I am retired. When I apply for credit does this hurt me or help me? Does my score decrease or increase. Is age a factor also? Older=Higher Score or Older=Lower Score ?????????
Rumor has it anyone 50+ is a safer bet for creditors because of the established credit history and those over 50 are deemed (by the credit card companies) more responsible. When applying for credit several items are taken into account - income, previous credit standing, inquiries, etc. These factors also contribute to your score decreasing and increasing. Hope this helps. Dani
