Can I buy an engagement ring with credit card?

Using a credit card can be a good way to pay for an engagement ring – it’s convenient and, with the right card, you can rack up some rewards points while financing it for free. Some credit cards provide protections such as dispute recourse if you have a problem with your purchase.

Can you buy an engagement ring on a payment plan?

Financing an engagement ring allows you to purchase a ring that costs more than the cash you have on hand. When you finance, you agree to a payment plan or contract with the loaning entity. Promotional periods, interest rates and monthly payments are agreed upon upfront.

What should you pay for an engagement ring?

General Rule: You should spend at least 2 months salary on the engagement ring. If, for example, you are making $60,000 per year, you should spend $10,000 on the engagement ring.

Do you have to pay off an engagement ring before you get it?

When financing an engagement ring, taking out a personal loan should be your last resort. Ideally, you’ll want to secure a 0% financing deal with the jewelry store or put the ring on a low or 0% APR credit card. With those methods, you should pay the ring off before the promotional period expires.

Is it normal to finance an engagement ring?

The average couple spends $5,900 on an engagement ring, according to The Knot’s 2019 Jewelry and Engagement Study. While paying cash for major expenses is usually preferable, it’s not always possible. And if you’re thinking about financing an engagement ring, you probably want to know you’re getting a good deal.

Do jewelry stores accept credit cards?

Use a credit card Like most major retailers, jewelry stores may have a store credit card that you can apply for. Signing up for a store card might qualify you for a special interest period or an additional discount at checkout, but be sure to look out for deferred interest.

Do couples go engagement ring shopping together?

Definitely. In fact, 62 percent of couples now go engagement ring shopping together. If you don’t feel comfortable doing so, be sure to communicate those feelings to your S.O. Simply tell them that you don’t want to do a joint shopping trip because you think it’s more romantic to be surprised.

Is it bad to finance a wedding ring?

I would highly recommend that you avoid financing an engagement ring with any jeweler that doesn’t offer some kind of special financing or intro rate. You also definitely don’t want to sign up for just any credit card because it’s offered to you. This is where you can get into trouble with super high-interest rates.

Do couples split the cost of an engagement ring?

But when it comes to splitting the cost of your engagement ring is the choice just as obvious? The resounding answer is yes. Currently trending among the newly engaged is the decision to split the cost of the engagement ring between both spouses-to-be.

What credit score does Zales require?

Zales Credit Card is a great Credit Card if you have fair credit (or above). Their APR is quite high (above 20%). If you’re looking to apply, we recommend at least a 630 credit score.