Engagement Ring
Wedding

How to Finance an Engagement Ring With Poor Credit History

Some occasions are the most memorable and momentous days in the life of individuals. And this includes weddings which unite two individuals in a journey that is filled with bonding, love and care. One of the highlights of any marriage and engagement ceremony is the exchange of rings and exchange of vows. The ring is the symbol of marriage across geographical locations and many individuals often go to great extents to ensure that they have the best ring in place. However, for many individuals this becomes very challenging. The lack of financing options may sometimes force individuals to look at impractical options of getting a wedding ring funded.

How To Get Finance For A Wedding Ring

Get Finance For A Wedding Ring
While some individuals may have a healthy bank balance, some may not have a lot of money in savings. As a result it may be possible that individuals are forced to look at other options for funding for wedding rings. This may become more difficult if you do not have a very healthy credit rating. If your ratings are poor then you may not be in a position to easily avail a loan for purchasing a wedding ring. The past may come to haunt you and your poor repayment history may come in the way of a financing option. If the question foremost on your mind is How to finance an engagement ring with poor credit? then you have reason to dismiss apprehensions. Payday loans are also good options to avail financing for wedding ring even if your credit history is poor.

Do Not Fall Into A Debt Trap

Debt Trap
Many individuals often end up in a debt trap because of a poor decision. For instance, APR credit may appear to be a very good decision. However, you run the risk of finding yourself entering into a debt trap if you opt for APR credit. To put it differently. Imaging that you avail a loan extended by a jeweler with APR credit. While the loan may be packaged as interest free, it is important to know that it is interest free only if you repay within a certain period. In the event that you are unable to repay within that period, you may end up having to pay interest from day one and that will be a very steep rate.

Additionally if you choose to make a purchase through credit cards, the value of the purchase may more or less utilize your buying limit, leaving you with very little buying capacity, till you have repaid the entire outstanding amount in full.

Balance Your Purchase In A Manner So As To Make It Practical

Purchase
The rig that you purchase needs to be a good one. However, it is not necessary to be carried away with designs and materials that make the rings exorbitantly and prohibitively expensive. Therefore make a wise choice and pick a ring that suits your esthetic requirements and one that actually fits into your budget or repaying capacity easily.