Last Updated on 08/11/2017 by GS Staff
[otw_shortcode_dropcap label=”A:” size=”large” border_color_class=”otw-no-border-color”][/otw_shortcode_dropcap] No, the Kay Jewelers credit card is a retail card. It can only be used in-store at Kay Jewelers or on Kay.com.
Let’s take a look at some of the other details of the Kay Jewelers credit card.
Interest Rates & Fees
- Annual Percentage Rate (APR) for purchase: 17% to 26.99%. Varies by state and can depend on your credit. 26.99% is the APR for most states.
- Annual Fee: None
- Late Payment Fee: Up to $37 but varies by state.
Financing Offers
The benefit of the Kay Jewelers credit card is that it offers a 12 month plan of no interest. In order to receive this benefit, you must make timely payments (within 60 days of the due date) of at least the minimum due and pay the balance in full within 12 months. If you fail to do so, interest will be charged back to the date of purchase. Additionally, the offer is only available for purchases of $500 or greater with a 20% down payment.
This is a good deal if you are certain that you can make timely payments and pay the account in full within a year. However, jewelry can be expensive and coming up with a 20% down payment might be difficult for some. The interest rate is high for this credit card so you may want to consider another method of payment if you do not think you will meet the 12 month financing offer. Average credit card rates are currently around 16%, so you may be able to obtain another credit card elsewhere with a more favorable interest rate. Of course, this depends on your creditworthiness.
