Credit Cards

The Best Credit Cards for Seniors and Retirees

Retiring soon? Then it might also be time to retire your current credit card. Here’s our list of the best credit cards for seniors and retirees.

Editor's Note

You can trust the integrity of our balanced, independent financial advice. We may, however, receive compensation from the issuers of some products mentioned in this article. Opinions are the author's alone. This content has not been provided by, reviewed, approved or endorsed by any advertiser, unless otherwise noted below.

Finding and using the right credit card makes it easy to get rewarded for your purchases. And it’ll give you the spending power you need to save some serious cash.

But as you age and your needs change, it’s crucial that you reconsider your credit card. In this article, I’ll review some of the best credit cards for seniors and retirees. Make sure that if you’re retired, you consider one of these so you can enjoy the benefits they have to offer.

Overview: Best Credit Cards for Seniors and Retirees

Credit CardBest For
The Platinum Card® from American ExpressTraveling
AARP® Essential Rewards Mastercard® from BarclaysAARP Memberships
American Express Cash Magnet CardDoctors’ Visits, Pharmacies, and Drugstores
Capital One Venture X Rewards Credit CardIdentity Fraud
Cash Back
Blue Cash Preferred® Card From American ExpressGrocery Shoppers
Costco Anywhere Visa CardIf You Drive a Lot

Best Credit Card for Seniors Who Like To Travel

For seniors who enjoy traveling often, finding a credit card that will work for your lifestyle is important. You’ll want to find a travel credit card that provides you with perks that will either simplify the process or help you save some money in the long run. Potential perks to look out for with a travel rewards credit card are free checked luggage, upgrade options, and airport lounge access to make your travels more enjoyable. You’ll also want a credit card that allows you to collect miles you can use towards flights and hotels. That way, you’ll get rewarded for your spending.

The Platinum Card® from American Express

The Platinum Card® from American Express has been mentioned as one of the top travel rewards credit cards for a long time by many experts. You can earn 100,000 rewards points if you spend $6,000 in the first six months. Earn 5X Membership Rewards® Points for flights booked directly through American Express Travel (up to $500,000/year) and get $200 back in annual statement credits on prepaid Fine Hotels + Resorts® or on The Hotel Collection bookings. For baggage fees, you also get $200 back in statement credits per year.

You even get up to $200 in Uber Cash so you can have money to put towards getting around when you travel. If you value convenience, you’ll want to take advantage of these travel perks.

It’s important to note that this travel credit card comes with a $695 annual fee, so it’s ideal for avid travelers who plan on exploring often.

Best Credit Card for AARP Memberships

It’s well-known that AARP’s mission is to empower many to choose how they live as they get older. The AARP provides access to many benefits that help you live your best life as you get older and move towards this next stage of life. A standard AARP membership costs about $16 per year and offers plenty of benefits.

AARP® Essential Rewards Mastercard® from Barclays

With the AARP® Essential Rewards Mastercard®, you get $100 cash back if you spend $500 within the first 90 days. You can earn 3% in unlimited cash back on gas and drug store purchases, unlimited 2% on medical expenses, and 1% on all other purchases.

There’s no annual fee, and you can even redeem your rewards towards an AARP membership.

The credit card comes with $0 fraud liability protection, so you don’t have to worry about being on the hook for any issues if your card goes missing or gets stolen.

Barclays also donates $10 for every new account to an AARP Foundation to give back, so you’re contributing to a cause you believe in.

Best Credit Card for Doctors’ Visits, Pharmacies, and Drugstores

If you find yourself with frequent doctor visits, you’ll want to think about how to pay for these expenses. Unfortunately, the fees associated with visiting your doctor and then paying for prescriptions can add up quickly. This means you may have to place some of these expenses on your credit card. In this case, we want to help you find a credit card you can rely on.

American Express Cash Magnet Card

The American Express Cash Magnet Card comes with a 15-month 0% APR period, no annual fee, and 1.5% unlimited cash back. You also get a $200 sign-up bonus if you spend $2,000 within the first six months of card ownership.

What makes the American Express Cash Magnet Card unique when handling medical bills is the Plan it® feature, which allows you to choose to pay certain medical expenses over a fixed period with no additional interest. There’s a fee to unlock this feature, but there are no fees for the interest, so you should save some decent money if you have expensive medical bills. As you know, medical expenses can get stressful, so it’s important to take any assistance you can find.

Best Credit Card for Protection from Identity Fraud

If security concerns you, find a credit card that protects you from identity fraud and any other potential issues. Nothing is worse than dealing with the repercussions of a stolen credit card or identity theft issues. As you get older, you don’t want to stress about the security of paying for items with your credit card.

Capital One Venture X Rewards Credit Card

We had to include this credit card because it offers unique security features that we wanted to share with you. The Capital One Venture X Rewards Credit Card has a $0 Fraud Lability Claims protection policy. So, if your card ever gets lost or stolen, you won’t be responsible for repaying that debt. You can also create fraud and instant purchase notifications to keep your credit card safe.

Lock your card through the Capital One app if anything suspicious ever happens. You don’t have to worry about calling in to report a lost or stolen credit card. You can do it all through the app. If security is a concern for you, you’ll want all the additional protection possible.

Best Credit Card for Cash Back

If you use your credit card for major purchases, consider tapping into cash back rewards to get some money back. Cash back credit cards are ideal for seniors who don’t carry a balance because you get a percentage back of the money you put on your credit card. So, if you decide to place all of your fixed expenses on your credit card and you pay your card off on time, you can benefit from getting some money back. This extra bit of money will definitely help you.

Chase Freedom Unlimited® Credit Card

The Chase Freedom Unlimited® Credit Card is one of the newer credit cards in this space, and it comes with no annual fee. You get a 0% intro APR for the first 15 months, so you don’t have to worry about expensive interest rates if you do carry a balance. After that the ongoing APR is 19.24% - 27.99% Variable.

You can earn 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% cash back on drug store purchases and dining at restaurants, and unlimited 1.5% cash back on all other purchases.

You can also earn an additional 1.5% cash back on all purchases on up to $20,000 in purchases during your first year -worth $300 in cash back rewards.

You can also work on your finances with free access to your credit and real-time alerts to stay updated.

Learn more about the Chase Freedom Unlimited® Credit Card.

Best Card for Grocery Shoppers

Blue Cash Preferred® Card From American Express

Everyone has to buy groceries. So if you want rewards for making purchases you make anyway, the Blue Cash Preferred® Card From American Express is one of the best. You can earn a lot of cash back each time you head to the grocery store. So it’s an excellent card for those who love to eat in and do a lot of cooking themselves, too.

This one delivers. When you use the Blue Cash Preferred® Card From American Express at U.S. supermarkets, you’ll get 6% cash back up to a total of $6,000 in purchases each year (1% after); plus 6% cash back on U.S. streaming subscription services (like Netflix). This is an incredible value! Terms Apply.

It also offers 3% back at U.S. gas stations and on transit, and 1% cash back on your other purchases. When you get your cash back, you’ll receive it in the form of reward dollars. These can then be redeemed as a credit on your statement.

Also, there’s a great signup bonus. The current welcome bonus is $250 back (as a statement credit) after you spend $3,000 in the first six months of having your card. One thing to consider with this card is the $95 ($0 introductory annual fee in the first year) annual fee, as you want to make sure you’ll earn more back than you pay in fees.

Best Card If You Drive a Lot

Costco Anywhere Visa® Card by Citi

If you’re a Costco member and are on the road a lot, you need to consider the Costco Anywhere Visa Card. This credit card actually rewards you for spending money on gas.

With no annual fee as long as you keep up your paid Costco membership, you’ll enjoy many ways to earn cash back. You’ll also be able to use your card in other countries without paying a foreign transaction fee.

This card offers 4% cash back on eligible gas purchases on the first $7,000 that you spend each year. Beyond that, you’ll earn 1% back on additional gas purchases.

Outside of the significant cash back on gas, you'll get:

  • 3% cash back on eligible travel purchases and restaurants
  • 2% cash back on purchases from and Costco stores, and
  • 1% back on all other purchases

The variable APR is in line with other cards, too. While this isn't a terrible thing, you'll want to make sure you pay your card off in full when you can.

How the Best Credit Cards for Seniors Were Picked

I considered various factors when it comes to which credit card we’re going to refer to. The main goal of a credit card is to help you maintain your financial wellness in your golden years while you take advantage of perks so that you can make the most of your time.

I looked for credit cards that reward you for spending and provide you with convenience. With time, the offers change, so we’re constantly updating this list with new perks you’ll enjoy.

I’m also aware that every situation is unique. So, I considered credit card options for all possible scenarios, regardless of whether you want to travel more or if you want a credit card for everyday spending.

Bottom Line

As you can see, there are a lot of great credit cards for retirees to choose from. And deciding what is most important to you will help you make the right choice for your needs.

These seven cards offer a wide variety of different features and benefits to their users. But please let us know if you think we missed a card in the comments below!

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Chris Muller

Chris Muller

Chris has an MBA with a focus in advanced investments and has been writing about all things personal finance since 2015. He's also built and run a digital marketing agency, focusing on content marketing, copywriting, and SEO, since 2016. You can connect with Chris on Twitter @moneymozartblog.

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