We all have a piece of jewelry that we’ve longed for forever. Maybe it’s the perfect pair of diamond earrings. Or, it could be a simple, yet chic 14 karat gold chain that would pair perfectly with everything you own. Or, perhaps it’s the ideal engagement ring to propose to your spouse with that you’re sure they’ll say “yes” to.
While you dream about your desired piece of jewelry, your bank account begs to differ. You just don’t have the funds right now to afford the kind of high-quality, fine jewelry that you want.
Sometimes, it feels like you might not ever be able to afford it. Well, you’re in luck! Credit jewelers are a type of jewelry seller that allows you to pay for your jewelry by financing it via a credit card or payment plan.
By buying jewelry from a credit jeweler, you can enjoy the accessories that you adore now. However, you can finish paying for them later. Sounds too good to be true? Read on to find out how credit jewelers can make your dream jewelry purchase a reality.
What is a Credit Jeweler?
Credit jewelers sell jewelry in a variety of styles, just like other jewelry stores. However, credit jewelers put their customers first. They do this by offering flexible payment plans that you can utilize to pay for a jewelry piece that you might not have the funds upfront for.
As such, it’s a great idea to consider purchasing jewelry from a credit jeweler. This is especially true if you’re someone who’s currently on a tight budget. You might also consider credit jewelers if you’re looking to build your existing credit. Paying off a jewelry purchase in multiple installments on time will show the credit bureaus that you’re a reliable lender.
How Do Credit Jewelers Work?
When financing a jewelry purchase with a credit jeweler, they’ll likely have you sign up to apply for a credit card that’s specifically linked to their store, or another form of monthly payment plan. Before the credit jeweler can issue you the card, they’ll have to run a credit check. They do this to make sure that you’ve got an established good history of paying back lenders on time. Once approved, the credit jeweler will issue you a credit card. From here you’ll be given a set amount of credit that you can use for jewelry purchases at their store.
Once you purchase the jewelry piece that you want with your credit jeweler’s credit card, you’ll have to pay off the balance on the card. The most popular method is doing so through monthly installment payments.
Just like a regular credit card you’d get from the bank, credit jeweler’s credit cards have set minimum payments. You will need to make these payments in order to avoid paying interest on the balance that you owe. In addition to this, credit jewelers will set a timeframe within which you must pay the balance on your credit card. Usually payment periods are between 12, 24, 36, or 60 months in length.
Rest assured, you’ll have plenty of time to pay off the balance on your card. This way you can enjoy your jewelry purchase in the present.
Other things to consider when financing your jewelry purchase with credit jewelers include:
- The Possibility of a Down Payment: In some cases, a credit jeweler will require you to pay a down payment, which is a small portion of the total cost of the jewelry piece that you’re buying. Once paid, your monthly payments to the credit jewler will be determined by the remaining balance left on your credit tab.
- Promotional Offers Affecting Your Balance: If you bought your jewelry piece from a credit jeweler when they were running some sort of promotion, your credit payments may be different than the market cost of the item.
- In-Store Activation: When signing up for a line of credit with a credit jeweler, you’ll likely have to go into one of their brick-and-mortar store locations in order to activate the credit card. Other forms of monthly payment plans may allow you to solely sign-up online, though availability for these types of plans can vary depending upon what state that you’re in.
Finance Your Jewelry Purchase with a Credit Jeweler
Don’t waste time longing after the jewelry purchase of your dreams and make it a reality by financing with a credit jeweler. Credit jewelers help customers achieve their goals of owning fine jewelry by offering convenient financing plans.
By applying for a line of credit with a jeweler, you can enjoy your jewelry purchases now, and pay them off within a time frame that works well for you.
Everyone deserves quality jewelry, so why not finance your next jewelry purchase with a credit jeweler today? What kind of jewelry would you finance with a credit jeweler?