Paying for Your Honeymoon on Plastic: The Do’s and Don’ts

You may be excited to go on your much awaited honeymoon. Are you planning to make it cashless by using credit cards instead of cash in making purchases? You may want to know some tips that can spare you from another credit card debt disaster after the honeymoon is over.

Do’s When Using Credit Cards on Your Honeymoon

  • Set a Budget
    Credit cards come with lots of conveniences. However, if its use is abused, you can end up in a financial downfall. If you are spending cash, you can benefit from setting a budget and sticking to it. But if you have decided to use your plastic, you should still set a reasonable budget and try your best to avoid impulsive and unnecessary purchases.
  • Lower the Credit Limit
    Lower the credit limit of your cards before going on a honeymoon. This action would prevent you from overspending when using your credit cards. You can register your mobile phone number along with your credit card account to make sure that whenever you swipe your card, you will get an alert informing you about the amount spent and your remaining balance.
  • Ensure your credit cards’ safety
    You may already know that it is not safe to let anyone get hold of any of your plastic cards. The CVV number located behind each card is very important when making online transactions. Other people may make online purchases using your credit card account if they know your card’s CVV.
  • Pay It Off In Full
    Intend to settle the total purchase amount in full when you get back from your honeymoon. This is an effective way to prevent incurring greater charges on your card. If possible, don’t wait until you receive your credit card bill. You know how much you purchased using your plastic card during the honeymoon.

 

Don’ts When Using Credit Cards on Your Honeymoon

  • Don’t increase the credit limit of your cards.
    Each of those comes with a credit limit that was based on your personal income. Before your honeymoon, don’t give in to the temptation to increase the limit of your plastic cards. Bank representatives may call you to ask if you want to raise your limit. Resist that urge.
  • Don’t Allow too many rollovers.
    There is the temptation to shoulder only the minimum amount required each month. If possible, don’t rollover any credit card balance to the following bill. Rolled over amounts can be charged with higher interest rates on a monthly basis.
  • Don’t make cash advance transactions.
    On a honeymoon, you may suddenly fall short of cash. Bring extra money before going so you can avoid the need to withdraw cash using your credit card in any ATM. Cash advance transactions usually come with higher interest rates, more expensive than the regular rates on credit card purchases. Moreover, interest charges will promptly accumulate until the full amount is repaid. There can also be a one-time transaction charge, which may be equivalent to as high as 3% of the total cash advance.

To avoid the temptation, you may want to leave your plastic cards behind as you pack and go to your honeymoon destination. With all the risks coming with the use of credit cards, will you still want to charge to your credit cards your purchases on your honeymoon?

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