Retirement and Credit Cards?

[knick1959]

As I start a plan heading into retirement (I'm at least 5 years out, but who knows), it just hit me. My salary and employment status will change. My credit score? Perhaps not.

Any of you guys retired and still participating in The Game? I assume you still can. I've already slowed down my own pace, but that's more of an opportunities used-up, dried-up deal.

Any experience as a retiree and credit card activity? TIA.

 

[GettingReady]

As I start a plan heading into retirement (I'm at least 5 years out, but who knows), it just hit me. My salary and employment status will change. My credit score? Perhaps not.

Any of you guys retired and still participating in The Game? I assume you still can. I've already slowed down my own pace, but that's more of an opportunities used-up, dried-up deal.

Any experience as a retiree and credit card activity? TIA.

No problem whatsoever. I asked that same question to a couple of bankers. They essentially said it’s my “available income” in retirement accounts. Technically I can draw out whatever I want. I haven’t slowed down on CC apps and it hasn’t been an issue.

 

[pstlb]

Same here. I've slowed down considerably but still participate. Banks keep approving me for CCs so I continue to play.

 

[Rick]

The great thing about being retired is you can do as much or as little as you want.
As for the banks... they still approve.

Here is a head scratcher:
After holding A Chase business card for 7 years, during which I’ve never requested a CLI, they’ve gone and increased my line 4 times this year. This has resulted in a five-fold increase in what was a decent line to begin with. I don’t even have a business. Makes no sense to me at all.

 

[knick1959]

Thanks to all of you for the replies. I can rest a bit easier now! I have used up most of the AMEX card opportunities (unless they forget about me in X years ... when I'm retired maybe? ) and I had issues even getting the bonus for the last card (had to write CFPB, which did the trick). I'm sure I'll be on their S-list for some time. Chase? I won't be under the Chase 5/24 threshold for awhile ... but there is a chance I'll be there once retired.

I don't think I will ever churn again like I have in the past; it isn't possible anymore (not at previous rates). But it IS good to know I can still shoot for new options that appear even after retirement.

 

[HanoiIG]

As I start a plan heading into retirement (I'm at least 5 years out, but who knows), it just hit me. My salary and employment status will change. My credit score? Perhaps not.

Any of you guys retired and still participating in The Game? I assume you still can. I've already slowed down my own pace, but that's more of an opportunities used-up, dried-up deal.

Any experience as a retiree and credit card activity? TIA.

I was already retired when I learned "the game." At our peak we had 35 or so cards with total unsecured credit of about 600K$. We also have some charge cards so could have bought a Lamborghini or 2, though we didn't. Our credit scores have been in the 800's throughout the process, with small deviations from 830's to the teens.

We haven't been approved for any new cards in about 6 months with B of A and Capitol One our chief nemeses. I think we may be finished. We are old, quite solvent and it's time to just spend all of the points and just earn what we can through multipliers and use transfer bonuses like Flying Blue when they come up.

We have a trip booked for this week which we hope will come off as planned. Our flights are nearly all awards, while our hotels are all cash. Our hotels of choice are Accor, followed by a couple of Mandarin Orientals and the Cirigan Palace in Istanbul.

We had no problem getting approvals until we seem to have hit the wall. Chase 5/24 since I can remember and many AMEX. I've cancelled a few and I will cancel our last Alaska card as it's too difficult to use from the east coast plus not exactly a wonderful flying experience.

Also will cancel cards with fees for my wife, especially AMEX which credits are so difficult to use with airlines since gift cards don't usually work.

I suggest you get the big bonuses while you can and then taper off.

 

[Rellydon]

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I was already retired when I learned "the game." At our peak we had 35 or so cards with total unsecured credit of about 600K$. We also have some charge cards so could have bought a Lamborghini or 2, though we didn't. Our credit scores have been in the 800's throughout the process, with small deviations from 830's to the teens.

We haven't been approved for any new cards in about 6 months with B of A and Capitol One our chief nemeses. I think we may be finished. We are old, quite solvent and it's time to just spend all of the points and just earn what we can through multipliers and use transfer bonuses like Flying Blue when they come up.

We have a trip booked for this week which we hope will come off as planned. Our flights are nearly all awards, while our hotels are all cash. Our hotels of choice are Accor, followed by a couple of Mandarin Orientals and the Cirigan Palace in Istanbul.

We had no problem getting approvals until we seem to have hit the wall. Chase 5/24 since I can remember and many AMEX. I've cancelled a few and I will cancel our last Alaska card as it's too difficult to use from the east coast plus not exactly a wonderful flying experience.

Also will cancel cards with fees for my wife, especially AMEX which credits are so difficult to use with airlines since gift cards don't usually work.

I suggest you get the big bonuses while you can and then taper off.

Useful Post Thank You Mate!