(Closed) Using a Credit Card

posted 6 years ago in Money
Post # 3
Member
9917 posts
Buzzing Beekeeper
  • Wedding: June 2013

I will be using one credit card to make purchases, but most of the money will come from actual money.  Meaning, it is ours and in the bank.  It’s easy to fall into debt with credit cards, so be careful!  As long as you have a plan of how to pay it back, it’s fine.  Maybe start making small purchases and paying them back each month, so you get used to it.

Post # 4
Member
13010 posts
Honey Beekeeper
  • Wedding: November 1999

I’m charging as much as I can for the wedding and then paying it off right away just so I can get the airmiles.  So it’s not spending out of my budget, and I’ve got the money, but I may as well get all these airmiles!

Be careful with the fine print.  My caterer charges an additional 4% fee for using a credit card for any payments!

Post # 5
Member
1934 posts
Buzzing bee
  • Wedding: August 2012

I’m sure a lot of bees will caution you against this, but if you are 100% aware that unforseen things can come up in life, and you KNOW you will be reinbursed by family members, then go ahead.  Just be careful about what you’re getting yourself into.

Post # 6
Member
13099 posts
Honey Beekeeper
  • Wedding: July 2010

We put pretty much every purchase on a credit card to take advantage of the points.

BUT we always pay everything off in full at the end of the month.  I refuse to carry a credit card balance.  If we don’t have the money to pay for it right now, putting it on a credit card isn’t an option for me.

Post # 8
Member
1830 posts
Buzzing bee
  • Wedding: November 2014

As long as you pay off your balance in full each month, then there is 0% wrong with it. It’s a great way to get extra security and perks.

Also, I completely understand staying within budget, but things being due before you physically have the money. Although emergencies DO come up, and catastrophes happen, I feel that if you put something on a 0% interest CC and have a plan to pay it off in X amount of months (say, 3), then it’s a little riskier, but still okay as long as you are rigid with it MUST be paid off by X date. Often big expenses all come at once, so, like I said, I think this isn’t the worst idea.

Now, putting $5000 on a credit card just because you CAN….not a good plan!

Post # 9
Member
547 posts
Busy bee
  • Wedding: May 2012

Being in our late 30’s any kind of debt even if we could pay it off soon was out of the question for a wedding or honeymoon. Not saying it does not work out of some but we won’t pay inertest on anything unless it’s totally necessary like a car or house. 

Post # 11
Member
1830 posts
Buzzing bee
  • Wedding: November 2014

@BetterSherm:  I guess it depends on the kind of person you are, more than anything. For me, I always pay mine off 100% right away. I have autopay set to pay the full amount.

If you have 0% on your card for, say, a year, you might be tempted just to let the balance “ride” for a few months, and spend money on other things. This could be okay, but you might end up regretting if if you’re down to the last 2 months and suddenly you don’t have the cash to pay it off before interest comes a’knockin.

I think paying it off 100% each month just helps avoid temptation to let the balance ride a few months/weeks more and not have a rigid pay-off plan because it’s not *technically* costing you anything.

Post # 13
Member
4313 posts
Honey bee
  • Wedding: November 1999

If it’s 0%, I would.  Just make sure if you use it after to be careful — sometimes those APR’s are through the roof.  Pay it off immediately!

ETA: And whatever you do, DO NOT DEFAULT ON ANY PAYMENTS!  I know that goes without saying, but your 0% will go right out the window if you do that.

Post # 14
Member
1830 posts
Buzzing bee
  • Wedding: November 2014

@BetterSherm:  Yep, sounds like you’ve got it covered. Life happens, and when it rains it pours, right? Pay off as much as you can, and as long as you aren’t going outside your budget, pay the rest ASAP, but don’t stress to much about having a bit of a balance on a 0%. Sounds like a good plan 🙂

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