Diamond Ring... biting the bullett

Discussion in 'General Discussion | Credit Cards' started by tulane09, Feb 5, 2013.  |  Print Topic

  1. tulane09

    tulane09 Silver Member

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    So I'm about to take the plunge and buy a ring for my girl. I was wondering people's experiences with using credit cards (prob amex PRG for consumer protection and contributing to $30k spend) vs cash discount?

    I hear from a lot of folks that cash discount supersedes any bonuses from credit cards. Wondering if this is true? The ring is going to be in the $10-15k range, so its a lot of points.

    I could even do blue nile for 6x UR pts with Chase. Unfortunately online shopping takes away a lot of my bargaining power on the purchase price.

    Anybody have any thoughts or care to share experiences?
     
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  2. youpaiyou

    youpaiyou Silver Member

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    Blue Nile is great. I bought a ring from them and it was appraised for a lot more than what I paid.
     
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  3. Wandering Aramean
    Original Member

    Wandering Aramean Gold Member

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    Yes. If you do Blue Nile and Chase your budget has you maxing out around 90k points. My guess is that you can save $1500 easily with local negotiations from that starting point if you have access to a reasonable collection of jewelers.
    Which only matters if you're going to sell it or if you want to pay more in insurance premiums for a replacement value policy.
     
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  4. servo

    servo Silver Member

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    In that price range, you should easily be able to reduce your cash price and pay with a miles earning credit card doing face-to-face as Wandering Aramean said. Saving the money AND earning some miles is likely better than not saving the money and earning a ton of miles.
     
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  5. TravelBear

    TravelBear Gold Member

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    So glad i cant get married! Thats a lot of money to drop on a ring!
     
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  6. jwsky
    Original Member

    jwsky Silver Member

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    and then there is Costco. You can buy in store with an Amex card or on line with another card. No extra points, but they will let you return your on line purchase at the store if it does not please.
     
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  7. malikguy

    malikguy Silver Member

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    Congrats on taking the plunge!
     
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  8. StartInSanDiego

    StartInSanDiego Silver Member

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    How about this: Use your points to take a trip to the Los Angeles jewelry district and buy the ring wholesale. Or buy a stone and a setting of your choice. Prices are usually about 50% of appraised value.

    There are HUNDREDS of vendors there, with sparkly stones like confetti. Literally stones by the handfuls. I swung by the mart on my way to the FTU in LA last December. I bought a beautiful gold necklace... she put it on the scale and told the wholesale price... $295, no tax. SAME necklace on QVC-- $950. Ebay also about 900.
     
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  9. Deal2020

    Deal2020 Silver Member

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    Congrats! If you have any chance go to Asia then buy the ring in hongkong, very low price and no tax. You may just bring your girl there for a nice vacation and buy the ring.
     
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