How long have you been saving to buy that lovely bracelet you saw at the jewelry store? How long have you been raising money to buy that engagement ring? What if we tell you that with BNPL plans and payment programs, you can purchase them and pay for them in installments?
Many jewelers have these payment programs where the user can accommodate the payments in installments that fit the pocket.
Here are some famous jewelry stores and their payment plans so that you can think of your economy first the next time you go to the jeweler.
Reeds
Founded in North Carolina in 1946, it is a jeweler with more than 60 retailers all over the United States. Here you’ll find various gemstones and fine jewelry of the highest quality, along with watches and accessories from brands such as Pandora and Swarovski.
Reeds offer financing plans in addition to its credit card that depends on the amount you expect to spend. Each one is tailored to your financial situation and budget. They also have a partnership with Affirm for financing purchases.
Proprietary plans
Among its financing plans is the fact that these and their duration depend on the amount you are going to spend.
With the purchase of at least $299, you will have a 6-month interest-free payment plan if you meet the payment dates. The same happens with purchases up to $1,000, extending the payment time to 12 months.
Likewise, for purchases over $2,000, a 60-month plan will have a 9.99% rate from the day of purchase.
Affirm
Affirm’s credit plans will require approval by the company, but these are characterized by no interest as long as you pay on time. These payment packages are simple and adaptable to your financial situation, what you can afford, and when you can afford it.
Pandora
The jeweler that dominates the market of the Charms and bracelets they offer also puts earrings, necklaces, and rings of high-quality precious metals at your disposal. Putting in your hands the combination of styles, themes, and beautiful materials you can mix and match to your liking.
Many users do not know that Pandora offers payment packages to purchase all its products. These packages are in partnership with After Pay, a lending company known for its convenient budget financing plans.
Likewise, they also offer a credit card that allows you to purchase their products. Although for this, you must go through a pre-qualification process and wait for it to be granted.
Pandora and After Pay
When shopping on Pandora’s website, you will find After Pay as a payment method. To choose this method of financing, you only have to be approved to create an account with After Pay, a process that only takes a few minutes after filling out the form.
After Pay purchases are divided into four installments with no additional fees, these are due two weeks after receiving your jewelry. Although in any case, you will have to pay an initial payment equivalent to 20% of the purchase made.
Once your order is placed on the Pandora website, each payment will be made directly with AfterPay. It is therefore recommended to download the application of the credit company to organize and make payments.
Shane Co
The largest jewelry store in the United States, characterized by its engagement rings and wedding packages. This is, without competition, the largest-selling and highest-positioned privately owned jewelry store in the United States.
So people would not think they have financing plans to purchase their products through BNPL. They are wrong; Shane Co offers different financing plans for acquiring products without economic problems.
Although a point to consider is that to access these plans, you have to pre-qualify. You can carry out a process from their website to check if you are eligible in minutes and without affecting your credit history.
18-month financing
Financing at Shane Co consists of acquiring one of their credit cards that offers payment packages over 18 months. This is in installments that vary depending on how much you spend as with a regular card.
As long as the payments are completed within 18 months of the promotion (which begins to elapse from the time you make your purchase), you will not be charged any fees. If your payments exceed 18 months, you will be charged a 9% APR fee.
Choose the ideal jewelry store
Here are three of the best jewelry stores in the U.S. with their payment plans, pros, and cons. So the final decision will be up to you and what you are looking for in terms of the price range, quality, and payment organization.
Likewise, many other jewelry stores collaborate with credit companies such as Affirm and AfterPay. It’s never a bad idea to check the websites of these companies for their partnerships with different jewelry stores across the country.
Jewelry where you can make payments on
Once you’ve chosen your favorite jewelry store, you’ll choose the jewelry to buy.
As you know, in a jewelry store, there are many expensive and not-so-expensive options to wear and show off, but the best options will be pieces like rings, earrings, bracelets, or necklaces with original rhinestones.
Be careful! With the Buy Now Pay later method, you usually buy expensive items to have more freedom of payment, and that’s what you should do.
Don’t forget to keep your finances up to date after the purchase because if you decide not to pay the debt, you will have serious legal problems.
References
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“The Shane Co. Credit Card | Financing Options | Easy Online Payments.” Shane Co. | Diamond Jewelers – Engagement Rings & Fine Jewelry, https://www.shaneco.com/customer-service/financing-options.
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“After Pay.” Pandora, https://us.pandora.net/en/after-pay/.