[Infographic] How Credit Cards Can Help You Cash in on Your Wedding
It’s known as one of the most important days of your life. Your family and friends all gathered to celebrate your future partnered with the love of your life. And while planning the celebration can be exhausting, it can also illuminate the well-known fact that weddings can cost a lot of money: the average wedding in Canada costs $30,717.
Many couples save up for their big day, with few charging their wedding expenses to their credit cards. What you should be doing, however, is saving that money, using a rewards credit card, then paying off the balance. By doing so, you’re banking a ton of rewards that can be used toward new housewares, post-wedding expenses, and even your honeymoon.
That said, this is only recommended if you have enough cash available to pay off your entire bill, since you don’t want to hold a balance and pay interest. As you make purchases, try to pay off the balance right away; don’t wait until the end.
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Using data from Weddingbells’ Annual Reader Survey and BMO InvestorLine’s Survey, we’ve showcased all the best tricks for using credit cards to your advantage while preparing for and enjoying your wedding festivities:
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