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General Discussion / Managing credit cards after retiring
« on: March 17, 2021, 11:16:17 AM »
I recently got approved for a credit card but with a low $ limit.  I hadn't applied for a new credit card in some time and I was working full time when I was last approved for a new card with a good credit limit.  I still have a high credit score.  This time, after quitting work, I realized that the card company will always ask what your income is and I told them what my last year fed tax form said it was.  Now I can't seem to get the card limit raised and I think it is because my income is lower than in previous years, and it makes sense to me that the card company would be hesitant to grant me more credit.  How do retirees manage getting approved for a card, or limits raised, if they have a good net worth but they're income is lower than a card requires- perhaps they are living off of cash reserves and are not showing a lot of income that many other retirees would show because they are doing Roth conversions or have pensions?
Is this where debit cards come in??  I hope not, but I don't hear much about how retirees are getting approved for credit cards.  Any thoughts are appreciated.

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