Yes, buying jewellery with the help of a credit card is perfectly fine. It is even advantageous as you’ll possess an asset at the moment and will have some time in your hand to make the payment. Using a credit card to buy jewellery is the best option when the rates fall and you don’t have enough cash to buy the jewellery or in case you have a speculation that the rates of gold will increase. If you don’t make use of credit card to use this golden opportunity, you’ll regret it when the prices actually rise. There is some risk involved obviously because no matter what, there is always some percentage of possibility that you’ll face loss.
To solve this problem you must be prepared to pay the credit cash that you used for buying gold. Also, the loss is not permanent. See it as a long term investment. You can always regain the loss in the future that you might face today. There is also a possibility that the prices may rise in the future to a certain degree that you’ll gain huge loads of profit. History speaks for itself and we’ve seen that gold never disappoints you in the long run. It may fluctuate on a daily basis but when it comes to 10+ years of difference, gold nails it.
When you plan to buy a jewellery ornament, you must look for a genuine, trustable and verified seller like Hatton gardens jewellers.
Some sellers also provide EMI options for jewellery purchase. With the help of EMI, you can divide the cost of the ornament on monthly basis. The number one thing you need to look for when taking EMI loan is the rate of interest. You can compare the rate of interests provided by different sellers and boil down the lowest. But the lowest is not always the best, gather some information about the quality of service the seller provides which includes easy transactions, no additional or unnecessary charges, etc. Generally, if you divide the payment in a lesser number of milestones, the rate of interest you get to pay is lesser compared to a longer period of pay-gap.
For example, you’ll have to pay monthly according to 14% per annum with the principal amount stretched across 12 months whereas if you decide to complete the purchase in a shorter duration, let’s say 9 months, the lender may decrease the rate of interest to 10% per annum. This was just an example used for the sake of better understanding. Different lenders and banks charge differently.
You have a variety of options when looking for jewellery. It totally depends upon the purpose of your purchase. If you’re buying gold as an investment, styles and designs become irrelevant. But if you’re planning to buy something memorable, Engagement rings in Hatton Garden are the thing for you. They have lots of beautiful designs and options.
Conclusively, buying jewellery with a credit card is actually a good option.
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