We often see bonus payouts at the $500 or less benchmark.Ĭash Back: A cash back reward program is a rewards program where a small percentage of the amount spent, typically 1 to 3%, is paid back to the cardholder. Aka, this isn’t going to matter much if you want an “only in case of emergency” card that you never touch.) Typically, once you spend a specific amount of money in an established timeframe (e.g., ‘Once you spend $3,000 in the first three months…”), you will get a bonus. Here’s what it is: a sign-up bonus is a promotion offered as an incentive to apply for a card and begin using it regularly. Sign Up Bonus: So, “sign up bonus” is a tad misleading. Here is what could be in store for you and your partner. We’ll start with the fun part - rewards! What makes a credit card advantageous is what you can earn from them: travel points, cashback, and sign-on bonuses. You’ll certainly want to compare the following: rewards, rates, and fine print. For example, you may be ecstatic to see that your credit line is in the double digits, but you may get deflated once you see your interest rate. When comparing the different credit card options available, it’s important to look at the good, bad, and ugly that will follow once your new piece of plastic comes in the mail.

However, if you start applying for several credit cards, you could face greater consequences. One hard inquiry in a short amount of time likely won’t affect your credit much.

It can lower your score, often by a few points, or be considered when a lender determines your application's status. Remember that using a credit card can mean credit card debt for some couples-are you okay with entering into your marriage with potential debt? Know your credit score and how applying for a card can affect it.Īpplying for a credit card can result in a hard inquiry for your credit report. By addressing your “why,” you’re able to see which rewards will be most impactful or if a credit card is the best choice at all.

Individuals decide to use a credit card for countless reasons, from building credit to make ends meet during a season of life. If you neglect to have this level of financial intimacy, troubles could arise, or you could be setting yourself and your spouse up for more financial strife as a married union. Determine your greatest “why” for getting a credit card. Here are a few guiding steps to move you in the right direction. Not so fast! Before you get excited by promotional deals and flashy statistics, sit down with your partner and have a thoughtful conversation about your finances and the utility of this card. Reportedly, 32% of them found assistance in the use of credit cards.īefore you join the population of couples who used credit cards to sponsor their nuptials, here are the details you should know when searching for the best credit cards for wedding expenses. Considering the state of the economy, it’s safe to assume that not every couple is sitting on a near $30K nest egg-especially if you’re paying for your wedding yourselves. According to the Wedding Wire Newlywed Report, the average cost of a wedding is typically around $28,000. And while those aspects supersede the headaches that come with wedding planning, we can’t avoid the struggles (or bills!) that come with orchestrating your big day. Weddings are a day filled with love, dancing, and memories to last a lifetime.

Credit cards for wedding expenses