Wondering if James Allen's offers any type of financing or loans to you buy jewelry?
Perfect, you're in the right place!
In this guide I cover:
- James Allen's Financing Program
- All The Credit Card Options You Have With James Allen
- And The Monthly Payment Plan Options You Have
Let's jump in!
Does James Allen Offer Financing or Loans to Buy Jewelry?
James Allen does offer financing options between several payment methods to ensure that you’re able to purchase the jewelry you need on time for your big day or an upcoming holiday. These offers are subject to credit approval and have several different restrictions.
The lines of credit offered by James Allen come to the LJC credit financing card program and is subject to that company’s terms and conditions.
How Much Is Offered?
The first financing option for James Allen allows you to defer your interest on a piece of jewelry if it’s paid in full within six months of the purchase date. The interest accrued since the purchase date will be charged your account if the entire balance isn’t paid in full by the end of the six-month period. This is limited by a minimum purchase requirement of $1000 or more.
It should be noted that you must make monthly payments to adhere to the terms and conditions of this plan, but the monthly payments agreed upon will not pay off your balance and time. You will have to pay larger than your agreed monthly payment in order to avoid the interest fee at the end of the six-month period.
What Is The Interest Rate (If Any)?
The interest rate for this plan follows a standard APR rate. For new accounts, the standard purchase APR goes up to 29.99%, while older accounts that are in good standing may have lower standard APR rates. This is determined to view your credit history and discussions between yourself and James Allen’s crediting team.
What Are The Requirements?
You must make a purchase of $1000 or more to be able to apply for this financing option. In addition, your credit must be in good standing in your account with James Allen must be in good standing. Those who have new accounts with James Allen will need to have extraordinary credit to be approved for the financing plan.
Those with accounts in very good standing with James Allen may be able to modify this financing plan to a degree and negotiate for a better APR rate or a slightly longer grace period before interest must be paid. This is not officially cannot be counted on but is rather something agreed between the customer and James Allen itself.
How Do You Sign Up?
You can sign up for this financing plan by visiting the James Allen financing page. After applying, you will generally receive notification very quickly and receive a card in the mail. If you have been approved after application, you can use the credit line granted by James Allen immediately or at some point in the future.
Does James Allen Offer A Credit Card?
James Allen does not offer a company-specific credit card but rather offers financing options through the LJC credit card program.
The LJC credit card program works with multiple different jewelry retailers to allow customers flexible financing and payment options. It’s available to many eligible dealers throughout the United States.
Read Also:
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This card is the one you’ll receive if you finance through James Allen in the offer described above. The card will be unique to you and your account and can be used in person at a James Allen store in the same way that a normal credit card would be.
How Much Credit If Offered?
The James Allen LJC credit card does not offer a strict upper limit on the amount of credit you can take out, although it usually applies a minimum purchase requirement necessary to use the car. This is generally between $1000 and $2000.
This means that you can’t use the James Allen financing options for smaller purchases that are worth less than $1000.
However, you can use the LJC credit card for smaller purchases or financing options; this is a good way to build both credit in general and account history with the James Allen company. Building a good relationship in this way will give you better APR rates for either of the other two financing options and afford you more benefit of the doubt if you fail to make your payments on time.
What Is The Interest Rate (If Any)?
The interest rate is variable that generally hovers around 29.99% as a standard APR rate. This rate may be lower as you purchase jewelry through the James Allen card and pay off your purchases on time.
A secondary option offers 9.9% APR with 24 monthly payments, although he requires a $2000 minimum purchase. We’ll get into that option with more detail down below.
What Are The Requirements?
Your credit score must be high enough to be approved by the LJC credit company and your James Allen account must be in good standing with James Allen themselves. It’s harder to be approved for the card with a new account with you James Allen or other jewelry stores, or if you don’t have an extensive credit history already.
Those trying to purchase jewelry around the $1000 mark will be more likely to be approved for the card if they are applying early in their lives or in their relationship with the James Allen company.
How Do You Sign Up?
You can sign up for the James Allen card on the same page that you look into the various financing options offered by the company.
Does James Allen Offer Any Monthly Payment Plans?
James Allen offers a 24 monthly payment plan for purchases that are at a minimum of $2000. This monthly payment plan revolves around the LJC credit card that we discussed above and so requires you to be approved for the credit card before you can be offered the payment plan.
How Much Can You Pay Per Month?
The monthly payment amount for this plan must equal the purchase amount and estimated interest for the length of the offer divided by the number of months in the offer. In this case, it would be 24 months. The last payment may be higher or greater due to rounding. The deal will always be generated such that on-time payments will pay the offer balance in full throughout the entire 24 months period.
You can pay higher than your required payment if you want to lower the amount of time that you are indebted to James Allen. However, any advance payments must still take into account the estimated interest that you would accrue should you pay your payments according to the regular 24-month schedule. You cannot pay in advance to escape the interest amount agreed to in the terms and conditions of the deal.
What Is The Interest Rate (If Any)?
The interest rate for this 24-month plan is 9.9% APR provided that you stick to the 24-month payment plan and make your payments on time. The standard purchase APR is 29.99%, and your APR may increase if you fail to provide your payments on time. Newer accounts with James Allen will face stricter scrutiny and a higher likelihood of receiving an unfavorable or higher APR for their payment plan if they fail to pay on time.
What Are The Requirements?
You are required to have good credit in general and have an account that is in good standing with James Allen to be approved for the credit card and for the payment plan altogether. Newer accounts will require better overall credit than accounts that have already established a good relationship with James Allen or who have used the LJC credit card in the past and paid all of their debts on time.
How Do You Sign Up?
You can sign up for this payment plan from the same James Allen financing page that we referenced above. Essentially, signing up for the credit card gives you access to all of the different financing options that we discussed and allows you to choose between them depending on your purchase total or what plan makes the most economic sense for you at the time.