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I think this is very wise.We're trying to get my wife a new credit card with her as the primary holder as a precaution should I "drop off the perch" before her
I think this is very wise.We're trying to get my wife a new credit card with her as the primary holder as a precaution should I "drop off the perch" before her
Which is intensely frustrating when one of the assets is a significant amount of cash held at that bank...which could easily be used to pay off a balance or to repay the whole shebang if you did unfortunately fall off the perch. Yes I am talking about my person experience here. And it was a LOT of cash. So frustrated with the whole thing.Assets seem to be totally ignored, it's all about income to your account
The issue of ability to repay within 3 years is the Government requirement that is apparently causing problems with the banks having issues with giving a cc to a retiree
You are definitely the exception rather than the rule.I actually earn a shed load of points annually on regular spend.
Probably not. As discussed throughout this thread, there are plenty of us who aren’t “pensioners” but because we are no longer salaried employees, it’s difficult to get a new CC or increase the credit limit on the ones we have.You are definitely the exception rather than the rule.
Even if they spent 100% of their income on their credit card, the average retiree is earning enough income to get them one or two return trips Melbourne-Sydney on points with a $1/pt credit card. Not all that lucrative.
Really?!? When you apply for a credit card, you are asking someone to loan you money.I really wish one of those Current Affair programs would call the banks out on this. If they are denying pensioners credit cards based on statistics and not individual performance it's not fair and responsible people should not be paying the price because irresponsible people are defaulting or not paying their bills.
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