Money Talks News: Credit Cards for Retirees

Reaching your golden years may mark the end of working for a paycheck. But it shouldn't mean the end of working on your credit score.

Credit scores affect everything from your car insurance to your ability to borrow. And the way you use your credit cards is going to have a big influence on your credit score. Here's what to look for when using credit cards in retirement.

First, use a card with no annual fee, unless it's a reward card you'll really benefit from.

Next, make sure the card's terms are easy to understand, so you know what you're getting.

Then, if you are carrying a balance, you definitely want a card with a low interest rate. That's particularly important if you're on a fixed income.

Anybody who's got credit is going to get offers in the mail. But these aren't the best way to shop for cards.

Don't take what's coming at you. Be proactive and go out there and shop for the right card for you.

Next, remember to use the card every month, even if it's just for some gas or groceries. Then pay the balance in full. Finally, cash back or travel rewards cards are often better for retirees, so choose what works for you.

Bottom line... credit stays important after you've retired. In fact, at any age it always makes sense to go out and find the right credit card for you. Be smart. We can help you do that.

Just go to Just do a search for "credit cards."

For Money Talks News, I'm Stacy Johnson.