*Editorial Note: This content is not provided or commissioned by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.
This post contains references to products from one or more of our advertisers. We may receive compensation when you click on product links. For more information, please see our Advertiser Disclosure
Is it time to pop the question? Looking to buying mom that little something special for her big day coming up? Is a birthday around the corner? If so, you might be looking to a jewelry store to buy that special gift. However, with the high cost typically associated with buying jewelry and other similar keepsakes, most people put these purchases on a credit card. If you're looking to make that special buy at Zales, you should read this review before you apply for the Zales Credit Card.
Zales Credit Card Intro Promo
If you're looking to pick up some jewelry from Zales, they are running a promotion that offers no interest on your Zales Credit Card if you pay off your purchase in six months on purchases $300 or more. This offer is running from April 23, 2012 to June 17, 2012, but if you're reading this after this offer expires, be on the lookout for offers similar to this throughout the year.
Be very mindful, however, of the catch on this offer. If you do not pay off your balance in the six month time period, you will be charged interest from the time you made the purchase. So, if you're $100 or $200 short after six months, you will be charged interest on your entire purchase amount for six months and whatever time it takes you to pay the rest of the balance off. Deferred interest is the term credit card issuers use, and it sucks.
Zales Pricing Details
There is no annual fee to use the Zales Credit Card, but like most store credit cards, there is a very high interest rate charged to the card, due to the more lax credit score needed. At up to 28.99%, Zales Credit Card should be paid off monthly to maximize the benefits of the card, otherwise, this card becomes a money loser. Unfortunately, this card can only be used at Zales, Zales.com, or their outlet store, as its not backed by any of the major credit card companies like MasterCard, Visa, or American Express. Because of this, there are few added perks outside of making Zales purchases during a promotional period. They do offer 0% liability on unauthorized purchases and credit insurance, but that's about it.
The real concern from the Zales Credit Card comes from it's usage. As a one time use for the 0% opportunity, it's an OK play at best. But with no rewards program, this card has an absolutely "STAY AWAY" sign all over it. Plus, if you find yourself shopping at Zales often, you may have a little spending problem.
If you need to make a jewelry purchase, whether it be at Zales or another store, using a store card is not the way to go. The insanely high APR and catches to their regular promotions make the Zales Credit Card a risky one to own, never mind use for purchases small or large. The Zales Credit Card has no current offers or perks to make this anything more than a card to pass on. Recommendation to avoid at all costs.
*The content in this article is accurate at the publishing date, and may be subject to changes per the card issuer.