
Sign up & start saving!
Get our weekly newsletter for the latest in money news, credit card offers + more ways to save
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
Updated
It’s no secret that weddings are expensive. The average cost of a wedding is $33,391, according to The Knot’s 2017 Real Weddings Study survey.
The cost today could be more or less, but either way, there is a good chance that you’ll need a large sum of money to pay for your big day. If you’re considering using a credit card to help cover the costs, read this guide to learn about your options and the key details you’ll need to consider when deciding if paying with plastic will work for you.
There are a few reasons why you may want to consider using a credit card to fund your wedding.
Before deciding which is the right credit card for your wedding needs, here are some key factors you need to consider.
Photography, venue hire, food and flowers are typical wedding expenses. Whether you’re using a low rate credit card so you can buy now and pay later, or a rewards credit card so you can honeymoon on the points, we look at the advantages and disadvantages of each type of card.
Low or no interest credit cards are characterized by either a low ongoing purchase rate of interest or low or no interest on purchases for a limited period of time. For expenses relating to a specific event, such as a wedding, you may want to consider credit cards with 0% intro APR on purchases for more than one year. This allows you to charge the cost of purchases like catering to the account when you need to and gives you time to pay off the balance without accruing interest.
If you use a rewards credit card to pay for your wedding, not only could you earn points on your necessary wedding costs, you could then use the points to redeem rewards to pay for the cost of domestic and overseas flights, accommodation and travel packages for your honeymoon. Plus, some cards offer bonus points on signup, which could really help bolster your points balance.
There are four main types of rewards cards on the market: frequent flyer credit cards, hotel credit cards, cruise line credit cards and rewards credit cards. The first three let you earn miles or points that you can mostly use toward a specific brand of airlines, hotels or cruise lines, while a rewards credit card gives you points with a variety of redemption options.
Some of these cards also include perks such as complimentary travel insurance, which could save you money on purchased insurance for your destination wedding or honeymoon. As rewards credit cards tend to have higher annual fees and interest rates, it’s important to make sure that the value of the rewards you redeem outweighs this cost.
You can find credit cards with higher credit limits. Typically, these cards come with an annual fee and with higher interest rates than cards with low credit limits. Whichever card you choose, just be sure the credit limit is high enough to cover your expected expenses.
Note that the actual credit limit you get is based on your credit score, utilization rate and other factors.
If you have already paid for some of your wedding costs with a credit card, you may want to consider a balance transfer credit card. This type of card can save you money on interest repayments by giving you a 0% intro APR for a limited period of time. Use your existing credit card to pay for your wedding expenses and apply for a balance transfer credit card so you can transfer the debt and get a lower interest rate.
The intro APR period starts from when you activate the card. The balance transfer rate of interest reverts to the purchase rate or cash advance rate of interest, which will be applied to any remaining debt at the end of the promotional period.
A credit card is a short-term cash flow tool that could help finance your wedding. Features such as interest-free periods, rewards and balance transfers can help take the financial burden off your special day. But remember to consider the ongoing costs of the card and the standard rates and fees that could apply at the end of promotional periods.
Before choosing a credit card, make sure to compare your options to find the best fit for your financial needs. If you are looking for a personal loan, you may consider comparing wedding personal loans.Back to top
Support your child’s financial knowledge and teach the important real-life money skills in a safe and controlled way with a kids’ debit card.
Get up to 10 cents off on your BP and Amoco station gas purchases.
This new debit card will let you pay for purchases over time when it debuts later this year.
Sephora regulars get to earn rewards on their purchases.
Credit counseling, debt relief programs and more options to consider.
Take advantage of miles, points and perks with a card that best fits your lifestyle.
Here are our top balance transfer picks for 2021.
Here are our top picks for 2021.
The fee-free Upgrade Card offers 1.5% cash back, but it lacks many standard benefits.
A solid cashback card with no credit history required to apply for it.