Premier Designs is a faith-based jewelry company that sells their products through independent contractors known as Jewelers.
In order to become a Jeweler, you need to invest in some up-front initial expenses, including inventory.
The Premier Designs credit card was created to help finance your new business by helping you pay for a lot of those initial startup costs, such as business supplies and inventory.
In this 2018 review, we’ll cover how the card works, how members can earn rewards and what special financing options may be available.
How the Premier Designs Credit Card Works
This is a niche card, designed specifically for Premier Designs Jewelers to finance their new business, so there are no rewards or savings available to consumers who aren’t working for the company.
To qualify, you have to be an active Premier Designs Jeweler.
One of the advantages of this card is the special financing options available for qualifying purchases, such as a deferred-interest promotional plan to help you avoid paying interest on a specific purchase.
As long as you pay for your purchase in full within the plan period, you won’t be charged interest.
If you are unable to do so, then you will be charged all of the interest accrued.
Cardholders may be offered the deferred-interest plan on purchases as:
- Medical Services
For all other purchases not covered under this deferred-interest program, the APR is 28.49%.
There is a 25-day grace period for new purchases for cardholders that pay their balance in full each month.
There is no annual fee for the card, but there is a late penalty fee ranging from $27 to $38 for tardy payments.
Get to the Good Stuff – the Points!
One of the main selling points to the Premier Designs credit card is the ability to earn points with purchases.
Jewelers are automatically enrolled in this program when they open their account, and earn one reward point for every dollar they spend on good or services.
To maintain eligibility for the program, cardholders must maintain an active status and be in good standing on their account.
Points are posted directly to your account and there is no maximum number of points that can be earned in a billing cycle.
Once you have earned at least 7,500 points, you can start redeeming them.
Points can be redeemed for catalogs, annual renewal fees and retail jewelry certificates.
For example, you can earn a $150 certificate with 7,500 points all the way up to a $3,000 certificate for 75,000 points.
You will want to stay on top of how many points you have and make sure you use them, since they expire two years from the date they were earned.
Because this card is specifically for Premier Designs Jewelers who want to accrue points, it’s tough to say how it compares vs. other credit cards.
But if you are a Jeweler who wants the opportunity to earn points towards rewards while making business purchases, this could be your best option.