Whether or not itвЂ™s to earn benefits toward holidays or perhaps fund everyday acquisitions, thereвЂ™s strong interest in bank cards among older grownups.
Relating to a report from credit bureau Experian, middle-agers (those created between 1946 and 1964) carried on average 4.8 bank cards within the 2nd quarter of 2019, significantly more than some other generation when you look at the report.
One might genuinely believe that a mature adult's likelihood of getting authorized for the brand new charge card could be fairly high. It is a demographic that is had more hours to ascertain credit that is long, pay mortgages and display accountable borrowing. The Equal Credit chance Act also bars creditors from discriminating against a software based on age.
For you to get approved for a new credit card if you fall into that demographic, though, there are several reasons why it could be challenging.