The KAY Jewelers credit card is very similar to other loyalty cards. There is no annual fee to apply for the card, but you must have at least good credit to qualify. And while there is no welcome bonus for new cardholders, they can expect to receive annual perks like a $100 discount during the cardholder’s birthday month and an additional $100 discount on the cardholder’s birthday month.
The Kay Jewelers Credit Card does not have a rewards program through which you can earn cash back or points. It also helps you to get discounts every time you use it. There is nothing. However, these things don’t make it any less useful for people hoping to pay off a big purchase over time.
The card is designed to offer KAY Jewelers flexible plans when purchasing expensive items in the store. There are currently four financing plans with repayment terms that depend on the minimum amounts of your purchases: 6 months for purchases over $300, 12 months for purchases over $750, 18 months for purchases over $3,000, and 36 months for purchases over $1,500
If this possibility of high interest scares you, the 36-month financing plan is a safer option (but remember that it only applies to purchases that reach R$ 1,500 + necessary expenses). Here, you make 36 months of payments equal to a lower APR of 16.99%. After the expiration of the term, the regular purchase APR applies.
Cardholders will not pay interest on the 6, 12, and 18-month finance plans if the stock plan balance is paid in full during the action period. However, when this is not the case, the consequence of this deferred funding can be dangerous as it is not a 0% APR. A fee will be applied to your account from the date of purchase if you do not pay your plan balance before the end of the promotional period. This is something to avoid, as the APR on the KAY Jewelers credit card is 29.99%.