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Six credit cards with perks

Created date

July 8th, 2016
credit card

credit card

While retirement is certainly no time to rack up credit card debt, using the right cards responsibly can be a great way to get travel rewards, cash back, and other perks. If you’re retired, here are six of the best credit cards to keep in your wallet. 

1. Barclaycard Arrival Plus World Elite (findmybarclaycard.com): Joshua Heckathorn, president of CreditNet.com, recommends this card for retired globetrotters. “Not only can you earn 2 miles per dollar spent, but new cardholders can also earn 40,000 bonus miles after spending $3,000 during the first 90 days,” he says. “That’s a great sign-up bonus and can be redeemed for a travel statement credit worth $400.” There is an $89 annual fee, but it is waived for the first year, and cardholders can get 5% of miles back when redeeming for a statement credit. 

2. Chase Sapphire Preferred (creditcards.chase.com): This card is known for one of the best travel bonuses in the industry. David Baake of Money Crashers (moneycrashers.com) says you can get $625 in travel rewards when you charge $4,000 in the first three months. Plus, you get double points on travel and dining purchases. However, after the first year, there is a $95 annual fee, and Baake says, “This credit card does not come with some of the more specific travel benefits other cards offer, such as complimentary checked baggage or priority boarding.”

3. Chase Slate (creditcards.chase.com): If you have some credit card debt you need to pay off before retiring, consider opening a Chase Slate account. Matthew Coan, owner of the credit card comparison site Casavvy.com, says this card offers 0% interest on balance transfers and new purchases for 15 months. 

4. U.S. Bank Cash+Visa (cashplus.usbank.com): During the holidays, you probably spend a lot at department stores, but come summer you may be dining out frequently or buying new furniture. Jeff Herman, editor at CreditCardGuide.com, likes this card because you can choose the categories where you’ll earn cash back each quarter. “The Cash+ card also has no annual fee, and U.S. Bank customers get $100 when they sign up for the card and a $25 bonus with the first redemption of $100 or more in cash back,” he says. 

5. Discover it (discover.com): Denver financial planner Scott Cody recommends this Discover card to retirees for its long list of perks, including no annual fee, 0% interest for 12 months, 1.5 miles for every dollar spent, and 2% cash back on gas and restaurant purchases. “For new members they match all the miles you earn,” Cody says. 

6. PenFed Platinum Rewards Visa Signature (penfed.org/platinum-rewards-visa-signature): This card is a must-have for retirees who take a lot of road trips or those who travel in an RV. Voted the best road-trip rewards card in a recent study by WalletHub and CardHub, this card gives you five points for every dollar spent on gas, plus three points per $1 on groceries. You can find CardHub’s complete list of 2016’s Best Credit Cards For Summer Travel at cardhub.com/best-travel-credit-cards.

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