Best Credit Cards in Your 60s

Qualifying after your last payday

Several of the cards above quietly lower the bar for older applicants. OCBC 365 asks applicants aged 55 and above for only S$15,000 a year, and UOB One and the Trust Cashback card do the same from age 56 — half the usual S$30,000. If you still have some income in retirement — part-time work, rental, an annuity — you may clear that lower floor comfortably, provided the bank counts that kind of income. Confirm the current figures with the bank, as they do change.

If you cannot show income at all, some banks will issue a card secured against money you pledge instead. UOB One, for example, accepts a S$10,000 fixed deposit in place of the income requirement — the money stays yours, but it is pledged to the bank as security, so ask when and how it is released before you commit it. Not every issuer offers a secured option, so check which of a bank's cards can be opened this way before you place the deposit.

Match the card to a smaller monthly spend

Most high-rate cashback cards only pay their best rates above a monthly minimum spend — UOB One's top tiers even require consistent spending across a whole quarter, and OCBC 365 needs a monthly minimum before its bonus rates unlock. Once the mortgage is done and the household is smaller, that minimum can be further away than it looks. Tally a typical month before you choose, and use a quiet month rather than a festive one.

If your spending is modest or uneven, a flat-rate card with no minimum spend, such as Simply Cash, earns the same on every dollar however little you put through it. The headline rate looks lower, but a bonus rate you rarely qualify for is worth less than a plain rate you always get — and the smaller your monthly spend, the more that trade favours the flat card.

Your own card versus a supplementary card

A supplementary card on your spouse's or child's account is the easiest route in, because eligibility rests on the principal cardholder rather than on your income. But the account is theirs, not yours: your spending — and any rewards it earns — runs through their account, and the arrangement lasts only as long as they keep that account open. It works well for couples who already pool their finances, less well if you want a line of credit of your own.

Keeping one principal card in your own name preserves more than convenience. It keeps your own credit line, your own statement and an active record with the Credit Bureau Singapore — useful if you later want a renovation loan, a car loan or simply a replacement card. If a genuinely no-fee card is doing that job, there is little reason to give it up just because the payslips have stopped.

Frequently asked questions

Can I get a credit card in Singapore after I retire?

Yes, but eligibility changes once you no longer draw a salary. Some cards lower the income bar for older applicants, and where you cannot meet an income requirement, a card secured against a fixed deposit or a supplementary card on a relative's account is the usual route. Confirm the options with the issuer.

What's the best low-maintenance card for a retiree?

A genuinely no-annual-fee card with simple, flat rewards and no minimum spend to chase. That keeps costs at zero and avoids the effort of tracking bonus categories.

Do banks count rental or investment income when you apply in retirement?

Policies differ by issuer. Some banks accept non-salary income such as rental income, annuity payouts or investment income, while others want to see employment income — and the proof they ask for differs too. Ask the bank what income it accepts and what documents it wants before applying — a failed application still adds an enquiry to your Credit Bureau Singapore file.

Should I cancel my credit cards when I retire?

Not automatically. A card with no annual fee costs nothing to keep and preserves a credit line and history you may want later — and requalifying after your salary stops can be harder than keeping what you already have. Do drop cards whose fees you can no longer get waived, and clear the balance in full before cancelling anything.