The Top 9 Credit Cards for Seniors and Retirees

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6. Chase Sapphire Preferred® Card

Biggest Perk: No Foreign Transactions Fees

If you don’t want all of the luxury perks of the previous card, the Chase Sapphire Preferred® Card is a simpler travel credit card. But, don’t worry, it still has some great benefits. You’ll no longer have to think about racking up fees when spending aboard, as this card won’t charge you a single foreign transaction fee.

Using this credit card, you can earn 50,000 bonus points, if you make $4,000 worth of purchases using it within the first three months. If you redeem the bonus points through Chase Ultimate Rewards® travel portal, that works out as $625 to spend on travel. On top of that, you’ll earn two points for every dollar you spend on travel and dining and one point for all other purchases.

For the first year, this card comes without an annual fee, but after this period you can expect to pay $95. The interest rates on this card are from 16.99% – 23.99% based on your creditworthiness, which is quite high. So, make sure your payments are on time to avoid any interest fees counteracting your bonuses.

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7. Simmons Bank Visa® Platinum Card

Biggest Perk: 9.25% Variable APR

If you are more concerned with avoiding debt than claiming cash back or travel rewards, you might want to explore the Simmons Bank Visa® Platinum Card. This credit card has no annual fee and a very low-interest rate of just 9.25% APR. Another great benefit of this card is zero balance transfer fees, so you’ll be able to transfer high-interest balances from other accounts without paying any additional fees.

This card is more about functionality than rewards. The average APR for consumers with good credit is around 17%. But, at just 9.25% APR this credit cards interest rate is shockingly low.

However, this card isn’t ideal to use abroad as you will be lumped with 2% foreign transaction fees on every purchase. But, it does offer as much as $1million of travel accident insurance. Ultimately, this card is for avoiding more debt, rather than reaping the benefits that many credit cards offer.