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By: AgFed Credit Union

Welcome to AgFed Credit Union's MoneyDig blog! 

Get confident about your personal finances with a number of articles, tips, advice and more.


Paying for Your Wedding: Personal Loans vs Credit Cards

 Jul 23, 2021
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Paying for a wedding is no small order. There are many details involved — and the entire process can be quite expensive. Many couples rely heavily on credit cards or a personal loan to get them through their weddings. But there is one choice that is almost always the better option. Here’s what you need to know about using credit cards compared to a personal loan to pay for your wedding.

Personal Loan Pros and Cons

Personal loans tend to be the better choice as a means to pay for your wedding. Most often, their interest rates are significantly lower than that of credit cards. But that’s not the only benefit to consider.

When you open a personal loan, you are given a set amount to borrow. This aspect alone helps many couples stay within their wedding budget. But personal loans also have a set payoff date and predetermined monthly payments, which helps to avoid long-term debt from the wedding.

Here are a few pros and cons to keep in mind when using personal loans to pay for your wedding.


  • More attractive interest rates.
  • Definitive wedding budget to work within.
  • Set monthly payments to pay off debt quicker.
  • Established payoff date to avoid long-term debt.


  • It forces you to stick to your budget, which may mean you must make some painful choices.
  • You may not have as large of a dollar amount to use compared to credit cards.

The definitive budget that a personal loan provides for planning your wedding can be both a pro and a con. Financially speaking, though, it is a huge benefit that helps prevent you from getting caught up in the process and going overboard with your wedding plans – leading to debt that could follow you for years to come.


Credit Card Pros and Cons

There are a few problems that are inherent with credit cards. Whether you’re using them to plan your wedding, fund your honeymoon, or help you with your everyday shopping needs, it’s easy to get in over your head.

The flexibility and convenience of credit cards make them a go-to choice for many wedding planners. However, you want to make sure you do not spend your first few years as a married couple under the shadow of significant credit card debt.

Here are a few of the pros and cons of using credit cards to pay for your wedding.


  • Gives you more wiggle room with your budget to help you get the things you really want for your wedding.
  • Offers more flexible terms for repayment over time.


  • Requires greater discipline to stay on track and not go over your planned budget when using credit cards.
  • It’s easier to lose track of how much you’re spending on your wedding.
  • You must commit to a steadfast plan to pay off your debt as soon as possible to avoid paying excessive interest charges.
  • Higher interest rates than personal loans.
  • No definitive pay-off date.

As you can see, there are some pretty substantial considerations to keep in mind when it comes to using credit cards to pay for your wedding. It’s important to carefully compare these to the benefits of a personal loan before making your decision. 


We’re Here to Help!

There are few moments in life more exciting than your wedding day. As your credit union, we want you to have the wedding of your dreams. To that end, we offer a wide range of products to help, including personal loans, savings accounts, automatic transfers to savings, and credit cards.

Please give us a call at 202-479-2270 or email us at today to get the assistance you need to create the fairy tale wedding of your dreams.

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