Financing with The Gem Nerd
Financing your jewelry or engagement ring purchase offers incredible flexibility and peace of mind, allowing you to secure that perfect piece without compromising your budget or waiting months to save up. With financing options, you can choose the jewellery of your dreams today while spreading the cost over manageable monthly payments, making luxury more accessible than ever. This approach is particularly valuable for engagement rings, where timing is often crucial – you won't have to delay your proposal or settle for a smaller stone while you save. Additionally, financing helps preserve your cash flow for other important expenses like wedding costs, honeymoon plans, or emergency funds, ensuring that your jewelry purchase enhances rather than strains your financial well-being.
Our partners at Humm Canada provide flexible financing plans of up to $30,000 through a quick, fully digital application process. Once approved, you'll receive a low-fixed interest, so you know exactly how much your repayments are every month.
How it Works
First, figure out how much of your purchase you want to finance! Is it the entire purchase, or just a portion? How does that fit into your budgeting?
Please reference the below chart for the different financing options and their repayment terms.
Once you are comfortable with your financing amount and monthly payments, you can use the quick and easy online portal to apply. Most applications are reviewed and decided upon within minutes, so there's no long wait! To apply, you'll need the following:
- Age of majority in province/territory of residence
- Canadian residence (must have physical residential address in Canada)
- Mobile number
- Email Address
- Credit Card or Visa / Mastercard Debit
- Online banking credential
Applying for humm will not affect your credit score if you are applying for a loan of under $17,500. When you apply, humm performs a "soft" credit check to assess your eligibility, which has no impact to your credit score. If you proceed with financing of $17,500 or higher, a "hard" credit check may be conducted. This hard check may show as a credit inquiry on the your credit score.
Payments can be set up to automatically bill to your chequing account on a scheduled monthly basis until the financing is paid off. Alternatively, you can manually make payments through the humm app or online account.
You can also pay off your humm financing plan early without any additional fees or charges. You will only pay the balance owed on the date you make the payment. You can do this by logging into your humm app or online account and make a payment for the amount of you outstanding balance.
How Do Refunds Work?
Full refunds will be returned to your method of payment, in full, 3-5 business days after the refund is initially processed.
Partial refunds will be applied to the end of your loan term. Your monthly payment amount will remain unchanged, but with fewer months of payment left.
What Happens If I Am Declined?
In some cases, humm is unable to provide the limit requested. Humm Canada uses proprietary technology to assess the application and provide the applicant with the best credit limit based on that assessment.
Any Questions?
Please contact us for more information on how we can help with your purchase!