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
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.
I charged everything except the hall pretty much. My gown, the HM, favors, etc.
tann22
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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
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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
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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
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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
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Re: Charging wedding expenses
for sarahradio5
A 0% card would be a great option.
MJDoc12
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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!