Getting hitched this year? You’re in good company. According to the Wedding Report, 2.5 million weddings are planned for 2022, the highest number since 1984.
Also rising is the amount people are spending on weddings. A survey by The Knot found the average cost for a wedding ceremony and reception in the U.S. in 2021 was $28,000. And a new Bankrate survey revealed that nearly a quarter of U.S. adults feel pressured to overspend at celebratory events, weddings included.
If you’re trying to budget for a wedding, financing can help — even if you’re new to credit — and that may mean applying for a credit card. Here’s how to save on your nuptials with a credit card.
Best credit cards for weddings
Even if you’ve never had a credit card of your own, you may have built up your credit score enough with a well-managed student or car loan or have been an authorized user on somebody else’s credit card. If so, your credit scores may be high enough to qualify for a credit card that can help you achieve a blissful, financially sound event — without incurring the dreaded debt.
Here are a few credit cards to consider for financing a wedding:
Best for financing your wedding with no interest: Chase Freedom Flex
One of the most powerful ways to save money as your borrow for your wedding is with a credit card that offers a 0% APR for over a specific time period. One of your best bets is the Chase Freedom Flex℠ credit card.
The Chase Freedom Flex gives you the opportunity to charge your wedding costs and then have up to 15 months from the date that you opened the account to pay it all off without any interest being applied. Moreover, if you steadily repay the balance and make all of your payments on time, the interest rate that will go into effect after the intro period is up can be as low as 15.24% (and as high as 23.99 percent). With such a reasonable regular rate, you can charge other purchases and then pay them off over time without excess fees adding to the debt.
Best for lowering wedding costs: Citi Custom Cash Card
Many credit cards offer new cardholders a sign-up bonus. The rewards can take several forms, such as cash, points and miles, but to reduce the cost of your ceremony and reception, a credit card that provides the bonus in cash may be especially attractive. The Citi Custom Cash℠ Card is a solid choice for wedding expenses.
With the Citi Custom Cash, you will earn 20,000 ThankYou points — worth $200 in cash back — after spending $750 in the first three months. …….