The Kay Jewelers credit card, issued by Comenity Bank, offers financing options for (and occasional discounts on) shiny accessories. The “zero down, special financing” windows can be longer compared to those offered on some other general rewards credit cards — but unlike those kinds of cards, the Kay Jewelers card doesn’t offer much else in the way of incentives.
In fact, to take advantage of the card’s financing plans — which are risky deferred interest offers — you’ll owe a nominal fee, which also isn’t typical of most rewards credit cards.
If you can potentially pay off a Kay Jewelers purchase in a little more than a year or so, consider instead a general-purpose rewards credit card with a true 0% introductory APR, generous welcome bonus, and ongoing rewards.
Here’s what you need to know about the Kay Jewelers credit card.
1. It features financing options, with big catches
As a cardholder, you might be able to qualify for various promotional financing, depending on the amount of the purchase. You’ll pay zero interest if the balance is paid in full within the required period. The following plans are offered:
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6 months of financing for a minimum purchase of $300.
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12 months of financing for a minimum purchase of $750.
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18 months of financing for a minimum purchase of $3,000.
On occasion, there may be other terms available for a limited time. There’s also an option for 36 months of financing, but it charges an APR of 16.99% for that period and 35.99% after that. With good credit (typically, credit scores somewhere in the mid- to high 600s or so), you can potentially qualify for a lower interest rate elsewhere.
But with the “zero down, special financing” plans offered by the Kay Jewelers card, you’ll want to keep some things in mind. First, a 2% fee is charged on such plans. In addition, a fee of $2.99 per month may also apply for each billing statement mailed to you, though you can avoid it by enrolling in paperless statements. Still, other credit cards don’t charge such fees.
Secondly, these offers aren’t true 0% intro APR plans, in which interest is actually waived for a period of time. Instead, these are deferred interest plans, meaning that interest is still accruing in the background. If you can’t pay off the promotional balance in full when the deadline expires, you’ll owe interest at the card’s much higher ongoing APR, dating all the way back to the time you originally financed the purchase, and at the original purchase price. That can end up costing you big. (More on why that’s so in the next section.)
General-purpose credit cards, on the other hand, tend to feature true 0% intro APR offers. Under this kind of plan, if you still owe a balance when the promotional period expires, you’ll owe interest only on that remaining amount. The Wells Fargo Active Cash® Card, for instance, offers a 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers, and then the ongoing APR of 18.99%, 24.99%, or 28.99% Variable APR. It also comes with a welcome bonus that can defray some of the cost of your purchase: Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. On top of all that, you’ll earn 2% cash back on all eligible purchases.
2. The ongoing APR is sky-high
As of this writing, the Kay Jewelers credit card charges an APR of nearly 36%, for purchases not enrolled in a financing plan. As such, it’s critical to avoid carrying a balance or taking on a financing offer if you can’t meet the deadline to pay it off entirely. The average interest rate for credit cards that assess interest was 22.25% as of May 2025, according to Federal Reserve data, and even that’s not ideal — especially when it comes to expensive pieces of jewelry. If you’re carrying a balance on this card, you could be paying off that debt for a long time.
If you do need to carry a balance, there are better options, including — as mentioned above — a card with a 0% introductory APR offer on purchases. But if you can’t qualify for that type of offer, you could also consider a credit card from a credit union. You’ll need to become a member to be eligible, but some are easier to join than others. And it can be worth it because credit unions typically cap interest rates at 18%, a significantly lower rate than what the Kay Jewelers card charges.
The PenFed Power Cash Rewards Visa Signature® Card, for example, offers a 0% introductory APR for 12 months on balance transfers made in the first 90 days after account opening. After that, the APR for the unpaid balance and any new balance transfers will be a non-variable rate of 17.99%. It also offers 1.5% cash back on all purchases.
3. There’s a modest introductory offer
As of this writing, the Kay Jewelers credit card features a new cardholder offer: Through Oct. 31, 2025, you’ll receive 10% off your first purchase of $999.99 or 15% off your purchase of $1,000 or more when you open and use the card. That could represent a nice discount on an expensive piece of jewelry, but a general-purpose rewards credit card can likely offer more value upfront and long term.
Consider the Blue Cash Everyday® Card from American Express, which features the following welcome offer: Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months. Terms Apply. If you plan to shop for jewelry online, this card also earns 3% cash back on U.S. online retail purchases on up to $6,000 spent per year, among other rewards. It also has a 0% intro APR for 15 months on purchases and balance transfers, and then the ongoing APR of 19.74%-28.74% Variable APR. (Terms apply; see rates and fees.)
4. Discounts are occasionally offered
Kay Jewelers might offer discounts through cardholder appreciation events or other options. For example: Through Oct. 31, 2025, you can get 10% off a purchase, 15% off in-store repairs, and 15% off an in-store custom design purchase.
These discounts are useful, but they aren’t something you can count on. After all, what are the odds that a promotion or discount will be aligned with the few occasions you need to purchase jewelry? A general-purpose rewards credit card can offer the certainty of ongoing value in the form of points or cash back.
5. You can earn rewards, just not through the card itself
You don’t earn rewards for holding the Kay Jewelers credit card, but you can earn them through the store’s Vault Rewards loyalty program, which you’re automatically enrolled in if you’re approved for the card and provide a valid email address.
Card or not, the loyalty program is free to join. It offers 1 “Gem” for every dollar spent in store and online with Kay. By collecting gems, you can work up to different membership tier statuses that offer benefits like birthday discounts, special offers from loyalty partners and more.