Cash or Credit

If you’ve been shopping for the best diamond price, it can be irritating to reach the final step of providing your credit card information and find out using your credit card will cost you another 1-3% above the original price.

On the other hand, when you prepare to pay and are told you can save 1-3% by paying with a wire transfer, you may be elated at the extra savings.

Though these are just different ways of saying the same thing, some retailers list their wire transfer prices as their “regular” prices and others list their credit card prices as the normal price. The way it is presented can leave a customer with a very negative or positive last impression—or even stall a purchase while the customer recalculates whether this is truly the best price available.

It pays to examine the exact payment options available before making the final decision, not just so you know the true amount due, but also so you don’t feel like you are being played.

Here are a few popular retailers’ wire transfer payment policies:

These retailers list their credit card prices on sites like DiamondPriceGuru.com and then provide a discount if you pay with a wire transfer:

Blue Nile 1.5%
James Allen 1.5%
Mondera 2%
Precious Glow 1%

These retailers list their wire transfer prices on sites like DiamondPriceGuru.com and then add a fee if you pay with a credit card:

Abazias 2.3%
ERD 3%