Can I get a credit card after I retire Generally, credit cards are not issued to people over 60 years of age. However, some banks even issue them up to the age of 70.
Can a retired person apply for a credit card
The basis of a credit card is to assess whether the person receiving it has a regular income.
If there is a pension, interest income from a deposit fund, or a demat account, and there is a regular income from it, banks will not hesitate to give a credit card to that person.
However, this is the decision of the respective bank manager. There are two other options. One, you can get a credit card equal to your deposit fund.
This is called a ‘secured card’. Two, get an ‘add-on’ card with the credit card held by your son or daughter.
Credit card for Pensioners in India
A pensioner credit card is a special type of credit card offered to pensioners in India. These credit cards are designed to meet the financial needs of pensioners.
Benefits of pensioner credit cards
Low interest rate: Pensioner credit cards generally have a low interest rate. This reduces the cost of using a credit card for pensioners.
High credit limit: Pensioner credit cards generally have a high credit limit. This helps pensioners to make large purchases or meet urgent needs.
Exclusive offers: Pensioner credit cards generally offer various exclusive offers. These offers include discounts, cashback, and reward points.
Banks that offer credit cards for pensioners
State Bank of India (SBI)
Punjab National Bank (PNB)
Bank of Baroda (BOB)
Indian Bank
Canara Bank
Easy application process: Applying for pensioner credit cards is generally easy. Pensioners can apply for the credit card by submitting their pension documents and identity proof.
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