Senior With Cards? Reconsider Please
If you are over the age of 65 and have numerous credit cards to your name, there’s one question that you probably need to ask yourself: "Do I need credit at this age? Most seniors, after a certain age, generally don’t buy a house, refinance their mortgage, or purchase a new car on credit. Courant.com reports:
Having a great credit score is important if you’re going to be doing any of these things. If you’re not, having great credit is mostly a point of pride (and does preserve your options in the future). If you have a dozen credit cards, consider keeping four of the oldest cards and canceling the rest.
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