We all receive offers to apply for new credit cards more than once a week in our mailbox. Credit card companies sponsor sports events, art shows, public festivals and practically overwhelm us with attractive offers as we shop at local malls. Virtually anyone can now obtain credit cards regardless of their age or financial status.
Discrimination seems to no longer be an issue with nearly universal access to credit.
You can even have a bad credit history, virtually no income and considerable other debt and still find some one willing to issue you a credit card. Some might say that most seniors are very careful with their money, rarely use credit cards, always pay their bills within 30 days, and only use their credit cards for home shopping or when traveling. If this was true the Consumers' Council and other consumer protection programs could target younger consumers with credit card problems and just focus on seniors about health and medicine issues, new services or the protection of seniors from scam artists trying to prey on them. A group of about a dozen of us has been meeting regularly since last October brainstorming about this growing problem. Our first thought has been that there is a need for a consumer education effort that targets seniors to make sure this population is well informed about how to use their credit cards carefully and wisely.