Now we have 1 credit card that we keep well paid up on, with a low limit, as an ICE card. We could easily get the limit raised if we needed to get a transmission replaced or something and didn't have the cash. I think that not having a CC like that doesn't benefit you. What if TSHTF and you just need to get through that one month, and you end up getting a payday loan or something that costs you $20 per $100 they loan.
Even better than an emergency credit card is an emergency fund in a savings account. When TSHTF, the last thing you need is to add high-interest credit card debt on top of it.
I know, I know, you're like me and you don't have one extra penny in the budget to start socking away for an emergency fund that just sits there doing nothing. But if that's the case, you're not going to be able to pay off the emergency credit card at the end of the month, either! Now your budget that you thought didn't have room for any saving has to somehow make room for CC interest payments from now until forever.
And there WILL be an emergency.
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