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calenderSep 23, 2023

7 factors senior citizens should consider when choosing a Credit Card

As we age, our financial needs and responsibilities change, and we must adapt to new ways of managing our finances. One of the most effective ways of managing expenses and maintaining financial stability is by owning a Credit Card.

With the right Credit Card, you can enjoy various rewards, cashback and other benefits that can help you save money and manage your finances effectively. Let's discuss the essential factors that senior citizens should consider while choosing a Credit Card.

Benefits of owning a Credit Card for senior citizens

Owning a Credit Card can provide various benefits. Credit Cards offer various features and benefits, including ease of transaction, cashback, reward points and travel perks, making them a great choice for senior citizens.

Convenience: Credit Cards offer convenience by allowing you to make cashless transactions. You can use Credit Cards to pay bills, purchase goods and services online, and make payments without carrying cash.

Financial discipline: Credit Cards can help you maintain financial discipline. You can monitor your expenses and plan your finances better with the help of Credit Card statements.

Credit score improvement: Using Credit Cards responsibly can build your credit score. Timely payments and low credit utilisation can improve credit scores, which can be helpful for future loan applications.

Reward points: Most Credit Cards offer reward points for every transaction. You can accumulate and redeem these points for various benefits like cashback, discounts or gift vouchers.

Travel perks: If you love to travel, you can benefit from Credit Cards offering airport lounge access, travel insurance and air miles.

Online transactions: You can apply for Credit Cards online and enjoy the convenience of online transactions. Online payments can be made easily through net banking or mobile banking.

Automatic bill payments: The payment method is easy to set up. You can set up automatic bill payments and avoid missing due dates.

Things to keep in mind while choosing a senior citizen card

(1) When choosing a Credit Card, there are several factors that senior citizens should consider. The first and most important factor is the credit limit. You should also consider the interest rates and fees associated with the Credit Card. You should choose a Credit Card with a credit limit appropriate to your needs and financial situation.

(2) Another important factor to consider is the rewards program the Credit Card offers. You should choose a Credit Card with rewards relevant to your lifestyle and spending habits. For example, a Credit Card that offers cashback on groceries may be more beneficial for you if you spend a significant amount of money on food.

(3) Axis Bank offers a range of credit cards that offer benefits such as EDGE reward points, cashback offers, discounts, accelerated reward points on spending, airport lounge access, etc. Select one that suits your needs.

(4) Additionally, you should consider the ease of making payments and managing your Credit Card accounts. Credit Cards that offer online bill payment and account management can make it easier to keep track of your spending and manage your finances.

Secured Credit Cards

Axis Bank also offers a range of Secured credit cards which are easier to apply for, with better chances of approval. These credit cards are backed by an FD and do not require income proof. You can reach out to the nearest Axis Bank branch to apply for a Secured credit card.

[Also Read: Why keeping your Credit Card active is important]


Owning a Credit Card is essential for you to manage your finances effectively. By considering the benefits, eligibility criteria and fees, you can choose the best Credit Card that caters to your needs.

Applying for a Credit Card online is convenient, quick and secure. So, what are you waiting for? Apply for a Credit Card today and enjoy the benefits that come with it.

Disclaimer: This article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd. and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision