(Closed) So he was approved for financing? Advice!

posted 6 years ago in Waiting
Post # 3
Member
523 posts
Busy bee
  • Wedding: August 2014

It depends… he could have just went and got approved and didnt buy the ring or when he was there he seen the ring and decided to use financing to buy it! And yes he could go and not buy my SO has done that and mentioned that he needed to go back hopefully this time to actually buy my ring!

Post # 4
Member
2606 posts
Sugar bee
  • Wedding: September 2011

I believe most jewlery stores give you a store credit card through a finance company for purchases like this, it’s not a traditional “loan” so ordinarily there is an actualy purchase in the works in order to go through the qualification process.  This does not 100% mean he bought the ring though, they could have just processed his application with a purchase price in mind and qualified him with a credit limit of an amount high enough to purchase the ring he has his eye on.

Post # 7
Member
8041 posts
Bumble Beekeeper
  • Wedding: December 2013

@sa.to.sb.soon:  It depends. If he’s a financially responsible type then he wouldn’t open a random credit card unless he seriously planned on using it.

I’d say this is a good sign.. even if he hasn’t bought the ring yet, he probably will soon.

Post # 8
Member
523 posts
Busy bee
  • Wedding: August 2014

@sa.to.sb.soon:  They really do need to stop. I know mine does not have the ring yet but hopefully soon we had a very intense wedding convo yesterday I told him we are both ready so whats the hold up! lol I was a little antsy but your SO is def dropping those hints!

Post # 10
Member
529 posts
Busy bee

Sometimes when you open the card they give you a deal if you spend money right then…like open a card and save x percent on today’s purchase. just saying… 🙂

Post # 11
Member
523 posts
Busy bee
  • Wedding: August 2014

@sa.to.sb.soon:  UGHHH MEN!! But like someone mentioned if he was approved normally they give you adiscount when they buy that same exact day!

Post # 12
Member
2831 posts
Sugar bee
  • Wedding: May 2014

He may have just been approved. It is like a regular credit card. So He could have been approved but not bought a ring. But I don’t think he would try to get approved at this specific jewlery store unless he was going to buy something or knew what he was going to buy. 🙂

Yay! Good luck!

Post # 14
Member
529 posts
Busy bee

@sa.to.sb.soon:  I keep thinking that my SO is going to propose soon based on things he is saying but he has the lack of weird moods thing and he has been worried about money because he just bought a furnace for his house so I don’t think he is buying a ring but he is dropping hints all the time. It is enough to make you lose your mind isn’t it??

Post # 15
Member
3885 posts
Honey bee
  • Wedding: September 2011

OP, I’d tell my SO to shop within a budget that he can pay for with the money he already has saved. jewelry stores are notorious for charging really painful interest rates, tons of hidden fees, and the worst is their teaser 0%-for-12-months financing because so many people don’t get the balance paid off in time, and they will apply ALL the interest retroactively to the balance.  Or put it on a credit card as long as the card charges reasonable interest. There is no reason you should start your engagement with him carrying a balance at 27% APR or worse. You will both bleed money between now and your actual wedding, so it’s really hard to make sure that that balance will get paid quickly, no matter how much you intend it to happen.

Post # 16
Member
7311 posts
Busy Beekeeper
  • Wedding: October 2011 - Bed & Breakfast

I agree with @fishbone:. I know this must be terribly exciting for you, but do you really want to start your journey to marriage with unnecessary debt? I mean, it’s one thing to charge the purchase on a cc to get the points and then pay it off that month, but it’s another thing to take on debt that will require months or years of payments just so you can have something sparkly on your finger. Getting engaged is a huge step, and I encourage you and your Fiance not to make it a step into unnecessary debt.  Either way, best of luck to you!

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