Credit card options for retirees

[Flyfrequently]

Splitting payment across two cards isnt an option with SQ, I wanted to pay for a ticket with my Amex, but ended up having to put extra cash into my Bankwest credit card so I could pay for a ticket that exceeded my limit Dont know if Amex allow that but BW customer service were the ones to suggest it.

Don't think I can split payments with QF either @Askance.
Also, I did ask Amex if I could put a few extra $ in credit on my card prior to purchase, answer was a definite no, it would be flagged and account would be closed!

 

[Flyfrequently]

It's hard l. From your point of view you are a great customer but from the CC provider pov, you are not going to end up paying exorbitant interest. They will pick up a small percentage on spend but they have an excuse (no occupational income) to knock you back

Thanks @andye agree entirely!

Son in law racked up a 60k credit card debt a few years back, only paying minimum monthly repayments- interest was staggering!
They were close to losing their house but our FP sorted them out, able to refinance but still they have a higher credit limit and our incomes are the same
As you say, no occupational income.

 

[Cynicor]

I know people think banks are only after CC interest but I’ve seen no evidence of this in rejection patterns. Sometimes you have to accept incompetence rather than malice.

You have no formal employment income, and the banks are too stupid (or just don’t care, more likely) to organise a different route to a credit card. There may even be laws making it harder for them.

I’ve not ever heard of anyone with lots of assets and high formal employment income being denied cards regularly, so clearly the “you won’t earn the bank interest” is a nonsense line. They earn money on interchange fees anyway.