Consumers are now given more options than ever before when it comes to financing jewelry with bad credit. Using this tool, you can more realistically acquire the jewelry that you love, even if you have a less-than-perfect credit score. Learn about these critical aspects of bad credit jewelry financing below:
Adding jewelry to your wardrobe will enhance both your style and appearance. Jewelry made of gold or diamonds is expensive and requires a large investment. People with less-than-stellar credit history often find it difficult to qualify for traditional loans.
Fortunately, other financing options are available that can help you get the jewelry items you want without putting your finances at risk. Jewelry financing with bad credit is a flexible financing option that allows people with bad credit to purchase high-quality jewelry items without paying for the items in full upfront.
According to Experian’s 2020 Consumer Credit Review, 16% of Americans have a poor credit score of between 300-579, while 18% have a fair credit score of between 580 and 669. A FICO® score is also crucial when applying for a loan, but 22% of Americans don’t have one, making it hard for them to access traditional loans.
Jewelry credit financing with bad credit may help consumers with less-than-stellar credit history purchase quality jewelry from popular jewelers.
No credit check financing for jewelry is different from no credit needed financing in that no credit check financing does not require a credit report or history for approval. This means that the specifics of your credit history don’t affect your credit approval.
You can finance almost any type of jewelry you want with bad credit financing. These items include fine jewelry such as diamond rings, necklaces, earrings, bracelets, and cufflinks. You can also buy gold or sterling silver items like chains, pendants, charms, etc.
People tend to finance popular jewelry items that are in high demand. These include diamond engagement rings, gold pendants, along with earrings, and other jewelry. Below are some common jewelry items and brands along with average prices and stores where you can purchase them.
Types of Jewelry
Engagement Rings: Find a Store*
Earrings: Find a Store*
Necklaces: Find a Store*
Bracelets: Find a Store*
Chains: Find a Store*
**Retail prices may vary based on extras and the type of appliance you purchase. For example, a simple oven can have a retail price as low as $500, however, a double oven may have a retail price upwards of $2,500.
*NOTE: Payment solutions vary based on the merchant and will be indicated at the beginning of the application process. Confirm that the merchant you select offers the lease, loan, or cash purchase solution you intend to apply for.
An engagement ring financing is crucial when you want to purchase the perfect engagement ring for your loved one but can’t afford to pay in full. Engagement rings symbolize deep love, bond, and a life-long commitment to your partner.
Diamond and gold engagement rings and wedding bands are popular due to their high quality and uniqueness.
Diamond engagement rings are typically costly, but financing may allow you to obtain one with an affordable financing program.
Earrings complement your outfit and enhance your overall appearance. They come in different styles to fit every occasion. Their shiny and dazzling appearance makes them a popular selection. Diamond earrings are the most popular type of earrings. Gold, silver, and platinum earrings are also common among females.
Chains are extensions of your outfit that add glamor and style. They come in different styles to enhance your look. They feature exquisite designs and stylish engravings that add personality to your appearance. Available brands of chains include Tiffany & Co., David Yurman, and Bulgari. Cable gold chains are the most popular type of chain due to their timeless appearance and unique designs.
They come in several styles and designs, including:
With the advancement of social media, most people today interact and share their experiences. Jewelry has become a popular topic and trend on social media sites like Facebook and Instagram, with everyone trying to showcase their unique styles.
More and more people are now buying jewelry than ever before. However, gold and diamond jewelry are expensive and require a considerable capital investment. And without good credit history, it often gets challenging for people with bad credit to secure financing from financial institutions and credit unions.
With 34.8% of Americans having credit scores between 580 and 669, most people have turned to tertiary financing options to get their perfect piece of jewelry. As a result, financing jewelry with bad credit has been a popular option for those who have had credit declined by banks and can’t acquire conventional loans. The increased accessibility, evolution, and improvement make tertiary financing a popular choice among people with bad credit.
Bad credit jewelry financing options are affordable payment plans available to consumers with bad credit to purchase quality jewelry from top jewelry stores to complement their style. Lacking a good credit score often makes it hard for financial institutions to approve you for traditional financing options.
Today, there are specific payment solutions providers that can offer different purchase solutions to people with less-than-stellar credit history to finance their jewelry purchases.
While bad credit jewelry financing is an excellent option for people with bad credit, it’s still confusing to most people. Below you will find the most frequently asked questions about this financing option.
Q: What Qualifies as “Bad Credit” Financing?
A: Bad credit jewelry financing refers to an affordable payment plan that can be available to consumers with less-than-stellar credit history.
Q: Where’s the Best Place to Finance Jewelry?
A: The best place to finance your jewelry depends on your needs and situation and where you get financing. Most financial lenders will have specific requirements for the use of their approved financing.
Q: How Can I Finance Jewelry With Bad Credit?
A: You can apply for jewelry financing right here on our website in minutes. Not everyone will be approved, but having bad credit doesn’t automatically mean you’ll be denied. Your credit will be checked, but having a less-than-perfect credit history doesn’t necessarily disqualify you. To begin, select your preferred jewelry store near you.*
*Payment solutions vary based on merchant and will be indicated at the beginning of the application process. Be sure to confirm that the merchant you select offers the lease, loan, or cash purchase solution you intend to apply for.
Q: Where Can I Use My Jewelry Financing if Approved?
A: These days, there are hundreds of stores that offer bad credit jewelry financing options across the country.