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A Guide to Engagement Ring Financing

Every single piece of diamond jewelry made by Agape Diamonds is manufactured with the highest quality materials and finished by artisan jewelers, ensuring that their customers get nothing short of the fine jewelry they deserve. And because Agape sells its jewelry straight to the customer without having to go through a jeweler, customers pay two to three times less than at other jewelry stores.

However, sometimes even a wholesale diamond industry purchase is out of reach for customers, and instead of purchasing a stunning diamond engagement ring, they choose to opt for something more affordable like cubic zirconia, which is significantly different in clarity and quality to the naked eye when compared with a natural diamond or a lab diamond. Needless to say, high-quality items from the jewelry industry don't always make the final wish list. 

But choosing a cheaper and less durable gemstone isn't a customer's only option. Sometimes, you can still get the best diamond for your buck. If you want to make a perfect choice as well as the ethical choice, consider some of the natural, synthetic, and lab-created diamond fashion rings created by Agape Diamonds if you're looking for the perfect engagement ring. 

Agape Diamonds offers financing on all of their diamond jewelry, so customers can make budget-friendly payments and experience less financial stress on their special moments.

Consider alternative options.
If you're only browsing some of the United States' top-tier designer collections, you could be selling yourself short. It's always a good idea to look for promotions and discounts. Often, you can find promotional discounts if you purchase a certain product before a sale ends. Other times, promotional discounts will apply to future purchases.

In some instances, it may be better to purchase loose diamonds that you can then set in a band made of white gold, sterling silver, or another quality material. On top of that, you can consider lab diamonds. Lab-grown diamonds, or lab-created diamonds, are one of Agape Diamonds' specialties. As opposed to mined diamonds, lab diamonds have near-identical physical properties and optical properties without the extreme pressure of a high price tag.

Lab-created diamond rings are crafted in a sealed chamber or vacuum chamber with a combination of heat and high pressure. This high-pressure-high temperature method was originally developed for industrial use but now factors into top designer collections. By using chemical vapor deposition from the high temperature and pressure, you get an end product with a lower resale value than natural diamonds but a much lower purchase price. With similar chemical properties, these gems are nearly indistinguishable from natural diamonds and are also much more ethical for the United States jewelry industry.  

What is jewelry financing?
Jewelry financing is simple—the customer makes their diamond jewelry purchase, then, depending on the customer's credit history, they can choose to pay through Affirm and make payments to split their purchase into 3 to 12 more affordable installments.

What is Affirm?
An alternative to credit cards and personal loans, Affirm lets you finance large purchases from certain retailers at the time of purchase. Interest rates on Affirm loans range from 10 percent to 30 percent, and repayment periods can be three months, six months, or 12 months. While credit cards and personal loans have a prepayment penalty, Affirm does not. This means that if you pay off your loan before your final due date, you only pay the interest that has already accrued, and not what would have accrued over the course of your original repayment schedule.

How do I get started?
First and most importantly, you have to choose your engagement ring. Agape Diamonds offers a wide variety of synthetic diamond rings and custom engagement rings. These synthetic diamonds are crafted to be nearly flawless, which means they have the same clarity and sparkle as natural diamonds but come at a much lower cost. If you would rather get a ring set instead of just the single engagement ring, Agape offers matching wedding bands for most of their diamond engagement rings.

Once you've selected your ring or ring set, it's time to begin your checkout purchase!

What information does Affirm need?
After you've entered your information and selected your shipping method (Agape always offers free shipping, but you can get your jewelry purchase even faster for an extra fee), move on to your payment method. Instead of entering your credit card or PayPal information, choose the "Financing / Monthly Payments" option with Affirm.

Your Affirm account is created using your name, email, phone number, birthday, and the last four digits of your social security number. This combination of information helps Affirm verify and protect your identity. When you first create this account, Affirm performs a credit check to help verify your identity and determine your eligibility for financing based on your credit history. This "soft" credit check will not affect your credit score.

Affirm may also ask you to link your online checking account information, which helps determine your ability to repay a loan if approved. This does not give them access to your account. It only helps them determine if you have the financial ability to pay off your loan.

If you are approved for a loan through Affirm, you will be notified immediately. This means no waiting around for approval, and gives you the ability to continue with your purchase right away.

Which loan is right for me?
Once you are approved for financing, Affirm will give you the option to pay your loan in three, six, or 12 monthly payments. The right choice for you depends on your budget, but if you pay off your loan before your final repayment date, you will not be charged the extra interest, as stated above.

Affirm's loans can offer you flexibility and control over your budget and repayment schedule. Their rates vary from as low as 10-30% APR based on your credit history, but your actual rate will be shown at checkout upon approval.

What happens if I'm not approved for jewelry financing through Affirm?
Affirms tries hard to approve every purchase, but sometimes they can't approve the full amount. If you are not approved for the full amount, Affirm provides a debit card down payment option so that you may still complete your diamond jewelry purchase immediately.

If you aren’t approved for any amount through Affirm, you will need to make your purchase with your debit card or using another payment method. no matter if you're purchasing real diamonds, diamond simulants, synthetic diamonds, or lab-created diamond rings.

How do I make a payment on my loan?
Before each repayment date, Affirm will send you an email or SMS reminder with the upcoming payment amount and due date. You also have the option to sign up for autopay, so you don’t risk missing a payment. You can pay your Affirm bill or sign up for autopay at www.affirm.com/pay. Affirm accepts payment by debit card, bank transfer, and check.

Can I change or refund my purchase after approval?
You cannot change your order after you have been confirmed for a loan through Affirm. If you want to add items to your diamond jewelry purchase, you will need to apply for another loan with Affirm or use a different payment method. However, Agape Diamonds offers free resizing on all diamond rings, so if the size is the issue that can be easily solved.

While purchases approved through Affirm can be refunded for up to 365 days from the date of purchase, Agape Diamonds only allows refunds and returns up to 30 days after purchase. Check with Agape Diamonds customer service if you're unsure of your refund eligibility.

Need more information?
Affirm has a wonderful support team standing by, ready to answer any questions you may have. Whether you need help making a payment or have a question about interest rates before you get started,  Affirm has a dedicated team in San Francisco at Affirm HQ, ready to answer your questions and help you out however they can. The Affirm Customer Service Team can be reached by emailing [email protected] or calling toll-free 855-423-3729 from 7AM - 7PM CST seven days a week.

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