The 5 Best Credit Cards for Buying an Engagement Ring or Wedding Ring [September 2023]
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The best cards to buy engagement or wedding rings offer superb rewards and flexible repayment terms.
Sure, retailers like Zales and Kay Jewelers usually offer 0% APR financing, but there is little-to-no space for rewards.
Additionally, the absolute winning credit cards in this space will boast huge welcome offers. Lastly, an important factor for a great card for engagement rings is a high credit limit.
So, to put yourself in the best position, find yourself a credit card with excellent rewards, attractive introductory APR promotions, a substantial welcome bonus, and a high credit limit!
Top Picks (Quick Summary)
| Card | Benefits | Annual Fee |
| The Platinum Card® from American Express |
| $695 (Rates & Fees) |
| Capital One Venture X Rewards Credit Card (rates and fees) |
| $395 |
| Chase Freedom Unlimited® |
| $0 |
1. The Platinum Card® from American Express
Terms Apply / Rates & FeesThe Platinum Card® from American Express
This card is undoubtedly the #1 card for luxury travel benefits. From the best lounge access (of any card) to statement credits, to complimentary elite status, you can’t go wrong.
The Platinum Card® from American Express
This card is undoubtedly the #1 card for luxury travel benefits. From the best lounge access (of any card) to statement credits, to complimentary elite status, you can’t go wrong.When it comes to cards that offer top-notch benefits, you’d be hard-pressed to find a better card out there than The Platinum Card® from American Express.
Make no mistake — the Amex Platinum card is a premium card with a premium price tag. With amazing benefits like best-in-class airport lounge access, hotel elite status, and tremendous value in annual statement credits, it can easily prove to be one of the most lucrative cards in your wallet year after year.
Pros
- The best airport lounge access out of any card (by far) — enjoy access to over 1,400 worldwide lounges, including the luxurious Amex Centurion Lounges, Priority Pass lounges, Plaza Premium Lounges, and many more!
- 5x points per $1 spent on flights purchased directly with the airline or with American Express Travel (up to $500,000 per year)
- 5x points per $1 spent on prepaid hotels booked with American Express Travel
- Annual and monthly statement credits upon enrollment (airline credit, Uber Cash credit, Saks Fifth Avenue credit, streaming credit, prepaid hotel credit on eligible stays, Walmart+ credit, CLEAR credit, and Equinox credit)
- TSA PreCheck or Global Entry credit
- Access to American Express Fine Hotels and Resorts
- Access to Amex International Airline Program
- No foreign transaction fees (rates and fees)
Cons
- $695 annual fee (rates and fees)
- Airline credit does not cover airfare (only incidentals like checked bags)
- Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership. Apply and select your preferred metal Card design: classic Platinum Card®, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu.
- Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
- $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel when you pay with your Platinum Card®. The Hotel Collection requires a minimum two-night stay.
- $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card® on one or more of the following: Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, SiriusXM, and The Wall Street Journal. Enrollment required.
- $155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership (subject to auto-renewal) with a statement credit after you pay for Walmart+ each month with your Platinum Card®. Cost includes $12.95 plus applicable local sales tax. Plus Up Benefits are excluded.
- $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card®.
- $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member only.
- $300 Equinox Credit: Get up to $300 back in statement credits per calendar year on an Equinox membership, or an Equinox club membership (subject to auto-renewal) when you pay with your Platinum Card®. Enrollment required. Visit https://platinum.equinox.com/ to enroll.
- $189 CLEAR® Plus Credit: Breeze through security with CLEAR Plus at 100+ airports, stadiums, and entertainment venues nationwide and get up to $189 back per calendar year on your Membership (subject to auto-renewal) when you use your Platinum Card®. Learn more.
- $100 Global Entry Credit: Receive either a $100 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
- Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card®. That's up to $50 in statement credits semi-annually. Enrollment required.
- $300 SoulCycle At-Home Bike Credit: Get a $300 statement credit for the purchase of a SoulCycle at-home bike with your Platinum Card®. An Equinox+ subscription is required to purchase a SoulCycle at-home bike and access SoulCycle content. Must charge full price of bike in one transaction. Shipping available in the contiguous U.S. only. Enrollment Required.
- Unlock access to exclusive reservations and special dining experiences with Global Dining Access by Resy when you add your Platinum Card® to your Resy profile.
- $695 annual fee.
- Terms Apply.
Financial Snapshot
- APR: See Pay Over Time APR
- Foreign Transaction Fees: None
Card Categories
Rewards Center
- Amex Platinum 150k Welcome Bonus Offer
- Benefits of The Amex Platinum
- How to Use 100,000 Amex Platinum Points
- Amex Platinum Card Requirements
- American Express Platinum Military Benefits
- Amex Platinum and Business Platinum Lounge Access
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- Amex Platinum vs Delta Platinum
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- Capital One Venture X vs Amex Platinum
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Hot Tip: Check to see if you’re eligible for a welcome bonus offer of up to 125k (or 150k) points with the Amex Platinum. The current public offer is 80,000 points. (This targeted offer was independently researched and may not be available to all applicants.)
The Amex Platinum card is the best card to use for your engagement ring purchase.
In addition, this card has some of the best luxury travel perks — that could definitely come in handy when you’re on your honeymoon.
Enjoy the ability to earn up to 5x Membership Rewards points on flights booked directly with airlines or with American Express Travel (up to $500,000 on these purchases per calendar year) and 5x Membership Rewards points on prepaid hotels booked with American Express Travel.
Access luxury hotel benefits with the Fine Hotels & Resorts and The Hotel Collection, enjoy the best airport lounge perks with the American Express Global Lounge Collection, and get hotel elite status with Hilton Honors Gold and Marriott Bonvoy Gold Elite status (upon enrollment).
There’s also more than $1,400 in statement credits, including:
- Up to $200 in airline fee credits
- Up to $200 in prepaid hotel credit on eligible stays
- Up to $100 in Saks Fifth Avenue credits
- Up to $240 in digital entertainment credits
- Up to $155 in Walmart+ credits
- Up to $300 in Equinox credits
- Up to $100 in Global Entry/TSA PreCheck credits
- Up to $189 in CLEAR credit
Note that some statement credits require enrollment so be sure to explore your American Express account.
2. Capital One Venture X Rewards Credit Card
Terms Apply / Rates & FeesCapital One Venture X Rewards Credit Card
The Capital One Venture X card is an excellent option for travelers looking for an all-in-one premium credit card.
Capital One Venture X Rewards Credit Card
The Capital One Venture X card is an excellent option for travelers looking for an all-in-one premium credit card.The Capital One Venture X Rewards Credit Card is the premium Capital One travel rewards card on the block.
Points and miles fans will be surprised to see that the Capital One Venture X card packs quite the punch when it comes to bookings made through Capital One, all while offering the lowest annual fee among premium credit cards.
Depending on your travel goals and preferences, the Capital One Venture X card could very well end up being your go-to card in your wallet.
Pros
- 10x miles per $1 on hotels and rental cars purchased through Capital One Travel
- 5x miles per $1 on flights purchased through Capital One Travel
- 2x miles per $1 on all other purchases
- $300 annual travel credit on bookings made through Capital One Travel
- Unlimited complimentary access for cardholder and 2 guests to 1,300+ lounges, including Capital One Lounges and the Partner Lounge Network
- 10,000 bonus miles awarded on your account anniversary each year
- Global Entry/TSA PreCheck credit
- Add authorized users for no additional annual fee
- No foreign transaction fees
Cons
- $395 annual fee
- Does not offer bonus categories for flights or hotel purchases made directly with the airline or hotel group, the preferred booking method for those looking to earn elite status
- Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
- Receive a $300 annual credit for bookings through Capital One Travel, where you’ll get Capital One’s best prices on thousands of trip options
- Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary
- Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights booked through Capital One Travel
- Earn unlimited 2X miles on all other purchases
- Unlimited complimentary access for you and two guests to 1,300+ lounges, including Capital One Lounges and the Partner Lounge Network
- Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more – you can even transfer your miles to your choice of 15+ travel loyalty programs
- Elevate every hotel stay from the Premier or Lifestyle Collections with a suite of cardholder benefits, like an experience credit, room upgrades, and more
- Receive up to a $100 credit for Global Entry or TSA PreCheck®
Financial Snapshot
- APR: 22.24% - 29.24% (Variable)
- Foreign Transaction Fees: $0
Card Categories
Rewards Center
- Benefits of the Capital One Venture X Card
- Best Ways to Use Venture X Points
- Capital One Venture X Credit Score and Approval Odds
- Capital One Venture X Lounge Access
- Capital One Venture X Travel Insurance Benefits
- Capital One Venture vs Venture X
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One of our favorite cards is the Capital One Venture X card — you’ll earn 2x miles on your engagement ring purchase!
You’ll even have the ability to earn 10x miles on hotels and rental cars booked through Capital One Travel, as well as 5x miles on flights booked through Capital One Travel.
Also, you’ll get a bonus of 10,000 miles every year, starting on your first cardmember anniversary, as well as a $300 annual travel credit for Capital One Travel bookings.
Remember that this card also comes with cell phone protection, no foreign transaction fees, and no annual fees for up to 4 authorized users.
3. Capital One Venture Rewards Credit Card
Terms Apply / Rates & FeesCapital One Venture Rewards Credit Card
Get 2x miles plus some of the most flexible redemptions offered by a travel credit card!
Capital One Venture Rewards Credit Card
Get 2x miles plus some of the most flexible redemptions offered by a travel credit card!As a frequent traveler with excellent credit, you’re always on the lookout for a credit card that comes with all the bells and whistles. And the easier it is to understand, the better!
The Capital One Venture Rewards Credit Card is one of the most popular rewards cards on the market. It’s perfect for anyone in search of a great sign-up bonus, high rewards rates, and flexible redemption options.
Pros
- 5x miles per $1 on hotels and rental cars booked through Capital One Travel
- 2x miles per $1 on all other purchases
- 2 complimentary visits to a Capital One Lounge or Plaza Premium Lounges each year
- Global Entry or TSA PreCheck credit
- No foreign transaction fees
- Access to Capital One transfer partners
Cons
- $95 annual fee
- Limited elite benefits
- Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel
- Earn unlimited 2X miles on every purchase, every day
- Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you’ll get Capital One’s best prices on thousands of trip options
- Miles won’t expire for the life of the account and there’s no limit to how many you can earn
- Receive up to a $100 credit for Global Entry or TSA PreCheck®
- Enjoy two complimentary visits per year to Capital One Lounges or to 100+ Plaza Premium Lounges through the Partner Lounge Network
- Use your miles to get reimbursed for any travel purchase – or redeem by booking a trip through Capital One Travel
- Enrich every hotel stay from the Lifestyle Collection with a suite of cardholder benefits, like a $50 experience credit, room upgrades, and more
- Transfer your miles to your choice of 15+ travel loyalty programs
Financial Snapshot
- APR: 21.24% - 29.24% (Variable)
- Foreign Transaction Fees: None
Card Categories
Rewards Center
- How To Find the 75k or 100k Bonus for the Capital One Venture
- Travel Insurance Benefits of the Capital One Venture
- Capital One Venture vs Venture X
- Capital One Venture Card vs. Capital One VentureOne Card [Detailed Comparison]
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The Capital One Venture card (rates and fees) is another fantastic way to get rewarded for your engagement ring purchase because you’ll earn 2x miles on this purchase.
You’ll also get 5x miles per dollar spent on hotels and rental cars booked via Capital One Travel.
Maximize your benefits here by using the 2 complimentary visits to Capital One Lounges or Plaza Premium Lounges every year, a Global Entry or TSA PreCheck application fee credit, and no foreign transaction fees.
Big benefit of this card is the purchase security benefit. With this benefit, eligible purchases are replaced, repairs or reimbursed for the first 90 days! Terms, conditions and exclusions apply. Refer to your Guide to Benefits for more details
4. Chase Freedom Unlimited®
Chase Freedom Unlimited®
This all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!
Chase Freedom Unlimited®
This all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!The Chase Freedom Unlimited® is easily one of the best cash-back credit cards on the market. There aren’t many no-annual-fee credit cards that offer multiple great bonus categories like 5% back on travel purchased through Chase, 3% back on dining and drugstore purchases, and 1.5% back on all other purchases.
When paired with other Chase cards in the Ultimate Rewards family, you can transfer that cash back into points if you wish – making it one of the most lucrative cards in your wallet.
Don’t forget too, there’s 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
Pros
- 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
- 5% back on travel purchased through Chase Ultimate Rewards
- 3% back on dining and drugstore purchases
- 1.5% back on all other purchases
- No annual fee
- Earn big on travel purchased through Chase Ultimate Rewards
- Everyday bonus on dining and drugstores
- Straightforward cash-back on all other purchases
- Ability to pool points
Cons
- 3% foreign transaction fee
- INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
- Enjoy 6.5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
- After your first year or $20,000 spent, enjoy 5% cash back on Chase travel purchased through Ultimate Rewards®, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
- No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
- Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
- No annual fee - You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
- Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more.
- Member FDIC
Financial Snapshot
- Foreign Transaction Fees: None
Card Categories
Rewards Center
- Benefits of the Chase Freedom Unlimited
- Chase Freedom Unlimited Requirements and Credit Score
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The Freedom Unlimited card is one of the most underrated credit cards for engagement ring purchases. You can maximize an amazing rewards structure to earn 1.5% cash-back on your ring purchase with this entry-level card:
- 5% cash-back on Chase travel booked through Ultimate Rewards
- 3% cash-back on drugstore purchases and dining at restaurants (including takeout and eligible delivery services)
- 1.5% cash-back on all other purchases
Even better, this card offers a 0% introductory APR perk that you can use to defer interest accrual so you can spread out your payments on this big-ticket purchase.
This card also offers basic benefits such as no-cost authorized user cards, secondary rental car coverage, purchase protection, extended warranty, and more.
5. Citi® Double Cash Card
Citi® Double Cash Card
Great card for the average spender with no specific focus category; worry-free cash-back earning on everything!
Citi® Double Cash Card
Great card for the average spender with no specific focus category; worry-free cash-back earning on everything!The Citi® Double Cash Card has long been one of the top cash-back credit cards on the market, and the card now has the ability to earn Citi ThankYou Points!
This means that cardholders of the Double Cash card will now earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. Cash back is earned in the form of ThankYou Points. This means each billing cycle, you will earn 1 ThankYou point per $1 spent on purchases and an additional ThankYou point for every $1 paid on your purchase balance as long as there is a corresponding balance in your Purchase Tracker.
Citi has turned the Double Cash card into a top choice for those who are looking for an everyday, no-fuss credit card.
Pros
- Uncapped 2% for every $1 spent (1% when you buy and another 1% when you pay)
- Flexible redemption options
- No annual fee
Cons
- No bonus categories
- 3% foreign transaction fees
- Lack of premium travel benefits
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
- To earn cash back, pay at least the minimum due on time.
- Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 19.24% – 29.24%, based on your creditworthiness.
- Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Financial Snapshot
- APR: 19.24% - 29.24% Variable
- Foreign Transaction Fees: 3% of the U.S. dollar amount of each purchase
Card Categories
Rewards Center
The Double Cash card is a solid choice because you can get an unlimited 2% cash-back: 1% back when you buy and 1% back when you pay (earned as ThankYou Points).
The rewards on this card are uncapped, so you can rest assured you’ll get fantastic rewards no matter how much you spend on your ring.
This card even has a 0% introductory APR on balance transfers, though not purchases.
Other notable benefits include fraud alerts, zero liability for unauthorized purchases, access to Citi Entertainment, and no fees for authorized users.
Final Thoughts
The best card to use for an engagement ring purchase will depend significantly on your financial standing.
If you’re able to buy the ring outright without any financing, we would encourage you to consider getting the Amex Platinum card, the Capital One Venture X card, the Capital One Venture card, or the Double Cash card.
The rewards from the welcome bonus and the transaction itself will end up netting you a huge return on your spending.
But if you need to finance your purchase, take advantage of the offers on the Freedom Unlimited card or the Amex Cash Magnet card to earn some rewards while using the introductory APR promotions to spread out your payments!
We hope that you’ve found this complete guide useful on which cards are the best pay for your engagement ring. For your next stage of planning, check out our guide to the best credit cards for weddings and honeymoons.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
The information regarding the Capital One Venture X Business Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the American Express Cash Magnet® Card 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.