Tag Archives: diamond ring

How to finance an engagement ring

About 2 million Americans get married each year, according to the National Center for Health Statistics — and Valentine’s Day alone spurs an estimated 6 million couples to take their relationships to the next level. Regardless of when you plan on getting down on one knee, you’ve no doubt seen the diamond ring promotions aimed like Cupid’s arrow at your highly emotional state of mind. “Hey buddy, this platinum solitaire here will only set you back six months’ pay and we’re currently offering 0 percent financing for a year! Here’s where you sign ..”

Not so fast, Romeo. If you want her to marry you for richer and not poorer, you’ll study the fine print first to make sure that bauble on her finger doesn’t turn into a ball and chain on your newlywed finances. Couples say spending an average of $2,311 on an engagement ring is an appropriate amount, with some aiming as high as nearly $5,000 and others less than $1,000, American Express reports.

Before you buy an engagement ring, let’s take a closer look at jewelry store credit terms, return policies and some creative alternatives for cash-poor romantics.finance an engagement ring
Few favorable terms from jewelers
Chances are, you’ll shop locally for an engagement or wedding ring, but if shopping from the comfort of your couch is more your style, that can work, too. Shopping for jewelry online is becoming increasing popular, thanks to websites such as Blue Nile and Ice.com. The online jewelry sales market in the United States has seen 2.9 percent annual growth since 2008 according to a 2013 IBISWorld industry report and online transactions accounted for 9.8 percent of overall jewelry sales in 2013.

In addition to taking most major plastic, both brick-and-mortar and online jewelers offer dedicated private-label revolving credit cards. Unfortunately, their terms tend to make the majors look like a bargain. Although jewelry sales abound as Valentine’s Day approaches, regardless of when you buy it, you’ll generally realize savings through a jeweler’s card only if you pay off the ring before any 0 percent promotional period expires.

For example, as of February 2014, the Kay Jewelers card offers one year interest-free with 20 percent down on a $500 minimum purchase. Once the promotional period expires, the APR rises to 18-24.99 percent (17 percent in Arkansas) and no annual fee. The Zales credit card features four interest-free payment plans, depending on how much you want to finance and the amount of your minimum purchase. For example, interest is waived for 12 months if you spend at least $1,000 and put 15 percent down. Once that interest-free period is over, the APR range jumps from 23.73 percent to 28.99 percent.

And note the Zales promotional deals’ fine print: If you don’t pay up by the end of whichever interest-free promotional period you choose (or if you make a late payment), interest will be retroactively charged from the date of purchase.

If you are looking to shop from the comfort of your home, comparable offers are available with online jewelers, but again, read the fine print. Blue Nile offers a credit card with three financing options: standard minimum monthly payments with an APR of 26.99 percent, no interest if paid in full within a selected six or 12 month window and a 9.99 percent APR option if the purchase is paid off by the end of the selected term. However, to get that low 9.99 percent interest rate, your minimum spend has to be $2,000.

What if she says no?
A jeweler’s return policy is another important factor to consider before buying a ring.
The Federal Trade Commission recommends you read the jeweler’s return and refund policies carefully before you buy; ask for one if it’s not provided. When ordering online, keep printouts of the site’s return policy as well as details of the transaction in the event you’re not satisfied with your purchase.

Most major jewelers will refund or exchange a ring in unused condition for 30 days, and some refund or exchange as far out as 90 days. They may deduct shipping and handling from your refund and charge a restocking fee. Exceptions are usually made if you received the wrong item or it was damaged in shipment.

engagement rings financing

Regina Leadem, industry vice president of sales for GE Money Luxury Card, one of the major private-label credit card processors in the jewelry sector, says jewelry returns are rare and usually hassle-free.

“I would be shocked today if a merchant did not take back a piece of jewelry,” she says. “They’re in it for the long haul; their lifeblood is in these small customers. I really don’t know any merchant that would do that.”

But should you happen upon an uncooperative jeweler, don’t abandon hope: Your major credit card companies have your back, sort of.

Help with diamond refund
If you’re unhappy with the results trying to return your purchase, there is an additional line of defense you can turn to. Discover: MasterCard, American Express and Visa all have return assistance policies.

If you make your purchase with a MasterCard, you’ll have 60 days to request a refund of up to $250. Visa cardholders may also be eligible for a $250 refund, but will have 90 days to make a refund request. Discover cardholders may be eligible for a refund up to $500 of the purchase price, per the specific card’s policy.

However, keep in mind that refund assistance policies are limited and vary, so check with your card issuer for more specific guidelines.

If you are hesitant about your big purchase, avoid charging it to an American Express card if you can because there will be no turning to them if you do. AmEx’s return policy specifically states that jewelry is not eligible.

Share the love — try social financing
Can’t make the math work with traditional financing? You might want to consider looking into the world of peer-to-peer lending.
Sites such as Prosper.com and Zopa.com directly connect individual borrowers and investors without using a middleman. Those looking for a loan complete a profile using their basic information and loan desires, which are then posted for review by potential investors. Through Prosper, investors set the interest rates they would like lenders to pay, typically starting at 6.73 percent for the best borrowers but can reach up to 35.36 percent.
Peer-to-peer lending has the potential to be fairly user-friendly, just keep an eye on the interest rates offered by the assortment of lenders. This method can also help you avoid the awkwardness of borrowing from family and friends.

Can You Make Girlfriend Happy With Two Carat Engagement Ring?

Two carat engagement ring is enough if you want to give it to your girlfriend as the present in her birthday. However, it is also enough if you have purpose to use it as engagement ring too. In this time, many people are thinking about the carat size in the ring that they want to give to their girlfriend. Actually, it is not too important to consider about the carat size. If you want to give special ring to your spouse, what you should consider is the meaning of the ring.
You can give Two carat engagement ring to your girlfriend and you do not need to worry about is it enough to make them happy. If you have chosen the proper ring design, which has deep meaning about love, it still will make your girlfriend happy whenever they receive it. If you still do not believe about what we said to you, then we will try to explain to you about how to make your girlfriend happy even you only given them the ring which attached with 1 carat gemstone. We believe it is great information that you want to hear right.

two carat diamond engagement ring

Choosing the Proper Gemstone to Increase the Appearance of Two Carat Engagement Ring
Many people say about 2 carat engagement ring is not big enough if it looks from the size of the gemstone. However, we think it is big enough and we have looked many people used ring like that too for engagement ring. The most important thing in engagement ring actually is not on the size of the gemstone, but it locates in the choosing of the proper gemstone. Here is the common gemstone type that we think suitable to attach in engagement ring.
Diamond is the first and become the most popular gemstone, which attached in the special ring purpose like engagement or wedding ring. Actually, the diamond gemstone is having many types too. Here are some types of diamond gemstone, which is proper to use for engagement ring.
– Yellow diamond
Yellow is great color to show about self-confidence and prosperity. If your girlfriend is having high self-confidence, it is good to give a ring, which attached with yellow diamond gemstone on it.
– Pink diamond
Pink is the soft color which loved by many girl. You are also able to choose pink diamond if you want to make your girlfriend happy in receiving the engagement ring.
– Green diamond
Green diamond is one rare diamond gemstone. If you want to give real special engagement ring to your spouse, this green diamond is good choice to attach in the ring.

Why You Need to Buy Expensive Ring If Two Carat Engagement Ring Can Make Your Spouse Happy?