Paying for an engagement ring


Hi all

Looking for a bit of advice on the best way to purchase an engagement ring. I’ve been saving for the last year and have enough set aside to buy the ring outright (£4,500). However, I’m now thinking that I might be better off using a credit card to do this.

I’ve never had a credit card and unsure where to start really. Do I focus on those with 0% APR or those with better cashback/rewards? Having already saved up I’ll be able to pay the card off either instantly in one lump sum (assuming that’s possible) or set up a monthly direct debit so that I have a bit of a cash buffer for other expenses. I’ve had a quick look and I’m not even sure if the cashback/rewards are worth the effort, but then I’m thinking it would be good for my credit rating to have a credit card. I probably wouldn’t plan on using the card for anything other than buying the ring (unless it makes a lot of financial sense to do so). I haven’t checked my credit rating since buying my first house 2 years ago, but expecting everything to be in good shape there.

Any advice would be really appreciated! Thanks



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