February 13, 2018

Should You Put Wedding Expenses On a Credit Card?

Flowers, food, decor, and attire are a few of the many things you’ll spend money on to make a memorable wedding. There’s no denying that weddings are costly. In fact, the average cost of a wedding was just north of $35,000 in 2016.

So, how do you afford all these costs? Most Americans don’t have that kind of money lying around. For some, a credit card can be a great option to cover some of these wedding expenses. You’ll receive unique protections and the ability to earn rewards depending on your card.

Before you go out and max out your credit cards, it’s important to understand how they work. They’re serious financial tools that will shape your future depending on how you use them. Always use credit cards with discipline to avoid any fees or extra debt.

Cash Back Rewards

Some credit cards offer the chance to earn value back as you make purchases, which can be a great option as you shop and travel for your wedding. Unlike rewards cards that offer points or miles, rewards on a cash back card will credit money back to your card or bank accounts.

The best part of using a cash back card is that no matter what you spend, these cards will give you a bit of a discount. The cash back percentages usually range between 1% to 6% depending on what you purchase. With these cards, you can essentially save on your wedding purchases as you get some money back.

Credit Card Benefits

Credit card benefits differ depending on your card and issuer. But no matter what card you have, these benefits will increase your confidence and provide security while you shop.

A wedding is a perfect example of having to spend on a variety of purchases like the venue, services, planners, catering, and your attire. Just thinking about all these purchases can create a lot of anxiety.

Fortunately, most credit cards offer some type of purchase or return protections. These protections provide you with insurance in case a purchase becomes lost, damaged, or stolen for any reason.

In addition to that peace of mind, credit card companies also offer other perks, like a type of personal assistant or concierge services. These services are available to help cardholders book restaurants, hotels, or trips with their cards. These perks can be a great stress reliever while planning your rehearsal dinner or honeymoon.

0% Introductory APR

Look for credit cards that offer an introductory 0% APR period for purchases you make. These offers provide a length of time, usually between 6 to 15 months, where you won’t have to pay interest on your balances as long as you make the minimum payments.

You can essentially treat these cards like an interest free loan during this period, making it ideal for a wedding where you often make large periods during a short period of time.

Remember to be careful while using these cards and pay them off as you go. It’s always advised to keep the balances as low as possible to help keep your credit in good shape. Also pay attention to the date the offer expires, as the 0% introductory period will switch to a new APR. Pay off the full balance before the 0% period runs out and you’ll avoid all interest.

So as you’re planning your wedding, credit cards should be an option for purchases. They offer different protections, which can provide you with an added sense of security. Taking up a 0% introductory APR offer will enable you to pay your wedding expenses off over a longer period of time. Also, cash back reward cards offer a percentage of cash back on every purchase made on the card for your wedding. Credit cards make paying for your wedding day easier so you can focus on the big event… or the weather.

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