Credit Cards for Blue Nile Purchases

[1fookntitefd]

Has anyone ever used a credit card with extra point benefits from Blue Nile or any other online vendor to buy a diamond? I have a Chase Sapphire Preferred Card and want to share with you all a strategy I am using to "save" money on a potential diamond purchase and get your thoughts. This credit card gives me a 6x point multiplier that I can use for travel (flights, hotel, and car rental) for ever dollar I spend with Blue Nile (and many other vendors). Also, if I spend over $3,000 within the first 90 days of opening the card I can get an additional 40,000 points. Further, the card has a 7% dividend yield. To determine the total dollar amount of savings, I would multiply the total number of points by 0.0125 to determine the total dollar value of rewards for travel.


As some of you are aware from my other thread, I am considering buying this stone from Blue Nile:

http://www.bluenile.com/build-your-own-diamond-ring?forceStep=DIAMONDS_STEP&track=NavEngStartWithDia#diamonds_forceStep=DIAMONDS_STEP|builder=BYOR|pid=LD03912479

This diamond is listed at $28,701.

Therefore, if I use my Chase Card I will get the following rewards for travel:
$28,701 x 6 = 172,206 points
points for spending $3k within 90 days = 40,000
7% annual dividend on purchase = 12,054
Total amount of points with this purchase: 224,260
Dollar amount that can be used for flight, hotel, and car rental: 224,260 x 0.0125 = $2,803.25

"True" cost of stone = $28,701 - $2,803.25 = $25,897

What do you guys think? Are there any other credit cards out there with benefits from any other online vendors that would help reduce the real costs of a diamond? Travel benefits are nice (the money from this transaction can be used towards a honeymoon)...

Disclaimer: I DO NOT work for chase or any other credit card company.

 

[qazwsx16]

I know this a slightly older thread (over 30 days), but I was curious about this too. My BoA card only gets me 1% on general purchases, so a the ring I'm purchasing will give me back a little over $50. Does anyone have any experience with this or advice when it comes to rewards with credit cards?

 

[HappyNewLife]

make sure to use ebates if you order from BN. You get another 2% in cash back! (not affiliated with ebates, I was just looking at BN to order a diamond myself).

 

[qazwsx16]

Ah unfortunately I'm going through JamesAllen, and I don't see them shown on their website

 

[SCARLETTE]

Some vendors quote a higher price for credit card purchases vs. "cash" payment options so you should take that into consideration as well.

 

[DiamondNovice814]

I'm also looking on Blue Nile. I have two CCs that give additional points. One gives 3 points and the other 5 points for purchasing through Blue Nile through their rewards site.

Be careful with this though, because both cards cap the limit of the purchase at $7,500.