- Cards
- Credit cards for the retired
Credit cards for the retired
You could be eligible for a Zable credit card, even if you’re retired.
Get a decision in seconds.
Getting a quote won’t impact your credit score.
Representative 29.9% APR (variable). Subject to eligibility.
Apply onlineRepresentative example:
Based on assumed borrowing of £1200 at an interest rate of 29.9% (variable) p.a. your representative APR will be 29.9% (variable).
Why choose a credit card with Zable?
Personalised credit limits
You'll receive a credit limit based on your individual circumstances that could increase over time with good credit management.
Repay instantly
You can repay any balances straight from your app by connecting your bank or debit card
Track your spending
View your balance and total spending in real time, and get instant transaction notifications
No annual or overseas fees
Focus on rebuilding your credit without worrying about yearly card fees. Zable also doesn’t charge fees for using your card abroad.
Can I get a credit card if I’m retired?
Yes, it’s possible to get a credit card if you’re retired, so long as you can prove to the lender that you have enough income to repay the money you borrow. Remember, income isn’t necessarily from a salary. It can be made up of things like rental payments, benefits and indeed, your pension.
At Zable, retirees up to the age of 70 can apply for a credit card. Check your eligibility for a Zable credit card for free below, without impacting your credit score. You’ll have a decision within seconds.
Check if I'm eligible
What to consider before you apply for a credit card when retired
1. Check your eligibility
Before you submit a full credit application, which shows up on your credit file and can temporarily impact your score, it’s a good idea to check your eligibility.
An eligibility check provides you with an instant decision without impacting your credit score. This can then help you make a more informed decision on whether you want to proceed.
2. Expand your definition of income
When a credit card application asks for your annual income, don't just think about what you’ve ‘lost’ (your salary). You can, and should, include all sources of income, including your pension. Both private pensions and government benefits count as stable income.
3. Ensure you’re comfortable with your repayments
If you don’t pay off your balance in full each month, you’ll have to pay interest on your remaining balance according to your purchase rate. The lower your APR, the less you’ll have to pay back overall, so this is the number to look at when comparing credit card quotes.
You basically want to make sure that you can comfortably afford your monthly repayments, on top of any other essentials that aren’t paid for with your credit card (perhaps your rent, mortgage, or bills).
Remember, a credit card can be a great financial tool, but it shouldn’t be used to ‘top up’ your income after retirement.
Types of credit cards that might suit the retired
Credit cards for low income earners
Designed for people with limited incomes, these cards can have lower starting credit limits. However, by making payments on time each month, it’s possible to increase your limit over time.
Credit cards for the unemployed
Similar to low-income cards, these are designed for people who have alternative forms of income rather than a conventional salary.
Planning to spend your retirement travelling? Zable doesn’t charge fees for using your card abroad. Your transactions will be converted to GBP using the daily Mastercard exchange rate.
Tips for using your credit card when retired
1. Make your payments on time
Pay on time consistently to build a strong credit history. You’ll need to make at least the minimum payment each month, but if you’re able to, pay more than the minimum to lower the amount you pay in interest. If you clear your balance in full and on time every month, you won’t be charged any interest at all.
2. Read the fine print before travelling
If you’re planning to spend your retirement travelling, make sure you’re aware of any potential fees or limitations.
There are no fees for using your Zable card abroad, you don’t have to let us know before you travel, and you’ll be able to use it in most countries (we’ve listed restricted countries here). Note: You can’t use your Zable card to buy foreign currency, and, as always, you should never use your credit card to withdraw cash.
3. Remember you have a ‘safety net’
Section 75 of the Consumer Credit Act means you have protection for purchases made on your credit card (between £100 and £30,000). If a company goes bust or a contractor disappears, you can claim the money back from your lender. This may give comfort to retirees who plan to commence some ‘bucket list’ spending!
How to apply for a credit card for retirees
You can apply for a Zable credit card in just a few simple steps. If you would like to find out more, our team is on hand to answer your questions seven days a week.
Download the Zable app or apply online
Check your eligibility
Find out if you could be approved for a credit card instantly, without impacting your credit score.
Complete your application
If eligible, you'll be asked to provide some more details. We'll review your information, usually within a few seconds.
Start spending immediately
Most customers can start spending right away, if eligible, using Apple Pay or Google Pay.