Buying concert tickets can be an expensive endeavor, with some of the biggest acts charging hundreds of dollars per ticket. Using a credit card to purchase tickets can seem like a convenient option, allowing you to secure seats now and pay later. However, there are some potential drawbacks to consider when charging concert tickets on credit.
The Pros of Using a Credit Card for Concert Tickets
Here are some of the potential benefits of charging concert tickets on a credit card:
- Allows you to buy now, pay later – One of the biggest advantages of using a credit card for concert tickets is that it allows you to secure seats now even if you don’t have the cash on hand. As long as you have sufficient credit available, you can purchase tickets and pay your credit card bill later.
- Can help manage cash flow – For expensive concert tickets, charging the purchase to a credit card can help manage cash flow rather than tying up a large amount of money right away.
- Offers fraud protection – If you use a credit card from a major provider, you typically get access to fraud protection that can help get your money back if the tickets end up being fake or fraudulent.
- Can earn rewards – Many credit cards today offer robust rewards programs with sign-up bonuses, cash back, points/miles, etc. Charging concert tickets could help you earn additional rewards you can redeem later.
Using the right credit card responsibly makes buying concert tickets much more convenient. You don’t have to worry about tying up too much cash or missing out on tickets you want.
The Cons of Using a Credit Card for Concert Tickets
However, there are also some potential downsides to keep in mind when charging concert tickets on credit:
- Interest charges – If you don’t pay your credit card balance in full, interest charges can quickly make those concert tickets much more expensive.
- Credit limit – Your credit limit could potentially be maxed out on an expensive concert ticket purchase, limiting your flexibility with that card until you pay down the balance.
- Credit score impact – High credit card balances can negatively impact your credit score, especially if you miss payments or max out cards.
- Overspending risk – The ease of charging purchases could lead to buying more expensive tickets than you can really afford.
Charging a large concert ticket purchase without a plan to pay it off quickly could lead to growing credit card debt, damage to your credit score, and excessive interest charges.
Tips for Using a Credit Card for Concert Tickets
If you do plan to charge concert tickets to a credit card, here are some tips to do it responsibly:
- Shop around for the best tickets within your budget – Don’t overspend just because you’re using credit.
- Consider using a rewards card – Maximize the rewards you earn on the purchase.
- Pay the balance quickly – Pay off the credit card balance within the same billing cycle if possible to avoid interest.
- Use a card with a 0% intro APR – Minimize interest charges by using a card offering a 0% introductory APR.
- Check your credit limit first – Make sure you have enough available credit for the ticket purchase.
As long as you have a plan to pay off the balance quickly, using a credit card can be a convenient way to secure concert tickets now and manage costs over time. But it’s important to be cautious and avoid overspending or carrying balances long term.
The Pros and Cons of Credit Cards vs Debit Cards/Cash
Here’s a quick comparison of the pros and cons of using credit cards versus debit cards or cash for buying concert tickets:
Credit Card Pros
- Buy now, pay later flexibility
- Potential purchase protections
- Can earn rewards
Credit Card Cons
- Interest charges if not paid quickly
- Potential overspending risk
- Can damage credit if mismanaged
Debit Card/Cash Pros
- Avoid interest charges
- Better spending control
- Simple, no debt incurred
Debit Card/Cash Cons
- Must have full funds upfront
- No flexibility if short on cash
- Limited purchase protections
There are good cases to be made for both options. Using credit responsibly typically provides more convenience and flexibility, while debit/cash prevents overspending but requires you to have the full amount ready upfront.
Factors to Consider When Deciding
Here are some key factors to consider when deciding whether to use a credit card or not for concert ticket purchases:
- Ticket cost – The more expensive the tickets, the stronger the case for credit flexibility.
- Your budget – Can you afford to pay off the tickets in full when the bill is due?
- Current card balances – Is charging the tickets going to max out your credit limit?
- Interest rates – Do you have a card with a 0% intro APR to minimize interest?
- Timing of the concert – When do you need to pay off the card to avoid interest?
- Your willpower – How likely are you to overspend if using credit?
Take the time to consider these factors and your own financial situation when deciding on the best payment method for concert tickets.
Tips for Saving on Concert Tickets
Whether you use credit or not, here are some tips to save on the cost of concert tickets:
- Buy early – Prices usually go up as the event approaches.
- Join fan clubs – You can sometimes get presale ticket access.
- Use ticket presales – Sign up ahead of time for special presales.
- Consider seat location – You’ll pay more for front row or floor seats.
- Check resale sites – But watch for scams on secondary markets.
- Buy single tickets – You may get better value than bundled packages.
- Avoid convenience fees – Buy directly from the venue if possible.
- Consider show times – Weeknight or daytime shows are sometimes cheaper.
With some smart shopping, you can often find ways to pay less regardless of whether you use cash, debit, or credit for your purchase.
Alternatives to Credit Cards
Aside from debit cards and cash, here are a few other payment alternatives to consider for concert tickets:
- Prepaid cards – Load funds in advance onto a prepaid debit card just for the ticket purchase.
- Venue payment plans – Some venues allow you to make a deposit now and pay the rest in installments.
- Layaway programs – A few ticket sellers offer formal layaway programs for concert tickets.
- Gift cards – If you receive gift cards for your birthday, rewards programs, etc. consider using them.
- Ticket insurance – Companies like Allianz allow you to finance and insure ticket purchases.
Depending on the concert, there may be other creative ways to purchase tickets that let you secure seats now while paying over time.
The Bottom Line
Here are some final tips on using credit cards for concert tickets:
- Shop for the best ticket deals within your budget
- Have a plan to pay the balance quickly to avoid interest
- Consider rewards cards and 0% intro APRs
- Only charge what you can afford to pay off in full
- Watch for fees and read terms carefully
With some discipline and smart planning, paying with plastic for concert tickets can offer convenience and flexibility. But it’s critical to avoid overspending and carrying balances that can quickly lead to growing credit card debt. Consider both the pros and cons carefully before deciding on your best option for funding concert ticket purchases.