My mom passed away in June and the credit cards were in her name.

He needs one now, his credit score is 830+, but he's telling me whoever he talks to will only give him one with a $1,000 limit. His income and assets are more than sufficient for a much higher limit. He has no debt.

He's 83. My wife and I have had our cards for 15 years and I really have know idea where to begin looking for one for my dad or why he's having trouble finding one with a reasonable limit. He'd like one that builds American Airline miles (yards, I know, but he still has some) or Delta.

Best to just start with whatever one has the best perks for him (miles, cash back, etc), don't worry about the limit. The company will off him a higher limit after a little while or others will decide to extend him a higher limit.

Where does he bank, check with them, if he has substantial assets there, and previous credit history such as a home loan.

He needs to get one, use it, pay it off, go out buy dinner, buy his weekly groceries from say Kroger and have them delivered, pay the balance off for a few months to build up a credit record.

If he has nothing now, get him the $1000 limit card and go from there.
His bank may give him one based on his deposits they hold and any other info they have.

He might need to join a credit union and they could help him.

Needs or wants? Not trying to delve too far into the answer other than him being honest with himself and answering the question. Not saying there is a wrong answer. Having the answer might assist in finding the best card.

I mean for example, wants a credit card because he wants to make a purchase now instead of later or needs a credit card to make going through life easier by allowing a single account to roll finances through for easier accounting.

Why is a $1000 limit such a drag? Remember back in the day when $250 was an option?

My intent isn't to find fault, I'm trying to help from a different perspective....

I imagine the limit is based on ability to repay, with some underlying assumptions about being on social security and having no other income. Not sure, given the application requires a statement of monthly income.

There are places like nerdwallet and similar that offer competitive credit card info…wonder if those sites would help identify better banks.

He needs to get to know the branch manager of a local bank or credit union. In addtion go with the 1000 dollar limit whereever he can get it.

I find it hard to believe that they would only give him a thousand with an 830 credit score.

I would get something with a cash back. Miles seem to be a screw job with all of the conditions they place on them

I just applied for a amazon prime card and they gave me 16k in five minutes.

Please post back when you have a solution. Thanks

Try the Apple Card. We applied on a lark and they threw a 17k credit limit our way. They also have some interesting security features.

The cards were in your mother's name, but his credit score is 830? And with this, he can only get a $1000 limit? This isn't adding up. They should be tripping over each other to give him a card. But if this is correct, why not just take that $1000 and run with it? Buy groceries, gas or whatever with it and pay at least the month-end statement balance on time, and they will raise the limit. And unless he really does fly frequently, an airline miles card isn't very useful. There are hundreds of card issuers with cash-back-type incentives.

My personal highest-limit card ($6900, and at the time my credit score was "only" in the 700s) was obtained through my local credit union. Perhaps he should consider joining one of those. One final note:



Is there any chance at all that he doesn't truly understand what he is being told?

He can't get a debit card from where he banks ?

All good info, Does your dad know folks at his bank? If so, he (or you) might ask a manager to set him up, since they’ve dealt with your Ma & Pa before.

Best of luck, you’re good son!

Add him as an authorized user on one of your credit cards. That way when they run his credit they'll see your card as "his."

If you have a Discover that would be my first choice as they update their AU rolls every Friday.

It's not an income, assets, or ability to repay issue. My dad was always worried he'd die first and there is nothing I don't know about their finances. He wanted me to be able to help my mom if he passed first.

Hard to rack up any miles with a $1,000 limit. On the other hand, the cash back suggestion is a good one. I don't think he'll be doing much flying any more. Miles is what he's always done, so I think that's why he's thinking miles. Even going cash back, it wouldn't be worth it with a $1,000 limit. The lowest limit on the cards my mom had was $30,000. He charged everything and payed them off every month, always.

He's been banking with Northern Trust for at least 30 years. I was under the impression they didn't offer credit cards. Maybe that's changed. Along with the attorneys and Pastrami Dan's, we can talk to his personal banker when we are in Naples on Thursday.

quote:

Originally posted by egregore:
Is there any chance at all that he doesn't truly understand what he is being told?

There is, which is part of the reason I'm asking. Knowing what I know about his finances, I don't have a clue why he is having a problem getting a credit card. I guess I'm trying to understand if everyone has these problems or is it specific to something my dad is doing or not doing.

I talk to him everyday and see him at least 4 days a week. He's sharp when he stays on track. But change something up, and it takes awhile for him to catch up. For lack of a better way to describe it, it's kind of Rainman like.

For example, we went to the attorneys office to make changes to various documents that referenced my mom. For the first hour, he was in the ball and completely understood everything. The second hour, there were points where the attorney would explain why something was written a particular way and it made perfect sense to me, but it took my dad some extra time to understand.

How about Amex. No credit limit.

At 83 he’s held it together pretty good. I’m 75 and sometimes I forget what I was looking for.

Gettin’ old.

Help him online with the Wells Fargo 2% Rewards Card. I think it starts at 4k.