I am getting prepared (read: bending over) to purchase an engagement ring. I am, in all likelihood, going to purchase a diamond separately and send it to someone to create the setting. The diamonds that I am looking at range from 16-18k.
I am looking to maximize the point/mile return of this purchase. The only real diamond broker that I see offers points/cashback is BlueNile, who I feel comfortable with. I recognize that they are slightly higher than others like James Allen, but I'm confident that the benefits I'll derive through a portal will outweigh the slightly increased cost.
I have a couple of thoughts.
Cards:
1. AmEx Delta Platinum: Would leave 2-3k left this year to hit the 25k threshold and grab 10k MQMs. Would AP and gift card purchase the balance.
2. Chase Sapphire Preferred: No real bonus here
Portal:
1. TopCashBack: 5% up to 12,500 ($625)
2. Chase Ultimate Rewards: 6pts up to 7,500 (45k points)
To me, the ideal situation would be to charge on AmEx through UR mall, but I'm somewhat concerned about what would happen if it didn't register correctly and I can't point to a charge on a Chase statement.
Any thoughts on the best combination of the above? Thanks for any and all thoughts!
Chase BA card is another possibility? At 18k for the ring, you'll be 2k away from the 100k avios in one shot. Put another 10k on it and you'll get the companion pass. That's 2 F tickets (w/ YQ cost) almost anywhere for one purchase + 12k charge. I don't know if BA has a shopping portal but if they do, I'd bet that blue nile is on there as well.
Putting aside the points benefits, you will often save more money going to a local jeweler instead of the bigger names (even online).
Any thoughts on the best combination of the above? Thanks for any and all thoughts!
No real thoughts on the points since my husband <sigh> paid cash for mine. Oh, the points he left on the table! I just wanted to say that he was very impressed with the quality and pricing at Blue Nile, even though he was very hesitant to buy a diamond online.
I tried this route and let me tell you the points won't/don't matter here.
I found a great website much like FT called Pricesope--found a great stone and setting at about 50% less retail. Pay in cash or bankwire to save 3-5% and if you mention Pricescope, it's another 5% off.
The savings in $$$ way offset any points.
I bought online via Whiteflash and had a great customer experience--the stone was appraised locally and he was even wow-ed, esp when he learned what I paid.
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Having just gone through this process, may I suggest that whoever you decide to buy from (online) that you post the specs on the bling forum over at pricescope. The folks there were super helpful in helping me evaluate bang for buck. Once you get something picked out, almost everyone will give you a cash discount. Then weigh the rewards to cash. At the time I was points heavy so I took the cash (~2.5%).
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16-18k? Have a trust buy the diamond and hold title then lease it to you. With the state of marriage these days I would do that with the house too. Own nothing that the lawyers can go after down the road.
That advice is worth far more than any points you might get.
Quote:
Originally Posted by nittany987
I am getting prepared (read: bending over) to purchase an engagement ring. I am, in all likelihood, going to purchase a diamond separately and send it to someone to create the setting. The diamonds that I am looking at range from 16-18k.
I am looking to maximize the point/mile return of this purchase. The only real diamond broker that I see offers points/cashback is BlueNile, who I feel comfortable with. I recognize that they are slightly higher than others like James Allen, but I'm confident that the benefits I'll derive through a portal will outweigh the slightly increased cost.
I have a couple of thoughts.
Cards:
1. AmEx Delta Platinum: Would leave 2-3k left this year to hit the 25k threshold and grab 10k MQMs. Would AP and gift card purchase the balance.
2. Chase Sapphire Preferred: No real bonus here
Portal:
1. TopCashBack: 5% up to 12,500 ($625)
2. Chase Ultimate Rewards: 6pts up to 7,500 (45k points)
To me, the ideal situation would be to charge on AmEx through UR mall, but I'm somewhat concerned about what would happen if it didn't register correctly and I can't point to a charge on a Chase statement.
Any thoughts on the best combination of the above? Thanks for any and all thoughts!
I am getting prepared (read: bending over)...... The diamonds that I am looking at range from 16-18k.
You can get a stunning ring for a hell of a lot less than this.
Look at local jewlers who do their own work - most will have a supply of fine stones and be able to give you a better deal, esp if you couple it with a custom setting.
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If you're willing to pay 18k to Blue Nile, pay 10k for a better stone from a wholesaler and use the 8k for the honeymoon. Forget about the 10,000-ish miles you could earn: that's peanuts.
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Posts: 1,643
I don't know where you are based, but if you are interested in a trip to Europe, BA Avios credit cards offer a good 2 for 1 Companion Voucher with a set number of miles for spend in 1 calendar year.
In Canada, it is $30,000 spend for a voucher though RBC bank.
It can only be used through BA metal however and usually comes with some fees.
Go local, pay by cash/check.
Points and cashback are free to you because the retailer pays the costs. Cut out the points middleman on a large purchase like this and you'll save cash in your wallet.
If you're willing to pay 18k to Blue Nile, pay 10k for a better stone from a wholesaler and use the 8k for the honeymoon. Forget about the 10,000-ish miles you could earn: that's peanuts.
combined with whatever you were going to spend on the honeymoon to begin with, that'd be one nice honeymoon. you might even be able to get decent paid J/F seats and earn some miles. plus, travel gets 2 points per dollar...
