It is generally recommended to limit the amount of money spent on an engagement ring – or any type of diamond jewelry for that matter. When it comes to an engagement ring, it is often advised that a man should not spend more on the piece of jewelry than three months of his salary combined. With this in mind, most men would not be able to take three salaries just like that and spend it on such a ring. This would leave them without any money for three whole months – they still need to buy food and other essentials to survive. Luckily for those who are finding themselves in a difficult situation as they are unable to afford such a lump sum payment, Blue Nile offers a convenient financing program that gives the customer to pay the amount of their diamond off over multiple months.
First of all, Blue Nile does not offer a personal loan to their customers and, unlike some competing jewelry brands, the company does not refer the client to a third-party lender for a loan application to help them afford the particular piece of jewelry they are interested in buying. Instead, Blue Nile offers a unique Blue Nile Credit Card that offers the customer “cash advance” on a credit card that can be solely used to purchase products from this particular brand. It should also be noted that this credit card cannot be used at any other retailer as it is strictly for buying items from Blue Nile alone.
With this credit card, Blue Nile gives the customer the opportunity to select between a variety of financing options. They will first receive a particular amount they quality for, which will then be loaded on the card. The customer can then use the card to purchase an item up to the value they qualified for on their credit application. Should additional fees be needed, the customer can choose to pay these fees in through cash or by using another universally accepted credit card.
The most important feature about the Blue Nile credit card is the fact that a customer does not have to pay any interest on the credit they use if they are able to pay the amount off within a total of 18 months. Note that certain terms and conditions apply for this feature to become available, but this still remains a feature that sets Blue Nile apart from many competitors.