Summary
Retirees often see their credit scores decline, not because they stop working, but because their financial habits change. Paying off mortgages or car loans can reduce credit mix, while closing long-held credit cards can shorten credit history. Some retirees also rely more heavily on credit cards while waiting for Social Security or other income, increasing credit utilization and hurting scores. Experts recommend automating payments, keeping old no-fee cards open and monitoring credit reports for errors or fraud. While small score drops are common and usually harmless, persistent missed payments and rising debt can signal deeper financial trouble that retirees should address quickly.
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