Finance

8 Smart Tips for using your Credit Card for Wedding Expenses

If you are tying the knot shortlor taking care of the wedding-related arrangements of any family member or a dear one, here are some handy tips that would help you save some money on the expenses that you incur.

If you use a credit card then there are multiple ways to get the best return value when you use it for wedding-related transactions. These have been briefly explained below.

Reward points: 

Your credit card offers reward points on multiple categories of expenses like garment shopping, groceries, electronic items, etc. So prepare a list of all the items that you need to purchase for the wedding and then check out for the deals and offers that you can avail on these items with your card. It may sound a bit tedious but because a typical wedding involves a long list of such items, some of them being relatively expensive, the number of credit card reward points that you can avail would also be high. So careful planning of the shopping requirements is entirely worth it.

The interest-free period that you enjoy: 

If you have paid the entire outstanding balance on your card for the last month’s billing cycle, you would get the interest-free period of up to 50-55 days on all the expenses that you incur on the card. This is particularly helpful for the wedding-related expenses because there would be numerous times when you would have to spend some extra money on things that you have probably left out of the wedding list.  And because the overall expenses would be high, an interest-free period would buy you some time to plan out a proper repayment plan. You wouldn’t enjoy the same luxury if you use your debit card or cash to make the payment.

Ease of tracking your expenses:

Incurring the wedding expenses on your card is an easy way to keep the transactions in an easy-to-track account. You can also get a detailed list of all the expenses in your next credit card bill. Thus you have a clear idea of all the areas of expenses and the convenience of tracking them distinctly.

The EMI options: 

It is possible that you may not be able to pay off the entire credit card balance at one go after incurring all the wedding expenses on this. This is where the credit card EMI facility comes to your rescue.  You can log in to your credit card net banking account or call the customer care service and convert a few of the high purchases into easily manageable EMIs and then pay them off with ease. Thus, you save yourself from trying hard to arrange the credit card repayment amount or borrowing it from others.

Travel benefits:

This would be particularly helpful if you have a travel credit card i.e. a credit card that delivers high travel benefits. So if have accumulated air miles on your card, you can redeem the same for the honeymoon trip. This can really save you a fortune. Also, check out the best hotel deals that your credit card offers and save a substantial sum on hotel bookings as well. 

A single source of spending: 

If your credit limit permits, you would enjoy the luxury of incurring all the wedding-related expenses on a single credit card. This eliminates the need for arranging multiple sources to fund the wedding. In this way, you can exercise strict discipline on the financial aspect of the wedding.

Sign-up offers: 

If you decide to apply for a fresh credit card primarily as the spending tool for the wedding activities, you would also enjoy the multiple welcome bonus and gifts that the card provides. You also get a chance to select card that would deliver the best of the benefits on the wedding expenses.

A boost to your credit score: 

If you incur the wedding expenses on your credit card and make timely repayments to the card account, the chances of you improving your credit score are high. But ensure that the repayments are done on or before every due date.

Bottom line: 

Using your credit card for your wedding expenses is a great idea if the above-mentioned points are taken care of. It would make your life easier and enhance the joy of the whole wedding event. While you take advantage of the discounts and rewards, be sure to pay the bill on time and in full to avoid interest charges. All you need to do is use the card smartly and stay true to the financial commitment.

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