credit card advice
Shopping for the right piece of jewelry — be it a diamond engagement ring or simple pearl necklace — can be daunting enough. Besides the high cost that may take years to save for, the quality measurements used by jewelers can seem arbitrary and overly complicated.
Adding to the complication is how to pay for the purchase. While your first inclination might be to write a big check or even hit the ATM for some big bills, those are actually the last options you should consider. Instead, by using the right credit card for your jewelry purchase, you will come out ahead in a number of ways:
- Pay no interest for up to 15 months (via 0% APR cards)
- Earn cash back on your purchase amount (via cash-back cards)
- Get free travel by earning air miles and points (via air miles cards)
- Build your credit rating when you pay off the purchase (via cards for fair credit)
I’m sure you read that list and thought, “Well that sounds great. How do I get started?” It’s actually quite simple: we’ve done the research and compiled below the cards that are best to use on jewelry purchases. Simply click on your card of choice to visit its official online application:
1. 0% APR Cards for Jewelry Purchases
If you don’t have the money on hand to pay for the purchase, a 0% intro APR card is the way to go. By charging your jewelry purchase to such a card, you won’t have to pay any interest on the purchase for up to 15 months, giving you plenty of time to pay off the purchase without accruing interest:
at HSBC'ssecure website
- 0% Introductory APR on credit card purchases and balance transfers for the first 18 months from Account opening. After that, a variable APR of 13.99%, 17.99% or 23.99%, will apply.
- No annual fee.
- No foreign transaction fees.
- Make purchases the way you want — mobile payment enabled supporting Android Pay™, Apple Pay™ and Samsung Pay™.
- Shop with confidence knowing that your purchases are covered with our valuable protection programs.
- Fraud coverage if your card is ever lost or stolen.
0% for 18 months
0% for 18 months
Variable APR of 13.99%, 17.99% or 23.99%
2. Cash Back Cards for Jewelry Purchases
If you plan on paying off your jewelry purchase right away, you’ll want to consider using a cash back card. Wouldn’t it be nice to get 1% — or even 5% — cash back on such a big purchase? Not to mention, a nice one-time cash bonus just for using the card? With all that extra cash, you might even be able to thrown in those eye-catching gold earrings you thought you couldn’t afford. Here is the best cash-back card to consider:
at Chase'ssecure website
- Unlimited 1.5% cash back on every purchase — it's automatic
- Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
- 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 15.99-24.74%. Balance transfer fee is 5% of the amount transferred, $5 minimum
- Redeem for cash — any amount, anytime
- Cash Back rewards do not expire as long as your account is open
- No annual fee
0% for 15 months
0% for 15 months
15.99% - 24.74% Variable
3. Air Miles Cards for Jewelry Purchases
What’s even better than a shiny new silver bracelet? How about a free trip to Hawaii? Or a few nights at the Ritz? Cards like the following are offering ridiculous air miles and travel points that you can use on any airline and at any hotel:
- Enjoy a one-time bonus of 40,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $400 in travel
- Earn unlimited 2X miles per dollar on every purchase, every day
- Fly any airline, stay at any hotel, anytime
- Travel when you want with no blackout dates
- Miles won't expire for the life of the account and there's no limit to how many you can earn
- No foreign transaction fees
13.99% - 23.99% (Variable)
$0 intro for first year; $59 after that
4. “Fair Credit” or “No Credit” Cards
OK, so you may have noticed that the aforementioned cards all require a good-to-excellent credit rating for approval. What if you have a so-so credit rating — are there options for you? Sure there are. This card in particular not only approves those with imperfect credit, but also features a sweet 0% APR deal and significant cash back on your purchase:
- Earn unlimited 1.5% cash back on every purchase, every day
- Use your QuicksilverOne card and get 50% back as a statement credit on your monthly Spotify Premium subscription, now through April 2018
- No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
- Get access to a higher credit line after making your first 5 monthly payments on time
- Fraud coverage if your card is ever lost or stolen
- Use online banking to access your account, even from your smartphone, with our mobile app
Average, Fair, Limited
Why Avoid Jewelry Store Charge Cards?
Your sales rep at Kay or Zales will undoubtedly try to convince you to sign up for a store card to finance your purchase. After all, it’s his job to get you to sign up for it, and he likely makes a nice bonus if you give him all your personal details to apply.
If you’re considering this option, there are five things you’ll want to ask him first. In fact, we’ll save you the trouble and answer these questions before you even have to ask them:
- “Will I go 15 months without paying interest?” (Probably not)
- “Will you give me a 1-5% cash bonus on this?” (No)
- “Will I get a free trip to Hawaii out of this?” (No)
- “Can I get approved with bad credit?” (No)
- “Can I use this card anywhere else beside this particular store?” (No)
Of course, these answers can all be “yes” if you use a traditional credit card to make your purchase like the ones mentioned above. Not only will traditional credit cards get you big bonuses for your jewelry purchases, but they can get you rewarded for all your other purchases as well.