bride and groom doing online shopping

How to fund your wedding with a credit card

Learn more about how a credit card could help you say “I do”.

It’s no secret: weddings are expensive. A survey conducted my MoneySmart in 2012 put the average cost of a wedding at $36,200. It also found that about 60% of respondents got a loan to cover the costs and 18% used a credit card.

The cost today could be more or less, but either way, there is a good chance that you’ll need a large sum of money to pay for your big day. If you’re considering using a credit card to help cover the costs, read this guide to learn about your options and the key details you’ll need to consider when deciding if paying with plastic will work for you. If you are looking for a personal loan, you may consider comparing wedding personal loans.

Types of credit cards you could use to fund your wedding

Photography, venue hire, food and flowers are typical wedding expenses. Whether you’re using a low rate credit card so you can buy now and pay later, or a rewards credit card so you can honeymoon on the points, we look at the advantages and disadvantages of each type of card.

Low or no interest credit cards

Low or no interest credit cards are characterised by either a low ongoing purchase rate of interest or low or no interest on purchases for a limited period of time. For expenses relating to a specific event, such as a wedding, you may want to consider credit cards with 0% purchase rate promotional offers for more than one year. This allows you to charge the cost of purchases like catering to the account when you need to and gives you time to pay off the balance without accruing interest.

Keep in mind that some low rate cards don’t offer extras or rewards. So if you want to take advantage of these features for your honeymoon (and beyond), you may want to consider a low rate platinum credit card or look at cards in different categories.

Compare low or no interest credit cards

Rates last updated September 24th, 2018
Name Product Purchase rate (p.a.) Interest Free Period Annual fee Balance transfer rate (p.a.) Product Description
ANZ Low Rate
12.49% p.a.
Up to 55 days on purchases
$58 p.a.
0% p.a. for 15 months
With a low minimum credit limit of $1,000, this no frills card allows you to add up to 3 additional cardholders for $0.
Citi Clear Platinum Credit Card
12.99% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
0% p.a. for 14 months
Offers a 0% p.a. for 14 months balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
Bendigo Bank Low Rate Mastercard
11.99% p.a.
Up to 55 days on purchases
$45 p.a.
A no-frills card with a competitive annual fee, a low variable purchase interest rate of 11.99% p.a. and up to 55 interest-free days on purchases.
St.George Vertigo Platinum - Online Offer
12.74% p.a.
Up to 55 days on purchases
$99 p.a.
0% p.a. for 25 months
Save with 0% p.a. interest for up to 25 months on balance transfers with no BT fee. Plus, platinum perks, including overseas travel insurance.
Westpac Low Rate Card
13.49% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($59 p.a. thereafter)
0% p.a. for 24 months with 1% balance transfer fee
Offers a 0% for 24 month balance transfer option, first year annual fee waiver and a competitive purchase rate.
ME frank Credit Card
11.99% p.a.
Up to 55 days on purchases
$0 p.a.
Save money with a $0 annual fee for life, the same low 11.99% p.a. interest rate on purchases and up to 55 days interest-free.
Virgin Australia Velocity Flyer Card - 0% Interest Offer
0% p.a. for 14 months (reverts to 20.74% p.a.)
Up to 44 days on purchases
$129 p.a.
0% p.a. for 6 months
Enjoy 0% p.a. interest on purchases for 14 months. Plus, the chance to earn 1 million Velocity Points. Ends 31 Oct 2018.
Citi Clear Platinum - Exclusive Offer
14.99% p.a.
Up to 55 days on purchases
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
0% p.a. for 24 months with 1.5% balance transfer fee
finder Exclusive: Ends 30 September 2018 Receive 0% p.a. for 24 months on balance transfers and a discounted annual fee in the first year. Plus, access to Citi World Privileges.
Bankwest Breeze Platinum Mastercard
0% p.a. for 13 months (reverts to 12.99% p.a.)
Up to 55 days on purchases
$99 p.a.
0% p.a. for 13 months with 2% balance transfer fee
Receive a 0% p.a. interest rate on purchases and balance transfers for 13 months, complimentary travel insurance and 0% foreign transaction fees.
St.George Vertigo Visa
13.74% p.a.
Up to 55 days on purchases
$55 p.a.
0% p.a. for 16 months
Get 0% p.a. interest for up to 16 months on balance transfers with no BT fee. Plus, a competitively low annual fee and purchase rate.

Compare up to 4 providers

Compare low or no interest on purchases

Rewards credit cards

If you use a rewards credit card to pay for your wedding, not only could you earn points on your necessary wedding costs, you could then use the points to redeem rewards to pay for the cost of domestic and overseas flights, accommodation and travel packages for your honeymoon. Plus, some cards offer bonus points on signup, which could really help bolster your points balance.

There are two main types of rewards cards on the market: frequent flyer credit cards and rewards credit cards. A frequent flyer credit card gives you frequent flyer points when you make eligible purchases, and a rewards credit card gives you points with a dedicated provider program, such as CommBank Awards.

The main difference between these two options is the scope of rewards. Frequent flyer rewards programs such as Qantas or Velocity provide travel-focused rewards whereas rewards programs such as CommBank Awards or Citi Rewards have an equal focus on merchandise rewards as well as flights with a number of partner airlines. So if you’re loyal to one airline, such as Qantas or Virgin, a frequent flyer credit card might be the right choice. If you want more flexibility with your rewards, consider a rewards credit card that you can use to redeem rewards for cashback, merchandise from the online store or flights with one of the bank’s partner airlines.

Some of these cards also include perks such as complimentary international travel insurance, which could save you hundreds of dollars on purchased insurance for your destination wedding or honeymoon. As rewards credit cards tend to have higher annual fees and interest rates, it’s important to make sure that the value of the rewards you redeem outweighs this cost.

Compare rewards credit cards

Rates last updated September 24th, 2018
Name Product Bonus Points Rewards Program Rewards Points per $ spent Purchase rate (p.a.) Annual fee Product Description
American Express Explorer Credit Card
75,000 bonus points
Membership Rewards Gateway
2
20.74% p.a.
$395 p.a.
Get 75,000 bonus Membership Rewards points, a yearly $400 Travel Credit and 2 entries per year to the American Express Lounge. Ends 26 Sept 2018.
St.George Amplify Signature - Qantas - Online Offer
90,000 bonus points
Qantas Frequent Flyer
0.75
19.49% p.a.
$179 p.a. annual fee for the first year ($279 p.a. thereafter)
Offers 90,000 bonus Qantas Points when you spend $4,000 within 90 days, two yearly Qantas Club lounge passes and a reduced first year annual fee.
Qantas Premier Everyday
40,000 bonus points
Qantas Frequent Flyer
0.75
19.99% p.a.
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Take advantage of up to 40,000 bonus Qantas Points, a $0 first year annual fee plus complimentary overseas travel insurance.
American Express Velocity Platinum Card - Exclusive Offer
70,000 bonus points
Velocity Frequent Flyer
1.5
20.74% p.a.
$375 p.a.
finder Exclusive: Ends 26 September 2018 Receive 70,000 bonus Velocity Points when you spend $3,000 within the first 3 months. Plus, Status Credits & lounge passes.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
60,000 bonus points
Velocity Frequent Flyer
0.66
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 60,000 bonus points in the first 3 months with a $64 first year annual fee. Plus, the chance to win 1 million Velocity Points.
Qantas Premier Platinum
60,000 bonus points
Qantas Frequent Flyer
1
19.99% p.a.
$299 p.a.
Get 60,000 bonus Qantas points and a $300 Qantas Flight Voucher when you spend $4,000 in 90 days. Plus, complimentary lounge passes.
HSBC Platinum Qantas Credit Card
60,000 bonus points
Qantas Frequent Flyer
1
19.99% p.a.
$199 p.a.
Receive 60,000 bonus Qantas Points when you spend $3,000 within 3 months of card approval, plus enjoy complimentary travel insurance.
Virgin Australia Velocity Flyer Card - 0% Interest Offer
Velocity Frequent Flyer
0.66
0% p.a. for 14 months (reverts to 20.74% p.a.)
$129 p.a.
Enjoy 0% p.a. interest on purchases for 14 months. Plus, the chance to earn 1 million Velocity Points. Ends 31 Oct 2018.
NAB Qantas Rewards Signature Card
90,000 bonus points
Qantas Frequent Flyer
1
19.99% p.a.
$295 p.a. annual fee for the first year ($395 p.a. thereafter)
Collect 90,000 bonus Qantas Points when you spend $4,000 within 60 days of account opening. Plus, a $295 annual fee in the first year.
Westpac Altitude Platinum Card - Qantas
60,000 bonus points
Qantas Frequent Flyer
0.5
20.24% p.a.
$50 p.a. annual fee for the first year ($200 p.a. thereafter)
Earn 60,000 bonus Qantas Points when you spend $3,000 within 90 days of card approval. Plus, a $50 first year annual fee.

Compare up to 4 providers

Maximise points through rewards credit cards

High credit limit credit cards

Rewards, frequent flyer, gold, platinum, diamond, black, Signature and Prestige credit cards typically offer higher credit limits than no annual fee and low rate credit cards. Whichever card you choose, just be sure the credit limit is high enough to cover your expected expenses. You can view the product’s maximum credit limit by reading our credit card review and application pages.

Note that the actual credit limit you get is calculated based on your income and expenses. The more you earn and the lower your expenses, the more you can borrow. If you have other credit cards, the credit limit on these products will reduce your borrowing power if you want to apply for more credit. This is especially important if you’re looking at balance transfer credit cards.

Balance transfer credit cards

If you have already paid for some of your wedding costs with a credit card, you may want to consider a balance transfer credit card. This type of card can save you money on interest repayments by giving you a promotional interest rate for a limited period of time. Use your existing credit card to pay for your wedding expenses and apply for a balance transfer credit card so you can transfer the debt and get a lower interest rate.

The balance transfer period starts from when you activate the card. The balance transfer rate of interest reverts to the purchase rate or cash advance rate of interest, which will be applied to any remaining debt at the end of the promotional period.

Compare credit cards with balance transfer offer

Rates last updated September 24th, 2018
$
% p.a.

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Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Amount Saved Product Description
St.George Vertigo Platinum - Online Offer
0% p.a. for 25 months
12.74% p.a.
$99 p.a.
Save with 0% p.a. interest for up to 25 months on balance transfers with no BT fee. Plus, platinum perks, including overseas travel insurance.
Westpac Low Rate Card
0% p.a. for 24 months with 1% balance transfer fee
13.49% p.a.
$0 p.a. annual fee for the first year ($59 p.a. thereafter)
Offers a 0% for 24 month balance transfer option, first year annual fee waiver and a competitive purchase rate.
Suncorp Clear Options Platinum Credit Card - Exclusive Offer
0% p.a. for 18 months
20.74% p.a.
$99 p.a. annual fee for the first year ($129 p.a. thereafter)
finder Exclusive: Ends 30 September 2018 Receive a long 18-month, 0% p.a., no fee balance transfer and earn Suncorp Rewards Points or Qantas Points per $1 spent.
Citi Clear Platinum - Exclusive Offer
0% p.a. for 24 months with 1.5% balance transfer fee
14.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
finder Exclusive: Ends 30 September 2018 Receive 0% p.a. for 24 months on balance transfers and a discounted annual fee in the first year. Plus, access to Citi World Privileges.
ANZ Low Rate
0% p.a. for 15 months
12.49% p.a.
$58 p.a.
Save with a 0% p.a. introductory rate on balance transfers for 15 months with no BT fee. Plus a low 12.49% p.a. interest rate on purchases.
St.George Vertigo Visa
0% p.a. for 16 months
13.74% p.a.
$55 p.a.
Get 0% p.a. interest for up to 16 months on balance transfers with no BT fee. Plus, a competitively low annual fee and purchase rate.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 60,000 bonus points in the first 3 months with a $64 first year annual fee. Plus, the chance to win 1 million Velocity Points.
NAB Low Fee Platinum Card
0% p.a. for 24 months with 2% balance transfer fee
19.74% p.a.
$90 p.a.
Offers 7 complimentary insurance covers, a 0% p.a. for 24 month balance transfer and access to a 24/7 concierge service for a $90 p.a. annual fee.
Citi Clear Platinum Credit Card
0% p.a. for 14 months
12.99% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a 0% p.a. for 14 months balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.

Compare up to 4 providers

Balance transfer credit cards with rewards programs

Mistakes to avoid when using a credit card for your wedding

  • Spending more than you can afford to repay. Budgets do get blown; in fact, 35% of respondents to an ASIC wedding survey said they spent above their budget for their big day. Credit cards can make it easy to forget about debt, but charging more to the card than you can afford to repay is going to put you on the financial back foot down the track.
  • Late repayments. Late payment fees are the obvious consequence of late credit card repayments, but think about your credit history and standing with the bank too. If you have a history of missed credit card repayments, financial institutions will be reluctant to give you other forms of finance such as a home loan.
  • High interest charges. If you use your credit card to finance your wedding and carry a balance, you may end up with a bigger debt due to interest charges. Keep this in mind when considering your budget and comparing credit card options so that you can choose a card or other payment method that’s affordable for your circumstances.

A credit card is a short-term cash flow tool that could help finance your wedding. Features such as interest-free periods, rewards and balance transfers can help take the financial burden off your special day. But remember to consider the ongoing costs of the card, and the standard rates and fees that could apply at the end of promotional periods so that you can decide if this is an affordable way to fund your special day.
Images: Shutterstock

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Sally McMullen

Sally McMullen is an editor at finder.com.au who is a credit cards, frequent flyer and travel money expert by day and music maven by night.

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Credit Card Offers

Important Information*
Citi Clear Platinum Credit Card

Interest rate

12.99

Annual fee

0*

*$99 p.a. after first year

Westpac Altitude Platinum Card - Qantas

Interest rate

20.24

Annual fee

50*

*$200 p.a. after first year

ANZ Low Rate

Interest rate

12.49

Annual fee

58

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