Wedding Budget Tip #25: Earn Rewards Points to Offset Wedding and Honeymoon Costs
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This post is part of a recurring series here on BSB – we share a wedding budget tip every Tuesday to help you save money on your wedding! You can also access all the wedding budget tips on a single page for your convenience and future reference. This post is all about the ways you can use Rewards Credit Cards to earn cashback, travel hack your honeymoon, and more!
Wedding Budget Tip #25:
Sign up for a rewards credit card for wedding purchases.
At The Budget Savvy Bride, we're all about planning a wedding you're proud of on a budget you can actually afford. If there's one thing that we're definitely not into, it's racking up debt. (This may or may not have been influenced by the fact that I grew up in Dave Ramsey territory.) We generally don't believe spending more than you have and racking up debt, especially for your wedding day! We believe that all couples can and should have #debtfreeweddings– because starting your married lives off on solid financial footing is the best way to avoid money stress in your relationship.
Even though we love the idea of staying debt-free, we don't 100% subscribe to Dave Ramsey's no-credit-card policy. There's some good that can come from using certain credit cards – like earning awesome rewards miles and points you can use towards travel. Many couples open a new rewards card and put all of their wedding purchases on that card to earn points towards their honeymoon! If you're going to spend the money anyway, you might as well earn some extra perks from it, right?
Choosing the right rewards credit card for your wedding
Do some research to find the best rewards cards for travel rewards to a destination you'd like to go to. Consider airline rewards cards, hotel rewards cards, etc. Use your rewards credit card exclusively for wedding purchases and earn points to redeem for free honeymoon flights, hotel nights, or other great rewards depending on the card you choose. Many cards come with a sign-up bonus like 50,000 miles if you spend a certain amount in the first few months. It's definitely worth checking for bonuses like that for added deals!
✈️ Learn more about Travel Hacking for your honeymoon ✈️
The Best Rewards Credit Cards for Engaged Couples
From what we've read, a great card to start out with is the Chase Sapphire Preferred.
When you open a new Chase Sapphire Preferred card and spend $4,000 on purchases in the first three months, you'll earn 60,000 bonus points. That's $750 toward travel when you redeem through Chase Ultimate Rewards. If you've got big wedding bills to pay like venue or catering deposits, this is a great way to quickly meet that minimum spend to achieve a bonus.
Things to watch out for with credit cards
If you decide to use a credit card to earn points on your wedding purchases, just make sure to pay it off every month with funds from your wedding savings account. If you use your credit card responsibly, you can make it work FOR you instead of against you.
When considering whether or not to open a new credit card for wedding purchases, be sure to consider all the facts. Keep things in mind like annual fees, interest rates, etc when comparing cards. I personally have several different credit cards now that I use for different things. Some cards earn more points on groceries or gas, while others earn more on travel. Just be sure to pay your cards off each month and don't carry over a balance. Clearing your balance each month will ensure you're not paying added interest on anything.
So tell us: do you take advantage of credit card reward points?
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The Budget Savvy Bride has partnered with CardRatings for our coverage of credit card products. The Budget Savvy Bride and CardRatings may receive a commission from card issuers.