If you happen to’re able to pop the query, congratulations! However first, you may need to ask a unique one: How will you truly pay for the ring?
Based on The Knot’s Jewellery and Engagement Examine, the typical engagement ring prices round $5,500. Understandably, you may need to maximize a giant buy like this with the appropriate bank card.
So what’s one of the simplest ways to pay for it with a bank card? First, resolve which issue is most essential to you:
- If you wish to repay the ring buy over time: Search for playing cards with the most effective introductory 0% annual proportion price supply.
- If you wish to hit a sign-up bonus for a big inflow of factors: Search for playing cards with nice welcome provides.
- In order for you the most effective return in your buy: Search for playing cards with a strong flat-rate incomes construction.
- If you wish to be certain that 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 supply
Winner: Capital One Quicksilver Money Rewards Credit score Card
Annual payment: $0 (see charges and charges)
Rewards in your engagement ring: Earn a $200 money bonus when you spend $500 on purchases inside three 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 Capital One Quicksilver (see charges and charges), you may get 0% intro APR for the primary 15 months on new purchases beginning while you open your account (19.99%—29.99% variable APR after). Plus, that money bonus will assist offset the ring price a bit.
If you happen to use this card to buy a $6,000 engagement ring, you may have to pay at the very least $400 a month to pay that off over 15 months with out curiosity with this card. The perfect half is that you’re going to 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.
Study extra: Capital One Quicksilver
For extra choices, try our checklist of greatest playing cards with a 0% APR intro supply.
Finest welcome bonus
When selecting a card to your engagement ring, a welcome bonus generally is a nice deciding issue, as this welcome bonus can be utilized to fund your honeymoon.
Winner: Chase Sapphire Most well-liked® Card
Annual payment: $95
Rewards in your engagement ring: Earn 60,000 Chase Final Rewards factors after spending $4,000 within the first three months from account opening. This bonus is value $1,230 in line with TPG’s August 2024 valuations. Along with this bonus, you may earn one level per greenback spent in your ring buy.
Why we like it: The Chase Sapphire Most well-liked® Card is providing a invaluable welcome supply, so when you’re trying to buy an engagement ring and earn a wholesome bonus, the timing could also be good. However past incomes a strong welcome bonus, you may additionally get pleasure from quite a lot of bonus classes, a $50 annual lodge credit score for reservations made by means of Chase Journey℠ and terrific journey protections, all for an affordable $95 annual payment.
The Sapphire Most well-liked does have a purchase order safety profit that covers theft or injury to eligible gadgets bought together with your card previously 120 days, however you may solely be reimbursed for as much as $500 per declare. That is doubtless not going to return near protecting the complete value of the ring.
For extra particulars, try our full overview of the Chase Sapphire Most well-liked.
Apply right here: Chase Sapphire Most well-liked
Runner up: The Platinum Card® from American Categorical
Annual payment: $695 (see charges and charges)
Rewards in your engagement ring: Earn 80,000 Membership Rewards® Factors after you spend $8,000 on purchases on the cardboard in your first six months of card membership. This bonus is value $1,600, in line with TPG’s August 2024 valuations. Along with this bonus, you may earn one level per greenback in your ring buy.
Why we like it: If you happen to’re keen to splurge for the next annual payment in trade for added perks, The Platinum Card from American Categorical may very well be an excellent choice. It has a strong welcome bonus supply of 80,000 Membership Rewards factors, but it surely’s doable to get focused for a a lot larger bonus by means of CardMatch (supply topic to alter at any time) or by way of a referral. Not solely does this card have a wholesome bonus, however the Amex Membership Rewards factors it earns are a number of the most precious transferable rewards you will get.
The Amex Platinum has a slew of nice advantages, and one which’s notably helpful in a hoop buy is its buy safety. Whenever you pay with this card, you may be coated for injury and theft for 90 days from the date of buy. You might 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 is required for choose advantages.*
* Eligibility and profit ranges fluctuate by card. Phrases, situations 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.
Apply right here: Amex Platinum
For extra choices, try our full checklist of playing cards with essentially the most invaluable welcome bonuses.
Finest flat-rate incomes
Winner: Chase Freedom Limitless®
Annual payment: $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 may 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 doubtless will not fall right into a bonus-earning class with most playing cards, so you may need 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 when you even have the Chase Sapphire Reserve® or Chase Sapphire Most well-liked Card. Primarily based on TPG’s August 2024 valuations, this is able to enhance the worth of your factors to simply over 2 cents every.
The Freedom Limitless does supply 0% intro APR on purchases and steadiness transfers for the primary 15 months your account is open. Though this can provide you extra time to repay your buy, the APR will soar to a variable 20.49% — 29.24% 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 will probably be coated by an additional yr of prolonged guarantee safety for as much as $10,000 per declare. You will even be protected towards theft or injury 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.
Apply right here: Chase Freedom Limitless
Money-back runner up: Citi Double Money® Card
Annual payment: $0 (see charges and charges)
THE POINTS GUY
Rewards in your engagement ring: Earn 2% again (1% while you purchase and 1% while you pay your invoice) on all purchases, together with an engagement ring. Plus, earn $200 money again after spending $1,500 on purchases within the first six months of account opening.
Why we like it: If you happen to’re on the lookout for money again, the Citi Double Money® Card (see charges and charges) is one other nice choice with a strong flat-rate return on all purchases. It does not include an introductory buy APR supply or buy protections just like the Chase Freedom Limitless, but it surely does not cost an annual payment and comes with a greater cash-back return if you do not have one other Chase card to pair with the CFU.
For extra particulars, try our full overview of the Citi Double Money.
Apply right here: Citi Double Money
Journey rewards runner-up: Capital One Enterprise Rewards Credit score Card
Annual payment: $95
Rewards in your engagement ring: Earn 75,000 bonus miles when you spend $4,000 on purchases inside the first three months from account opening. As well as, upon opening your account, you may obtain a one-time $250 credit score for Capital One Journey — which is legitimate for one yr. This supply ends Sept. 9. This bonus is value $1,639 in line with TPG’s August 2024 valuations. Plus, earn a limiteless 2 miles per greenback on each buy, together with an engagement ring.
Why we like it: The Capital One Enterprise Rewards Credit score Card is one other card with an excellent flat-rate incomes construction. Whereas the cardboard does include a $95 annual payment, you may additionally get a strong sign-up bonus, prolonged guarantee safety and the flexibility 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.
Study extra: Capital One Enterprise Rewards Card
For Capital One merchandise listed on this web page, a number of the above advantages are supplied by Visa® or Mastercard® and should fluctuate by product. See the respective Information to Advantages for particulars, as phrases and exclusions apply
For extra choices, try our full checklist of greatest cash-back playing cards and greatest journey rewards playing cards.
Finest for buy safety
Winner: American Categorical® Gold Card
Annual payment: $325 (see charges and charges)
Rewards in your engagement ring: Earn 60,000 bonus American Categorical Membership Rewards factors after spending $6,000 in your card within the first six months of account opening. Plus, obtain 20% again in assertion credit on eligible restaurant purchases (as much as $100) inside the first six months of card membership. This bonus is value $1,300 in line with TPG’s August 2024 valuations. You will additionally earn 1 level per greenback in your engagement ring buy with this card.
Why we like it: In order for you a card that gives nice buy safety however aren’t able to pay the Amex Platinum‘s hefty annual payment, the Amex Gold Card is a superb choice. Similar to with the Amex Platinum, you may be coated for injury and theft for 90 days from the date of buy. You might 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 fluctuate by card. Phrases, situations 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.
Apply right here: Amex Gold
For extra choices, try our favourite playing cards with buy safety.
Backside line
An engagement ring might be one of many greatest purchases you may make, so consider carefully about which card you may use when the time comes. Be sure to select a bank card that is greatest suited to your buy priorities, and have a plan to repay the steadiness earlier than you get hit with curiosity on this massive buy. If you happen to observe our recommendation, your rewards steadiness will sparkle nearly as a lot as the brand new ring while you pop the massive query.
Associated: Probably the most romantic all-inclusive honeymoon resorts around the globe
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.
