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Last Updated on January 4, 2023 by Steal the Style
Do you love keeping up with the latest trends — especially if it’s something sparkly? (Does that go double if it’s what all the celebs are wearing, whether it’s their own line or for a film?) Or maybe you have a bigger purchase in mind, like an engagement ring for her or watch for him.
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Know Why You’re Choosing to Buy Jewelry Now, Pay Later
But jewelry can be expensive, and the more important the occasion or the item, the pricier the piece. That doesn’t mean you have to content yourself with buying pieces that are fake — and risk having an allergic reaction — or going without jewelry altogether. Buy now, pay later can help you turn your next piece of jewelry into a budget-friendly purchase instead of a wallet-busting splurge.
Understand Your Financing Options
Buy now, pay later services work by breaking down the cost of your purchase through a payment plan. For example, a purchase might be split into four equal payments, with the first due at checkout and the next three due every two weeks. Typically, there’s no hard credit check involved, which makes buy now, pay later a great option if you’re looking for a way to break up the cost of an item without having to worry about impacting your credit score. On the flip side, if you’re looking to improve your credit, you can choose a buy now, pay later service that will perform a hard credit check and report your monthly payments.
Sign Up for the Best Options & Build Your Credit Line
If you have a big purchase you’re working towards, keep in mind that you’ll need to show a history of buying and paying off balances. It’s best to start sooner rather than later, with smaller purchases so that you can build towards a high credit limit that will allow you to afford pricier pieces.
Not sure where to start? PerPay is specifically designed to help you build up your credit through buy now, pay later purchases. Klarna is another great option because the buy now, pay later service gives you three ways to pay: you can divide the cost of your purchase into four equal payments; pay in 30 days, which means you can try out an item before you commit; or apply for monthly financing. You can use the former two ways to pay to build up your history then move onto monthly financing to start taking on larger purchases.
Shop at a Buy Now, Pay Later Jewelry Store
Ready to start shopping? Here are three stores where you can purchase jewelry using buy now, pay later — plus, the details of using these payment options at each one:
For 75 years, REEDS has sold everything from engagement rings and wedding bands to earrings and luxury watches. There are four ways to pay:
- REEDS Jewelers Credit Card: You’ll have to apply, and it will affect your credit score. On the plus side, you earn 3 points for each $1 you spend.
- Afterpay: This buy now, pay later service will divide up the cost of your purchase into four payments due every two weeks. If you pay on time, you don’t have to worry about interest or added fees. The catch: Your order must cost between $35 and $2,000.
- Affirm: You can use financing options to pay for your purchase with credit over 3, 6, or 12 months. This is a particularly good choice if you’re new to credit or working to build your score.
- Progressive Leasing: You can choose a lease-to-own option that will let you buy the item over the course of 12 months. Keep in mind, though, that if you decide to purchase the item earlier, doing so will cost more than the cash price of the item.
This luxury brand is known for its Cable Classic bracelets designed by its namesake, sculptor-turned-jeweler David Yurman. The brand has partnered with buy now, pay later service Affirm. You can pre-qualify or apply at checkout to quickly find out if you can use Affirm’s financing options. Affirm will conduct a soft credit check — which won’t affect your score — and will show you the different loan options available to you at purchase, including the APR for the item and what the monthly payment amounts will come to.
If you love pearls, you’ll be hard pressed to find a better bargain than the Pearl Source, which offers necklaces, earrings, rings, and bracelets at a fraction of what they would typically sell for. Like David Yurman, the Pearl Source accepts Affirm, so you can use the service to turn what would otherwise be a large purchase into smaller, more manageable payments, with no fees of any kind.