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.
Credit cards can be a great, safe way to handle shopping and bill paying.
It is certainly nice to be able to avoid carrying a lot of cash when shopping. Credit cards are easy to use when shopping from home, as we order items over the phone, in the mail, or over the Internet. Travel really seems easier and safer with credit cards. Cards offer perks, bonuses, extra warranty protections and the law limits the losses we suffer if someone steals it and misuses the card. Our task force, looking at credit cards and seniors, is developing a survey to extensively inquiry about seniors and their credit card habits.