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Does James Allen Offer Financing? (How Does It Work?)

Are you thinking whether James Allen will offer any kind of financial support or a loan when you purchase jewelry from them?

Congratulations! You have landed at the correct place!

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In this article, we are going to look at:

  • Financing program at JA
  • Credit card options at JA
  • Monthly payment plans available

Let’s start! Shall we.

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Does James Allen offer any loans or Financing to buy jewelry?

James Allen offers a variety of financing options for different kinds of payment methods you choose to buy the jewelry of your choice. However, these financing options will depend on credit approval and have various restrictions.

The credit lines at JA go to the LJC credit card financing program and entirely depends on the company’s terms and conditions.

Read Here: The Best Online Shops to buy Engagement rings

How much does the retailer offer?

At James Allen, you get the chance to defer the interest on your jewelry if you pay the full amount in the first six months after the day of purchase.  If the whole amount is not paid in six months, the accrued interest will be credited to your account. However, this financing option is only limited to items costing $1000+.

Keep in mind that for you to stick to this payment plan, you must pay monthly. The amount you agree for monthly payments will not clear the balance or time. To escape the interest charged at the tail end of six months, you will need to pay more than the amount agreed to be paid monthly.

What is the interest rate?

The interest rate charged for this program follows the standard APR rate. If you are buying jewelry for the first time, or your account is still new, the purchase APR may go up to 29.99%. The standard APR rates will go down for accounts that are old or have good standing. Good standing is determined by the account’s credit history and the discussions between the buyer and the crediting team at James Allen.

What are the requirements?

To qualify for this financing plan, you must buy jewelry worth more than $1000. To add to that, you must have a good credit standing for your James Allen account. With a new account, you may need extraordinary credit for you to be allowed to sign up for the LJC credit financing card program.

If you have a JA account that is in good standing, you get the chance to change the financing plan to one that is favorable to you and argue for a more favorable APR rate or for the period to be extended. However, this is a strategy agreed upon between James Allen and the customer and cannot be officially counted on.

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How do you sign up?

Visit the Financing Page on the James Allen website to sign up for this financing option. After you have applied, you will receive a notification and a card instantly in your mail. Once approved, you can start using the credit line given to you by James Allen as soon as possible or in the future.

Does James Allen offer a Credit Card?

James Allen on its own does not provide company credit cards but has a financing option through LJC credit card plan.

This credit card program from LJC offers the plan with several jewelry stores to give customers a more flexible financing option. Many certified jewelry retailers in the USA are eligible for this program.

Read Here: How to avoid Sales Tax when buying Jewelry from James Allen

You will get a credit card via the above-mentioned plan through James Allen. The card given to you is unique and your shopping account and can be used the same way a usual credit card would, as long as it is in person.

How much credit is offered?

The upper limit on the LJC credit card you will get is not restricted, but there is a minimum limit required for the card to be used. The lower limit ranges from $1000 to $2000.

This means the card cannot be used to buy any jewelry whose price tag is less than $1000.

However, the LJC credit card can be used for smaller financing options or purchases. This makes it easier to build your credit trustworthiness and account history at JA. Customer relationships built using this approach result in better APR rates for other financing options. You also get the benefit of doubt in case you do not remit your payments in time.

What is the interest rate?

The standard interest rate is 29.99% but may vary sometimes. The interest rate will shift downwards if you buy your engagement ring using the James Allen card and make payments for the item on time.

Another option provides an APR of 9.9% and a 24-month payment plan. This plan however calls for jewelry purchases not less than $2000. You will read more about this option below.

Read Here: Where is the best place to buy a man’s wedding ring?

What are the requirements?

To start with, you must have a high credit score for LJC to approve you. Your account at James Allen must also be in good standing. Getting approval with a new account is not easy, not just with JA but other reputable jewelry stores too. It is also hard to be approved if your credit history is not extensive.

There is a high likelihood of being approved if your jewelry budget is at the $1000 estimate if you apply in your life or at the time, you are starting the relationship with JA.

How do you sign up?

To sign up for this financing option, go to the same page that James Allen has for financing options.

Are There Any Monthly Payment Plans At James Allen?

James Allen has payment plans for any type of jewelry that costs $2000 and above. The monthly payment plans are operational with the LJC credit card offers as mentioned earlier. Therefore, you need to be allowed to apply for the card before the plan is offered to you.

How much do you pay per month?

How much you pay per month for this financial plan must be similar to the purchase amount and interest estimated for the payment period divided by the number of months for the offer. For this offer, it is 24 months. The final payment may be higher because of rounding off. The deal will be negotiated such that all payments made on time will clear the balance throughout the 24 months.

If you would like to shorten the period you will be indebted to James Allen, you can pay higher than the amount required. Any payments made in advance still consider the approximate interest that would accumulate if you pay in the normal 24-month calendar period. Paying in advance does not mean you will avoid the interest amount that you agreed to according to the terms and conditions.

What is the interest rate?

For the 24-month payment period, the APR interest rate is 9.9% only if you adhere to the 24 monthly payments and pay on time. The standard APR is 29.99% and may go up if you do not pay on time. The interest rate is very strict for new James Allen accounts and may get a high APR for the plan if payments are not made on time.

What are the requirements?

In general, just like all the other plans, you will need good credit and a good standing account. New accounts must have good overall credit compared to the accounts that have a favorable relationship with JA already. The credit should also be better than those who have bought jewelry using the LJC credit card before and paid all the installments on time.

How do you sign up?

Remember the James Allen Financing Options page? Where you sign up for this plan that same place. When you sign up for a credit card, you get to enjoy various financing options including the ones discussed above. You also get the opportunity to choose the one you want depending on the total amount of purchase or the plan that is most budget-friendly for you.

 

 

 

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