Charging wedding expenses

Original post by akaMrsT

Sep 09, 2005 07:47 PM

What are/NYC & LI brides are doing

Anyone charging the wedding I have friends who charged their $60K wedding on a 0% interest for 12 months Visa card (Bank of America).

FI does not even have credit cards and pays cash for everything. I use my AMEX for points but pay it off each month. In fact, the bill is on my desk now - payment due 9/16/05

Check this out - old article that I posted before.
CNN article - Texas couple charged their $41K wedding/honeymoon and have $27,500 left to pay off on their credit cards to the tune of about $3K in interest per year.

I really found it odd that they would charge wedding expenses when their debts include $60,000 in school loans, $10,000 on credit cards, $60,000 in car loans and a $225,000 house with a $210,000 mortgage.

diamondgrlie Posted: Sep 12, 2005 03:21 PM

Re: Charging wedding expenses

I charged everything except the hall pretty much. My gown, the HM, favors, etc.

tann22 Posted: Sep 12, 2005 03:50 PM

Re: Charging wedding expenses

So far we charged the honeymoon and photographer.
We get double points this month so I'm sure I'll be charging
more

ShortBride Posted: Sep 12, 2005 03:53 PM

Re: Charging wedding expenses

We can't charge much, but whatever we can we do to get miles/hotel points. We always pay off the balance every month, though. I wouldn't charge stuff that I could't afford

tracie143 Posted: Sep 12, 2005 04:41 PM

Re: Charging wedding expenses

WOW that is nuts.. I would never charge my wedding... I would charge the little things...

My FH does not even own a CC either. We pay everything in cash. That is the best way.

I could not imagine starting your life together with so much debt..

csui25 Posted: Sep 12, 2005 05:30 PM

Re: Charging wedding expenses

Posted by alioop4282

If you can afford to pay it..like the have the money on the side...then I say you SHOULD charge it..only because if you get screwed somehow, the credit card company is usually on your side and you can get your money back.

This is exatly what we are doing, plus we really wanted to get the point from our AMEX card to go towards our Hawaii trip.

akaMrsT Posted: Jun 16, 2006 03:02 PM

Re: Charging wedding expenses

for sarahradio5

A 0% card would be a great option.

MJDoc12 Posted: Jun 16, 2006 04:53 PM

Re: Charging wedding expenses

Posted by akaMrsT

for sarahradio5

A 0% card would be a great option.

0% card IS a great thing....BUT always remember that those are introductory offers. if you do not pay the ENTIRE balance off before the year is up...most companies will add the entire year's interest on purchases in one lump sum.

for example: if you transfer a balance of $1500 to a 0% interest card or make purchases in that amount, for 1 yr. and at the end of the 12th month you still owe $150 on it, guess what? they will add the entire year's interest from the original $1500 to your bill. (and many times the interest rate is 18-24%!!!)

also, with these offers, if you make ONE SINGLE late payment, even if it's NOT your fault (such as a delay in mail) they have the right to charge you the full interest for the year.

many times people see the special offers and get excited and then things happen and they are unable to pay off the balance before the deadline--and they are stuck with more debt than they started out with.

just an FYI for those who are charging NOT because you want points, but because you don't have the money yet.

also---keep this mind:

$3000 at 18% interest, using a minimum payment of 2.5% ($75.00 a month) would take 263 months to pay off (almost 22 years), in which you would pay $ 4115.44 in interest.

remember that each time you pull out the plastic people!