Citibank denies credit cards to Sweden’s elderly
As part of Citibank’s risk-assessment policy in Sweden, credit card applications for consumers over the age of 75 will be turned down, according to UPI. The credit card issuer confirmed the policy, saying that “those are the rules.”
Hampus Stenberg, Citibank’s head of information in Sweden, said that this type of policy was not unusual, according to Swedish news agency Tidningarnas Telegrambrya. When asked about the policy, Stenberg said it was “impossible to know how long people will live once they turn 75.” According to recent statistics, however, the average life expectancy for Swedish women is almost 83 and men almost 79.
Requests made to Citibank about similar policies existing in the United States were met with the following response: “Age is not a factor when approving credit card applications, unless the applicant is a minor,” says a Citi spokesman.
See related: 11 ways seniors can mop up credit card debt