The Blue Nile Credit Card is worth considering if you have a credit score around 640 and you’re planning a $500+ purchase from the online jewelry store that will take months to pay off. However, most people who can qualify for the Blue Nile Credit Card have better options available. 

Blue Nile’s credit card doesn’t have rewards, so you won’t earn points or cash back when you make purchases. Plus, the card’s financing promotions can sometimes lead to surprise costs, and the regular APR is very high. 

You can learn more about the Blue Nile Card below. If you’re interested in alternatives, you can check out our editors’ picks for the best 0% APR credit card offers. 

4 Key Things to Know About the Blue Nile Credit Card

No rewards.

The Blue Nile Credit Card does not cater to the segment of the store’s clientele who can pay for purchases in full within a single billing period, offering no rewards. That’s a shame because jewelry purchases can be big rewards-earning opportunities. For example, you’d save $20 on a $1,000 purchase if you use one of the market’s best rewards credit cards – even more if the purchase helps you qualify for a big initial bonus.
 

Standard store-card features.

The Blue Nile Credit Card is like nearly all other retailer-affiliated credit cards in the sense that it does not charge an annual fee and you only need fair credit to get it. And while such things don’t help differentiate the Blue Nile Card from the competition, both are positives.

If you don’t know where your credit stands, make sure to check your latest credit score for free on WalletHub. This will help you determine what other options you may have.
 

‘Special’ financing offers.

The Blue Nile Credit Card offers a 0% intro APR for six or 12 months on purchases of $500. Or you could get a 9.99% intro APR for 24 months with fixed monthly payments if you spend at least $1,000. But there is danger lurking beneath the Blue Nile waters, and it could take quite a bite out of your budget.

More specifically, the Blue Nile Credit Card's 0% offer has a feature called deferred interest that allows interest charges to retroactively apply to your entire original purchase amount, like the low intro rate was never there. This can happen if you don’t repay your full balance during the intro period.

There’s no reason to risk that if you have good or excellent credit, as you have plenty of less-risky 0% cards to choose from. It’s not as clear-cut for folks with fair credit, though. And if you discover that the Blue Nile Card is the best financing option available to you, just make sure to plan your payments with a credit card calculator to avoid seeing your savings get swallowed up.
 

Shouldn’t be your first choice

Before resorting to deferred-interest financing, make sure to check out WalletHub’s picks for the best 0% credit cards, best balance transfer credit cards and best credit cards with low regular rates, depending on your particular needs.