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When you need time to pay off a sparkly gift for yourself or a special someone, the Zales credit card — also known as the Diamond Credit Card, issued by Comenity Bank — can take the pressure off your budget with several financing options and perks. Depending on your goals, though, it may not be as valuable as other credit cards that offer rewards or a sign-up offer.
Here’s what you need to know as you compare the Zales credit card with other options.
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1. You can’t use it outside of Zales
Some store-branded credit cards offer different versions: one you can use basically anywhere, and one you can use only within that brand. The Zales credit card falls into the latter category; you can use it in Zales stores or online at Zales.com, and that's it.
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If you prefer an all-purpose credit card, consider an option like the $0-annual-fee Wells Fargo Active Cash® Card. It earns 2% cash back on purchases and also offers a sign-up bonus: Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. Plus, there's an introductory APR: Get a 0% intro APR on Purchases for 15 months and 0% intro APR on Balance Transfers 15 months from account opening on qualifying balance transfers, and then the ongoing APR of 20.24%, 25.24%, or 29.99% Variable APR. That’s a lengthy interest-free window that can help you pay down a purchase made with Zales — or with a different jeweler.
2. It offers special financing on purchases of $300 or more
The Zales credit card has an abundance of financing options, depending on the purchase amount. The Zales credit card's terms include:
Special financing for six months on purchases of $300 or more.
Special financing for 12 months on purchases of $750 or more.
Special financing for 18 months on purchases of $3,000 or more.
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Before accepting this kind of offer, however, it’s important to understand how it works. It’s not a true 0% APR offer, in which interest is charged only once the promotional period expires and only on the remaining balance. No, the "special financing" promotions on the Zales credit card are deferred interest offers, which means that if you don’t finish paying off the entire amount you financed by the time the promotional period expires, you’ll owe interest on that full amount, dating back to the time of the original purchase. If you’re not prepared to pay that cost, it can lead to debt — especially with the card’s high interest rate. (More on that later.)
If you pay off a deferred interest offer in full before the promotion elapses, you won't owe any interest. But if there's any doubt whether you can do that, look for a true 0% intro APR offer instead. Consider a credit card like the $0-annual-fee U.S. Bank Visa® Platinum Card, which offers a 0% intro APR for 18 billing cycles on purchases and balance transfers, and then the ongoing APR of 18.74%-29.74% Variable APR. If at the end of that time you still owe a balance, you'll be charged interest only on what remains, and only from that point.
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The Zales credit card also offers an option to finance a minimum purchase of $1,500 over 36 months for an APR of 16.99%. After that, a variable purchase APR applies. (These rates are accurate as of March 2024.)
3. The ongoing APR is exorbitant
With a pricey ongoing interest rate topping 33% as of March 2024, you could be paying off your bill for a long time if you’re charging a regular purchase or the promotional period runs out on a financing offer. By comparison, the average interest rate for credit cards assessed interest as of November 2023 was 22.75%.
Avoid carrying an ongoing balance on this credit card if possible.
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4. There are perks, but no rewards
The Zales credit card doesn’t earn rewards, but it can offer a lengthy list of perks. The drawback is that you’ll have to meet a spending requirement to earn some of them.
The perks you’ll get as a cardholder include:
A welcome gift: New cardholders will get $50 off a $250 minimum purchase.
A birthday offer: Get $50 off a $250 purchase.
A cardholder anniversary gift: Get $100 off a minimum purchase of $499.
$100 off twice per year: Receive $100 off a $399 purchase twice per year.
10% off repair services: If your jewelry breaks, needs resizing, resetting, polishing and more, you’ll get a discount.
Free shipping: Receive free standard shipping in the U.S. and its territories, allowing your purchase to arrive within three to five business days.
A free Rocksbox trial: Receive a free month of access to a jewelry rental membership and a $10 shopping credit when you subscribe.
In addition to these perks, you’ll get access to early sale alerts, inspection cleaning reminders and cardholder-only events. Terms apply.
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These could be valuable perks, but only if you're committed to consistent spending at Zales. A cash-back credit card could offer more value and/or flexibility since those rewards easily accumulate with everyday purchases and you could redeem them toward whatever you like — including a Zales purchase.
A card like the Capital One SavorOne Cash Rewards Credit Card, for instance, earns 3% back on dining, eligible streaming services, purchases at grocery stores and entertainment. It earns rewards in other categories, too. It also offers a valuable sign-up bonus: Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening. This card also offers a way to finance a purchase with a true 0% APR: Get a 0% intro APR on purchases and balance transfers for 15 months; 19.99% - 29.99% variable APR after that; balance transfer fee applies.
🤓Nerdy Tip
If you’re buying a gift to mark a special event and there’s a trip attached to the occasion such as a honeymoon, anniversary or another celebration, consider a travel rewards credit card to earn points or miles toward the vacation.
5. You need to create an online account to apply
To apply for the Zales credit card, you have to create an online Zales.com account. It’s one extra step in the application process, but it can provide immediate access to the card after approval. Credit card information is saved within your Zales.com account, so it's possible to use it to make purchases online. The website recommends using the same email to create an online account as the one you’ll use in the credit card application.
Getting quick access to the credit card can be useful if you’re pressed for time, but the Zales credit card isn’t the only option that provides instant use after approval.
