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Zales Credit Card Review

Zales Credit Card Review

*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Apr 13, 2020. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

Diamonds are forever, but is applying for a Zales Credit Card, issued by Comenity Bank, the best way to finance your jewelry purchase?

Zales calls this card “the diamond card.” While it comes with financing offers of up to 36 months, which could help when purchasing a big-ticket item like an engagement ring, beware that some offers involve deferred interest. That means you’ll owe interest from the purchase date if you don’t pay in full by the time the financing period ends.

Zales Credit Card pros

Jewelry financing options. The Zales Credit Card offers a variety of special financing deals, including:

  • 6 months interest-free on purchases of $300 or more.*
  • 12 months interest-free on purchases of $750 or more.*
  • 18 months interest-free on purchases of $3,000 or more.*
  • 36 months of a 9.99% APR on purchases of $1,500 or more.*

With the “no interest if paid in full within 6, 12 or 18 months” offers, if you don’t pay off the purchase in full during the promotional period, you’ll be hit with interest charges dating back to the time of purchase. With the 36-month offer, you’ll be charged the regular purchase APR of 29.99% variable on any remaining balance.

*Terms and conditions apply. This offer and/or promotion may have since changed, expired or is no longer available.

No annual fee. You don’t have to pay to carry the card, since the annual fee is $0.

Additional benefits:

  • $50 off on a purchase on your birthday
  • Free standard shipping (three to five business days) in the U.S. and U.S. territories
  • Cardholder-only coupons, jewelry inspection reminders and cleaning notifications
  • 10% off any repair service with purchase on your card.

Zales Credit Card cons

Deferred interest. Most of the special financing offers on this credit card involve deferred interest. That means if you don’t pay off the whole purchase within the promotional window, you’ll be assessed interest from the purchase date.

High APR. The Zales Credit Card has an interest rate of 29.99% variable. If you use one of the special financing offers, make sure you budget accordingly so you can pay off the whole purchase within the no-interest period.

Transaction fee. There’s a promotional transaction fee of $9.95* for the 12-month and 18-month financing plans. This is a one-time fee that you will have to pay each time you make a transaction that takes advantage of one of those plans.

*Accurate as of the original date of publication.

Can only be used at Zales. This is a store card. Unless you shop at Zales very frequently, we think a general-use credit card that can be used anywhere is likely to offer more value.

Alternative ways to finance a jewelry purchase

Apply for an intro 0% APR credit card

It can be easy to mix up credit cards that offer deferred interest financing periods with those that offer intro 0% APR on purchases, but you should know the difference. When a card offers a 0% intro APR on purchases and the intro period ends, you’ll only start to accrue interest on the remaining balance — not on the entire balance from when you made a purchase. That’s a much better deal than deferred interest, where if the balance is not paid off in time, you’ll owe interest from the date of the purchase.

Here are a few credit cards worth considering for intro 0% APR offers:

  • The Wells Fargo Platinum card offers an introductory APR of  0% for 18 months on purchases. After, a 15.49%-24.99% (variable) APR applies.
  • The HSBC Gold Mastercard® credit card offers a 0% Introductory APR on credit card purchases for the first 18 months from account opening. A Variable APR of 12.99% - 22.99% will apply after the Introductory Period.
  • The Discover it® Cash Back offers an introductory APR of 0% for 14 months on purchases. After, a 11.99% - 22.99% variable APR applies.

Plus, some cards offer both an intro 0% APR on purchases and a sign-up bonus. Buying a big-ticket piece of jewelry could be an opportunity to meet the spending requirement on your card’s sign-up bonus. Think of it as a discount on the price of your purchase!

  • 0% for 14 months on purchases and Balance Transfers, then 11.99% - 22.99% Variable.

  • Earn 5% cash back on everyday purchases at different places each quarter like grocery stores, restaurants, gas stations, select rideshares and online shopping, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases - automatically. *

  • Get a dollar-for-dollar match of all the cash back you've earned at the end of your first year, automatically*

Highlights
  • INTRO OFFER: Discover will match ALL the cash back you've earned at the end of your first year, automatically. There's no signing up. And no limit to how much is matched.
  • Earn 5% cash back on everyday purchases at different places each quarter like grocery stores, restaurants, gas stations, select rideshares and online shopping, up to the quarterly maximum when you activate.
  • Plus, earn unlimited 1% cash back on all other purchases - automatically.
  • Redeem cash back any amount, any time. Rewards never expire.
  • Use your rewards at Amazon.com checkout.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
  • No annual fee.
  • See Rates & Fees

See additional details for Discover it® Cash Back

More Info

Consider a personal loan

If your credit is less than stellar, you might not qualify for a credit card with a lengthy intro 0% APR offer. In that case, a personal loan might be your best option.

While it’s true you’ll pay interest on a personal loan, you’ll have the benefit of a set monthly payment and a set date by which you know the loan will be paid off. This can help you pay off your purchase in a more timely manner than a credit card, since credit cards generally allow you to make minimum payments that mostly go toward interest charges and only put a small portion (around 1%) toward the principal of your debt.

You can compare personal loan offers from numerous issuers for free at LendingTree. Plus, once you sign up, you can check your credit score for free and get tips on how to improve it.

Is the Zales Credit Card right for you?

The Zales Credit Card can be a decent option to finance your jewelry purchases, so long as you pay off your balance before the interest-free period ends. If you’re unable to pay off your balance and it lingers past the intro period, you’ll be slapped with high-interest charges. Plus, there’s an unusual promotional transaction fee on some of the special financing offers.

Rather than worry about deferred interest and extra fees, we recommend considering other options — such as a credit card offering intro 0% APR on purchases, or a personal loan.


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