S/O: Credit Cards

Narwhal

I don't want a credit card. Honestly, they scare me a little. Too much fine print, I'll just do without.

However, I read in my anti-bride planning book (which is awesome, btw) that it is best to get a credit card for wedding charges (as long as you pay it off by the end of the month) because it leaves a nice paper trail for vendors in case there are disputes about whether or not and how much you paid them.

I guess as long as I knew that I had the money BEFORE I charged it, it seems like a good idea.

Do you have (or would you get) a credit card specifically for wedding charges?

jemmini6

I don't have one specifically for wedding charges, but I have been charging most wedding stuff on there (and paying it off of course), but mostly because I get rewards points. 

sparkles88

Do you have a debit card through your bank? Some debit cards are linked with companies like Visa, so it can double as a credit card if you need to make a purchase. My debit card, for example, can make purchases online or reserve hotel rooms and I just click that I'm using a Visa. If you plan to already have the money there for your expenses, maybe you might want to look into that. There also should still be a paper trail through your bank. All of my charges show up on my online banking.

leia1979

I just use my regular credit card so I get airline miles. If you don't currently have one, I think it's a good way to track payments and to help build your credit rating. Just be vigilant and you won't have a problem.

paintgirl

I use one card for business expenses and one for personal. The one I use for business expenses racks up better points so I can see switching the two for wedding purposes. The other earns points but they're harder to use.

It's definitely good to make big purchases on a credit card if you're ready to pay the minute they show up on your account. Most cards have some type of insurance included on the card. (Debit cards don't always have that insurance coverage. Debit cards rock unless you need a rental car!)

Sparkles - Gorgeous cat! What a beautiful coat! Tell me more about him/her. Narwhal won't mind a threadjack for a quick critter post.

nottheonlydreamer44

I only have one credit card for emergencies ($500) limit and SO has 2. One we need to pay off completely but we haven't used it for wedding stuff. For the most part we have paid everything with a check or cash. I was pretty determined not to put anything on a card this time around.

Last time, it really did help just to have 1 card to put everything on. Easier to track and you weren't looking at your bank account all the time. Personally, I think the insurance part is the biggest deal.

loves2shop4shoes

I have 4 credit cards.  They have different kinds of points/benefits to using them.  I don't keep a balance on them.  I think the key with credit cards is to treat them like debit cards:  pay them off in FULL, every single month.  

Having credit cards is really important to help you establish credit, so I'd recommend them for that reason.  Also, if you have a dispute over a charge or a vender screws you, it's good to be able to dispute the charge.  A debit card just doesn't afford you the same opportunity.

sparkles88

Paint- You are right about the debit card and renting a car. My car broke down last week, so I had to rent one. I was still able to do it, but it was a bit of a hassle.

Thank you for the compliment about the kitty. He's a gray spotted tabby. His name is Sebastian or C-Bass (my old roomie's nickname for him). I got him when he was 3 months old from a lady on Craigslist. He'll be two in May. Even though he looks cute, he's a jerk.

Goldlie11

I have 2 CC that I use regularly.  They are paid off at the end of the month.  I haven't carried a balance for a long time.  I've used both of them for wedding expenses.  

Anyway, some vendors offer a cash discount.  If you pay in cash, just make sure you get a detailed receipt.  So, you might want to do that.  I've written checks for most things.  When the check is processed through my bank, I print out a copy.  Also, on the memo, I'm as specific as possible (i.e. 50% deposit).  I have used my CC for certain items.  Discover had a promotion with one company.  I got $80 cash back on FI's wedding band  

I also bought wedding insurance.  You might want to do that too.  It's really not that expensive.

paintgirl

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/special-topic-wedding-boards_not-engaged-yet_credit-cards?plckFindPostKey=Cat:Special Topic Wedding BoardsForum:136Discussion:2f518ecc-4895-43cd-842b-3a5d181021aePost:19e08075-71dd-49c4-a5fd-f0791aac259b">Re: S/O: Credit Cards</a>:
[QUOTE]Thank you for the compliment about the kitty. He's a gray spotted tabby. Even though he looks cute, he's a jerk.
Posted by sparkles88[/QUOTE]

Just like men - best lookin' ones are aholes. :) I had a pure white cat - absolutely gorgeous - who was a total booger.

heyimbren

Narwhal, I felt the same way before I got my first CC. I just got one in the summer, and I find it is handy to have. I never carry a balance, and I have a small limit on it. If it's going to make things easier for you with wedding purchases I'd go for it. The main reason I got one is so that I can buy things online/book things without a big hassle.

katanne9

I used to be afraid of CCs too.

I got one and slowly started it using it more and more. Now I use it pretty much for all my expenses. However, I pay it off in full 100% every month. If you are prone to spending money you don't have, I would be more wary.

If you use them responsibly, there are a LOT of perks!! (Free shipping with certain companies, cash back, FF miles).

I think getting a CC for a wedding account is actually a great idea. It would be a good way to keep track of 100% of your expenses. However, I did pay for most thing with a check. I'm sure there was probably a credit way though.

PaigeMcC

We pay all of our wedding expenses with cash or cheque.  I won't buy it if I don't have the cash.  That being said I got a CC many years ago and had a bad experience with it (had a room mate that promised to pay for oil for our heat when she got paid, so I put $800 worth of oil on my CC.  Needless to say I never got the money and some of that $800 is still sitting on there from last year.  I'm working on paying it off.) so I don't like putting large purchases on it.  It's an emergencies only kind of thing.

However, if you make the effort to pay it off monthly and not carry a balance then I think the benefits (points, discounts, etc) could be worth it.

Hazel_B

I have 2 ccs, both with some sort of benefit. The one with air miles we use regularly and it is how we go to California for BFs family. I know you can also get gift certificates through it too. The other one is a cash back one.

Narwal, as long as you are responsible and pay off your bill in full every month there is no reason to be afraid. They offer way more security than a debit card, in fact I rarely use my debit for that reason. I am also paying off my entire bill every month though.

You may be managing just fine without a cc, but keep in mind that it is easiest to get a cc when you are a student. You want to start developing a good and substantial credit history long before you want to buy a house. The minor uses of buying gas or whatever will translate into good interest rates later on.

jeanacorina

We got a CC for our wedding expenses. We budgeted very carefully, and having a CC allowed us to make payments when we needed or wanted to and then pay them off with the next paycheck, essentially. It worked out very well, and there was one item we ordered and paid for that never came in... the vendor didn't respond to emails or phone calls, and just dropped off the face of the earth. Josh called the CC company, and the amount was credited back to our card the next morning. Easy peasy.

I'd suggest it. Just be cautious, budget ahead of time, and don't go using the card for fancy dinners on a whim (DH is so guilty of that... we've had "discussions").

nannewmur

I saw this and wanted to make a comment from something that happened to me several years ago.  It is much wiser to use a credit card over a debit card when booking your vendors, a trip, etc. 

My DH and I booked a cruise and two other couples were going with us and we were all meeting at the travel agency to finalize date and put down payment.  The travel agent was a friend and when it came time for the down payment, he said make sure you use a credit card, not a debit card.  He said you would be amazed at the number of cruise lines that go bankrupt, etc and just don't show up at the dock to pick up passengers.  If you have it on a cc, you get your money back usually within 24 hours and with a debit card, you may not get it at all.

  Friend, despite this warning, accidently pulled out a debit card and put $500 on it.  Next day friend called to say  cruise line has filed bankruptcy (can we pick them or what?).  My $$ was given back within three days, the friend who used debit card got only $200 back and it took 5 months.  The same works with vendors-if you put dp down and they close, go bankrupt, etc, you did not get service so you are refunded money.  Besides, if you were going to use a debit, it would come out of your acct almost immediately so why not use a CC, build credit, pay it off immediately and have some peace of mind?

motoLyn

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/special-topic-wedding-boards_not-engaged-yet_credit-cards?plckFindPostKey=Cat:Special%20Topic%20Wedding%20BoardsForum:136Discussion:2f518ecc-4895-43cd-842b-3a5d181021aePost:000093f5-bee8-4087-a460-90c8f94c99cf">Re: S/O: Credit Cards</a>:
[QUOTE]I just use my regular credit card so I get airline miles. If you don't currently have one, I think it's a good way to track payments and to help build your credit rating. Just be vigilant and you won't have a problem.
Posted by leia1979[/QUOTE]

We use FI's card so that we can get airline miles, the way he and I work it is we don't charge it unless we have the money ready to pay the charge before the end of the month.  That way he builds a credit line and gets the miles.  But we only do that for large purchases, hence wedding stuffs and big ticket electronics.  I had a large debt on my Cc and worked to pay it off.  My philosophy on Cc is not to use it unless I have to. So Cc is for emergencies only.  ALSO watch out what the card does, read the fine print cause some of them can have some harsh penalties.

calindi

I am extremely anti-credit card.  I didn't have one until I was 24 years old.  I still don't carry a balance EVER (not even a penny), but I've been converted and wish I had gotten one sooner.  Here's why - I wanted a good credit rating.  While paying utilities on time can help slowly build up some credit, it's very slow.  If you have college debt or car loan payments, that can also help build up credit, but I don't have either.  So I realized at 24 years old that I had really shot myself in the foot - I had absolutely no credit history, and could only get a credit card that I paid $25/year for, with only a $500 credit limit.  The APR was stupid high (not that it matters, since I pay it off, but still).  And if I wanted a loan (for a car or a house), I'd be stuck with a high interest rate because I don't have much credit history.

There's sadly not much difference between no credit history and bad credit history.

I'd advise you to get a credit card, wedding or no.  Chances are you can't get one with a credit limit high enough to cover most vendor's payments (it took me a full year before my credit limit was increased to $5,500 instead of $500).  Putting it on a debit card with a bank will accomplish the same goal of having a paper trail - however, your bank isn't required to reimburse you for any fradulent charges or interfere with the vendor if something goes wrong.  A credit card company will credit you the money if you can prove you didn't get the service you paid for, and they'll go after the vendor.

In short - get one, build credit, but pay it off EVERY SINGLE month.