Why not give it to the elderly?

As we approach retirement age, we’re also getting closer to cutting back on the financial products and services we have access to, as there’s a financial gap that women experience. The people of the third age When they are no longer candidates for credits, but have you ever wondered why?

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Why are credit cards not given to seniors?

In Mexico, this is a jigsaw of millions Elderly , As some banks or Sofomes limit access to various credit services to those under 64 years of age.

One of the main reasons for their refusal of credits The people of the third age This is due to their life expectancy, which in Mexico ranges between 72 years for men and 78 years for women, meaning that there is a shorter period for credit repayment, and the second reason is the lower income they can receive.

credit

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The motivation behind this is the lack of a retirement plan that guarantees Mexicans to maintain their standard of living through a pension or personal retirement plan, which, once retired, can represent 30% to 70% of original income.

What are the credit options for seniors?

One option is to start a process in a financial institution that includes The people of the third age on your products. Like fintech companies, there is an option to request a file Credit card It is by secured plastic.

credit cards

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The credit cards Guarantee to extend the life span of their order Since the credit limit you get depends on the deposit you make, this assures the bank that you will pay your card month after month

This way you will have access to promotions for months without interest, reward points and cashback and continue to build your credit history with Buró and Círculo de Crédito.

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Myrtle Frost

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