[Nicmos]

Hi All,

My wife and I are looking for a 2nd credit card as an emergency backup and we're wondering if anyone has suggestions.

We'd like a card with no yearly fees and a competitive interest rate.

Thanks....

 

[Tuscani01]

TD Emerald card has extremely low interest rates. Its prime + 1.75-9.75 depending on how good your credit score is... so you can end up with an interest rate of less than 4%. Only catch is the $25 annual fee, though you'd more than make up for that $25 depending on how much interest you normally pay.

 

[Monarch Butterfly]

Use a gas station credit (IE. Citi Petro-Points MasterCard) and use it ONLY for gasoline and car maintenance. No fee, collect points, and easier to track on the statements. In case of emergency, you can then use it for that and it will "stick out" on your statement. As always, pay off ALL credit cards. If you really need a loan, DO NOT use a credit card. Last resort should be a line-of-credit account, but never a credit card.

 

[Nicmos]

Good Advise so far

Thanks for your input folks

 

[nfitz]

I use a Royal Bank no-fee Visa card as my emergency back-up. http://www.rbcroyalbank.com/cards/no-annual-fee-cards/index.html RBC Rewards Visa Gold - but there are other choices. I only use it every couple of years or so just so it isn't completely inactive ... but it's been really useful when my other one has been unavailable (lost, misplaced, etc.).

My primary card is Royal Bank as well, so this was an easy choice.

 

[PinkLucy]

I have a no-fee AmEx and a no fee PC Mastercard -- I collect Air Miles on the AmEx and PC points to redeem for groceries on the MC; my daughter has a no-fee Scotia Bank VISA with cash back. There are lots of options out there.

Not sure about the interest rates though because I only charge what I can afford and always pay my balance. The PC MC generally promotes its low rates however.