Am I Allergic to My Husband?

I am having a life changing issue right now. You all know that I am IN LOVE with my wedding ring right? Well about 2 weeks ago directly under my ring a little red bump popped up. I thought it could be that my fingers were shrinking, as they do, during the winter so the ring was rubbing all up on my finger. I took it off for a few days to see if the bump would go away. 
It did not.
I started to get worried that I was allergic to the metal in the ring. I guess that's still a possibility. Jared thinks I am just freaking out, because my finger doesn't itch. It doesn't hurt at all. It's just this ugly little bump. It's so ugly that I feel like it makes my ring look less gorgeous. Rude bump.
Last night, after not wearing my ring for at least 3 million days (really it was only 3) I told my dad that I am pretty sure it's a sign that Jared and I aren't going to work out. I was only joking. My dad grabbed my finger and examined.
His thoughts are that it's an ingrown hair. He said he's had that happen with his wedding ring before, and I do have little hairs on my finger - so last night I tried this remedy I ready about online for an ingrown hair, and as of today this little bump is still here. What is happening to me!?
Have any of you had this happen? Does it look like an ingrown hair?