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An emergency credit card can help you through a cash crunch, protect you while traveling and build your credit.
Jaclyn is a CNET Money editor who relishes the sweet spot between numbers and words. With responsibility for overseeing CNET's credit card coverage, she writes and edits news, reviews and advice. She has experience covering business, personal finance and economics, and previously managed contracts and investments as a real estate agent. Her tech interests include Tesla, SpaceX, The Boring Company and Neuralink.
CNET editors independently choose every product and service we cover. Though we can't review every available financial company or offer, we strive to make comprehensive, rigorous comparisons in order to highlight the best of them. For many of these products and services, we earn a commission. The compensation we receive may impact how products and links appear on our site.
We are an independent publisher. Our advertisers do not direct our editorial content. Any opinions, analyses, reviews, or recommendations expressed in editorial content are those of the author’s alone, and have not been reviewed, approved, or otherwise endorsed by the advertiser.
To support our work, we are paid in different ways for providing advertising services. For example, some advertisers pay us to display ads, others pay us when you click on certain links, and others pay us when you submit your information to request a quote or other offer details. CNET’s compensation is never tied to whether you purchase an insurance product. We don’t charge you for our services. The compensation we receive and other factors, such as your location, may impact what ads and links appear on our site, and how, where, and in what order ads and links appear.
Our insurance content may include references to or advertisements by our corporate affiliate HomeInsurance.com LLC, a licensed insurance producer (NPN: 8781838). And HomeInsurance.com LLC may receive compensation from third parties if you choose to visit and transact on their website. However, all CNET editorial content is independently researched and developed without regard to our corporate relationship to HomeInsurance.com LLC or its advertiser relationships.
Our content may include summaries of insurance providers, or their products or services. CNET is not an insurance agency or broker. We do not transact in the business of insurance in any manner, and we are not attempting to sell insurance or asking or urging you to apply for a particular kind of insurance from a particular company.
In a digital world, information only matters if it's timely, relevant, and credible. We promise to do whatever is necessary to get you the information you need when you need it, to make our opinions fair and useful, and to make sure our facts are accurate.
If a popular product is on store shelves, you can count on CNET for immediate commentary and benchmark analysis as soon as possible. We promise to publish credible information we have as soon as we have it, throughout a product's life cycle, from its first public announcement to any potential recall or emergence of a competing device.
How will we know if we're fulfilling our mission? We constantly monitor our competition, user activity, and journalistic awards. We scour and scrutinize blogs, sites, aggregators, RSS feeds, and any other available resources, and editors at all levels of our organization continuously review our coverage.
But you're the final judge. We ask that you inform us whenever you find an error, spot a gap in our coverage, or have any other suggestions for improvement. Readers are part of the CNET family, and the strength of that relationship is the ultimate test of our success. Find out more here.
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 financial plans.
An emergency credit card can help you navigate a cash crunch. It can also provide an additional layer of reassurance and security when you're traveling -- in the event you lose your debit card or cash, are the victim of fraud or miss your flight and need to rebook immediately.
Charging a large expense to a credit card can buy you time to rearrange your finances in a timeline that makes the most sense for your specific circumstances. If you can pay off the balance quickly, it's less expensive than taking money out of a retirement account and quicker than getting equity out of your home or selling physical 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 quickly as possible.
Whether you're traveling abroad or just want the peace of mind that comes from having a backup payment method, the best emergency credit cards don't charge an annual fee, so you can keep them on the back burner without paying extra. And they can also help grow your credit score .
This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
The BankAmericard® credit card offers 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 (14.24% to 24.24% variable APR thereafter). This means that if you transfer your balance within the first 60 days of opening your account, you won't pay interest on purchases -- as long as you make your minimum payments on time -- for about 21 months.
This can prevent you from paying interest 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 period 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.
Intro Offer: Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel
Intro Purchase APR: 0% intro on purchases for 15 months
If you experience 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 average of 3% per purchase -- compared to a debit card.
Even better, the VentureOne card offers travel accident insurance** and auto rental 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 interest if you have to charge something unexpectedly.
**Terms, conditions, and exclusions apply. Please refer to your Guide to Benefits for more details.
Intro Purchase APR: N/A
Recommended Credit: Limited/Fair/Good/Excellent
If you're looking for an emergency credit card, it may also be your first credit card. And if you don't already have an established credit history, you may not get approved for credit cards that require "good" credit or better. But there are cards for people with lower credit scores, and the Petal 2 "Cash Back, No Fees" Visa Credit Card, issued by WebBank, is among the best of them.
It offers 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.
The Upgrade Triple Cash Rewards card has a unique rewards program for homeowners financing DIY and other fixes. If you're able to pay off your emergency home or car maintenance charges in full on the first payment due date, you'll sidestep any interest charges -- and earn 3% cash back on home, auto and health purchases.
The 3% cash back covers purchases from hardware stores, home supply stores, landscaping services, and heating, plumbing and air conditioning providers. Purchases from automotive part stores, car dealers, car washes, tires and towing services are included in the auto category. Health and beauty spas, gym membership, exercise equipment and pharmacies such as Walgreens and CVS also earn 3%.
If you're traveling, we recommend bringing your emergency credit card with you to help navigate mishaps like a missed flight. Otherwise, leave your emergency credit card at home to avoid the temptation of non-emergency spending.
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 score 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 build credit with minimal effort.
Some credit cards are better than others for financing unexpected expenses. An introductory APR will enable you to avoid interest while you take some time to pay off a large cost. A specialized rewards program will let you earn some cash back or other rewards to recuperate some of your costs if you can pay it off right away. Pay attention to the timelines or spending caps on these offers though: There may be restrictions on these features.
Technically, you don't have to ever use your emergency credit card. It's a good idea to make a small charge every few months and pay it off right away to keep your account active, however. Credit card issuers reserve the right to close your account without notice for lack of use.
Whether or not you close 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 while -- may have adverse effects on your credit score. On the other hand, if you can't responsibly use a credit card, closing an account may be a good option to avoid using it. Make sure you close the account properly if you choose to do so.
When you make purchases with a credit card, there are several risks that can have long-term impacts on your financial health. If you don't make payments in full, you will accrue interest 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 account and make 3 debit card transactions within 60 days of your Upgrade Card account opening. The bonus will be applied as a one-time credit to your account and will not otherwise reduce the amount of your regular monthly payments. The bonus credit will be posted to your Upgrade Card as a rewards credit within 1-2 billing periods following the third debit card transaction on your Rewards Checking account. Your Upgrade Card must be in good standing to receive a bonus.
The editorial content 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 services offered by our partners.