Tiffany Time Account....anyone know much about this?

[Dreamgirl]

Hello fellow PS''ers!

I was wondering if anyone knows much about the Tiffany Time Account. I know that it is an interest-free payment option but nothing more. Have any of you used this before at Tiffany?

 

[Dreamgirl]

Bump!

Still wondering. I know there were serveral Tiffany purchases in the past couple of months....

 

[MonkeyPie]

I know that most of the ladies here don''t buy anything unless they have the total cash in their hands, so that is probably why you don''t have any responses. I''d suggest calling Tiffany to see what they say

 

[Mayflower25]

Hi Dreamgirl,

I haven''t used the Tiffany Time Account, but I know a bit about it. Generally, its only offered for fine jewelry purchases and Tiffany''s will extend you interest-free credit for up to 12 months, at which point you must pay the balance in full. If the balance is not paid by the designated date, then you''ll be stuck with accrued interest charges on the entire purchase. Again, depending on the amount of the purchase, Tiff''s will offer you a longer or shorter credit period.

In previous years, the credit period was more generious, but recently they''ve become much more strict. I recommend that you speak with your Tiffany sales associate to see what they can do for your purchase.

My FI considered using their credit plan, but didn''t think it was worth opening up yet another account, since it does affect your credit rating.

Hope this helps!
Mayflower

 

[goldenstar]

I worked at Tiffany''s once upon a time and I remember a few things. First, you have to already have a charge account with them (i.e. credit card) for this to be an option. Second, there is a minimum purchase amount that you need to meet to use the Tiffany Time structure (I think $5000?). Third, I believe you have to pay a certain amount up front (like a down payment). Fourth, there is a maximum time for repayment, I think no more than 12 months.

Check with Tiff''s for the specifics. The whole time I worked there I never handled a Tiffany Time purchase so don''t quote me on the above.

 

[blondebunny]

hey i didnt see this before.. but I can tell u from our experience.. you get 6 months for anything under 10k..but if u go over you can get either 9 or 12 months.. the downpayment is COMPLETELY on your credit score, so it depends, its could be anything from 25% to 30% they said, oh and u get a pretty tiff blue card hehe

 

[Dreamgirl]

Thank you ladies for your replies! This was something the SA mentioned to us a while back ago when we were looking but we didn''t discuss it, she had only mentioned it. It seems like it could be easily paid off if you made the payments. Im not sure if he would pay full for the ring or not, or even what his budget will be, but this is a nice option to have anyway.

Thanks again!

 

[FireGoddess]

Not sure if this is the same thing - got a ring at Tiff's a few years back and did this - put down a down payment and the rest was on the Tiff's no interest card. The pay back time period was 6 months and we got a bill in the mail every month for 1/6 of the total that was due. Easy peasy.

 

[AStack75]

Not sure if it''s called a Tiffany Time Account, but I opened a line of credit through T&Co. for my FI''s e-ring.

The way it worked for me is I put 25% down and paid the rest off in 12 monthly payments at 0% interest.

 

[Dreamgirl]

Yes, that is exactly it! It''s surely a nice option to have.