perks that come with each card. Take the time to explore your options and make an informed decision that aligns with your financial goals.
Source Links
- https://www.nerdwallet.com/article/credit-cards/aarp-credit-card
- https://www.cnbc.com/select/best-credit-cards-for-seniors-and-retirees/
- https://www.hellawealth.com/blog/money/best-credit-cards-for-boomers/
