Engagement Ring Financing

Finding the right time to make your proposal can be difficult, especially since that moment has to be just perfect. Sometimes, the perfect proposal moment comes around and you just don’t have the money for the engagement ring. For times like these, there is the beauty of engagement ring financing.

No one wants to have to finance their engagement ring, but this option is a very popular one, especially for young couples. There is nothing wrong with financing an engagement ring, but there are several things you need to know before proceeding with this project.

Financing a ring can be an expensive endeavor, but it doesn’t have to be. This article will help outline some options buyers have for financing an engagement ring, and then explain the do’s and don’ts of engagement ring financing. No matter which option you choose, she will be sure to love the perfection of the ring at just the right time.

Use a Credit Card

One option that buyers have for financing an engagement ring is to put the balance on a credit card. While this is not always the most desirable option, this has become a popular choice for many buyers. If you purchase your ring at a local jewelry store, there are often choices for financing with them. In many cases, this includes signing up for a jewelry store credit card on their terms.

Sometimes there is a promotion where you can finance the ring with zero interest for so many months. This time frame ranges, including some as short as thirty days, but others go up to a year or more. Always check out the terms of the agreement before deciding how to finance your ring. If you cannot pay off the balance within the time frame, then you will be charged interest and the price will increase accordingly.

Also, the interest rate on retail credit cards is often very high, so ask the jeweler to see just what the conditions of the financing will be. Sometimes, it would be better to use a personal credit card rather than pay the high fees that come with retail credit cards. Be sure to ask questions before signing up for a credit card at a jewelry store. You don’t want to get stuck with a balance that you can’t afford to pay off before the interest kicks in.

Buy Online

Although you may not want to buy an engagement ring online, there are many great opportunities for financing if you shop online at stores like bluenile.com or ice.com. It may be a good thing to be wary of purchasing jewelry online, but by shopping at a reputable site like these, chances are you will receive high-quality jewelry.

Engagement Ring Financing

Both of these sites offer a wide variety of choices for engagement rings, including diamonds, custom-designed rings, designer engagement rings, gold, platinum, and intricate designs for engagement rings.

You will be sure to find something you like on one of these sites, among others that offer financing for engagement rings. Often, online stores will be able to provide better financing terms than local jewelry stores.

Their promotions often last longer, have better interest rates, and provide lower interest rates for longer periods of time. One thing you do want to be sure of, however, is that the site you are shopping with has a decent reputation.

Do some background checking in order to be sure that you will receive a high-quality product. Also, always read the fine print of financing terms before agreeing to them. There may be something in the fine print that is unappealing to you, and if so then it would be good to find another way to finance your ring.

Return Policies and Guarantees

If you are afraid of shopping online, or if you think your fiancee may not like the ring you choose for her, then it is also important to look into a company’s return policy for their engagement rings. It is unlikely that many will be unwilling to take back the ring within a certain time frame (usually thirty days), but some still do not allow returns. Be sure to check with the jeweler or look at the online store’s website to find information about return policies.

Bluenile.com and ice.com both have return policies that allow jewelry to be returned within thirty days of purchase, so even if you are the one who is not satisfied with the quality of the ring, you will be able to return it for a refund. Speaking with a customer service individual will help you to receive more information on the return process. By checking to see if a company has a return policy on their jewelry, you can be sure that you will get exactly what you want in an engagement ring. If you do not like the ring, you can always send it back for an exchange or a refund.

Also, this is a good backup plan to have in case your fiancee does not like the ring you choose for her. This way, she will be able to choose her own engagement ring and there will be no extra hassle involved. If the company does not have a return policy, it is not recommended that you shop there. Engagement rings are items that should come with a guarantee of some sort, and if the jeweler cannot be confident enough in their work to be able to take it back, then maybe you should shop elsewhere.

Purchasing Multiple Rings

Another option you have for financing the engagement ring is to finance the engagement ring and the wedding bands together. This has become very popular in recent years, since often couples want the engagement ring to match the wedding band. This process is very similar to financing an engagement ring, although it is often more costly.

However, jewelers do sometimes provide a discounted price if you choose to purchase the engagement ring and the wedding bands at the same time. This way, you can save money and all of the jewelry will match. The financing options are essentially the same. Just be sure that the price of the rings is one that you can afford to pay back before the promotions end. Otherwise, budget your money to include the cost of the interest rates.


Aside from credit cards, some individuals also choose to take out a loan to pay for their engagement ring. Although this does not sound all too appealing, often the interest rates on personal loans are lower than those of credit cards. If you cannot find a company that will finance your payments on a credit card that seem feasible, then a personal loan is another popular option.

Banks often have loans available to those who plan to finance a wedding, and an engagement ring purchase falls perfectly into that category. Sometimes jewelry companies will also offer personal loan plans like this, but it is far less common than the retail credit cards mentioned earlier.

Just remember that any line of credit you take out will depend on and will have an effect on your credit score, so be aware of this. If you are thinking of purchasing a ring costing tens of thousands of dollars, remember that it may not be possible to get such a large loan amount. Always plan to purchase within the means of your budget. This will be important not only for you, but also for your future bride as the wedding bills start to pile up during the marriage process.


No matter which way you choose to finance your ring, your bride will be sure to love you for it. Choosing the right time to propose is the most difficult task for a groom-to-be, so make that moment extra special by having the right ring to present to your lovely lady. By financing an engagement ring, you will be able to give her the perfect engagement ring and still be able to choose just the right time to propose.

By remembering these do’s and don’ts of engagement ring financing, payment options will be available to fit any kind of budget. What is really important is that she loves the ring and that your special day is absolutely perfect.

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