Why Maintaining Good Credit is Important in Retirement

Establishing — and maintaining — good credit is not just a concern for the young. As Finance Buzz reports, it’s important that retirees maintain good credit as well.

While you may not be planning any big-ticket purchases, like a house, you still shouldn’t ignore your credit score. Among other things, the article points out that a good credit score can save you money. Utility companies, including cell phone and internet providers, check your credit score and if it’s too low you might be charged higher rates — or denied service. The same goes for insurance companies.

The Seniors Trust is committed to improving the financial well-being of America’s retirees through passage of The Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, a fair annual cost-of-living adjustment (COLA) and increased minimum benefits.