There are few things in this world that are both exciting and rewarding then buying a beautiful piece of jewelry. But something that really can rain down on one’s parade when doing so is not having the right credit card to support the purchase. That’s why having the best jewelry credit card is so important.
A good jewelry credit card lowers your interest rates, helps you earn cashback, offers bonuses incentives, and many more positives. Nice jewelry isn’t cheap and that’s why having a card like a retail furniture card is the best way to purchase jewelry.
|Kay Credit Card
|Helzberg Credit Card
|Reeds Credit Card
|AMEX Cash Magnet Card
|Chase Freedom Unlimited Card
Often jewelry credit cards and general credit cards that fair well for purchasing jewelry are mysterious. But not anymore. We are breaking down what you need to know about credit cards that work well when purchasing jewelry. We also will break down the best options offered on the market right now.
Let’s get started.
What Qualities Should We Look For When Choosing the Best Jewelry Credit Card?
Jewelry is expensive. That is especially true when we are talking about engagement rings and other fine pieces for specific occasions. Just like you would want to finance furniture for your home, you want to consider good financing options for jewelry.
No credit card will contain check all of the boxes as some will offer better incentives than others. However, depending on your situation you definitely want to make sure you tick a few of those key qualities.
Here are some important things to consider when looking at what a jewelry credit card has to offer.
Are you a consistent jewelry shopper dedicated to one store? Great! First, check to see if that specific store has its own credit card. They are likely to offer the best incentives for you to sign up with them such as discounts, best points program, insurance, and more.
Anyone that offers their own store card will likely beat out competitors when it comes to what they have to offer for their own specific jewelry. This type of card does not make as much sense for those who are not loyal customers or not buying jewelry so often.
While the store itself is likely to offer you insurance and wrap it into your financing, if a credit card itself does that then you are in good shape. Coverage for damage and theft/lost property on your piece of jewelry is a great feature on a credit card that should be ranked high on the priority list.
Any jewelry credit card that has high-interest rates or APR is going to be a bad fit. Because you will want to likely pay this piece of jewelry off over time, the longer you take the more interest you will pay. This can add up very quickly if your interest charges are high.
Along with insurance incentives, low-interest rates should be one of the top priorities when searching for the right jewelry credit card. Why pay more for something that will already cost a pretty penny?
The best jewelry credit cards or credit cards, in general, will have the best cashback offers. This is essentially like getting a discount for jewelry every time. Some customers may prefer these over points programs as the cash can be used to pay down the bill rather than get points to keep spending.
Jewelry Store Credit Cards
Whether you are using a store-specific jewelry credit card or searching for a general credit card that bodes well for purchasing jewelry, you want to tick off some of the boxes mentioned above. That’s why we have comprised a list of the best cards on the market and what makes them work well. We also go into what drawbacks they might have.
That’s important for comparing your options and getting the full story behind these jewelry credit cards. No one wants hidden fees and surprises after the damage has already been done.
The Best Jewelry Credit Card on the Market Now
Let’s section this off into jewelry store credit cards and general credit cards.
These are your specific cards dedicated to the stores you shop from. This is going to fall under the loyalty programs that we first mentioned. Let’s see what the major retailers have to offer and what makes their jewelry credit card different than the rest.
Something we need to keep an eye out for is called deferred interest. This is a financing trap that many think is a benefit where in reality can end up being a not-so-nice present for the purchaser. Deferred interest means that if the full balance is not paid off in the agreed amount of time, interest kicks in from the original purchase date.
Kay Credit Card – Kay Jewelers
Kay Jewelers has been around since 1916 when they were originally founded in Pennsylvania. There is a reason that they hated over a decade in selling jewelry. With the Kay Credit Card, there are a number of incentives offered despite not having a loyalty point program.
Credit Required: 690+
IT’s always important to consider some of the customer’s thoughts. The Kay Credit card gets rated 3.5 out of 5 stars. Many reported to introductory rates served them well and were a great card for purchasing jewelry.
The drawback reviews included dealing with the banker rather than Kay. They complained that customer service for Comenity Bank (the banker of Kay’s Credit Cards) was poor and often results in fees here and there.
Helzberg Diamond Credit Card
With some rewards on the way, Helzberg Diamond Credit Card gets has some incentives to offer you. Some customers say they aren’t out of this world compared to other credit cards. Other customers think for the quality product this jewelry credit card is worth the try.
Credit Required: 690+
This credit card also scores 3.5/5 stars from confirmed clients. The positives were that many customers took advantage of all their loyalty program incentives. The cons were again towards Comenity Bank and their poor customer service.
Reeds Jewelers Credit Card
Reeds is a fan favorite which is why we have saved it for last in terms of the jewelry credit cards you can get specifically from stores. With the highest customer satisfaction on the market right now, Reeds Credit Card has the best loyalty program incentives. This makes being a loyal customer of their stores worth it.
Credit Required: 700+
This jewelry credit card also scores 3.5/5 stars from confirmed clients. The positives were that many customers took advantage of all their loyalty program incentives. The cons were again towards Comenity Bank and their poor customer service.
If you have low credit and fear being denied from these credit cards check out our guide on these top websites that offer “buy now, pay later no credit checks.”
Non-Jewelry Specified Cards
These are just a few credit cards that are not linked to specific jewelers which means you will likely not receive loyalty benefits to said store. However, these cards may offer better interest rates among other benefits that you may not get with a jewelry store credit card.
Let’s have a look.
American Express Cash Magnet Card
The Amex Cash Magnet Card is an excellent option for those looking to make more expensive jewelry purchases because it offers a great APR intro rate and fantastic cashback. With a 0% intro APR rate for the first 15-months upon opening your card, you catch a major break on paying interest.
Credit Required: 700+
Many customers loved this credit card with an overall rating of 3.5/5 stars. The positives included that they had efficient payment plans that kept their customers on track with great rewards.
Some of the drawbacks are noted that good credit isn’t the only inspection. American Express may look at a number of other things to determine whether you are eligible or not.
Chase Freedom Unlimited
Coming in a close second is the Chase Freedom Unlimited card. It offers some of the best cashback options on the market which is why it is an excellent option for a jewelry credit card to purchase jewelry.
Credit Required: 700+
While we aren’t trying to save the best for last this credit card actually gets 5/5 stars on customer reviews and all have great things to say about it. That’s because the cashback and incentives are great for purchasing jewelry or anything else for that matter.
The only drawback any customer reported wasn’t in fact customers. It was that the card was too hard to apply for because of its demand for high credit scores.
If you want to see more information about easy-to-get credit cards, please check out the best virtual credit cards.
Making the Big Purchase
Spending a significant amount of money on jewelry is both exciting and a little worrisome. That’s why having a trusted and great-performance jewelry credit card is important to have in your wallet. Knowing which cards make the most sense for you will require a breakdown of what purchases you plan to make and from who.
If you find yourself a loyal member of a specific jewelry store then it may be worth talking to a store specialist about the benefits that are included with their credit cards. Typically, their APR rates are going to be higher than a non-jewelry store credit card but those percentages may only apply if you don’t pay your bill on time.
If you are only looking to make a few special purchases here and there then one of the two credit cards listed above is an excellent choice. They offer you to get cashback and allows you to benefit from the card outside of jewelry store purchases.
Whatever you decide make sure to go through all the special offers, rates, and minor details so no hidden fees or surprises arise.