topic Re: Best fixed apr credit card to have for emergencies? in Credit Cards

Best fixed apr credit card to have for emergencies?

Outbackexplorer — Mon, 12 May 2025 03:03:49 GMT

Recently in a post I saw someone point out an interesting card that most people wouldn't think about at first glance.

The NFCU Platinum card. What made this one special was a combination of factors

Possibility for very low apr, as little as 11%
No balance transfer fees
easy to get high limits
No cash advance fee

Having a card like this can be great if you run into a hard time. Of course there's always the option of opening a new card with a 0% intro apr period and balance transfer, but that has a couple problems of its own. For one, you don't know what sort of limit you'll get, if you get a low one it might not be that helpful. For another you may not even be approved at all, especially if your situation deteriorates in such a way that you're already carrying high balances when you realize you're in trouble and need more, and then you might have to wait a week or two for the card to actually be shipped to you. Personal loans carry a similar risk, and some of the lower APRs you can get on certain credit cards actually beat the average personal loan rate.

Sadly NFCU recently had a policy change and you can't request lower APRs on their cards anymore. This means it's a gamble if you get a higher or lower number in the apr range, and once you get it you're stuck with it, so it's hard to justify now imo.

So I'm wondering, what are some other good options? The ideal would be something fixed low rate, available nationwide or at least in many states, known to give high limits and/or known to give good CLIs, known to not slash limits for limited use, no balance transfer fee, and less important but nice to have would be no cash advanced fees. Of course if it had a SUB or earned rewards that would be even better, but less important for the types of cards that these are.

Personally if there's a good one I'd like to go for it sometime in the future, just to have as an emergency oh no button, to hopefully never have to use (beyond putting a little spend on to keep it open).

Re: Best fixed apr credit card to have for emergencies?

galahad15 — Mon, 12 May 2025 13:59:31 GMT

Unfortunately, as far as I am best aware and to the best of my current knowledge, all of the fixed-rate cards that are still out there (i.e., Unify FCU, Premier America FCU, etc.) have gradually been increasing their fixed rates so that they are now mid-range, double-digit rates on or around 15% F or thereabouts. While there are some credit unions who have left their older, formerly single-digit rates grandfathered for existing cardholders who were approved for them when the rates were lower in the past (i.e., PACU, Dover FCU, some others), this is by no means universal and other CUs can and have increased fixed rates

I'm genuinely sorry as I truly wish that I had better news to give

Re: Best fixed apr credit card to have for emergencies?

dfwxjer — Mon, 12 May 2025 15:23:27 GMT

You want an issuer to release a low profit product, that you don't intend to use aside from an emergency scenario, and you want low interest rate and possibly rewards? In addition, you want to transfer other credit card balances for no fee, pay no interest, and you want to be able to do cash advances with no fee while simultaneously being granted large credit limits that the issuer has to account for.

What you're describing is an emergency fund savings account. Credit cards are not emergency savings accounts and your fundamental understanding of credits cards is extremely flawed.

Re: Best fixed apr credit card to have for emergencies?

ptatohed — Mon, 12 May 2025 15:27:50 GMT

Credit cards should always be PIFed, as I know you know. In an emergency, you could look for a card that has no cash advance fee.

Re: Best fixed apr credit card to have for emergencies?

Drifter73 — Mon, 12 May 2025 15:56:29 GMT

As others pointed out, savings is for emergencies and CCs should be PIF. In a perfect world situation.

However, it's not a perfect world and credit is something leveraged in an emergency.

With that said, you may need an emergency card deck (not just one).

Credit unions are generally the best for lowest interest. So if that's what you're after, get a couple credit union platnums.

I have x3 credit union platinum and make sure at least 2 of them are PIF so I have them in an emergency (low 11% to 14%apy).

I also have a great five-figure limit on the CareCredit card for a medical emergency (6 to 24mo 0%).

My emergency card deck also has the myWalgreens credit card for emergency supplies, prescriptions, etc.. (10%cb + discounts)

I have x3 different cards with 5% cb on groceries and gas. Which i make sure at least 2 are PIF in case of emergency. Note: The target red card doubles as an emergency backup grocery card since they sell food and fresh produce. That's always pif, so it's always available in an emergency.

My bestwestern card always has at least 90k points available in case of emergency hotel stay needs.

Everyone does it differently and has different emergency needs.

In my personal opinion, I think just 1 card isn't enough in an emergency, assuming the networks are even still working in that emergency, but then, banks would be useless to get to savings accounts if networks and power was down too.

Put together an emergency card deck that covers your bases like I did, but one tailored to your needs.

Put small charges on those cards at least once every 6 months to keep them active and PIF so the full limits are there when you really need them.

Have a second card deck designated as your daily driver spending.

And a 3rd card deck for pay over time 0% promos.

So, x3 different card decks working together, to give you more piece of mind.

Good luck.

Re: Best fixed apr credit card to have for emergencies?

Outbackexplorer — Mon, 12 May 2025 17:39:14 GMT

@dfwxjer wrote:
You want an issuer to release a low profit product, that you don't intend to use aside from an emergency scenario, and you want low interest rate and possibly rewards? In addition, you want to transfer other credit card balances for no fee, pay no interest, and you want to be able to do cash advances with no fee while simultaneously being granted large credit limits that the issuer has to account for.

What you're describing is an emergency fund savings account. Credit cards are not emergency savings accounts and your fundamental understanding of credits cards is extremely flawed.

I mean they literally already exist, they're just rare. And my list of things are an ideal product, if it meets less than all of the requirements then it can still be good. Also just because *I* wouldn't use it much regularly doesn't mean other people wouldn't. I understand credit cards completely, thanks. Sometimes emergencies aren't nice and don't wait until you've replenished your fund from a previous emergency.

To reply to other posts (not sure how to multiquote: I apperciate the info Galahad15! I kind of figured that might be the case, but maybe there's still a hidden gem somewhere.

To ptoatohed and Drifter73 yes I agree with Drifter. Ideally you'll PIF every time and if anything bad happens you'll use an emergency fund. But sometimes life happens. A second emergency might happen before you can replenish your first, or maybe someone is too young to have built up a big enough emergency fund, etc. I've seen cards with as low as 8% fixed apr in the past, and the only cost is the one time opportunity cost of missing out on a SUB. I feel like it's not a bad tool to have in your pocket, even if you hope to never have to use it, beyond occasional light use to keep it active.

Re: Best fixed apr credit card to have for emergencies?

galahad15 — Mon, 12 May 2025 17:55:55 GMT

@Outbackexplorer: sorry I may have spoken a bit too soon -- I may have found something still fixed-rate below 10% F for you!

Please check out Credit Cards | First Federal Credit Union (Premium VISA card as low as 9.99% F).

ETA: also while just a little bit higher, there is also the Credit Cards | Ardent Credit Union | Ardent Credit Union VISA Classic card as low as 10.99% F as well.

Re: Best fixed apr credit card to have for emergencies?

galahad15 — Mon, 12 May 2025 18:49:34 GMT

Hi again @Outbackexplorer, here as some additional cards I was able to find with go-to APRs below 10% (sorry as I am not 100% sure though if they are fixed-rate or variable-rate):

(1) Star One Credit Union VISA cards: offers 3 VISA card products as low as 7.75% - 8.75%. Signature rewards option has a dedicated rate of 8.75% if approved.

(2) American Heritage Federal Credit Union Platinum Preferred Mastercard: 9.99% APR

Re: Best fixed apr credit card to have for emergencies?

ptatohed — Mon, 12 May 2025 18:54:09 GMT

@galahad15 wrote:
@Outbackexplorer: sorry I may have spoken a bit too soon -- I may have found something still fixed-rate below 10% F for you!

Please check out Credit Cards | First Federal Credit Union (Premium VISA card as low as 9.99% F).

ETA: also while just a little bit higher, there is also the Credit Cards | Ardent Credit Union | Ardent Credit Union VISA Classic card as low as 10.99% F as well.

Well, there are quite a few CCs out there that advertise a rate at/near or even below 10%. The problem is, they all have the qualifier "as low as" and "based on credit worthiness". So, who wants to apply and get a hard pull just to be told you didn't qualify for the lowest rate, and your rate is 6%+ higher than the lowest advertised?

Re: Best fixed apr credit card to have for emergencies?

Outbackexplorer — Mon, 12 May 2025 18:57:38 GMT

@galahad15 wrote:
Hi again @Outbackexplorer, here as some additional cards I was able to find with go-to APRs below 10% (sorry as I am not 100% sure though if they are fixed-rate or variable-rate):

(1) Star One Credit Union VISA cards: offers 3 VISA card products as low as 7.75% - 8.75%. Signature rewards option has a dedicated rate of 8.75% if approved.

(2) American Heritage Federal Credit Union Platinum Preferred Mastercard: 9.99% APR

Wow thank you, great finds! I'm impressed at your searching skills.

The first 3 ones you found are local to certain counties only it seems, but that could still be helpful to some people! The last one seems open to anyone if they join a foundation.

Re: Best fixed apr credit card to have for emergencies?

galahad15 — Mon, 12 May 2025 19:20:14 GMT

Some more credit cards with rates below 10%:

(1) Gundersen Credit Union: card with a fixed rate of 8.90% F.

(2) Columbine FCU: black card as low as 9.50% V.

(3) Qside FCU: MasterCard Platinum at 8.90% F.

Re: Best fixed apr credit card to have for emergencies?

galahad15 — Mon, 12 May 2025 19:20:58 GMT

@Outbackexplorer wrote:
Wow thank you, great finds! I'm impressed at your searching skills.

The first 3 ones you found are local to certain counties only it seems, but that could still be helpful to some people! The last one seems open to anyone if they join a foundation.

Many thanks and you're very welcome @Outbackexplorer, I'm definitely more than happy to be able to assist!

Re: Best fixed apr credit card to have for emergencies?

Outbackexplorer — Mon, 12 May 2025 21:25:22 GMT

@galahad15 wrote:
Some more credit cards with rates below 10%:

(1) Gundersen Credit Union: card with a fixed rate of 8.90% F.

(2) Columbine FCU: black card as low as 9.50% V.

(3) Qside FCU: MasterCard Platinum at 8.90% F.

These all have limited memberships, but still great finds, hopefully they're of use to someone! Looks like there's still a decent amount of these out there, they're just usually georestricted.

Re: Best fixed apr credit card to have for emergencies?

Kforce — Mon, 12 May 2025 21:25:28 GMT

@ptatohed wrote:
Well, there are quite a few CCs out there that advertise a rate at/near or even below 10%. The problem is, they all have the qualifier "as low as" and "based on credit worthiness". So, who wants to apply and get a hard pull just to be told you didn't qualify for the lowest rate, and your rate is 6%+ higher than the lowest advertised?

How else do they get new memberships?

Re: Best fixed apr credit card to have for emergencies?

PayAndProsper — Mon, 12 May 2025 21:32:41 GMT

@galahad15 escribió:
Hi again @Outbackexplorer, here as some additional cards I was able to find with go-to APRs below 10% (sorry as I am not 100% sure though if they are fixed-rate or variable-rate):

(1) Star One Credit Union VISA cards: offers 3 VISA card products as low as 7.75% - 8.75%. Signature rewards option has a dedicated rate of 8.75% if approved.

(2) American Heritage Federal Credit Union Platinum Preferred Mastercard: 9.99% APR

The Star One Visa Signature Rewards Credit Card is very attractive. I gave them a call. The APR is variable, not fixed; however, the rep said that it has been 8.75% for the last 6 years. Not as secure as a fixed-rate APR, like the OP originally was looking for, but it is still pretty good.

Thanks for the research!

Re: Best fixed apr credit card to have for emergencies?

PayAndProsper — Mon, 12 May 2025 22:05:43 GMT

OP, you may be interested in this Visa Platinum card from Vision Financial FCU.

Great low, fixed rate of 7.5%.
Same great rate for purchases, cash advances and balance transfers.
No Annual Fees.
No Cash Advance Fees.
No Balance Transfer Fees.

Membership is open to anyone who lives, works, or worships in portions of Durham County and Cumberland County, North Carolina as well as employees of a number of other employee groups. Additionally, immediate family members of an already established member as well as anyone who lives in the same household as an already established member are eligible to join the credit union. You can also qualify for membership by joining The North Carolina Consumers Council (NCCC) for a $20 tax-deductible NCCC membership fee.

ETA: Just as an FYI, be ready to provide POI. This credit union tends to ask for paystubs and tax returns.

Re: Best fixed apr credit card to have for emergencies?

Outbackexplorer — Mon, 12 May 2025 22:13:23 GMT

@PayAndProsper wrote:
OP, you may be interested in this Visa Platinum card from Vision Financial FCU.

Great low, fixed rate of 7.5%.
Same great rate for purchases, cash advances and balance transfers.
No Annual Fees.
No Cash Advance Fees.
No Balance Transfer Fees.

Membership is open to anyone who lives, works, or worships in portions of Durham County and Cumberland County, North Carolina as well as employees of a number of other employee groups. Additionally, immediate family members of an already established member as well as anyone who lives in the same household as an already established member are eligible to join the credit union. You can also qualify for membership by joining The North Carolina Consumers Council (NCCC) for a $20 tax-deductible NCCC membership fee.

ETA: Just as an FYI, be ready to provide POI. This credit union tends to ask for paystubs and tax returns.

Wow, amazing find!!! I wish I had a 5/24 slot open and I'd probably swoop on it to lock it in, seems to be a clear winner.

BTW while googling I found this interesting tool which helps find low interest rate credit cards based on state, though the data is from mid 2024, may be of use to some here https://www.consumerfinance.gov/consumer-tools/credit-cards/explore-cards/cards/

Re: Best fixed apr credit card to have for emergencies?

PayAndProsper — Mon, 12 May 2025 22:19:01 GMT

@Outbackexplorer escribió:
Wow, amazing find!!! I wish I had a 5/24 slot open and I'd probably swoop on it to lock it in, seems to be a clear winner.

BTW while googling I found this interesting tool which helps find low interest rate credit cards based on state, though the data is from mid 2024, may be of use to some here https://www.consumerfinance.gov/consumer-tools/credit-cards/explore-cards/cards/

Anything could happen; but, I wouldn't feel a need to rush. That offer from Vision Financial has been there at least 5 years, now. If you're considering carrying a balance, it is a great option, though.

P.S. Thanks for the link to the tool.

Re: Best fixed apr credit card to have for emergencies?

Outbackexplorer — Mon, 12 May 2025 22:30:48 GMT

@PayAndProsper wrote:
@Outbackexplorer escribió:
Wow, amazing find!!! I wish I had a 5/24 slot open and I'd probably swoop on it to lock it in, seems to be a clear winner.

BTW while googling I found this interesting tool which helps find low interest rate credit cards based on state, though the data is from mid 2024, may be of use to some here https://www.consumerfinance.gov/consumer-tools/credit-cards/explore-cards/cards/
Anything could happen; but, I wouldn't feel a need to rush. That offer from Vision Financial has been there at least 5 years, now. If you're considering carrying a balance, it is a great option, though.

P.S. Thanks for the link to the tool.

Oh yeah, I mean I hopefully will never *need* it and have no plan to ever need it, and in a sense I'm not in a rush, and I'm not going to make myself 5/24 for it (and thus ineligible for Inks). Just feeling a bit of FOMO since the Atltitude Reserve, Smartly V1, Rewards+ (and I've heard some rumors of potentially the CCC soon) all stopped being offered, and those are all ones I wanted to grab at some point but wasn't in the situation to do so.

That's a great point about it being around for so long though, it'll probably stick around and is stable. And of course even if I did have it, there's no guarentee they wouldn't close the card or something.

Re: Best fixed apr credit card to have for emergencies?

ptatohed — Tue, 13 May 2025 00:22:01 GMT

@PayAndProsper wrote:
OP, you may be interested in this Visa Platinum card from Vision Financial FCU.

Great low, fixed rate of 7.5%.
Same great rate for purchases, cash advances and balance transfers.
No Annual Fees.
No Cash Advance Fees.
No Balance Transfer Fees.

Membership is open to anyone who lives, works, or worships in portions of Durham County and Cumberland County, North Carolina as well as employees of a number of other employee groups. Additionally, immediate family members of an already established member as well as anyone who lives in the same household as an already established member are eligible to join the credit union. You can also qualify for membership by joining The North Carolina Consumers Council (NCCC) for a $20 tax-deductible NCCC membership fee.

ETA: Just as an FYI, be ready to provide POI. This credit union tends to ask for paystubs and tax returns.

^^^ That's a pretty crazy find actually!