Post # 1
My SO and I were talking tonight, and the topic of the possibility of a discount for cash purchase came up. Has anyone’s SO or themselves received a cash discount when buying their engagement/wedding ring or other expensive jewelery?
Post # 3
I cannot speak to the answer that you’re seeking. However, the jeweler where Darling Husband purchased my platinum and diamond e-ring setting, my platinum and diamond wedding band, and my center-stone diamond (and, where I later purchased his platinum wedding band) offered significant discounts based on the fact that we purchased all of those items from that same jeweler.
Post # 4
Not for jewelry, but I got a cash (check) discount for nearly all of my vendors. If they give you the option to use a credit card, they should at least be willing to do around a 3% discount just because they don’t have that in credit card fees. One of my vendors offered a FIFTEEN percent discount for paying by check instead of credit (I thought that was sort of crazy!). I did have to ask in all cases for it though. Really easy, just ask “Is there any discount if I paid by check or cash rather than credit card?”
Another thing I got a discount for (and you’d have to really feel good about the vendor to do this) is 10% off for paying for my photographer in full up front instead of just putting down a deposit. Only do it if you trust the person and have a great contract. But the reality is, at least in my area, most balances are due BEFORE the wedding anyway (anywhere from 21 – 7 days). So it’s not like you’re holding out a portion in case they don’t do their job well, they still have to be paid mostly in full before they deliver services anyway.
Post # 5
@Brielle: This is a good idea – I’ll keep it in mind when I’m look at engagement rings and check out what wedding bands they have as well
Post # 6
@NAvery: Wow, 15% is crazy! We figured at least 3% for exactly what you said – we’re saving them the CC fees so it’s all the same for them in the end. We’re saving pretty well for the wedding already, so hopefully we’ll be able to pay all in cash/check for vendors, and up front like you said for those we trust.
Post # 7
While the discount is great, as PP did mention, be 100% certain that you trust your vendors. My friend paid a cash deposit on her dress at a local boutique (which they gave her a 3% discount for doing cash). Unfortunatley, the shop closed down 2 months later and she still did not have her dress yet! They went out of business and did not refund her deposit. I have read of similar stories happening and the only secure way is to credit card deposits because many companies protect you against purchases that are not fulfilled.
Post # 8
I’m kind of in the middle. When Darling Husband bought my ering he paid by bank wire/transfer, which is basically cash. If he wanted to pay with a credit or debit card he would have been charged an extra 3 or 4%, which would have been $350. Basically he would have been charged part of the fees the merchant services charges the vendor. He found it worth while to pay in cash and we have had no issues at all 🙂
Post # 9
Keep in mind that there are some advantages of paying with credit card, even if you don’t get a discount or your vendor/merchant charges an additional credit card fee. Primarily, credit cards offer their own purchase protection that cash doesn’t, and while this will vary from card to card, all of them give you a HUGE advantage if you have a dispute.
If your wedding vendor or jewelry store goes bankrupt without delivering what you paid for, and you’ve paid by cash, you get in line behind all the other unsecured creditors, and if you ever get your money back, it’s pennies on the dollar. If you’ve paid by card, you dispute the charge, fill in a credit card form, and the credit card company reverses the charge. You get your money back, and it’s on the credit card company to go fight the merchant to get THEIR money back. To me, this is well worth the extra cost or loss of discount when it comes to a high-dollar item that I don’t get to walk right out the door with. If you pay your credit card right off, you don’t pay any interest but you do get all of that purchase protection.
Also if you are using a rewards card and know how to play the rewards games, the points you earn will be more valuable than the discount. Amex is a good example, because their points transfer to all sorts of travel vendors. But you need to know your rewards program really well before deciding if $150 in discounts on a $5k purchase is worth more, or less, than however many points you’d get for it.
Post # 10
You can typically get a discount if you pay by bank wire transfer, as well.