How to pay for your dream jewellery
Afford your dream ring now with a little help from Fenton.
It is one thing to see your dream heirloom, engagement or celebration ring, or perfect pair or earrings on our website, but another to purchase it. We at Fenton realise this is probably one of the biggest (if not the biggest) purchases you’ve made online. Whilst this is an exciting time it can also be incredibly daunting at first!
Rest assured, that we are committed to make the whole experience from A to Z as seamless as possible for you - including payment. That’s why we've partnered with great companies that offer different financing options, which are tailored to your specific needs. And what’s even better - all options come at no cost to you, provided you repay your monthly instalments on time. Also, remember our concierge team is always available to help if you have any questions regarding financing!
Questions to ask yourself when choosing a financing option
Our financing methods all differ and offer slightly different solutions to what financing support you might be looking for. Hence, there are a few things to ask yourself before choosing the best option for you:
- Are you willing to take on an additional line of credit? Note this will be reflected in your credit score: the higher your credit score is, the likelier you will be to be accepted).
- Over how many repayments would you like to split your purchase? We offer schedules ranging from 3 (Pay in 3) to 36 monthly repayments with Tymit.
- How big is your purchase? The concierge team can always split your purchase via a cash deposit and then a part via a financing tool. Note that the lower the amount you put via our methods, the higher your likelihood of being accepted!
- Do you live in the UK? If not the case, then don’t despair! We offer Splitit that can be used by anyone outside the UK!
Fentons financing options
With that in mind, here is a quick summary from each method we offer:
Klarna Pay in 3:
This method allows you to split your purchase in 3 equal payments. The maximum amount of £1,000 and you will not undergo a credit check. Any card can be used to make the purchase. UK residents only.
This method allows you to split your purchase in 12 equal instalments at no cost to you. Splitit will take the full amount as a pre-authorisation on your credit card, which means that you will neither open a new line of credit nor undergo a credit check. However, you will need that amount available on your credit card limit (e.g. if your purchase costs £2,100, you will need that amount on your credit card limit for Splitit to take a pre-authorisation on your card. That pre-authorisation will then go down gradually, as you repay the monthly installments). You will need a credit card (no debit cards). The goods news is that there is no limit to the amount you can put on Splitit, as long as your credit card has the available corresponding credit limit. This method is available for non-UK residents.
Klarna allows you to split your purchase in 6, 12 or 24 instalments. Any major credit card or debit card is accepted and you will need to enter your UK bank details to set up a direct debit. This is a new line of credit and as a result you will undergo a credit check. There is a limit of £4,000 on Klarna Financing. Remember that the higher the amount you place on Klarna, the harder it is to get approved (and while our concierge can tell you the ins and outs, we at Fenton do not have control over this). A good idea here to maximise your chances is to pay part via a cash deposit and put in the remaining, smaller amount, via Klarna. UK residents only.
Tymit is a new way to pay that allows you to buy in instalments everywhere. You can spread the cost of any Fenton purchase into 3 - 36 interest free instalments. You can apply for Tymit online and be instantly approved, before you have decided what you want to buy. Once approved, Tymit will send you a virtual card and a credit line of up to £6,000 to buy your dream heirloom.
When you’re ready, you can pay on our website with your Tymit card details as if paying with any other debit or credit card. Tymit will automatically split the payment into 36 interest free instalments. You can amend your payment term in their app as many times as you like (e.g. lengthen a 12 month plan to 24 months). But always at 0% interest. Should you be approved for a lower amount than the price of your dream ring, you can always split the cost between Tymit and another card. Remember, when you apply for Tymit you will undergo a credit check. The amount of credit Tymit can offer you is dependent on a number of factors which aren’t determined by Fenton, including but not limited to your credit score.
That’s all folks - we pride ourselves on offering you the best value for money so we hope that this overview of different financing options was helpful to you. Should you have any questions, please don’t hesitate to contact our concierge team that will be happy to help!