Best 'Emergency' Credit Card?

Paul72_2

Hi, 1st time post.

I've recently become debt free (thanks to a nice redundancy package). It feels really good!
After paying off all of my credit cards, I have kept one for emergencies. But I now think it would be better to close it (BOS 23%APR) and get a new one. Question is, what is the best card to sit on that probably won't get used for a while? I already have savings to buy a new house in around a year (tied up in an ISA) but I need something for emergencies?
Can anyone advise?

sicker

I use Egg Money. Keep its balance positive on which I get 4% added monthly and 1% cash back on all spending (which could amount to a lot on your new house purchases) paid out once a year in March.

John

trets77

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MrChips

Which is the best card for you depends on how you will use it!

If you will be able to pay off your "emergency" by the end of the relevant month, then go for one which offers good cashback (see Martin's cashback article).

If you won't be able to pay it off in the same month, go for one with a low APR.

Other factors such as introductory 0% offers won't be applicable to you as the chances are you won't use it for a few months, if ever.

Jump to Martin's credit card menu and browse through all the articles, and see which cards suit your circumstances.

You may also want one that has an internet account facility for ease of use.

Paul72_2

Cheers everyone. Many thanks.

JoseChungsDoomsday

always use an 'emergency' card once a year or the company may close it down!

Magic_Dragon

I use Egg Money too. Initially got it for buying things when we bought our house. Have earned about £75 so far this year in cash back and interest - not bad for free!

I have kept it for emergincies too. It is not the lowest APR around, but the Egg user friendly website makes up for that.