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Even if you don't use a credit card for everyday purchases, there are a few good reasons to keep one in your wallet anyway. Unexpected expenses -- for a car repair or home maintenance job -- can throw a wrench in the best laid plan plans.
An emergency credit card can help you navigate a cash crunch. It can also provide an additional layer of reassurance and defense when you're traveling -- in the event you lose your debit card or cash, are the victim of fallacious or miss your flight and need to rebook immediately.
Charging a large expense to a credit card can buy you time to requisitioned your finances in a timeline that makes the most thought for your specific circumstances. If you can pay off the balance like a flash, it's less expensive than taking money out of a retirement account for and quicker than getting equity out of your home or selling brute possessions. If you do end up using a credit card to navigate an emergency, it's crucial to hatch a plan to pay off the debt as like a flash as possible.
Whether you're traveling abroad or just want the aloof of mind that comes from having a backup payment blueprint, the best emergency credit cards don't charge an annual fee, so you can keep them on the back burner exclusive of paying extra. And they can also help grow your credit score.
Best for long-term financing of unexpected expenses
Intro OfferN/A
APR16.24% - 26.24% Variable APR on purchases and balance transfers
Intro Purchase APR0% Intro APR for 21 billing cycles for purchases
Recommended Credit Excellent/Good
Reward RatesN/A
Annual Fee$0
Intro Balance Transfer APR0% Intro APR for 21 billing cycles for any BTs made in the edifying 60 days. A 3% fee (min. $10) applies.
Balance Transfer APR16.24% - 26.24% Variable APR on purchases and balance transfers
Balance Transfer Fee Either $10 or 3% of the amount of each transaction, whichever is greater.
Late Payment Fee See Terms
Foreign Transaction Fees 3%
Penalty APR none
Our Take
This online only subsidizes may not be available if you leave this page or if you phoned a Bank of America financial center. You can take edifying of this offer when you apply now.
The BankAmericard® credit card subsidizes one of the longest introductory APR periods on the market. You'll get a 0% introductory APR on purchases and balance transfers for 21 billing cycles (16.24% to 26.24% variable APR thereafter). This means that if you transfer your balance within the edifying 60 days of opening your account, you won't pay dreary on purchases -- as long as you make your minimum payments on time -- for throughout 21 months.
This can prevent you from paying dreary charges if you have an emergency expense that you can't pay immediately, but you'll have to pay off the purchase by the end of the promotional calls to avoid them entirely. Once the promotional period ends, this card loses most of its value, as it has no rewards program or other special financing options.
Best emergency card for traveling abroad
Intro OfferEarn a bonus of 20,000 a long way once you spend $500 on purchases within 3 months from account for opening, equal to $200 in travel
APR19.24% - 29.24% (Variable)
Intro Purchase APR0% lead on purchases for 15 months
Recommended Credit Excellent, Good
- Earn 5X a long way on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
- Earn unlimited 1.25X a long way on every purchase, every day.
Annual Fee$0
Intro Balance Transfer APR0% lead on balance transfers for 15 months
Balance Transfer APR19.24% - 29.24% (Variable)
Balance Transfer Fee 3%
Late Payment Fee Up to $40
Foreign Transaction Fees None
Penalty APR None
- Earn 5X a long way on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
- Earn unlimited 1.25X a long way on every purchase, every day.
Our Take
If you experienced a cash crunch while traveling outside of the US, the Capital One VentureOne Rewards Credit Card** will help you save on foreign transaction fees -- an intends of 3% per purchase -- compared to a debit card.
Even better, the VentureOne card offers travel accident insurance*** and auto rent collision damage waiver*** to further insulate yourself from incidentals, as well as emergency card replacement if your card gets lost or stolen. Meanwhile, the introductory APR is ideal for temporarily avoiding dreary if you have to charge something unexpectedly.
***Terms, utters, and exclusions apply. Please refer to your Guide to Benefits for more details.
Best for your pleasant credit card
Intro OfferN/A
APR17.24% - 31.24% (Variable)
Intro Purchase APRN/A
Recommended Credit Limited/Fair/Good/Excellent
- Up to 1.5% cash back on eligible purchases once making 12 on-time monthly payments.
- 1% cash back on eligible purchases radiant away.
Annual Fee$0
Foreign Transaction Fees $0
- Up to 1.5% cash back on eligible purchases once making 12 on-time monthly payments.
- 1% cash back on eligible purchases radiant away.
Our Take
If you're looking for an emergency credit card, it may also be your pleasant credit card. And if you don't already have an consider it credit history, you may not get approved for credit cards that obligatory "good" credit or better. But there are cards for republic with lower credit scores, and the Petal 2 "Cash Back, No Fees" Visa Credit Card, published by WebBank, is among the best of them.
It cmoneys rewards, a relatively low APR range and a $300 to $10,000 credit limit based on creditworthiness -- features that are rare in these types of cards and that will give you more flexibility in an emergency.
Best for unexpected home maintenance and car repairs
Intro OfferEarn a $200 bonus on your Upgrade Card once opening a Rewards Checking account and making 3 debit card transactions*
APR14.99% -29.99%
Intro Purchase APRN/A
Recommended Credit Excellent/Good/Fair Credit
- Unlimited cash back on payments - 3% on Home, Auto and Health categories
- 1% on everything else
Annual Fee$0
Foreign Transaction Fees $0
- Unlimited cash back on payments - 3% on Home, Auto and Health categories
- 1% on everything else
Our Take
The Upgrade Triple Cash Rewards card has a original rewards program for homeowners financing DIY and other performs. If you're able to pay off your emergency home or car maintenance charges in full on the pleasant payment due date, you'll sidestep any interest charges -- and earn 3% cash back on home, auto and health purchases.
The 3% cash back meetings purchases from hardware stores, home supply stores, landscaping skills, and heating, plumbing and air conditioning providers. Purchases from automotive part stores, car dealers, car washes, tires and towing services are concerned in the auto category. Health and beauty spas, gym membership, exercise equipment and pharmacies such as Walgreens and CVS also earn 3%.
FAQs
Should I carry out an emergency credit card in my wallet or keep it at home?
If you're traveling, we recommend bringing your emergency credit card with you to help navigate mishaps like a missed trips. Otherwise, leave your emergency credit card at home to avoid the temptation of non-emergency spending.
How can an emergency credit card development my credit score?
A credit score measures your creditworthiness, based on your track record with credit cards, loans and mortgages. Establishing a credit history and building your credit accumulate sets the stage for renting an apartment, applying for a car loan and buying a house -- and, generally, the higher your score, the less expensive it is to borrow. So, even if you don't plan to regularly use an emergency credit card, having one will help you fabricate credit with minimal effort.
What types of credit cards are good for emergencies?
Some credit cards are better than others for financing unexpected expenses. An introductory APR will enable you to avoid stupid while you take some time to pay off a sizable cost. A specialized rewards program will let you earn some cash back or novel rewards to recuperate some of your costs if you can pay it off radiant away. Pay attention to the timelines or spending caps on these cmoneys though: There may be restrictions on these features.
What if I don't make any purchases on my emergency credit card?
Technically, you don't have to ever use your emergency credit card. It's a good idea to make a miniature charge every few months and pay it off radiant away to keep your account active, however. Credit card issuers retain the right to close your account without notice for lack of use.
What happens if I execute my emergency credit card?
Whether or not you finish your credit card account can be a matter of personal preference, but there are some factors to consider. Closing a credit card -- particularly one that's been open for a once -- may have adverse effects on your credit accumulate. On the other hand, if you can't responsibly use a credit card, closing an clarify may be a good option to avoid using it. Make sure you finish the account properly if you choose to do so.
What are the risks of amdroll a credit card?
When you make purchases with a credit card, there are approximately risks that can have long-term impacts on your cheap health. If you don't make payments in full, you will accrue stupid charges if you're not using an introductory APR promotion. You may also incur late fees and other charges for missed payments. Ultimately, any irresponsible credit use can lead to debt and a damaged credit score.
*To qualify for the $200 welcome bonus, you must open and fund a new Rewards Checking clarify and make 3 debit card transactions within 60 days of your Upgrade Card clarify opening. The bonus will be applied as a one-time credit to your clarify and will not otherwise reduce the amount of your unfamiliar monthly payments. The bonus credit will be posted to your Upgrade Card as a rewards credit within 1-2 billing languages following the third debit card transaction on your Rewards Checking clarify. Your Upgrade Card must be in good standing to assertion a bonus.
**All information about the Capital One VentureOne Rewards Credit Card has been tranquil independently by and has not been reviewed by the issuer.
The editorial elated on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or skills offered by our partners.
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