Rewards card for paying wedding off!

bonnyscot_25

Hi guys,

use this site all the time and love it. First post however...here goes!

I have 20,000 to pay off the rest of the wedding thats happening in July. I was thinking, would it not make sense to use a rewards credit card and pay off the entire amount in full each month (or immediately when i get home from my purchases).

I was looking at the Virgin atlantic black card that gives you 2 air miles for every pound spent and 6000 bonus miles. DOes anyone think this is a good idea or are there better reward deals out there that i could be taking advantage. Remember, i have the 20k sitting here right now waiting to be spent (the cash had previously be earning nice interest).

what do you think?

moneysavingwannabe

Hi,

Congrats on the wedding, I'm also getting married in July.

We have been having building work done and I have been putting whatever I can on a 0% credit card for 15 months. This means I have been able to keep quite a lot of money in savings which is earning interest while I have no interest to pay on the money borrowed.

I am going to pat the whole lot off at the end of the o% but meanwhile will have earnt some interest.

(Hope my wedding doesn't cost too much - just spent £40,000 on the house!)

CannyJock

Damn, add me to the July wedding list

Yes, 0% purchase cards are best option IMO. Full list ranked at: http://www.stoozing.com/purchases.php

Interest on an ISA would be 6.5% (Barclays), interest on savings 6.5% before tax (Kaupthing edge).

Don't think any reward or cashback card will beat that. For £ 20K you'll need a few cards, but the more you can get on 0% the better.

Fingers crossed for the July weather

bonnyscot_25

Hi there,

Yes it seems to be that time of year for weddings eh!

I was thinking of using the virgin card to get air miles back so that i could go some travelling with it. Spend 20 grand on it then pay it off, then get the air miles in return. Dont know if it actually works like that right enough.....

Just hate to think my money is just sitting here whem i could be doing something with it.

Surely cash back must give me something back? by the way, im just starting to use credit cards a bit so nowt sure how best to use my money!!

COngratualtions on the weddings and i hope they all go well. Cant believe how expensive they are!!!

CannyJock

bonnyscot_25 wrote: »

Hi there,

Yes it seems to be that time of year for weddings eh!

I was thinking of using the virgin card to get air miles back so that i could go some travelling with it. Spend 20 grand on it then pay it off, then get the air miles in return. Dont know if it actually works like that right enough.....

Just hate to think my money is just sitting here whem i could be doing something with it.

Surely cash back must give me something back? by the way, im just starting to use credit cards a bit so nowt sure how best to use my money!!

COngratualtions on the weddings and i hope they all go well. Cant believe how expensive they are!!!

Not a huge fan of airmiles personally. I've got 2000 of the *blighters* and have never been able to find anywhere to spend them. The Airmiles site offers deals of the month but never to anywhere I'd be interested in going or at times I'd want to go there.

Nearest I've got is using some of them to reduce the cost of the honeymoon hotel in Paris.

There's probably other ways to spend them but if you get cashback then you'll be better off I reckon.

nwlondon

Id use the airmails asap before the government bans them as it effects the "carbon footprint" and they wont be worth the paper (save the trees!) their printed on.

frang1

How about a ba american express card. Pointless if the places you are looking at dont take amex but if they do then its worth a look. 20k spend in 12 months on the free card get you a 2 for 1 flight on ba using ba miles for the 1 flight and you just pay the taxes. I think the Virgin card is an Amex (the airmiles one anyway) so take a look.