Credit Card for Senior Citizens: Why senior citizens should start using credit cards

financialexpress.com:

Financial products are usually meant for young generations as they understand the technology well and can use them more appropriately. That is, however, fast becoming a thing of the past. These days even seniors have started using financial products more frequently. For instance, the adoption of credit cards by all age groups has become a new trend now. Many senior citizens like to have credit cards and keep spending based on their requirements.

We all are aware that credit cards have now become an indispensable tool for managing expenses, accessing rewards, and building creditworthiness. However, while credit cards are often associated with younger generations, senior citizens can also benefit significantly from incorporating them into their financial strategies. Let’s explore why senior citizens should consider using credit cards and the various benefits they can enjoy.

One of the primary advantages of using credit cards for senior citizens is the convenience they offer. Carrying cash can be risky, especially in crowded areas or during travel. Credit cards eliminate the need to carry large sums of money, reducing the risk of loss or theft. Additionally, credit cards come with advanced security features such as PINs, CVV numbers, and fraud protection services, providing seniors with peace of mind during transactions.

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Life can be unpredictable, and unexpected expenses can arise at any time.

Adhil Shetty, CEO of Bankbazaar.com, explains, “Having a credit card can be a valuable safety net for senior citizens, allowing them to handle emergencies such as medical bills, home repairs, or urgent travel expenses without relying solely on