SOURCE: Creditnet

Creditnet

February 11, 2014 09:00 ET

The Best Credit Cards for Retirees, Announced by Creditnet.com

NEW YORK, NY--(Marketwired - Feb 11, 2014) - Retired consumers may not have a steady income, but that doesn't mean they don't have expenses. There are many credit cards that retirees can use to reap extra benefits. By using credit cards with cash back and rewards, retirees can make the most out of their savings. Today, Creditnet.com, a leading website on credit cards, announced the best credit cards available for retirees.

To create their ranking of the best credit cards for retirees, Creditnet experts looked at cash back offers, loyalty programs, travel rewards, introductory offers, annual fees, customer reviews, and expert opinions. According to their findings, here are the best credit cards for retirees:

Blue Cash Preferred Card from American Express

This card is an excellent cash back card, perfect for retirees who want to save money on gas and groceries. With the Blue Cash Preferred Card from American Express, cardholders can earn 6% cash back on up to $6000 per year in purchases at US supermarkets, 3% at US gas stations and select US department stores, and 1% on other purchases. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit. In addition, this card's introductory promotion offers cardholders 100 Reward Dollars and a free year of Amazon Prime membership after they make $1000 in purchases within the first three months. They even have a 0% intro APR on purchases and balance transfers for 15 months.

Discover it

Like the Blue Cash Preferred Card from American Express, the Discover it card is a great option for retirees to earn cash back. Discover's generous cash back policy allows cardholders to earn 5% cash back on up to $1500 in rotating categories (currently restaurant and movie purchases) and 1% cash back on all other purchases. There are no annual fees, overlimit fees, or foreign transaction fees, and they have 0% intro APR on purchases and balance transfers for 14 months. In addition, Discover it offers free FICO credit score on all monthly statements.

Barclaycard Rewards MasterCard - Average Credit

With the Barclaycard Rewards MasterCard - Average Credit, retirees can earn 2 points for every dollar spent on gas, grocery and utility purchases, and 1 point per dollar spent everywhere else. Cardholders can use the points like cash to pay for almost any purchases they've made. Barclaycard Rewards MasterCard's introductory offer lets members earn 2500 points, equal to a $25 statement credit, after their first purchase or balance transfer. Furthermore, there is no annual fee, a 0% intro APR on purchases and balance transfers for 6 months, and complimentary FICO scores as a benefit to active card members.

Although they may not be actively generating income, retired consumers should continue to use credit wisely. These credit cards are the best ones on the market for retirees. For more information regarding credit cards and comparisons, access Creditnet here: http://www.creditnet.com/

About Creditnet:

Creditnet is an authority credit card comparison site that offers innovative comparison tools to help users find the best credit card for their needs. In addition, the Creditnet Credit Talk Forum is a community of over 100,000 members that discuss credit cards, credit, debt, and credit repair daily.

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