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Diamonds may be a girl's best friend, but the Zales Diamond Credit Card shouldn't be anyone's best buddy. This card comes with a sky-high interest rate and few benefits. It also can't be used anywhere other than a Zales jewelry store or online at Zales.com.
In short, there's no compelling reason to apply for this credit card. There are many other credit cards we've reviewed that offer better intro APR financing offers, in addition to their rewards programs.
Cardholders can only use the Zales card at Zales jewelry stores, outlet shops or Zales.com to make interest free purchases. The length of your no monthly interest period will depend on the amount of your purchase and the amount you put down on the purchase.
That makes this an extremely limited credit card. The high interest rate and relatively skimpy benefits that come with it make the Zales card a tough sell. Even for those cardholders who purchase a lot of jewelry, the Zales card offers little.
How the Zales Diamond Card Works
Cardholders can use the Zales card to purchase any merchandise from Zales retailers. The card does offer holders the opportunity to manage their account online. It also provides protection from unlawful purchases.
Travel and Shopping Benefits
The benefit that Zales touts is that its card allows consumers to skip on paying interest for any purchase of $300 or more for six months. Consumers won't be charged interest as long as they pay off their purchase in full during this time. Because jewelry purchases tend to be pricey, this offer may entice some consumers. The card also offers $0 liability on unauthorized purchases.
The interest rate is where the Zales card falls flat; at 26.99 percent, it's simply too high. Many standard consumer credit cards feature penalty interest rates that are nearly at that level. Other fees are fairly standard: Cash advances cost $10 or 5 percent of the amount of the advance, whichever is higher. Late fees run from $15 to $39 depending on cardholders' balances. And returned payment fees run $39.
The Bottom Line
- No interest on purchases of $300 or more for six months
- $0 liability on unauthorized purchases
- High interest rate of 26.99 percent
- Can only be used for Zales purchases
- Lates fees of up to $39
We cannot recommend the Zales Diamond Credit Card. If you are looking for introductory 0% APR financing, we recommend checking out another card. Many card today are offering intro financing offers that are more generous to those offered by Zales, in addition to their regular rewards program. So why not getting better financing and better rewards?