Considering the average wedding in the United States as of 2018 costs upwards of $30K, couples who get engaged today and want to say ‘I do’ tomorrow might come up short on change. Even for those duos who decide to have a low-key love affair, there are still expenses associated with every feature of a big day—the food, the drinks, the space, the dress, you name it. Tradition states the parents of the bride fork over the moolah for the main event, but as more people choose to delay marriage until their late 20s and early 30s, many brides and grooms are taking on the invoices themselves.
In addition to stowing away dollars in your savings account every paycheck, there are some credit cards that can help you build up your wedding fund faster. The only trick is to read the fine print of what you’re signing up for to ensure it’ll actually work in your favor. And Beverly Anderson, the executive vice president and head of cards and retail services at Wells Fargo, explains that there are certain keywords to look out for like rewards and low-introductory APR. “Using a credit card with a rewards program can make a difference when you’re planning to incur large ticket costs—like an amazing venue or dream honeymoon.”
Do you travel for work—and fun? Does your partner enjoy jet-setting too? If so, Melodie Carlson, the chief operating officer at Sunrise Banks recommends this pick from Capital One. It offers 2-times the miles on every purchase made on the card and they won’t expire for the life of the card. It also includes TSA Precheck and Global Entry, permitting you to say ‘yes’ to that amazing flight deal you’ve been tracking to celebrate your three-month anniversary.
Sort of like getting paid to travel and well, check off your chores, Anderson says Wells Fargo created this card to provide customers rewards and experiences for doing the things they already do. You can earn 3-times rewards in many categories—from eating out and ordering in to travel and transit, including gas stations, rideshares and more. Did we mention streaming services are also included? If you have a big deposit to put down, you can also earn rewards for using this card, since new members receive 30,000 bonus points if they spend $3,000 in the first three months. Win-win!
Another cashback option for couples is this highly-rated selection from Discover. “All purchases on the card receive one percent cash back automatically and five percent quarterly on different categories. The cashback never expires and can be redeemed in any amount, at any time,” Carlson explains. If you use this for the majority of your wedding expenses, you could get a great payout at the end of the year, since Carlson notes their introductory offer matches all of the cashback you receive at the end of your first year.
If you’re online shopping for many of the goods for the wedding, your spending could actually result in savings. Think of it this way: You spend $2,000 on invitations but you earn 3 percent cashback with this Bank of America Cash Rewards credit card, so you actually paid $1,930. “whether you’re online shopping for decorations and invitations, or putting a deposit down on your rehearsal dinner, you can earn rewards that you can then use as cashback or invest into accounts such as your new joint savings or your future child’s 529 account,” explains Bank of America credit card executives Jason Gaughan. This card offers 3 percent cash back each month by selecting one of six categories including gas, online shopping, dining, travel, drugstores, and home improvement and furnishings. When you have this card, you also earn an additional 2 percent on grocery and wholesale purchases, as well as 1 percent on everything else—making it ideal as your everyday plastic.
Carlson says this card not only offers a cashback—but double cash back, giving you the opportunity to earn three percent on all of your purchases in the first year, up to $20K. If you’re going for an intimate event, that could be every wedding expense! “The cash rewards don’t expire as long as your account is open and you can redeem with no minimum amounts,” she adds.