10 Ways To Smartly Use Credit Cards For Wedding
Your wedding is around the corner and you have so many preparations to make. Your anxiety about finances is quite obvious. But since you have some time to plan for your wedding then depending on the credit card for some wedding expenses is not a bad idea. All you have to do is to make sure you are carefully utilizing funds available in the credit card for your wedding. Credit card is a form of debt and can incur interest rates and other fees if the balance is not paid off on time. However, such interest rates can be avoided simply by paying off the balance within time. If you are someone who follows this simple rule then you can use credit cards to make big purchases for your wedding without any worry.
For Your Assistance, Some Useful And Smart Tips Have Been Shared In This Article
1. Use Reward Points Earned From Credit Cards -
If you have been using credit cards for almost every purchase then you are most likely to have earned reward points that can actually help you in managing wedding expenses. The idea is to take advantage of such reward points and do the necessary shopping for your wedding. Cash back credit cards can be considered here as you can avail huge benefits from it.In short, you are getting back money for money spent. This is an ideal way to manage wedding expenses without spending extra penny. Some credit cards help you getmore rewards on grocery purchases or by shopping online. Depending on your requirement you can choose the card accordingly. Pick a card which can give you maximum cash back so that you can use that money to make your wedding purchases.
2. Using Travel Rewards For Honeymoon Is A Good Idea-
Did anyone tell you that getting a travel rewards credit card can help in many ways? Apply for travel reward cards if you have plans for honeymoon. These cards are also helpful in managing wedding costs. If you maintain large balance in your card then you can easily earn more points on the go. You can use these points to book flight tickets and make arrangement for your hotel stay. You can search online for the best card that suit your needs. General travel cards let you make use of points for any travel expense provided that the card allows doing so. However, there are even cards which let you earn more points on flight tickets but allow restricted use of the reward points.
3. Take Advantage Of Interest Free Credit Period-
There is a worry free way to utilize credit card that is available with you. Every credit card has an interest free period which varies across card issuers.When you use credit card during this time period, no interest fee is charged from you. Interest free credit period is a boon to someone like you who need funds for dream wedding. But one thing that you must keep in mindis that if you fail to pay off credit card bills on due date then interest fee will be charged on the outstanding amount. With stable income paying off bills on time is not going to be tough. This is a great opportunity if you want to arrange finances for your wedding without burning a hole in your pocket.
4. Go Through Credit Card Statement For Better Understanding Of Expenses Made-
There is an indirect way in which you can get benefitted by using credit card. Your habit of using credit card on any occasion can be a shortcoming when it comes to payment of the balance on due date. But since payments get recorded in the credit card you can actually keep a tab on your expenses by checking the statement from time to time. Information like date, time and amount etc can be known from the credit card statement. You can easily find out how you can adjust some expenses or minimize expenses to save money.Cut off unnecessary exigencies and save a lot of money in your credit card for your wedding.
5. Plan Your Expenses According To The Credit Limit-
In case of credit card you don’t have to worry about the purpose of use. Moreover, you don’t have to mention the purpose at the time of applying for it. On the other hand, this is not the case when you are considering a loan. The credit limit set for your card can be used as per your need. Not just that! Whileloan options are limited to meet small cash requirement, credit card balance can be used for any small or big necessity without any worry. It is advisable to borrow that much amount of money which you need and can repay on time. Getting huge amount of loan for personal needs can be burdensome for you.
6. Do Check Your Annual Or Joining Fees To Make The Most Out Of Credit Cards-
Credit cards with high annual or joining fees will not help you earn rewards. As a result you will not be able to take advantage of rewards for your wedding purchases. A credit card annual fee is basically an amount that you need to pay off every year in order to continue being a card holder and take pleasure of rewards and benefits of the card. If rewards are not more than the amount you are paying for keeping the card then this means you are actually losing money. So, higher the annual fee means you need to spend more using credit card in order to earn more. This will only increase your financial burden. You need to carefully check and compare fees before selecting the credit card.
7. For Protection From Frauds And Easy Transaction Use Credit Cards-
Credit cards can actually protect you from frauds. Transactions using credit cards can be done after providing a pin or password. Moreover, your card is linked with your email id and phone number where details of all transactionsare forwarded at once. The moment you realize any unprecedented activity you can readily take action and prevent it from happening. Besides, credit cards make transaction easier and smoother. You don’t have to visit any bank to take out or deposit money. You can shop according to your need and credit limit. You don’t have to carry money everywhere.
8. Try Getting A 0% Intro APR Card To Use For Your Wedding-
Your dream of having a lavish wedding affair can empty your pockets. But there is a realistic way to deal with it. Applying for a credit card can be solution. Worried about fees? This is the scary part of getting a credit card. But getting 0 % intro APR credit card can be helpful. With this type of credit card you will get some relaxation. You don’t have to pay any interest for a particular period of time. You can actually take up a big balance and make arrangement for your wedding without worrying about interest fees. You just need to pay off the minimum balance each month. This credit card lets you enjoy balance transfer facility. Here you must know that balance transfer cards levy a fee for providing this facility. As long as this fee is less than the accrued interest, balance transfer is an effective idea.
9. Borrow That Much You Need-
Credit cards are more convenient option than personal loans. But that does not mean you can borrow without any limit. Remember that at the end of the day you will be paying off the balance along with interest. Make sure if credit cards can help in keeping your debt low or else you may end up getting trapped in spiral of debts. Research carefully for the best cards. Do your calculations carefully to decide which card is offering the best deal for your situation.
10. Plan For Repayment In Advance-
Having a repayment plan in advance is very important. If you don’t know from where you would arrange funds for repayment then you will land in a troubled situation. Also, you must remember the consequences if you fail to pay off the credit card balance on due date. It would be better to avoid using credit card for personal expenses until you make sure about repayment. Using online tools like online calculator you can find out how long the repayment term is and what amount you will have to repay. Credit card is a useful financial tool if handled smartly.
Who does not want to have a grand wedding! The extravagance of wedding definitely needs huge amount of money. So, if you are planning to take out a loan then it is better to apply for a credit card which let you enjoy the benefits that are mentioned above. With miscellaneous expenses coming up, it might not be possible for you to stick to a budget. But if you act smart then you can make the best use of credit card. Go through the terms and conditions of credit cards carefully to avoid any confusion later.