Credit Cards for Retired People
Feb 15, 2017, 12:32 pm
#1
Original Poster
Join Date: Aug 2003
Location: Los Angeles, CA. USA
Posts: 28
Credit Cards for Retired People
I am newly retired and applied for the Barclay AA card with the hope of getting 40K AA miles. I have very good credit 790+ and no history with a Barclay card. I am ok financially but can't show a lot of income. I stated $60K in annual income which is a big drop from what my credit history would show. I have no debt. The Barclay website indicated they won't give me a card at this time. They are mailing an explanation.
My question relates not only to Barclay but credit cards in general. Can retirees get credit cards without that steady flow of income from employment?
My question relates not only to Barclay but credit cards in general. Can retirees get credit cards without that steady flow of income from employment?
Feb 15, 2017, 1:01 pm
#2
FlyerTalk Evangelist
Join Date: Dec 2003
Location: Not here; there!
Programs: AA Lifetime Gold
Posts: 29,585
I am newly retired and applied for the Barclay AA card with the hope of getting 40K AA miles. I have very good credit 790+ and no history with a Barclay card. I am ok financially but can't show a lot of income. I stated $60K in annual income which is a big drop from what my credit history would show. I have no debt. The Barclay website indicated they won't give me a card at this time. They are mailing an explanation.
My question relates not only to Barclay but credit cards in general. Can retirees get credit cards without that steady flow of income from employment?
My question relates not only to Barclay but credit cards in general. Can retirees get credit cards without that steady flow of income from employment?
Make sure that you are including all sources of income in the total, including -- if applicable -- Social Security benefits, IRA distributions, 401(k) distributions, etc.
Out of curiosity, why did you apply for the Barclays AA card, instead of the Citi AA card, which has a higher sign-up bonus, and a first-year annual fee waiver?
Feb 15, 2017, 1:34 pm
#3
Join Date: May 2003
Location: CA
Programs: AA Lifetime Gold, HHonors Diamond
Posts: 2,879
If you look through the various Barclay threads, you will see that they have been very hit and miss lately. In my wife's last Barclay application, they wanted a ton of identification information sent to them. Wound up getting approved but others, who had the same request, were denied. No real reason one way or another.
As for being retired, that should not be a problem. My wife and I are both retired and have had no problem getting Citi, Chase and AMEX cards.
As for being retired, that should not be a problem. My wife and I are both retired and have had no problem getting Citi, Chase and AMEX cards.
Feb 16, 2017, 9:41 am
#4
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,955
Credit reports do not include any information about income. However, if you have large credit lines (from other issuers), based on your previous income, Barclays might think that it is disproportionate to your current income. I agree that you should wait to see the stated reason(s) for the decline, it could be something entirely unexpected.
Feb 17, 2017, 9:16 am
#6
Join Date: Jan 2005
Programs: UA GOLD MM,WN CP A+list, HH Gold,MR LT Titanium
Posts: 2,184
If I am reading this correctly and you have a Citi AA card that you plan to close, you may want to consider requesting that it be converted to a no fee card. I converted one of mine to a Double Cash card and have been very pleased with the 2% cash back.
Feb 18, 2017, 10:40 am
#7
Join Date: May 2015
Location: LAX, BUR
Programs: AS,AA,JB, HH Gold, Starriott Titanium Elite, Hyatt Explorist, Global Entry
Posts: 1,933
I sent copies of ID, utility bill.
Wait for the letter or call and ask what is the reason, they'll tell you.
Probably not income related
Feb 21, 2017, 6:25 am
#10
Join Date: Mar 2010
Location: mountains of western NC
Programs: Life, Love and Laughter
Posts: 8,538
I am newly retired and applied for the Barclay AA card with the hope of getting 40K AA miles. I have very good credit 790+ and no history with a Barclay card. I am ok financially but can't show a lot of income. I stated $60K in annual income which is a big drop from what my credit history would show. I have no debt. The Barclay website indicated they won't give me a card at this time. They are mailing an explanation.
My question relates not only to Barclay but credit cards in general. Can retirees get credit cards without that steady flow of income from employment?
My question relates not only to Barclay but credit cards in general. Can retirees get credit cards without that steady flow of income from employment?