The emergency only credit card consumer is an often overlooked consumer in the world of credit cards. Not everyone who applies for a credit card intends to use it to borrow money with the credit card. Some people for whatever reason choose to use their credit card only on rare occassions when they are either faced with an emergency or no other option is available and then repay their credit card balance off every month. This type of consumer is typically least interested in an instant approval credit card of all the different types of consumers as they are the least susceptible to using the credit card for credit.
As they tend to use the card infrequently and are in no way dependent on the card, the emergency only credit card user perhaps does not think about getting a better deal for themselves as any other credit card consumer might.
If the credit card holder barely uses their credit card they may be paying a significant amount of money each year in annual fees unnecessarily. The no annual fee credit card with 55 days interst free is a very useful card for the emergency credit card user as they will only need their credit card in certain situations and they will be able to take advantage of the fact that for their credit card they do not need to have an annual fee. The disadvantage of the no annual fee credit cards is that they tend to have a higher rate of interest than the low interest rate credit cards. This is of no consequence to the emergency only credit card consumer who repays the balance in full each month, as by paying the balance in full each month 55 days interest free will apply and the interest rate becomes irrelevant. It is of course important to read the fine print involved as some no annual fee cards also come with no interest free days.
One of the biggest and best benefits of a credit card is the purchase insurance on items bought with a card. Many cards offer a variety of insurance on items bought with the credit card. This can include purchase insurance on all goods that are bought with a card against loss damage and theft. There can also be extended warranties on goods that have an existing warranty as well as travel insurance (including foreign medical insurance) on plane tickets that are bought with the credit card.
Rewards programs are another good feature for the consumer who repays the balance on the credit card in full each month, however it is better suited to a consumer who uses their credit card more frequently than the emergency only card holder.
