‘It doesn’t seem fair’: I’m retired and have plenty of money. Why can’t I qualify for a retail credit card?

‘It doesn’t seem fair’: I’m retired and have plenty of money. Why can’t I qualify for a retail credit card?

IRA Financial News

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“I draw from my IRA as needed for household repairs, trips and other larger expenses.”...

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The Moneyist

‘I draw from my IRA as needed for household repairs, trips and other larger expenses’

Updated

“I have an excellent credit score — between 825 and 850, depending on the source — and my house is paid off.” (Photo subject is a model.) Photo: Getty Images/iStockphoto

Dear Quentin,

A bit of an odd question. 

I retired eight months ago and have a regular defined-benefit pension, Roth IRA, traditional IRA and other investments. I haven’t started collecting Social Security yet. My gross pension is about one-third of my previous salary, but it’s still enough to cover my everyday expenses. 

About the Author

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Quentin Fottrell is MarketWatch's managing editor for advice columns and writes the column The Moneyist. You can follow him on Twitter @quantanamo.

Disclaimer: The views and opinions expressed in this article do not necessarily reflect the official policy or position of IRACircle. Always consult a certified financial planner or tax advisor before executing retirement account transactions.