Avoiding Store Credit Cards for Engagement Rings
December 23, 2007
Getting engaged is an important time in a couple’s life. An engagement ring will be worn for your whole life. For many couples, the cost of an engagement ring can be really high. How do you pay for a ring without waiting years to save up for it and postpone your wedding?
One way to pay for an engagement ring is with a store credit card. Many jewelers offer these. The problem with the store credit cards is that they have an incredibly high interest rate. You can go and get a regular credit card often for 5 percent or more low interest than the typical store credit card. You’re better off using a regular credit card than a store credit card for engagement rings.
The other option is to borrow the money from friends and relatives and pay it back. You can even offer them a small amount of interest to get the help. This will still come out cheaper than a store credit card.
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