There are a few ways to get financing for your new piece of jewelry. First, Jewelry Store Financing you can apply for credit from a jewelry store. Most of these lenders offer more flexible credit terms than other credit card issuers. For example, the Blue Nile credit card has similar terms as a traditional retail credit card, but the customer must pay off the balance in full within the promotional period. Once you've accumulated enough funds to make the full payment, you can then use this credit to purchase additional pieces.
Most jewelry stores offer financing. While many retailers can't legally refer to their services as "financing," most will. While most credit cards are a great option, it's important to compare the different financing options and make sure that they're a good fit for your business. Some stores even offer lease-to-own and layaway plans. Regardless of your credit history, most jewelry stores offer in-store financing.
Using jewelry store financing also has other benefits. For one, you won't have to worry about late payments or retroactive interest. And if you don't have the money to pay off your purchases, the business owner can easily use an online finance company like Synchrony Financial. They also provide free marketing materials like posters, hangtags, tent cards, window clings, and radio ads. You can take advantage of the advertising options by using direct mail, radio, or print media. You can mention the payment option early to encourage customers to make a decision. This can result in higher sales and higher ticket prices.
A jewelry store may offer a no-interest promotional period to attract new customers. This type of financing is ideal for customers with poor credit or no credit, as it won't affect the customer's credit score. The process is also 100% paperless. An application can be completed in less than 60 seconds, and you'll have the money you need within 24 hours. If you're not comfortable with the high interest rates and fees, try an alternate finance option instead.
The interest rate of a jewelry store loan depends on your credit score, your debt-to-income ratio, and your employment status. However, big jewelry stores usually offer special financing packages that have 0% interest for several months. These plans are ideal for a jewelry store, but the rates are a little higher than those of a small business. A large-scale lender may offer even lower interest rates. It's best to shop around until you find the best deal.
There are several advantages to jewelry store financing. While many online vendors offer this type of financing, you can also apply for a low-interest credit card. These cards are safer to use than personal loans because they have low interest rates and promotional deals. This type of finance can help you acquire a larger variety of jewelry. You can also expand your business into a new area or purchase more retail space. By doing so, you can target more customers with your merchandise.