Retirees aged 65 and above can use their CPF LIFE payouts as a valid source of income when they apply for unsecured credit card facilities.
PHOTO: REUTERS
- Retirees aged 65 and above in Singapore can use their CPF LIFE payouts or other income sources to qualify for unsecured credit cards if they meet the $15,000 annual income threshold.
- Credit cards offer retirees convenience, cash rebates, and the ability to manage payments like insurance premiums, but require careful spending to avoid debt traps.
- Experts advise retirees to hold no more than two credit cards and to pay their balances in full and on time to avoid high interest charges and financial risks.
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