How to Use Credit Jewelers to Your Advantage

Jewelry is certainly a luxury, but thanks to credit jewelers, your dream chain, bracelet, or engagement ring for that special someone is closer than you think. There are tons of reasons to add this to your list of financial life hacks, but that power does come with responsibility.

The reason why credit jewelers are often overlooked is that people broadly don’t understand how to utilize these systems correctly. It takes some knowledge and discipline, but the results can be outstanding with just a bit of insight.

Let’s explain exactly how to use credit jewelers to your advantage, so that you get all the benefits with far fewer risks. 

Budget Now (and Later)

The key to any workable financing plan lies in budgeting basics stretched out over time. You don’t want to be the person who fools themselves into thinking that credit jewelers give out free money – that’s not how financing works.

Instead, you need to have a realistic view of what credit jewelers expect in terms of down payments for jewelry, the interest rates from lenders, and the monthly payments that will be your responsibility for the foreseeable future.

Knowing all this, be sure to budget now and in the future so that you never run the risk of falling behind.

Don’t Miss Out on Deals

Securing a great rate from credit jewelers is something to celebrate, but it’s not enough to get the best deal possible. You need to treat your jewelry purchase like any other major decision, and that means shopping around, tapping into promotions, and timing the market correctly.

For instance, buying new jewelry on the day of its release is typically unwise, since prices are at their highest. It’s smarter to wait until markdowns or seasonal sales, then stock up on the best jewelry of the season when costs are down. 

On top of that, great financing rates will only make things better.

Shop Around for Rates

On the subject of rates, you’ve got to keep an eye on these numbers when locking in deals with credit jewelers. Some rates are appealing on paper, but don’t make financial sense when you run the numbers and compare them with your budget.

On the flip side, a great rate doesn’t always mean you should jump on a purchase. Make sure it’s the right piece at the right place and time before you commit, even if rates are hard to resist.

Customize Your Payment Plan

The more control you have over your payment plan, the better. Trusted credit jewelers know this, and will do what they can to put the power in your hands. This means giving you options regarding down payments, monthly payments, and other key variables.

If you are hesitant about a payment plan or feel that you’ve been misled, don’t hesitate to back out of a deal. Only sign on the dotted line if you have full transparency into all the terms and know exactly what to expect.

Build Your Credit Score

Beleve it or not, credit jewelers give you the chance to build your credit score in a safe, predictable way. This is perfect if you’re just getting started in the credit game and aren’t ready to make the leap for a car or home.

The formula is simple: get approved for the loan, provide your down payment, then meet the monthly payment requirements for the duration of the loan. Stick to the game plan and you’ll see your credit score rise slowly but steadily over time.

Stick With Brands You Trust

Leaders in the jewelry industry know that brand loyalty is everything, and credit jewelers will reward you for sticking with one brand over time. This is how you take advantage of memberships and the perks that come with it, so don’t skip out on these opportunities when offered.

The more trust you build with a brand through financing, referrals, and reviews, the better you will be treated in return. This equates to better deals and rates down the line. 

Don’t Get Carried Away

The temptations of new jewelry can be hard to resist, and despite what ads might say, not everyone is in a position to stock up on thousands of dollars worth of chains or rings at one time – even with the help of financing.

That’s why we encourage buyers to use the power of credit jewelers to their advantage, rather than stumbling into financial difficulties that can otherwise be easily avoided. Financing is indeed a useful tool, but it must be wielded wisely in order to get the most benefits, both in the short term and the big picture.

Make the Most of Credit Jewelers Today

The jewelry financing process can seem confusing at first, so guides like this can shine light on best practices. Get started now and you’ll see that working with credit jewelers is a great choice when done right.