Photo: Flickr / Mjnh Nguyen
Wedding season is here again, and brides and grooms everywhere are busy calculating the expenses of their big day.When you’re paying for your wedding expenses, you might decide to use a credit card to enjoy some of the rewards.
Before doing so, keep in mind that you should only charge what you can pay off immediately.
It’s not worth going into debt for just one day, no matter how special it is.
That said, if you know you can pay off what you owe (preferably within a month!), charging the expenses on credit cards will be a neat way of earning back cash and other rewards.
Here are some good options:
Best Overall Cash-Back Card
Pick the Chase Freedom card for more change in your pocket.
- You get $200 bonus cash back if you spend $500 in the first three months of signing up for the card.
- No annual fee.
- Five per cent cash back up to $1,500 in certain categories that rotate each quarter. Here’s the calendar for 2012: January to March: Gas Stations, Amazon.com April to June: Grocery Stores, Movie theatres July to September: Gas Stations, Restaurants October to December: Hotels, Airlines, Best Buy, Kohl’s When planning your wedding, aim to charge your down payment to the restaurant from July to September. And perhaps if you want to buy wedding favours or knickknacks from Amazon.com, January to March would be a good time to do so. If you’re planning on using the same card for your honeymoon, you should opt to buy tickets and add hotel charges onto this card during the last quarter of the year.
- One per cent cash back on everything else.
- The APR rate is zero per cent for the first 15 months, then 15.99 per cent to 22.99 per cent.
Read on for more.
Best Overall Travel Reward Card
Rack up travel points for your honeymoon with the American Express Starwood Preferred Guest Card.
- Earn 10,000 Starpoints after your first purchase and an additional 15,000 if you spend up to $5,000 in six months.
- Stay four nights and get your fifth night free. You also receive up to $100 in resort credit at participating resorts in Hawaii and French Polynesia.
- Get one Starpoint for every dollar spent on most purchases and five Starpoints on every dollar spent on SPG hotels.
- Transfer Starpoints to over 30 airlines.
- No annual fee for the first year, then a $65 annual fee for the subsequent years.
- The APR rate is 15.24 per cent, 17.24 per cent, or 19.24 per cent.
If you’re loyal to an airline, you might want to check out what rewards you can reap with the airline’s credit card.
For example, if you’re planning on travelling locally, Southwest Airlines Rapid Rewards® Plus Card offers a free round-trip flight after your first purchase.
Bear in mind that the card has a 15.24 per cent APR rate from the get-go, so you better be paying off the entire balance by the due date.
As always, be careful when you’re using credit cards, and if you don’t have the means to pay for your wedding in full, you should consider spending less.
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