 Andrew Fugal was on his way to a new client site, when he was mugged. Samantha received a scholarship that did not cover the cost of her college textbooks. After buying a new home, Allison Devlin depleted her banking account to pay closing costs. All of these people were victims of situations beyond their control. Nevertheless, all the above-mentioned scenarios could be solved, simplified or managed through the convenience of an emergency credit card.
Sometimes unforeseen situations require expenses that were not accounted for in one’s budget. It could be the financial inconvenience of paying to repair a car’s transmission, purchasing a new laptop or paying for the inflated cost of college textbooks. Dire situations require the availability of an emergency credit card (ER CC).
After buying a new home, Allison Devlin was not financially prepared to pay $1200 to repair the transmission of her two-year old Acura. Fortunately, she had the hindsight to have an emergency credit card for surprise expenditures. Armed with a low APR credit card from Chase with a special discount on automobile services Allison was able to charge the repair and pay the balance of the credit card over the course of three months with minimal interest rate fees.
 Emergency credit card tip: Instead of being penalized for taking money out of a money market or IRA, an emergency credit card can serve as a lifesaver during a financial crunch. Always maintain one credit card without a balance and a minimum of $2000 worth of available credit. Consumers who do not have a balance-free credit card should apply for one—even if they never plan to use it. An emergency credit card will enhance one’s purchasing power and can serve as a lifesaver.
Emergency Credit Cards for College Students
When the Casey’s sent their daughter, Paige away to UCLA for school, they were so proud that she had earned a scholarship - that they neglected to inquire whether it covered the cost of her books. Unfortunately, her parents never figured anything more than maintaining a bank account with a $200 withdrawal limit. If only Paige had signed up for a credit card, she would have been able to complete her first two days of class assignments, on time.
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