Wells Fargo & Co. said Tuesday that it has developed a credit card that jewelry retailers can offer to their customers to finance purchases.
Wells Fargo Financial National Bank, a $2.6 billion-asset Las Vegas subsidiary, issues the card. It lets jewelers offer a range of payment plans, including one with no interest and equal payments; one with low interest and longer payment terms; and one with a no-interest option and a minimum payment.
According to a Web site for the card, one of the advantages for the jeweler's customers is "the ability to reserve general-purpose credit cards for everyday purchases or unplanned expenses."
Wells Fargo customizes the card with the name of the jewelry store. Applications for the card can be taken in the stores and submitted to the San Francisco banking company online.