What you should know before using a credit card to pay for part or all your wedding
Congrats to all you Brides and Grooms on your upcoming nuptials! So, now that you are engaged, your next step is to budget for your big day. Before doing anything, we suggest that you both should have the money talk before moving forward. This will help you understand where you both are in your finances.
Here are 2 options to think about before using a credit card:
Best tips for planning your own wedding
Option 1- Savings: First and foremost, saving towards your wedding is the key to starting your new life together as a married couple's debt FREE. So, think about an amount you want to spend on your wedding (this means how elaborate you want your wedding day to be - elegant, vintage themed, simple/chic, rustic or family styled) and set a time frame you should reach your targeted amount. You can set your wedding for that time frame, also.
Related: High Yield Savings to Take a Look At
Option 2- Asking your Parents: You can always ask your parents. If you do, set limits for what they can do and cannot do... this is going to be hard... it's your parents and all, however, you need to. If they agree to pay for part or all of your wedding, draft a contract showing dollar amount, and type- gift/loan, and time you need to repay.
Also, include their job functions if you decide on having them play a part in the planning. If not, itemize the do's and don'ts and what you expect from them and have them sign.
Give them a copy and keep a copy for yourself. Refer to your copy if things are not going the way you planned and have them do the same. Good luck with this option!
Stop: Before Using a Credit Card
Last resort- Option 3- Credit cards should be your last choice. If you plan on using a credit card for any or all of your wedding planning or honeymoon, make sure you think it through and come to an agreement before using them.
Planning a wedding requires paying multiple vendors multiple payments over a long period, such as caterer, photographer, florist, venue, invitations, just to name a few.
Agree on what should be on the credit card and then use that card for that item only; if you add more that one item, keep a record of what those items are.
So, before spending outside your budget on your big day, seriously consider the worthiness of each line item... Have the money talk... DON’T LET WEDDING DEBT SPOIL YOUR BIG DAY AND BEYOND!!
Tips for Using a Credit Card
As you know, the APR on credit cards can be very high and will cost you more than you bargain for in the long run.
So, we shopped around and found quite a few that NextAdvisor and CardRates.com thinks are the best ones for balance transfers, purchases, and even cashback. Below you will see what NextAdvisor selected for the past 2 years.
NextAdvisor
One that caught our eye is Citi Diamond Preferred Card- 0% for 21 months on purchases, balance transfers, then 12.99% variable. (2018)
For 2020, this particular card caught our eyes - Capital One SavorOne Cash Rewards Credit Card - 0% intro on purchases for 15 months, then 15.74% - 25.74% (Variable); 0% intro on balance transfers for 15 months, then 15.74% - 25.74% (Variable)
CardRates.com
Now let’s see what CardRates.com selections are. One in particular that caught our eyes - Chase Freedom Unlimited - 5 stars overall ratings -
Earn unlimited 1.5% cash back on all purchases.
0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
No annual fee
No minimum to redeem for cash back
CardRates: For 2021, this particular card caught our eyes, Wells Fargo Platinum Card - 0% intro on purchases for 18 months, then 16.24%-24.49% (variable); 0% on transfer balances for 18 months.
CardRates: For 2022, a few caught our eyes (all 0% APR) Chase Slate Edge, Chase Freedom Unlimited, Capital One Quick Sliver. Explore here
% Compare Low APR Credit Cards - 
Credit cards that offer 0% introductory APR rates are a great way to enjoy interest-free purchases. Some of these cards combine a 0% intro purchase APR with a 0% intro balance transfer APR so you can save additional money on expenditures you've already made.. Credit Card FAQs.
Do You Plan on Using a Credit Card To Pay for All or Part of Your Wedding?
Final Thoughts
No matter your credit score, CardRates.com highlights the best cards that will fit your score. So, take some time and go through the list and see which card is right for you, this is if you do plan on using a credit card for all/part of your wedding/honeymoon or even regular purchases.
If you still have questions for wedding coordinator, there is a Free 30-min phone consul, waiting for you.
