Financing Jewelry With Bad Credit


Financing Jewelry With Bad Credit

Bad credit can feel like it’s stopping you from buying what you want, but it shouldn’t be the reason you can’t buy the jewelry you love. There are always options, even if you have bad credit.

Find out more about how you can get jewelry financed even with bad credit.

What Is Bad Credit?

Everyone is given a score with a range between 300-850. While there is no official rank of what is good or bad credit, there are some general guidelines that most lenders recognize.

  • 720 or higher - Excellent credit
  • 690-719 - Good credit
  • 630-689 - Fair credit
  • 629 and below - Poor credit


The score represents how much of a potential risk you are to a lender. If you have a low credit score, that means there is a higher chance you might make late payments or entirely miss your payments.

Your credit history determines your credit score. Six key parts of your financial history determine your final credit score.

Payment History - If you have skipped payments or make payments late, this negatively affects your score. If you have made it a habit to make payments on time, it will help raise your credit score.

Amounts Owed - Having credit will not automatically lower your credit. This part of your credit score weighs how much outstanding credit you have versus your income. If you are using a majority of your available credit, it could mean that you are overextended and can be at a higher risk of default.

Length of Credit History - A longer history of credit will increase your credit score. If you are new to the market and have no credit history, you pose a risk to lenders because they don’t know what to expect if they lend you money.

Credit Mix - Part of your score is determined by your mix of credit cards, retail accounts, installment loans, finance company accounts, and mortgage loans. It is not necessary to have one of each, but having different accounts can highlight your ability to manage different types of credit and improve your score.

New Credit - Opening several lines of credit in a short amount of time presents a greater risk. If you don’t have a long credit history, avoid opening too many accounts too rapidly, or else it can damage your credit.

Can You Buy Jewelry With Bad Credit?

You can! Financing options can cover jewelry purchases. Officially, there are no credit score cutoffs for many types of financing. However, lenders may not take the risk of lending to a person with a low credit score in fear that they will never be paid back. To offset this risk, some lenders will provide subprime financing rates to consumers with low credit scores.

Subprime financing rates and terms might be more stringent. They can come with high-interest rates, shorter repayment schedules, and additional fees. However, some options for financing are always better than having no options at all.

How Can I Get Financing?

If you are looking for financing, a credit jeweler can make that a reality. Some jewelers, like Daniel’s Jewelers, offer their own financing plans and don’t require you to use a credit card or an outside lender. We manage our own financing plans. That gives us the ability to approve customers with bad credit for financing.

Why Use Financing to Buy Jewelry With Bad Credit?

As long as you know that you’ll be able to make payments on time and still meet other financial obligations, choosing to use financing can improve your credit. Financing jewelry with bad credit can help you manage your credit score while getting the jewelry you want.

Customized Credit Options

Not only is our jewelry affordable, but Daniel’s Jewelers approves around 99.7% of all our applicants. We work to find a custom plan for almost any situation no matter if you have excellent, good, fair, or poor credit. Our financing options make it easier for you to afford the jewelry you need.

Apply today to have custom credit options with fixed monthly payments no matter what your credit score is.

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