Funding Marriage with Credit Card.
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My sister's planning her marriage soon, and she's planning to fund in on a new credit card. She has a decent credit history, anyone got any suggestions of a card she might want to look into?
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My sister's planning her marriage soon, and she's planning to fund in on a new credit card. She has a decent credit history, anyone got any suggestions of a card she might want to look into?
By funding, do you mean my getting a cash advance on the card, or do you mean by paying for all the services on the card and then repaying?
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By funding, do you mean my getting a cash advance on the card, or do you mean by paying for all the services on the card and then repaying?
Sorry, should have provided that detail. She's planning to pay all the services on the card and then make then repay.
That decision isn't concrete however, if a there's a better offer with a cash advance then she would be open to that as well.
If yes, then FF points should be an issue.
If not, then I think interest rate should probably be the biggest factor!
May be a possibility to combine both, by paying it all onto one card (get points), and then taking advantage of a low/no interest rate balance transfer onto another card.
As you are planning to pay it off straight away, then the main issues will be
1) Something with a big enough credit limit - what sort of bills are you hoping to put on it....
2) Any restrictions on what the service providers will accept
I lean towards Amex, but would need to check on acceptance and any fees that may be involved in doing so
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Re: Funding Marriage with Credit Card
Quote:
Originally Posted by drron
37 years of marriage have all been funded by credit card.
I agree - but 37 years is a lot of monthly statements. In our relationship our financial planning is simple - I earn it - she spends it. It works - no arguments!! To the OP - I would encourage your sister to try to keep her outstanding balances as low as possible. Weddings can be very expensive and this could make interest repayments punitive. Look at St (george) Westpac - I think they have a good low interest card.
In my case 39 years and she still has every statement. In our house financial planning is even simpler. Yes, I earn it and she spends it, but if there is ever a problem with that we sit down at the dinner table and discuss it like mature adults and then we vote on the result. I lose every time - one to one!
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