Emergencies never come with a courtesy alarm. Luckily when crises bump, having the best credit cards for emergencies can come to the rescue. Absolutely! You can easily overcome any unforeseen crisis with an emergency credit card.
But is it possible for everyone to have an emergency fund? Everyone can’t do so as they can’t save that much.
Every penny they earn is spent on their basic living. With that in mind, you should have a credit card that is quickly accessible, even with bad credit.
Is Using a Credit Card as an Emergency Fund Risky?
Using credit cards for emergencies is not supportable in the long run. But it is also true that you may have to make emergency credit card expenses at times in life. Also, the credit card emergency fund can avoid making a bad situation worse.
Nonetheless, it’s okay to use a credit card as an emergency fund. But you need to have the cash to pay off the balance before interest starts accumulating. Otherwise, it will put you at risk of going into debt.
10 Best Credit Cards for Emergencies of 2022
You can get an emergency loan fast with the best emergency credit card. This article singled out the top 10 best credit cards for emergencies. Let’s take a look!
1. U.S. Bank Visa® Platinum Card
The U.S. Bank Asia includes no annual fee but offers an extended intro APR rate on balance transfers. This card is our best choice because of 0% interest on new purchases and balance transfers for 20-billing cycles.
A regular APR of 14.49% – 24.49% is variable thereafter. You may not earn any rewards with this visa card. But to repay the loan or forgo interest on new purchases.
Overall, this card deserves a place in your wallet as one of the reliable credit cards for family emergencies. It will provide a prolonged 0% interest cushion for an emergency.
2. Chase Freedom Flex℠
You will get cashback on every purchase with Chase Freedom Flex℠. Also, it’s a well-rounded card that provides a 15-month introductory APR on purchases and balance transfers.
All these have been available for over one year. What’s more, it offers a $0 annual fee. The cardholders get 5% cashback in combined purchases up to $1500 in bonus categories for each quarter.
Plus, you could earn 5% cashback on Chase travel purchases through Chase Unlimited Rewards. 3% cashback available on dining and drugstore purchases. Also, 1.5% cashback on everything you buy on up to $20000 spent in the 1st year.
3. Surge MasterCard®
Surge MasterCard may charge you several fees such as annual, monthly, additional card, penalty fees, etc. But, it also comes with some essential benefits, including $0 fraud liability and cash advances.
Cash advances are available after 95days of account opening. If you make payments timely, your card limits may increase. This means it is one of the excellent credit cards for first responders that allows payments to check the status online.
4. The Amex EveryDay® Credit Card from American Express
The Amex EveryDay credit card is always there when you need a credit card ASAP. You can use it instantly after approval. The Amex EveryDay cardholders can earn 2x points per dollar on purchases from U.S. supermarkets, on up to $6000/year.
Then, 1x points per dollar spent on other purchases. The Amex card includes 0% introductory APR on new purchases, which lasts for 15-months. There are no annual fees and also rewards for any purchases. A variable APR of 12.99% -23.99% applies after the introductory period is over.
5. American Express® Green Card
The American Express® Green Card is an attractive option with considerable rewards on transit, travel, and dining purchases. There’s no fee for foreign transactions. However, the cardholders can earn 50,000 points as a welcome bonus.
Then, earn 3x membership reward points at restaurants worldwide, travel, and 1x on other purchases. But, there is no intro APR offer and balance transfer. A variable 15.99% – 22.99% applies on purchases. Unlike others, the annual fee is high.
6. CareCredit® credit card
CareCredit is a widely used credit card for medical bills. Synchrony Bank issues the card. Moreover, it offers a great financial option for medical, dental, and veterinary services, like- surgical procedures, hospital care,
You can enjoy these services from over entire 250,000 healthcare providers. Moreover, you get 0% intro APR for 6, 12, 18, or 24 months on $200-$999.
7. Discover it® Student Cash Back
The Discover it card is best for cashback offers. You get 5% cashback on everyday purchases at places including grocery stores, gas stations, restaurants, and Amazon.com. Also, you will automatically receive 1% unlimited cash back on other purchases.
Discover will match all your earned cashback offers at the end of the first year. So then you can convert $50 into $100. However, there are no maximum rewards or minimum spending included in the card. Like others, it offers a $0 annual fee and 0% intro APR on purchases for 6 months.
8. Ink Business Cash® Credit Card
Ink Business Cash credit card is a great help for emergencies in businesses. It offers attractive cash rewards for massive business-related spending. The card allows you to earn a $750 bonus after spending $7500 in the 3 months from account opening.
Moreover, you can get 5% cashback in combined purchases on the first $25000 spent. You can get this cashback for purchases at cable and phone services, supply stores, and the internet.
Then, you can earn 2% cash on the first $25000 spent at restaurants and gas stations. You can earn 1% cashback on other purchases with no limit to your earned amount. Above all, it has no annual fee and 0% Intro APR for 12-months on purchases.
9. Capital One® Walmart Rewards® Card
If you often shop from Walmart or primarily online, Capital One has excellent rewards for you. You can earn up to 5% cashback on purchases. Also, you can earn 2% cashback at travel and restaurants. Though the APR rate is high, no annual or foreign transaction fees are included.
10. PenFed Platinum Rewards VISA Signature® Card
The last one in the list provides a rational cash advance APR of 17.99%. There is no such thing as a cash advance fee. Conversely, other credit cards often come with a cash advance APR above 25.99%.
Furthermore, you get 3% or 5% advance fees on each transfer amount. It charges a $0 annual fee. When paid on EV charging stations or gas pumps, it’s possible to earn 5x points. Similarly, 3% at supermarkets, radio, TV, cable, and restaurants.
Plus, 1% on other purchases. When you spend $1500 in the first 90 days, you can get 15000 bonus points. The members get access to extra savings and other special offers.
Final Words
Preferably, having an emergency fund is the best way to cover sudden expenses. But, the best credit cards for emergencies can save you from unforeseen obstruct. If such an unexpected crisis requires you to take on debt, you should buy one.
Therefore, we assembled a list of credit cards for family emergencies and others. These credit cards won’t charge you interest for a long introductory period. Also, these don’t have annual fees, so you don’t have to worry about debt.
FAQ
Should I Get a Credit Card for Emergencies?
It's okay to have the best emergency card for crises. You should get one if you can pay off the balance before adding interest. Hence, using a reward credit card with an extended interest-free Intro period is advisable.
What Should I Look for in an Emergency Credit Card?
First, you should look at the Intro APR period and introductory interest rates. Then consider annual fees, cashback, rewards, etc.
What Credit Card Can I Get Quickly?
What are the Benefits of a Credit Card?
A credit card comes with benefits like convenience, rewards, building credit, financing large purchases, emergency purchasing, etc. Before you use a credit card, note that credit cards act as a loan. You need to pay back the balance.
Is It Better to Keep Cash at Home or Bank?
It is wise to keep your cash in the bank than at home. There is always a security threat at home while the bank is absolutely safe. However, banks carry insurance that lets you recover the money in fraudulent withdrawals.
