Revolving credit card debt can be a problem at any age, but its especially troublesome when youre retired and on a fixed income.
Unfortunately, credit cards have become the lender of last resort for some senior citizens who often face medical-related expenses on top of ongoing cost increases in housing, utilities and food.
Here is a look at the problem, ways to deal with credit card debt at an advanced age and how to avoid this problem as you approach retirement.[Read: Best Low-Interest Credit Cards.]
Is Credit Card Debt an Issue for Senior Citizens?
Credit card debt has increased among families headed by someone age 65 and older in the last couple of decades, according to a 2018 report from the Employee Benefit Research I…
Read the full article at: https://wtop.com/news/2019/02/how-seniors-can-get-help-with-credit-card-debt/