Summer is coming, and that means so is concert and festival season. With so many great musicians to choose from, how can you be sure to see them all? One thing that may help is your credit card.
On top of credit card rewards, many card issuers offer additional perks and benefits that may make it easier to see your favorite bands week after week. Does that sound like music to your ears? Let’s dive in.
Tips for purchasing tickets
Securing tickets for a concert or music festival can be nerve-wracking when you’re competing against thousands of other people for a spot. Here are some tips for using your credit card as an advantage.
Review your rewards rates
Many credit cards offer different reward rates depending on the purchase–for example, you may earn more rewards for travel or dining out compared to using your card at the supermarket. Review your credit card rewards to see if purchasing a concert ticket or your travel accommodations with your card will earn you higher rewards.
Presales and concierge services
When purchasing tickets, you may consider using a credit card that offers access to presales. Other credit card providers may offer concierge services that help you secure tickets as soon as they go on sale.
Presale and concierge services give you the best chance of securing the tickets you want ahead of the crowd.
Direct ticket redemption
You may also want to check your credit card rewards portal. Some cards offer direct ticket redemption for certain festivals and concerts. In this case, you can use the rewards you’ve accumulated over time to get a show ticket.
Welcome bonuses
Additionally, you can take advantage of welcome and sign-up offers if you open a new credit card before festival season.
Purchasing an expensive festival ticket may help you reach the spending threshold more quickly to help you qualify for a sign-up bonus. The bonus may then offset some of the ticket cost, making it a win-win.
Purchase protection
It’s important to note that many credit cards offer purchase protection in case the event is canceled or you notice fraudulent charges after purchasing a ticket.
Tips to use your card at the festival
Using your card to purchase tickets or travel to a concert or festival is just the first step. There are still plenty of advantages to using your card while in attendance.
Earn more on food and beverages
Dining and restaurants are often popular spending categories to earn higher rates of rewards when you use your credit card. If your card has a higher rewards rate for these categories, each time you tap or swipe at a concert or festival, you may earn more rewards that you can redeem for your next music endeavor.
Expedited entry
Some cards offer expedited entry or access to exclusive lounges at music festivals. Be sure to check with your credit card issuer if they offer this perk. Knowing this allows you to plan your time at the festival accordingly.
Avoid ATMs
If you need to get cash from an ATM at a music festival, it may be best to avoid using your credit card. Using a credit card at an ATM is called a cash advance, which typically comes with a fee and interest begins accruing immediately. You may also be charged an ATM fee on top of all this (some card issuers may waive or reimburse it).
Simply put: Plan ahead and only use your credit card at an ATM as a last resort.
Tips for financial discipline on festival spending
It can be easy to get excited and forget about your financial responsibilities when there are so many great events happening. Here are some tips for using your credit card wisely for music festivals and concerts.
Don’t overspend
Overspending may be easy to do when having fun. But having fun at the expense of financial health can lead to serious headaches later. When planning for a concert or music festival, it may help to set an overall budget and break it down into categories such as tickets, food and drinks, merch, etc.
Sticking to this budget may help ensure you don’t rack up more debt than you can manage to pay off quickly.
Pay off your balance in full
When possible, pay off your credit card balance in full at the end of each billing cycle. Paying off your balance may help you avoid high interest charges, maintain a low credit utilization ratio, and prevent compounding debt.
Paying your full balance may also help boost your credit score, which can be essential for securing future housing or vehicle financing.
If you can’t pay off your balance in full, have a payment plan in place to pay off your festival expenses as soon as possible.
Enjoy festival season with these tips
Now you know some of the best tips for using your credit card during concert and festival season. Credit cards can be key for securing tickets to these events and earning rewards, and can even offer additional benefits to concertgoers.
Just remember to maintain financial discipline and don’t overextend yourself by spending more than you can manage. These tips may help you make the most of your time and wallet this summer.
Notice: Information provided in this article is for information purposes only and does not necessarily reflect the views of azbigmedia.com or its employees. Please be sure to consult your financial advisor about your financial circumstances and options. This site may receive compensation from advertisers for links to third-party websites.
