4 Good Reasons for Retirees to Maintain Strong Credit

A good credit score may come in handy when you — and others — need it most.

(Image credit: danielfela)

Most people try to be debt-free by the time they retire. As you start to draw down your savings, you may find you’re no longer using credit at all. Almost half of baby boomers say that they believe their credit score will be less important after age 70, according to a recent survey from credit reporting agency TransUnion.

But even if you don’t expect to borrow money, you have good reasons to maintain a strong credit profile. Here are some:

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Lisa Gerstner
Editor, Kiplinger Personal Finance magazine

Lisa has been the editor of Kiplinger Personal Finance since June 2023. Previously, she spent more than a decade reporting and writing for the magazine on a variety of topics, including credit, banking and retirement. She has shared her expertise as a guest on the Today Show, CNN, Fox, NPR, Cheddar and many other media outlets around the nation. Lisa graduated from Ball State University and received the school’s “Graduate of the Last Decade” award in 2014. A military spouse, she has moved around the U.S. and currently lives in the Philadelphia area with her husband and two sons.