More than half of couples surveyed by Bored Panda consulted WalletHub’s finance expert Chip Lupo on using credit cards for wedding expenses. Lupo advises that while it can be a helpful strategy, the key is to avoid long-term debt and utilize credit card benefits effectively, such as rewards or 0% APR offers. He also suggests other options like scaling back on plans or saving in advance to avoid debt.
credit card debt in the U.S. totals a whopping $1.17 trillion. More than half the couples that took part inBored Panda reached out to WalletHub’s finance writer and analyst Chip Lupo, to see what he had to say about using credit cards to cover wedding expenses . The expert believes it can
“For example, a rewards credit card or one with a 0% introductory annual percentage rate can reduce costs or provide valuable perks such as travel points you can use toward the honeymoon.” However, he adds that you should only charge what you can afford to repay during the interest-free period. He says you can also consider transferring balances to a card with a 0% introductory APR if possible. Alternatively, you can explore personalto consolidate your debt at lower interest rates. Lupo says you should definitely try to avoid
“Spend what you can afford, preferably from funds saved and not borrowed,” he cautioned. “If you need to finance certain expenses, as mentioned before, use a credit card with a 0% APR and pay it off before the interest kicks in. Avoid relying on loans, as they can quickly lead to long-term debt.”
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US Credit Card Debt Reaches $1.17 Trillion: Expert Tips for Managing Wedding ExpensesCredit card debt in the U.S. totals a whopping $1.17 trillion, with many couples turning to credit cards to cover wedding expenses. Finance expert Chip Lupo from WalletHub suggests using credit cards responsibly, such as through rewards cards or those with 0% APR, to avoid long-term debt and capitalize on perks. However, he emphasizes the importance of only charging what can be repaid during the interest-free period and suggests alternative cost-saving measures.
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Credit Card Debt in the U.S. Reaches $1.17 Trillion; Expert Offers Tips for Responsible Wedding ExpensesWith U.S. credit card debt totaling $1.17 trillion, finance expert Chip Lupo from WalletHub offers advice on managing wedding expenses responsibly. He suggests using credit cards with 0% APR or rewards programs but emphasizes the importance of repaying debts within interest-free periods and avoiding maxing out credit cards.
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Credit Card Debt in the U.S. Surpasses $1.17 Trillion: Tips for Managing Wedding ExpensesWith U.S. credit card debt at a staggering $1.17 trillion, finance expert Chip Lupo from WalletHub offers advice on using credit cards responsibly for wedding expenses. He advises on the importance of avoiding long-term debt and utilizing credit card benefits effectively, such as rewards or 0% APR offers. Other suggestions include scaling down wedding plans and saving in advance.
Read more »