8 Best Credit Cards for Jewelry Purchases [2021]

2 women ring shopping

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Jewelry purchases make up some of the highest-cost items you can buy, at least with a credit card.

And while jewelry is the umbrella term that encompasses items like engagement rings, antique items, fashion pieces, and the like, the reality is that jewelry can get really expensive really quickly.

A high-ticket item like jewelry can end up giving you a solid chunk of points with just 1 purchase. That’s why if you have the financial means to put your jewelry purchase on a credit card without needing to carry a balance, you’ll still need to pay attention to which card you make your purchase with.

In this guide, we’ll walk you through the ins and outs of the best credit cards for jewelry purchases.

What To Look for in a Credit Card for Jewelry Purchases

When you’re buying jewelry, there are 3 main features you should optimize for:

  1. Great rewards
  2. Excellent purchase protection
  3. A high credit limit (or ideally, no preset spending limit)

Since jewelry is generally quite pricey, having a card with generous purchase protection can be useful if anything goes wrong with your purchase.

Also, having a high credit limit credit card or one without a preset spending limit can be handy to help you avoid getting your card declined at the point of sale.

Lastly, the best credit cards for jewelry purchases are also those that offer the best points!

As you’ll find out, there aren’t any credit cards that offer jewelry as a specific bonus category, so we’ll be looking at the best options for non-bonused spending, starting with personal credit cards.

The 4 Best Personal Credit Cards for Jewelry Purchases

Image Credit: Tyler Nix via Unsplash

1. The Platinum Card® from American Express

Our favorite card to put your jewelry purchase on is the Amex Platinum card. Even though this card needs no introduction, it’s definitively the best card for luxury travel perks and some of the best rewards in the world.

Then, earn 5x points per $1 spent on flights purchased directly with the airline or with Amex Travel (up to $500,000 per calendar year; 1x thereafter), as well as 5x points per $1 spent on prepaid hotels booked with Amex Travel. All other purchases, including jewelry stores, earn 1x points.

When you hold this card, you’ll also get a magnificent assortment of luxury travel benefits:

Travel benefits are only 1 piece of the pie, as you’ll also get some industry-leading lifestyle perks, like up to $240 digital entertainment credit (up to $20 monthly), $200 in Uber Cash ($15 monthly and $35 in December), up to $300 Equinox credit (up to $25 credits monthly), and up to $100 in Saks Fifth Avenue credits (2 credits of up to $50 semi-annually). Enrollment may be required for select benefits, so make sure you explore your American Express account to get the most out of your card.

There’s one last set of very important benefits: purchase protection, extended warranty, and zero liability fraud protection for your big jewelry purchase!

Why We Like Earning Amex Membership Rewards Points

Amex Membership Rewards points are the most valuable type of rewards currency, each worth 2.2 cents by our valuations.

So if you earn 1x points per $1 spent, you’d get a return on spend of 2.2%, possibly even higher if you redeem your points for business and first class travel via transfer partnerships.

You can also use your Amex points for cash-back, gift cards, statement credits, Pay With Points bookings through Amex Travel, charity, and more, but we wouldn’t recommend these options due to the reduction in value you’d get.

2. Citi® Double Cash Card

The Double Cash offers unfussy rewards focused on cash-back at first glance, but upon closer inspection and studying, you’ll realize that your cash-back can be converted into transferable rewards with the right credit card.

You’ll get a 2% cash-back rewards structure (1% when you purchase and another 1% when you pay it off) with no caps/maximums.

And if you have a ThankYou Rewards credit card like the Citi Premier® Card, you’ll have the ability to convert your cash-back to points at a ratio of 1% to 1x points.

Lastly, the other card’s perks include zero liability for unauthorized purchases, fraud protection, a late fee pass, flexible pay dates, access to Citi Private Pass for event tickets, and an introductory 0% APR promotion. As with all intro APRs, regular APR, as shown in the table above, will apply.

Why We Like Earning Citi ThankYou Rewards Points

Citi ThankYou Rewards Points are some of the most valuable points out there, worth 1.6 cents each by our valuations.

That means if you have a ThankYou Rewards card to go along with your Double Cash card, you can get 2x points worth 3.2% back!

To get the maximum value out of those points, transfer them to airline partners and book luxury flights like Lufthansa first class and Singapore Airlines First Class Suites!

And while we wouldn’t recommend these other redemptions, it’s possible to use points for travel booked via Citi ThankYou Travel, gift cards, cash-back, and charity, as well as mortgage/student loan payments.

3. Chase Freedom Unlimited® Card

We are huge fans of the Freedom Unlimited card. This is because this card offers amazing rewards, especially for non-bonused spending (which jewelry purchases almost always fall under):

  • 5% cash-back on travel purchased through the Ultimate Rewards travel portal
  • 5% cash-back on Lyft purchases through March 2022
  • 3% cash-back on dining purchases
  • 3% cash-back on drugstore purchases
  • 1.5% cash-back on all other purchases

Just like the Double Cash card, you can convert your cash-back rewards to transferable rewards points — Chase Ultimate Rewards, in this case. You need to have a card like the Chase Sapphire Preferred® Card, Chase Sapphire Reserve® Card, or Ink Business Preferred® Credit Card to achieve this.

You’ll also enjoy purchase protection, extended warranty, zero liability, fraud protection, secondary rental car insurance, plus a 0% introductory APR offer on purchases. Note that after the introductory period, regular APR (as shown in the table above) will apply.

Why We Like Earning Chase Ultimate Rewards Points

Chase Ultimate Rewards points are our second-most valuable rewards points, just behind Amex Membership Rewards points.

Worth around 2 cents each, earning 1.5x points is equal to a 3% return on spend. You can easily get better value than that, though, if you transfer your points to travel partners for luxury flights and hotels.

Other solid ways to use your Ultimate Rewards points include Pay Yourself Back, cash-back, statement credits, the Chase travel portal, gift cards, and Amazon purchases.

4. Capital One Venture Rewards Card

One of our favorite Capital One credit cards overall, the CapOne Venture card epitomizes Capital One’s flagship rewards system, Capital One Miles.

This credit card is a keeper because it gets you an unlimited 2x Capital One miles on all purchases with no caps. You’ll even get a $100 Global Entry/TSA PreCheck application fee credit!

And when you’re traveling or shopping, you’ll have peace of mind with secondary rental car insurance, travel accident coverage, lost luggage coverage, roadside dispatch, travel assistance, purchase security, extended warranty, zero fraud liability, and more, with no foreign transaction fees.

Why We Like Earning Capital One Miles

Capital One Miles is one of the newest transferable points systems. And since they’re worth around 1.4 cents apiece, we peg the return on spending of 2x miles per dollar spent at around 2.8%.

Still, you can easily boost the redemption value by transferring your miles to travel partners and booking business and first class flights.

Capital One Miles’ transfer partners vary in transfer ratios, so just remember to check whether your desired travel partner transfers at a 2:1, 2:1.5, or 1:1 ratio.

Hot Tip: If you plan to purchase jewelry from a department store, check out our guide to the best credit cards for shopping at department stores.

The 4 Best Business Credit Cards for Jewelry Purchases

Jewelry business
Image Credit: Alvin Mahmudov via Unsplash

1. The Blue Business® Plus Credit Card from American Express

Our favorite business credit card for jewelry purchases is the Amex Blue Business Plus card with its superb no-bonused earning potential.

You’ll end up earning 2x Amex points per $1 spent on everyday business transactions, up to $50,000 per calendar year, 1x thereafter! You’ll also get access to an introductory 0% APR offer. The APR reverts to the regular rate, as indicated in the table above, after the introductory period.

After hitting the $50,000 spending cap every year, you’ll end up with 100,000 Amex points, worth at least $2,200 by our valuations.

To round out this strong business credit card are benefits like no-cost employee cards, purchase protection, and extended warranty protection (see rates and fees).

2. The Business Platinum Card® from American Express

The Amex Business Platinum card is a phenomenal card with a strong welcome bonus, excellent travel benefits, and a unique benefit that comes in handy for jewelry purchases. Enrollment may be required for select benefits, so make sure you explore your American Express account to get the most out of your card.

The card earns 5x Membership Rewards points on flights and prepaid hotels booked through Amex Travel, netting you a return on spend of around 11% on these travel purchases.

But the real kicker for jewelry purchases is the large purchase bonus that gives you a 50% points bonus (1.5x Membership Rewards points per $1 spent) on purchases of $5,000 or more. The card earns 1.5x on eligible purchases in key business categories, as well as on purchases of $5,000 or more everywhere else (up to $2 million in purchases per calendar year). That means your return on spending would be equal to an approximate 3.3% back, given our valuation of 2.2 cents each.

Then, you’ll get most of the same luxury travel benefits as you would with the Amex Platinum card, including:

  • Access to the American Express Global Lounge Collection
  • Complimentary hotel and rental car elite status
  • Hotel elite-like perks with Fine Hotels & Resorts and The Hotel Collection
  • 35% Pay With Points rebate on select flights
  • Travel insurance and protection, including trip interruption and cancellation, baggage coverage, secondary car rental coverage, and travel accident insurance
  • Up to $200 airline fee credit every calendar year
  • TSA PreCheck/Global Entry application fee reimbursement

To round out all the perks, you’ll get up to $400 in statement credits for U.S. purchases with Dell, purchase protection, return protection, extended warranty protection, and no preset spending limit.

3. Ink Business Unlimited® Credit Card

The Ink Business Unlimited card has a lot going for it — after all, it’s our best Chase business card for jewelry purchases, and we’ll show you why.

This card earns a straightforward 1.5% cash-back on all purchases with no caps to earning!

You’ll also get primary car rental insurance, purchase protection, extended warranty, zero liability fraud coverage, and no-cost employee cards.

This card earns cash-back, but you can easily convert your rewards to Ultimate Rewards points with a card like the Ink Business Preferred card, Chase Sapphire Preferred card, or Chase Sapphire Reserve card.

4. Capital One Spark Miles for Business

Our very last card is Capital One’s premium business credit card, the CapOne Spark Miles card. This card is an amazing choice for business owners looking to optimize every business purchase made.

That’s because you can earn an unlimited 2x Capital One miles on all purchases without any caps.

It gets even better because your welcome bonus will be substantial. Also, earn 5x Capital One miles on hotel and car rental bookings made through Capital One Travel.

Just like the CapOne Venture card, the CapOne Spark Miles card boasts a $100 Global Entry/TSA PreCheck application fee reimbursement, a rare benefit for a card with an annual fee under $100.

The last set of perks is roadside assistance, extended warranty, purchase protection, zero fraud liability, free employee cards, and no foreign transaction fees.

Final Thoughts

A premium purchase like jewelry calls for a premium credit card.

To make sure that your card doesn’t get declined, has enough of a credit limit to support your purchase, and earns the best rewards, you should shop with confidence using the right credit card. That’s why we took out all the guesswork in helping you figure out the best cards to get for jewelry purchases!

Our top personal card picks are the Amex Platinum card, the Double Cash card, the Freedom Unlimited card, and the CapOne Venture card.

Our top business card picks are the Amex Blue Business Plus, the Amex Business Platinum card, the Ink Business Unlimited card, and the CapOne Spark Miles card.

The information regarding the Chase Freedom Unlimited® card, Capital One Venture Rewards card, and Capital One Spark Miles for Business was independently collected by Upgraded Points and not provided nor reviewed by the issuer.

For rates and fees of The Platinum Card® from American Express, click here.
For rates and fees of The Blue Business® Plus Credit Card from American Express, click here.
For rates and fees of The Business Platinum Card® from American Express, click here.

Frequently asked questions

Which jewelry credit card is best?

Jewelry store credit cards can be tricky because they may offer sketchy interest rates and fee structures.

If you have the means to avoid carrying a balance, you should consider a premium credit card to help you earn rewards.

We like the Amex Platinum card, thanks to its generous rewards, amazing travel benefits, no preset spending limit, and awesome purchase protection.

Can you use a credit card to buy jewelry?

Yes, you can! The store you shop at may encourage you to pay in cash or sign up for a payment plan, but go ahead and insist on using a credit card so that you can rack up points and protect your purchase.

Can I purchase gold by credit card?

Yes, you can purchase gold and jewelry using a credit card, as long as you’re shopping at a legitimate jewelry store.

What are the best credit cards for buying jewelry?

Our favorite personal cards for buying jewelry are the Amex Platinum card, the Double Cash card, the Freedom Unlimited card, and the CapOne Venture card.

Our favorite business cards for jewelry purchases are the Amex Blue Business Plus card, the Amex Business Platinum card, the Ink Business Unlimited card, and the CapOne Spark Miles card.

Stephen Au

About Stephen Au

Born and raised in Los Angeles, Stephen has been privileged to enjoy many premium cabin products and 5-star hotels. A petroleum engineer by trade, Stephen caught the travel bug in college when he traveled to Asia several times. After 2 years of continual promotions, Stephen quit his safe and secure career path in favor of entrepreneurship.

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