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When you’re able to pop the query, congratulations! However first, you will wish to ask a special one: How will you truly pay for the ring?
In keeping with The Knot’s Jewellery and Engagement Examine, the common engagement ring prices round $6,000. Understandably, you’ll wish to maximize a giant buy like this with the appropriate bank card.
So what’s one of the best ways to pay for it with a bank card? First, determine which issue is most essential to you:
- If you wish to repay the ring buy over time: Search for playing cards with one of the best introductory 0% annual share price provide.
- If you wish to hit a sign-up bonus for a big inflow of factors: Search for playing cards with nice welcome presents.
- If you would like one of the best return in your buy: Search for playing cards with a strong flat-rate incomes construction.
- If you wish to ensure your ring is protected: Search for playing cards with nice buy safety.
Listed here are a few of our favourite playing cards for every class.
Finest intro APR provide
Winner: Capital One Quicksilver Money Rewards Credit score Card
Annual charge: $0
Rewards in your engagement ring: Earn a $200 money bonus when you spend $500 on purchases inside 3 months of account opening. You will additionally earn limitless 1.5% money again on all purchases, together with your ring buy.
Why we like it: With the Capital One Quicksilver, you’ll get 0% intro APR for the primary 15 months on new purchases beginning while you open your account (19.74% – 29.74% variable APR after). Plus, that money bonus will assist offset the ring price a bit.
With the common engagement ring costing $6,000, you’d have to pay no less than $400 a month to pay that off over 15 months with out curiosity with this card. The most effective half is that you just’ll additionally get 1.5% again in cash-back rewards (round $90 for a $6,000 ring buy).
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For extra particulars, try our full overview of the Capital One Quicksilver.
For added choices, try our record of greatest playing cards with a 0% APR intro provide.
Finest welcome bonus
Winner: Chase Sapphire Most popular® Card
Annual charge: $95
Rewards in your engagement ring: Earn 80,000 Chase Final Rewards factors after spending $4,000 within the first three months from account opening. This bonus is price $1,600 in response to TPG valuations. Along with this bonus, you will earn one level per greenback spent in your ring buy.
Why we like it: The Chase Sapphire Most popular Card lately launched an elevated provide, so in the event you’re trying to buy an engagement ring and earn a wholesome bonus, the timing could also be excellent. However past the 80,000-point provide, you will additionally take pleasure in quite a lot of bonus classes, a $50 annual resort credit score for reservations made by Chase Journey and terrific journey protections, all for an inexpensive $95 annual charge.
The Sapphire Most popular does have a purchase order safety profit that covers theft or harm to eligible gadgets bought together with your card up to now 120 days, however you’ll solely be reimbursed for as much as $500 per declare. That’s possible not going to come back near masking the total value of the ring.
For extra particulars, try our full overview of the Chase Sapphire Most popular.
Runner up: The Platinum Card® from American Specific
Annual charge: $695 (see charges and charges)
Rewards in your engagement ring: Earn 80,000 Membership Rewards® Factors after you spend $6,000 on purchases on the cardboard in your first six months of card membership. This bonus is price $1,600 in response to TPG valuations. Along with this bonus, you will earn one level per greenback in your ring buy.
Why we like it: When you’re prepared to splurge for a better annual charge in alternate for extra perks, The Platinum Card® from American Specific could possibly be an amazing choice. It has a strong welcome bonus provide of 80,000 Membership Rewards factors, nevertheless it’s doable to get focused for a a lot larger bonus by CardMatch (provide topic to vary at any time) or by way of a referral. Not solely does this card have a wholesome bonus, the Amex Membership Rewards factors it earns are among the Most worthy transferable rewards you may get.
The Amex Platinum has a slew of nice advantages, and one which’s significantly helpful in a hoop buy is its buy safety. Once you pay with this card, you’ll be coated for harm and theft for 90 days from the date of buy. You could be reimbursed for the quantity charged to the cardboard, for as much as a most of $10,000 per incident ($50,000 max per account per calendar yr). Enrollment required for choose advantages.*
* Eligibility and profit ranges range by card. Phrases, circumstances and limitations apply. Go to americanexpress.com/benefitsguide for particulars. Insurance policies are underwritten by AMEX Assurance Firm.
For extra particulars, try our full overview of the Amex Platinum Card.
For added choices, try our full record of playing cards with essentially the most precious welcome bonuses.
Finest flat-rate incomes
Winner: Chase Freedom Limitless
Annual charge: $0
Rewards in your engagement ring: Earn 1.5% money again on non-bonus spending. Plus, earn a sign-up bonus of a further 1.5% on all purchases as much as $20,000 within the first yr. This implies you will get a 3% return in your engagement ring if you are going to buy it inside the first yr of opening the cardboard.
Why we like it: An engagement ring buy possible will not fall right into a bonus incomes class with most playing cards, so you will wish to use a card that has a strong flat-earning price (just like the Chase Freedom Limitless) to earn most rewards in your buy. This card earns 1.5% money again on all purchases, together with your ring. However what actually units the Freedom Limitless aside is that these rewards can flip into transferable Final Rewards factors in the event you even have the Chase Sapphire Reserve or Chase Sapphire Most popular Card. Primarily based on TPG’s valuations, this could improve the worth of your factors to 2 cents every.
The Freedom Limitless does provide 0% intro APR on purchases and stability transfers for the primary 15 months your account is open. Though this can provide you further time to repay your buy, the APR will bounce to a variable 19.74% – 28.49% based mostly in your creditworthiness as soon as the primary 15 months are over. Moreover, gadgets you buy which have a producer’s guarantee of three years or much less might be coated by an additional yr of prolonged guarantee safety for as much as $10,000 per declare. You’ll even be protected in opposition to theft or harm to your purchases inside the first 120 days, however just for as much as $500 per merchandise.
For extra particulars, try our full overview of the Chase Freedom Limitless.
Money-back runner up: Citi® Double Money Card
Annual charge: $0
Rewards in your engagement ring: Earn as much as 2% again (1% while you purchase and 1% while you pay your invoice) on all purchases, together with an engagement ring.
Why we like it: When you’re on the lookout for money again, the Citi® Double Money Card is one other nice choice with a strong flat-rate return on all purchases. It doesn’t include an introductory buy APR provide, a sign-up bonus or buy protections just like the Chase Freedom Limitless, nevertheless it doesn’t cost an annual charge and comes with a greater cash-back return in the event you don’t have one other Chase card to pair with the CFU.
For extra particulars, try our full overview of the Citi Double Money.
Journey rewards runner-up: Capital One Enterprise Rewards Credit score Card
Annual charge: $95
Rewards in your engagement ring: Earn 75,000 bonus miles when you spend $4,000 on purchases inside the first 3 months from account opening. Plus, earn a vast 2 miles per greenback on each buy, together with an engagement ring. This bonus is price $1,388 in response to TPG valuations.
Why we like it: The Capital One Enterprise Rewards Credit score Card is one other card with an amazing flat-rate incomes construction. Whereas the cardboard does include a $95 annual charge, you’ll additionally get a strong sign-up bonus, prolonged guarantee safety and the flexibleness to redeem miles as an announcement credit score for journey or by transferring to companions.
For extra particulars, try our full overview of the Capital One Enterprise Rewards bank card.
For Capital One merchandise listed on this web page, among the above advantages are offered by Visa® or Mastercard® and should range by product. See the respective Information to Advantages for particulars, as phrases and exclusions apply
For added choices, try our full record of greatest cash-back playing cards and greatest journey rewards playing cards.
Finest for buy safety
Winner: American Specific® Gold Card
Annual charge: $250 (see charges and charges)
Rewards in your engagement ring: Earn 60,000 bonus American Specific Membership Rewards factors after spending $4,000 in your card within the first 6 months of account opening (see charges and charges). This bonus is price $1,200 in response to TPG valuations. You will additionally earn 1 level per greenback in your engagement ring buy with this card.
Why we like it: If you would like a card that gives nice buy safety however aren’t able to pay the Amex Platinum’s hefty annual charge, the American Specific® Gold Card is a superb choice. Similar to with the Amex Platinum, you’ll be coated for harm and theft for 90 days from the date of buy. You could be reimbursed for the quantity charged to the cardboard, for as much as a most of $10,000 per incident ($50,000 max per account per calendar yr). Enrollment required for choose advantages.*
* Eligibility and profit ranges range by card. Phrases, circumstances and limitations apply. Go to americanexpress.com/benefitsguide for particulars. Insurance policies are underwritten by AMEX Assurance Firm.
For extra particulars, try our full overview of the Amex Gold Card.
For added choices, try our favourite playing cards with buy safety.
Backside line
An engagement ring might be one of many greatest purchases you will make, so think twice about which card you will use when the time comes. Ensure you select a bank card that is greatest suited to your buy priorities, and have a plan to repay the stability earlier than you get hit with curiosity on this massive buy. When you observe our recommendation, your rewards stability will sparkle virtually as a lot as the brand new ring while you pop the large query.
For the charges and charges of the Amex Platinum, click on right here.
For charges and charges of the Amex Gold, please click on right here.
Extra reporting by Madison Blancaflor.
