Whats the best emergency credit card

wooders

You know, the oh poo I need £3k now and I have no alternatives.

I'd like to know if any experts know what cc is the best for these circumstances. It would probably sit in my wallet untouched unless I needed to pay for something urgently. I'm guessing a low interest card....but which one, or one that will give me something just for joining.

i thank you in advance:T

dhassen

I'd go to moneysupermarket.com and do a search for credit cards with 'low standard rates'

jimbo26

Lowest standard rate.

Moggles_2

The trouble with standard rates is they're variable. The card company could decide to raise the rate at any time and, all of a sudden, your carefully chosen credit card becomes rather too expensive to use as a stand-by:eek:

Forgive me, but I can't help wondering why you're considering a credit card for this purpose. Wouldn't you be better off setting some cash aside each month in a no-notice cash ISA or high-interest savings account? In the time it takes to build a credit rating, research the market and apply, you could have an emergency cash fund, which is free to use.

I love my credit cards. Used sensibly, they can save you lots but, IMO, you do have to use them in order to reap the benefits.

CannyJock

wooders wrote: »

You know, the oh poo I need £3k now and I have no alternatives.

I'd like to know if any experts know what cc is the best for these circumstances. It would probably sit in my wallet untouched unless I needed to pay for something urgently. I'm guessing a low interest card....but which one, or one that will give me something just for joining.

i thank you in advance:T

How about a 0% purchase card? The 0% period is only for an introductory period, but if you've no other cards and don't otherwise carry a balance then you could always renew them each year, cancel the old one and stay on 0% for as long as you can get offers.

How long would it normally take you to clear the balance on these urgent purchases?

wooders

moggles has a point, maybe I'm getting carried away with this site!!!

Richard019

How about the Virgin card with the 15 months 0% on BTs? Transfer the money to your current account and put in an ISA. That way the money is available to you instantly for your 2.98% fee, and in the event you don't use it you'll have made a somewhere in the region of 4.5%-5% profit* and can just pay the money back and start again with another card (or the same one if the existing customer's offer is good enough).

*based on Barclay's current ISA promotion giving 3.5% profit on 12 months and then 1.4% (the lower 5.5% non promotional rate applies after a year) for the final 3 months.

jackiesmiling

maybe I'm getting carried away with this site,too