Best Credit Cards for Wedding Expenses in Singapore 2023

Congratulations on your upcoming wedding! But now that the excitement of the engagement has subsided, it’s time to make important decisions. The most important one is your wedding expenses and budget.

From booking your photographer to finding the perfect wedding gown and suit to choosing your wedding banquet, all these expenses can add up. In fact, the average wedding can easily cost between S$30,000 to S$50,000, if not more. Unless you’re rolling in cash, you could benefit from using a credit card. Couples can also consider getting a wedding loan so they do not have to worry about any financial limitation for their most memorable day in their life.

Credit cards make purchasing all your wedding needs convenient. For one, you can easily keep track of your expenses. Additionally, most credit cards come with attractive rewards and benefits. Some cards offer cashback on your spending while others offer miles you can exchange for an air ticket or rewards you can redeem.

Check out these top credit card picks to help you maximize your wedding budget.

Best Credit Cards for Wedding and Honeymoon Expenses in Singapore

1. American Express True Cashback Card: Best for Unlimited Cashback With Benefits

The American Express True Cashback Card is one of the best credit cards in Singapore for wedding expenses. With this cashback card, you can earn unlimited 1.5% cash rebates on all eligible purchases – no minimum spend required!

Best of all, you can also earn a welcome bonus of 4% cash rebates if you spend up to S$5,000 within the first 6 months. Want more? True Love Weddings are offering up to a 5% discount on new wedding packages at select wedding venues, exclusive to American Express True Cashback Card holders.

Consider this if

You prefer cash rebates on your wedding expenses and if your wedding packages and services fall under True Love Weddings’ participating wedding partners.

Card Details

• Rewards: 1.5% cashback on all purchases
• Welcome bonus: Receive S$80 CapitaVoucher with min. spending of S$250 within the first month of card approval
• Annual fee: S$171.20 (waived for the first year)
• APR: 26.90%

2. DBS Altitude Visa: Best for No-Fee Miles for Affordable Perks

The DBS Altitude Visa Card is the best no-fee miles credit card in Singapore. With this card, you will earn respectable miles rewards and excellent travel perks. For instance, you can enjoy complimentary travel accident insurance coverage of up to S$1 million as well as two Priority Pass lounge visits in a one-year card membership period.

Consider this if

You’re planning a destination wedding or if you’re traveling for your honeymoon. 

Card Details

• Rewards: 1.2 miles per S$1 local spend, 2 miles per S$1 overseas spend, 3 miles per S$1 online flight and hotel transactions
• Welcome bonus: Get S$300 cashback when you apply online for your first DBS/POSB Credit Card
• Annual fee: S$180 (waived for the first year)
• APR: 26.80%

3. Citi Prestige Credit Card: Best for Travel and Luxury Perks

The Citi Prestige Credit Card is one of the best credit cards for newlyweds who enjoy luxury travel perks. With this credit card, you can enjoy an unlimited complimentary night stay with a minimum consecutive four-night stay at any hotel or resort in the world. On top of that, new cardholders can enjoy a welcome bonus of 45,000 miles.

Consider this if

You want to avail special travel perks like complimentary night stay, and unlimited free lounge access.

Card Details

• Rewards: Complimentary night stay when you book a minimum consecutive 4-night stay at any hotel or resort
• Welcome bonus: 120,000 bonus Citi ThankYou Points (48,000 miles)
• Annual fee: S$535 (waived for the first year)
• APR: 26.90%

4. DBS Woman’s World Card: Best for Online Shopping for Fashion and Beauty

Shopping online for wedding items, such as your wedding gown? The DBS Woman’s World Card is perfect for online shoppers who want to chase ultimate rewards. You can earn up to 10x DBS Points or 20 miles on online purchases.

You can also earn 3x DBS Points for foreign currency transactions. Note that foreign transaction fees of 3.25% will be charged for overseas purchases.

Consider this if

You plan to purchase gowns, dresses, and other wedding items online.

Card Details

• Rewards: Up to 10x DBS Points (or 20 miles) on online purchases, 3x DBS Points (or 6 miles) on overseas purchases, 1x DBS Point (or 2 miles) on other purchases
• Welcome bonus: Get a sign-up bonus of S$300 cashback when you apply online
•  Annual fee: S$160.30 (waived for the first year)
• APR: 26.90%

5. POSB Everyday Card: Best for Earning Rebates on Household Essentials

If you want a credit card that will continue to provide value in the future, then the POSB Everyday Card is a great choice. With this cashback card, you can earn up to 10% cash rebates on eligible delivery services for food, online grocery purchases, transport, personal care, and more.

Plus, you can also earn up to a 5% cash rebate on recurring utilities and telecommunication bills.

Consider this if

You have a diversified budget and want to enjoy cash rebates on your household essentials as newlyweds.

Card Details

• Rewards: Up to 10% cash rebates on dining and online shopping at selected e-marketplaces, 5% cash rebates on your recurring utilities and telecom bills, and 0.3% cash rebates on other spending.
• Welcome bonus: Get S$150 cashback when you apply online
• Annual fee: S$192.60 (waived for the first year)
• APR: 26.80%

Considerations and Tips When Choosing a Card

With all the preparations involved in planning a wedding, it’s crucial to practice prudent spending. The right credit card will help pay for wedding expenses easily and conveniently. However, you need to be smart in using your credit card to maximize rewards.

Here are a few tips when choosing a credit card:

1. Additional Fees and Charges: Aside from the annual fee, there are other fees you may incur when using your card. For instance, you may be charged a fee for balance transfers or foreign transactions.
2. Long Intro 0% APR: If you want to buy now and pay later, you can consider getting a long intro 0% APR credit card. This means you have an extended time to pay off your major purchases, interest-free. if you already have an existing credit card and want to consolidate your debt, you can choose a card that comes with an intro balance transfer fee APR. With this option, you can transfer your existing outstanding balance to the new card.
3. Pay Off Your Credit Card Balance In Full: To avoid interest charges, you’ll have to pay off your balance in full. This is especially true for credit cards with a 0% introductory APR.
4. Cash Back or Statement Credit: When choosing a credit card that offers cash rebates, you must determine whether you’ll get the money back from every purchase. Some credit cards offer statement credit wherein the points you earn go towards paying off your credit card balance. With the latter, the cash rebates are only applied to your existing balance, reducing your credit card debt.
5. Provide Value In The Future: Will you be using the credit card even after the wedding? Choose a credit card that complements your spending habits and lifestyle even after the wedding. For instance, if you and your spouse love traveling then a miles card will be highly beneficial.

FAQs

1. Is It Safe To Pay for a Wedding With a Credit Card?

Generally, it’s safe to use a credit card to pay for your wedding expenses. However, keep the following in mind:

• Don’t spend more than you can afford to repay: Sometimes, it’s unavoidable to go beyond your budget. But charging more to your credit card than you can afford to repay will result in financial strains in the future.
• Fees: Credit cards that offer luxury perks or high earning rates may also charge higher annual fees. So weigh whether the perks are worth it for your special day. Calculate if you can afford a high annual fee.
• Interest rates: Compare interest rates between credit cards and other financing options. Funding a wedding with a credit card may lead to bigger debt due to interest charges.
• Credit limit: Your credit card must have a credit limit that is large enough to cover your wedding expenses. The credit limit may depend on your income and expenses.

2. Are There Credit Cards in Singapore That Offer Complimentary Travel Insurance Coverage?

Yes, there are. For instance, the DBS Altitude Visa offers complimentary travel accident insurance coverage of up to S$1 million. This is perfect for newlyweds planning to travel for their honeymoon.

Other credit cards, such as American Express Singapore Airlines KrisFlyer Credit Card, also offer free Travel Inconvenience and Travel Accident Benefits of up to S$350,000. This means cardholders can benefit from lost luggage insurance or are compensated for a missed flight connection.

3. What Is the Best Credit Card for Wedding Expenses?

The best credit card for you will depend on your personal preferences and wedding budget. While there isn’t a single best credit card for everyone, you can choose the right card for you. Consider different factors, such as:

• The type of rewards offered. Does the card offer miles, cash back, or rewards points?
• The miles earned per dollar spent.
• Is there a cap on the points you can earn?
• Is there a minimum spend requirement?
• Points expiry dates
• Is there a way to double cash card rewards?
• Perks, such as complimentary rental cars, free lounge access, travel insurance coverage, and more

You must also consider the rates and fees of individual credit cards and whether the extra luxury perks are attractive to you.

Closing

Using a credit card to pay for your wedding expenses will definitely help when preparing for your wedding. But first, consider which type of card is right for your wedding needs and budget. Credit cards that offer interest-free periods, rewards, discounts, and complimentary perks may help alleviate some financial burdens on your special day.

Key takeaways

• Don’t forget that a credit card is a form of short-term financing. Make sure you only charge an amount that you can repay.
• If you have a destination wedding or are planning to travel for your honeymoon, you may benefit more with a miles credit card.
• Cashback cards are perfect for newlyweds who want to maximize rewards from their wedding expenditures.
• If you want to buy now and pay later, you can consider getting a long intro 0% APR credit card. However, make sure to pay the balance in full before the 0% introductory rate is over to avoid interest charges.

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