Review: Sleep Number Credit Card

sleep-number-logoSelect Comfort, in partnership with Synchrony Financial, offers a Sleep Number credit card / financing program that lets you finance your Sleep Number bed without paying interest — but read the fine print! Our overview / review of the Sleep Number credit card is below:

Sleep Number beds are expensive; in most cases you’ll spend at least $2000 but very possibly more. In order to help you pay, Select Comfort offers various financing arrangements at 0% interest. You may get the chance to go a full 48 months making payments on your card with no interest being charged. If you take advantage of this offer and get all your payments made in full and on time, then it’s a good way to get a Sleep Number bed.

However, be careful. Your financing offer could be a “deferred interest” offer with language such as “No Interest if Paid in Full within 12 Months.” This does not mean you get 12 months at 0% and then the interest rate goes up on the remaning balance if you haven’t paid it off. Instead, it means you must pay off every penny of the purchase within that 12 months or you will be charged ALL of the interest that would’ve accrued from the original date of your purchase — as if the 0% offer had never existed!! And what interest rate would you pay in that case? 29.99%!!! You need to be very careful and make sure you completely understand what you are agreeing to if you use a Sleep Number credit card to buy your bed.

While there is an online application for the Sleep Number credit card, there is really no need to apply until you’ve actually decided on a bed and you’ve received a 0% financing offer.