Hello all,

I financed my $2k mattress so I could do monthly payments at 0% interest for a year. It came in handy when I would later buy a used Toyota with cash and had that money on hand. Mattress Firm set me up with a $10,000 limit card (wild) that is zero percent interest first year than some ungodly interest after that. Synchrony is the company that issues the credit.

Obviously, that much of a limit and interest is predatory towards people without financial literacy, but I’ve set up auto payments. All is going well I’ll be paid off soon.

When I’m paid off, should I cancel the card? Won’t need a new bed for 10 years, and it’s only good at mattress firm. seems like keeping it open would just be a potential fraud risk. Does canceling make my credit go down? Up? My FICO is 794.

Cheers from my comfy temperpedic

I have a Mattress Firm store credit card through Synchrony Bank that has a Synchrony Home logo on the card. I don't want this card to close as I have had this for awhile and know they are notorious for closing cards for inactivity. Different articles I read say that I can only use this at Mattress Firm. I called in to inquire about using this elsewhere and was told that this was only for Mattress Firm. However, I mentioned that there is a Synchrony Home logo on the card and then they became unsure of their answer. As there is a separate website that shows where Synchrony Home cards can be used. But not sure if this is for full fledged Synchrony Home cards or if my Mattress Firm card can be used. Can someone please advise if this can be used elsewhere? And if so, how does financing work at the other stores? Thanks in advance!

I called Mattress firm to see what are the options for buying a Mattress around the $1,000-1,200 range. They gave me the options of lease to own (which would double the price of the mattress by the end) or apply with Synchrony for 0% interest 0 fee option. The guy said you would be opening a line of credit of $5,000 if I got approved and then you would make monthly payments on the mattress. Now if the mattress is $1,000 and I pay it off in 12 months, what happens to the other $4,000 that was opened with the credit? This is where I get lost because I don’t want to keep the credit card open when I’m done making the payments to the mattress. So, am I allowed to close it after? Will this affect my credit score negatively after I’m done making payments to the mattress?

Hi all! Last black Friday I went to go purchase a mattress at Mattress Firm and I applied for a store credit card to finance it. I was approved while in the store and the sales rep put the order through. It has now been a week later and my mattress is being delivered tomorrow, but I've received a letter dated a day after the mattress purchase saying Synchrony bank is unable to approve my card. What is going to come of this since the mattress is still coming tomorrow? I called Mattress Firm to confirm that it wasn't cancelled or anything and it definitely sounds like they got paid?