All information about Chase Freedom Flex® has been collected independently by Clark Howard, Inc.
Are you a senior citizen looking for a new rewards credit card?
For many senior citizens, simplicity and ease-of-use should be the guiding light when it comes to adding a new credit card to your wallet.
That’s why Team Clark recommends considering a cash back credit card that gives you 2% back on all purchases with no categorical restrictions or spending limits. This is like receiving a 2% discount on everything you buy.
If you don’t have one of these in your wallet, we recommend applying for one. If you have an existing credit card that doesn’t offer cash back rewards, you should inquire with your issuing bank about being moved to a card with a cash back program. Even if you don’t get a full 2% back from their program, earning something is better than nothing.
After hours of research and careful consideration, we have assembled a list of the best credit cards for seniors.
We assessed rewards programs to find the best choices for popular senior spending categories. So, if you already have a 2% cash back card, you may be able to enhance your rewards earning potential by picking a card that gives bonus rewards for the type of purchases you make most often.
In addition to rewards programs, we considered factors like welcome offers, introductory APR and bonus categories when assembling the list. You can read our full methodology here.
The Best Credit Cards for Seniors to Apply for Right Now
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Citi Double Cash® Card
Best for Everyday Purchases
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Wells Fargo Active Cash® Card
Best for Introductory APR Period
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Capital One Venture X Rewards Credit Card
Best for Travel
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Fidelity® Rewards Visa Signature®
Best for Retirement Savings and Investing
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Chase Freedom Flex®
Best for Drugstore Prescriptions and Dining
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Blue Cash Preferred® Card from American Express
Best for Supermarket Shopping and Streaming TV
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Costco Anywhere Visa® Card by Citi
Best for Gasoline and Bulk Shopping
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What Seniors Should Consider Before Applying for a Credit Card
Before we get deeper into the details on each of these cards, here are a few things seniors should consider before applying:
- Seek the simplicity of cash back. For this season of your life, you may find that a simple, easy-to-understand rewards program is best. Clark often recommends 2% cash back cards with no categorical restrictions to accomplish this. Many of these have no annual fee, and they’ll give you the option to use your cash back as statement credits to help cover your bill.
- It may be wise to consider a card with no annual fee. Everyone’s retirement budget is different, but committing to an annual fee on a credit card is at least something to consider. Our lists include cards that have annual fees, but we also make sure to include several no-annual-fee options.
- Check with a credit union if you need to carry a balance. If you’re going to carry a balance on your credit card, you’ll want to worry less about rewards and more about getting the lowest APR possible. Credit unions often offer lower interest rates on credit cards than banks.
- You’ll need to thaw your credit to apply. Most credit card issuers require a “hard” credit inquiry to assess whether they want to accept your application. That means seniors who have wisely decided to freeze their credit will have to temporarily thaw it during this process. Clark recently addressed how to best do this on an episode of The Clark Howard Podcast.
- You may be asked to provide household income information. This is another standard part of the application process. If you’re a recent retiree, this may be a little more complicated than simply looking at your latest paystub. Be prepared to accurately calculate this number.
Best for Everyday Purchases: Citi Double Cash® Card
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Annual Fee:
$0.00 (See Rates & Fees)
Rewards Program Details:
Earn 2% cash back on purchases: 1% when you buy and 1% as you pay with no categories, caps, or annual fee. Earn 5% Total Cash Back on Select Citi Travel Bookings: Travel your way and make the most of your vacation with an additional 3% cash back on hotels, car rentals, and attractions booked through the Citi TravelSM portal until 12/31/24.
This Is the Card for You If:
You are looking for a steady cash back return on everyday purchases. This card nets 2% back on all purchases with no spending caps, category restrictions or annual fee. |
Why We Like It for Seniors
Money expert Clark Howard has long recommended carrying a no-annual-fee credit card that pays 2% back on all purchases without any spending category requirements. And this card, which he carries in his wallet, checks both of those boxes.
Think of it this way: Using this card on your everyday purchases is like getting a 2% discount on everything you buy, provided that you pay your bill in full each month to avoid interest charges. Just redeem your Thank You rewards points as a statement credit to have your earnings applied directly to your bill.
Best for Introductory APR Period: Wells Fargo Active Cash Card
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Annual Fee:
$0.00
Rewards Program Details:
Earn unlimited 2% cash rewards on purchases with no categories to track or quarterly activations.
Intro APR Period on New Purchases:
15 months
Intro APR Period on Balance Transfers:
15 months
This Is the Card for You If:
You want an everyday spender that earns 2% cash back on all purchases with no annual fee. |
Why We Like It for Seniors
This card offers unlimited 2% cash back on all purchases, which is what we mentioned earlier as the main goal for most seniors.
But if you find yourself making a major purchase that will require that you temporarily carry a balance on your credit card, you’ll love that this card has an introductory APR period in addition to its rewards program.
Once you’ve paid your balance in full on the purchase, you’ll be able to enjoy the perks of a 2% cash back card.
Best for Travel: card_name
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Annual Fee:
$395
Rewards Program Details:
2 Miles per dollar on every purchase, every day. 10 Miles per dollar on hotels and rental cars booked through Capital One Travel. 5 Miles per dollar on flights booked through Capital One Travel.
This Is the Card for You If:
You are a frequent traveler who wants airport lounge access and can easily claim the $300 annual credit for bookings through Capital One Travel and anniversary miles provided. |
Why We Like It for Seniors
Note: If you’re not a frequent traveler, we recommend that seniors instead consider using a no-annual-fee 2% cash back card for travel purchases. This will help you earn rewards while avoiding a credit card with annual fees.
If you’re a travel nut like Clark, you may want to consider adding the travel credit card that he loves the most. This card is the latest addition to his wallet and is used often during his frequent excursions. And since it’s not tied to a particular airline or hotel chain, you can shop for the best deal and still earn rewards from this card.
You may see the $395 annual fee and think that seems awfully high for a Clark-recommended card, but it’s worth noting that most travelers will easily claim $300 of that fee back each year thanks to an annual credit for bookings through Capital One Travel.
If you find yourself flying to your destinations often, this may be your “cheapest” way to enjoy lounge access at select airports.
Best for Retirement Savings and Investing: Fidelity® Rewards Visa Signature® Card
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Annual Fee:
$0.00
Rewards Program Details:
Earn unlimited 2% cash back on everyday spending when redeemed as deposit into Fidelity investment accounts. You can spend your rewards or deposit them into any eligible Fidelity account, giving your money more chances to grow.
This Is the Card for You If:
You want a cash back rewards card that can aid your investing goals. This card can deposit rewards directly into Fidelity retirement and investment accounts. |
Why We Like It for Seniors
Are you looking to supplement your retirement investing or savings with credit card rewards?
You may find that this card can help you do that without much effort. If you have a qualified Fidelity investment account, you will be able to receive 2% cash back on every purchase you make as a deposit into that account.
That matches the earnings from the Citi Double Cash Card mentioned earlier — and gives you a chance to supplement your nest egg, potentially growing the value of your credit card rewards with smart investments along the way.
Best for Drugstore Prescriptions and Dining: Chase Freedom Flex®
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Annual Fee:
$0.00
Rewards Program Details:
Earn 5% cash back on different categories like gas stations, grocery stores (excluding Target® and Walmart®) and select online merchants on up to $1,500 in total combined purchases each quarter you activate. Earn 5% on travel purchased through Chase TravelSM. Earn 3% on dining at restaurants, including takeout and eligible delivery services. Earn 3% on drugstore purchases. Earn 1% on all other purchases.
This Is the Card for You If:
You want to lock in 3% back on restaurants and dining, enjoy rotating 5% back categories and get cell phone protection by paying your wireless bill with the card. |
Why We Like It for Seniors
If you are a senior who makes regular prescription medication purchases, you may find that this card is useful at your drugstore. And it can double as the card you use at your favorite restaurants. It rewards 3% cash back on both drugstore and dining purchases.
But, wait, there’s more. This credit card also has a rotating cash back category that allows you to earn 5% cash back on up to $1,500 in spending during each quarter. These categories rotate every three months. This can be useful for things like buying gas or groceries when those categories take their turns as the bonus reward earner.
If you’re willing to book your travel through Chase TravelSM, there’s a chance to earn 5% cash back with this card in that category, too.
Best for Supermarket Shopping and Streaming TV: card_name
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Annual Fee:
$0 intro annual fee for the first year, then $95. (See Rates & Fees)
Rewards Program Details:
6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 6% Cash Back on select U.S. streaming subscriptions. 3% Cash Back at U.S. gas stations. 3% Cash Back on transit (including taxis/rideshare, parking, tolls, trains, buses and more). 1% Cash Back on other purchases.
This Is the Card for You If:
You do your grocery shopping at a U.S. supermarket or are an avid TV streamer. Terms apply. |
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Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout. Terms apply. |
Why We Like It for Seniors
If you do your regular grocery shopping at a supermarket, like Kroger or Publix, this card could be a great choice for you. You’ll earn 6% back on purchases at many U.S. supermarkets. That’s one of the best cash back rates available for any spending category! Terms apply. Note: This does not include groceries purchased at wholesale clubs, Target or Walmart.
If you’ve cut the cord from the cable company and rely on a live TV streaming service like YouTube TV for your entertainment, you’ll be able to enjoy 6% cash back on that spending as well. This also includes most video streaming services, like Netflix or Peacock.
Best for Gasoline and Bulk Shopping: Costco Anywhere Visa® Card by Citi
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Annual Fee:
$0 (See Rates & Fees)
Rewards Program Details:
This Is the Card for You If:
You are a Costco member (required to apply) who regularly shops at the wholesale club and purchases gas at the fuel center. |
Why We Like It for Seniors
If you’ve followed Clark for any period of time, you likely know that he’s a huge fan of Costco. His love for “everything Costco” extends to the wholesale club’s credit card as well.
He carries this one in his wallet so that he can enjoy 2% cash back on all his purchases in-store and on the Costco website, but it also gives him 4% back on gas and EV charging purchases.
If you’re the kind of person who likes to stock up for the month at Costco and fill up the tank while you’re there, you may find that this card fits nicely into your wallet as well.
If you’re a Sam’s Club fan, you may find that the Sam’s Club Mastercard is a better choice. Clark has that one in his wallet, too.
Oh, and if you’re having a hard time choosing between the two wholesale clubs, Team Clark’s Anthony has a great breakdown here.
Methodology for Credit Card Analysis
For the purposes of determining which credit cards are “best,” we got input from Clark Howard and sought to find cards that fit his credit card strategy best.
Team Clark spent many hours reviewing the rewards credit cards on the market, assessing them for several factors including:
- Annual fees
- Rewards programs
- Welcome offers
- Length of introductory APR periods
- Balance transfer introductory periods
- Additional fees (transaction or otherwise)
- Perks offered to cardholders
- Reputation of financial institution issuing the card
We did not factor in non-introductory APR as a part of the evaluation, because interest rates are going to vary based on your financial circumstances. Clark recommends never carrying a balance on credit cards, so the non-introductory interest rate shouldn’t matter for your card anyway.
We also did not include offerings from local or regional banks or credit unions because they’re not available to everyone. Often, local institutions will have desirable cards, so we recommend that you compare your local bank or credit union’s cash back credit cards to the ones that made this list.
Are you a senior who has recently applied for a new credit card? Which one did you pick? Do you like it? We’d love to hear about your experiences in the Clark.com community.
To see the rates and fees for the American Express cards featured, please visit the following links: Blue Cash Preferred® Card from American Express: See Rates and Fees
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