topic Re: buying a bed with credit or cash? in Credit Cards

buying a bed with credit or cash?

TheRealJosh94 — Sat, 18 May 2013 05:07:02 GMT

Hello eveyone,

This question may seem kinda weird to ask, but I'll ask anyway. My current bed is a horrible to sleep on, and I've been on the market for a new one. The "bed" store sleepy's has a bed that I really want. However, it's an expensive A$$ bed, but the lady told me that they're offering 0% apr for 48 months. I thought "too good to be true". I never bought a bed with a store credit card before. Should I go ahead and apply to the card and pay the bed off little by litte. I don't have full cash for a bed there until a few more months. Kinda undecided on what to do and I need your help!

Thanks again!

The link: http://www.sleepys.com/en/info/Financing/?051213Sale

Re: buying a bed with credit or cash?

Rackham94 — Sat, 18 May 2013 05:10:31 GMT

Is there a similar model you can purchase for less lol.

Did you get the best price possible? Typically stores like that have high margin and would be willing to cut a little off not a whole lot depending on how bad they want the sale.

Re: buying a bed with credit or cash?

Anonymous — Sat, 18 May 2013 05:14:19 GMT

@TheRealJosh94 wrote:
Hello eveyone,

This question may seem kinda weird to ask, but I'll ask anyway. My current bed is a horrible to sleep on, and I've been on the market for a new one. The "bed" store sleepy's has a bed that I really want. However, it's an expensive A$$ bed, but the lady told me that they're offering 0% apr for 48 months. I thought "too good to be true". I never bought a bed with a store credit card before. Should I go ahead and apply to the card and pay the bed off little by litte. I don't have full cash for a bed there until a few more months. Kinda undecided on what to do and I need your help!

Thanks again!

The link: http://www.sleepys.com/en/info/Financing/?051213Sale

You can.

However if you think you can pay it off within 12-21 months, you can go with other cards such as Chase Freedom, Slate, Citi Simplicity, etc.......

There's really no wrong answer as long as you can keep your finances under control.

Have you considered buying a bed elsewhere, such as Costco? You can even check out premium stores such as Bloomingdales, Nordstrom etc. The mattresses there aren't cheap, but the only reason why I'm mentioning Costco and these other stores is because they have a much better replacement / refund policy. Some mattresses sag after a few months, while some have really ridiculous warranty policies (i.e. asking u to ship a king sized bed to ohio in order to get a replacement LOL). If you somehow get another mattress that you don't like or have issues with, places such as Costco pretty much will have someone pick it up and issue you a refund / replacement with no questions asked. Of course, there's still some basic requirements that must be met, such as no bed bugs, no stains etc, but that's just basic hygiene practices.

Re: buying a bed with credit or cash?

TheRealJosh94 — Sat, 18 May 2013 05:16:31 GMT

Not really, I've been to quite a few show stores and it's about all the same. They compare prices with each other and sleep's so far was cheaper than other neighbor stores. However, Online is way, way cheaper! I'm the type to buy a good quality bed that would last me a good 10 or so years. That being said, serval online beds I've been researching and read some reviews saying that some beds were not lasting long, very poor, etc.

Re: buying a bed with credit or cash?

Anonymous — Sat, 18 May 2013 05:22:52 GMT

@TheRealJosh94 wrote:
Not really, I've been to quite a few show stores and it's about all the same. They compare prices with each other and sleep's so far was cheaper than other neighbor stores. However, Online is way, way cheaper! I'm the type to buy a good quality bed that would last me a good 10 or so years. That being said, serval online beds I've been researching and read some reviews saying that some beds were not lasting long, very poor, etc.

not trying to turn this forums into a mattress forums or mattress store, but from my experience its generally safer to buy a mattress made by a reputable company.

If you can spare some extra money, get at least the mid tier mattress from a reputable company.

The lowest tier Simmons / Serta / Sealy often have problems as well after 6-12 months. It's much more worth it to drop a little more money, and have a longer-lasting mattress.

By the way, are you buying a spring or latex of memory foam?

If you're on a budget and want a decent memory foam mattress, check out amazon.

My younger cousin whos in college bought this http://www.amazon.com/Sleep-Innovations-SureTemp-Mattress-Warranty/dp/B003CT37JM/ref=sr_1_6?ie=UTF8&qid=1368854405&sr=8-6&keywords=memory+foam+mattress

It's surprisingly decent for the amount of money it costs. If you have amazon prime, it'll be there in 2 days w/ zero shipping charges as well. And for the price it costs......you can throw it out w/o any heartache if it does spoil in a couple of years

Re: buying a bed with credit or cash?

TheRealJosh94 — Sat, 18 May 2013 05:24:53 GMT

Haha yeah I'll do more research about it! But I'll appreciate all your help, Thank alot!

Re: buying a bed with credit or cash?

Anonymous — Sat, 18 May 2013 05:26:05 GMT

check out resources such as sleeplikethedead

they helped me a lot. if you're in doubt about what you really want, buy it from costco. you can basically keep exchanging until you get one you're happy with.

Re: buying a bed with credit or cash?

JustMe77 — Sat, 18 May 2013 07:31:52 GMT

I wouldn't use their financing, because it's not the sort of account that would grow with you over time.

More importantly, I wouldn't buy the bed until you've saved up for it.

Re: buying a bed with credit or cash?

Anonymous — Sat, 18 May 2013 07:36:56 GMT

For sure shop around and do research.

I spent a lot of money on a bed, it is for sure comfortable...but I probably could have found a cheaper alternative.

This is the bed I got: http://www.tempurpedic.com/tempur-contour-collection/tempur-pedic-grandbed.asp got the matching foundation and pillows ect. ouch...I probably would have been okay with something like this: http://www.ebay.com/itm/New-15-Inch-Grand-Queen-with-7-5-Memory-Foam-Mattress-Bed-Free-Shipping-/110899059191?pt=Mattresses&hash=item19d21959f7

Just remember...it is just a bed

As long as it is comfortable...nothing else is important.

The brand does not matter. The look does not matter. Just make sure you can sleep on it.

Re: buying a bed with credit or cash?

Anonymous — Sat, 18 May 2013 07:42:18 GMT

Amazon has lots of choices as well.

It's best to always buy from a place that actually has an easy replacement / return / exchange policy.

I would honestly rather pay a lot more for a tempur-pedic bed than to buy it from some unknown seller on the internet, or to just buy another mattress entirely.

All mattresses break down, regardless of how expensive it is. Some break down faster, some last for a long time.

You want to buy something (applies to all products, esp electronics) that is backed by the manufacturer in good faith.

This is what I hate most: (Quoted from the ebay link dustink provided).
Customers have 90 days from the date of receiving the item to return the mattress. The 90 day trial period applies to mattresses only.

Mattresses must be in good-clean condition and you must have the receipt. All refunds will be issued upon receiving the shipment and the warehouse inspects the returned item. The customer is responsible for the packaging, shipping costs, and freight back to our warehouse. Customer is at liberty to use any means to ship the mattress back to us. All returns must be delivered to us before the 90 days. If the time limit is exceeded, your return will be refused.

Shipping a king sized mattress back to the seller is probably going to cost you at least half of what you already have paid for the bed.

Re: buying a bed with credit or cash?

DaveSignal — Sat, 18 May 2013 07:53:18 GMT

My bed:

http://www.ikea.com/gb/en/catalog/products/S89002430/

This, plus the mattress was £465, about $720. So its cheap, comfortable, and it looks simple and modern in the bedroom. Who spends $8000 on a bed? thats frivolous spending. Get your priorities in order.

Re: buying a bed with credit or cash?

Anonymous — Sat, 18 May 2013 08:04:42 GMT

@Anonymous wrote:
Amazon has lots of choices as well.
It's best to always buy from a place that actually has an easy replacement / return / exchange policy.
I would honestly rather pay a lot more for a tempur-pedic bed than to buy it from some unknown seller on the internet, or to just buy another mattress entirely.

All mattresses break down, regardless of how expensive it is. Some break down faster, some last for a long time.
You want to buy something (applies to all products, esp electronics) that is backed by the manufacturer in good faith.

This is what I hate most: (Quoted from the ebay link dustink provided).
Customers have 90 days from the date of receiving the item to return the mattress. The 90 day trial period applies to mattresses only.

Mattresses must be in good-clean condition and you must have the receipt. All refunds will be issued upon receiving the shipment and the warehouse inspects the returned item. The customer is responsible for the packaging, shipping costs, and freight back to our warehouse. Customer is at liberty to use any means to ship the mattress back to us. All returns must be delivered to us before the 90 days. If the time limit is exceeded, your return will be refused.

Shipping a king sized mattress back to the seller is probably going to cost you at least half of what you already have paid for the bed.

Ebay has much better policy's than most people think. No matter what the seller puts in their ad. Ebay will still take care of you. I had an incident were the seller said no refund, ebay said differently and even made the seller pay for return shipping.

I am not advising anyone buy that bed off ebay. Just instead to compare cost vs benefit. I got like 75% off my bed purchase. So, instead of paying like $10k I paid under $3k, still a lot vs $700 for an off brand. The mattress store I bought from lost tempurpedic not long after for offering too deep of discounts. Talk about margin's.

Also, save up your money so you can PIF the same month you make the purchase. Just use the card that offers the best rewards.

Re: buying a bed with credit or cash?

coldnmn — Sat, 18 May 2013 11:02:57 GMT

I bought one of these a few years ago . Love it! also bought the frame. http://www.walmart.com/ip/Spa-Sensations-12-Theratouch-Memory-Foam-Mattress-Multiple-Sizes/10086752 http://www.walmart.com/ip/Spa-Sensations-Steel-Smart-Base-Bed-Frame-Black-Multiple-Sizes/15739163

Re: buying a bed with credit or cash?

Mike360 — Sat, 18 May 2013 11:07:23 GMT

Sleepy's is overpriced. The 0% offer is nice and all but according to the site you gotta spend $2K min. to qualify for any 0% financing? Maybe i'm just too cheap.

Re: buying a bed with credit or cash?

jsickz32 — Sat, 18 May 2013 11:10:20 GMT

8k for a matress?? Whats!?

I got my queen size frame, headboard, and foam matress for 500 from amazon. Best bed ive had. Ive had it for a year now and it has seen war and still like the first day i got it...

Re: buying a bed with credit or cash?

TimeToRecover — Sat, 18 May 2013 11:34:43 GMT

Ironially enough it was buying a bed that got me started on my credit repair journey.

I had picked one I wanted and they also had a 24 month 0% so I was like ya I can easily pay it off in 2 years. So i went online and apped. I was denied and that is what started my journey. I was shocked cause I knew I had the forclousre but at that time it was 2 years old and I had "NOT USED ANY CREDIT AFTER" thinking that was the right thing to do. Well as we all know not using credit is as bad as bad credit.

So sorry I turned this into a long story. The store I was using the financing was via wells fargo and would have shown up on the CR as an installement loan. I don't think having it "grow" with you is the question here.

My advice is if you know for a fact you will be approved then I say go for it. The "loan" will show up on your CR and help your mix of accounts. Just ensure you truly pay it off before the 0% goes away or the interest from all 24 months will be added. You will take a HP.

Re: buying a bed with credit or cash?

Anonymous — Sat, 18 May 2013 12:12:47 GMT

@Anonymous wrote:
@Anonymous wrote:
Amazon has lots of choices as well.
It's best to always buy from a place that actually has an easy replacement / return / exchange policy.
I would honestly rather pay a lot more for a tempur-pedic bed than to buy it from some unknown seller on the internet, or to just buy another mattress entirely.

All mattresses break down, regardless of how expensive it is. Some break down faster, some last for a long time.
You want to buy something (applies to all products, esp electronics) that is backed by the manufacturer in good faith.

This is what I hate most: (Quoted from the ebay link dustink provided).
Customers have 90 days from the date of receiving the item to return the mattress. The 90 day trial period applies to mattresses only.

Mattresses must be in good-clean condition and you must have the receipt. All refunds will be issued upon receiving the shipment and the warehouse inspects the returned item. The customer is responsible for the packaging, shipping costs, and freight back to our warehouse. Customer is at liberty to use any means to ship the mattress back to us. All returns must be delivered to us before the 90 days. If the time limit is exceeded, your return will be refused.

Shipping a king sized mattress back to the seller is probably going to cost you at least half of what you already have paid for the bed.

Ebay has much better policy's than most people think. No matter what the seller puts in their ad. Ebay will still take care of you. I had an incident were the seller said no refund, ebay said differently and even made the seller pay for return shipping.

I am not advising anyone buy that bed off ebay. Just instead to compare cost vs benefit. I got like 75% off my bed purchase. So, instead of paying like $10k I paid under $3k, still a lot vs $700 for an off brand. The mattress store I bought from lost tempurpedic not long after for offering too deep of discounts. Talk about margin's.

Also, save up your money so you can PIF the same month you make the purchase. Just use the card that offers the best rewards.

Yea I understand what you mean, but the problem is that the steps that you listed isn't an easy nor painless nor guaranteed process.

There's no guarantee eBay is going to take care of my purchase and refund me the money. The buyer protection has specific guidelines and in some ways it is limited. Most credit card companies (especially visa signature, World Elite MC, American Express and Discover cards) offer much better, or at least of the same level, protection for customers.

Secondly, while such occurances might be rare, I would like to avoid getting into a pissing contest with the seller at all cost. It's time consuming, frustrating, and just a waste of energy really. As such, whenever I am shopping on ebay, I would only buy stuff that I know I absolutely will not return or have problems with, and I will also buy shop from established sellers.

Thirdly, those scammers on eBay. While they're in the minority, they still exist and continue to pose a problem to the overall experience. I had to file a dispute through Wells Fargo because of a fraudulent seller that never sent the item out after receiving payment. While I finally won the dispute after 90 days, my account was labelled as "in dispute" on EX and TU (didn't list on EQ for some reason) and I had to pretty much explain to underwriters in recon dept, on several occassions (Barclays, Chase CSP, American Express) about why my highest CL tradeline (at that time) was labelled as in dispute. I had to jump through all these hoops over a stupid fraudulent seller from China who just had to scam me of $50 for god knows why.

Lastly, compared to shopping at Amazon, or even when compared to Best Buy, which is notorious for **bleep** customer service....... Trying to resolve issues on and/or through eBay is just a lot more trouble. I could just go online, select return, print a label (or have UPS come pick it up), drop it off, and wait for my refund. For certain online retailers (i.e. newegg with shoprunner) or certain purchases, there's not even a need to pay for return shipping. For eBay I'm pretty much forced to pay for return shipping most of the time even when the item arrives defective. Also, the time and trouble it takes to actually talk a live human being at eBay is just ridiculous. Most email replies from eBay are copy and paste templates that most of the time doesn't even remotely answer the questions.

That being said, eBay has its pros and cons, but for me personally the negatives far outweigh any benefits.

Finished typing and realized I typed a wall of text. Sorry for ranting lol.....

And sorry for hijacking OP's thread :/

Re: buying a bed with credit or cash?

Anonymous — Sat, 18 May 2013 12:34:57 GMT

@DaveSignal wrote:

Who spends $8000 on a bed? thats frivolous spending. Get your priorities in order.

That is just rude! I'm sure everyone has some spending that looks to others like frivolous spending. And if, for example, the OP has a sleep disorder, getting the right bed could be the #1 priority. And even if it is just luxury spending, that's up to the OP, who was just asking a perfectly reasonable question of how to finance a purchase....

Re: buying a bed with credit or cash?

DaveSignal — Sat, 18 May 2013 14:22:41 GMT

@Anonymous wrote:
@DaveSignal wrote:
Who spends $8000 on a bed? thats frivolous spending. Get your priorities in order.
That is just rude! I'm sure everyone has some spending that looks to others like frivolous spending. And if, for example, the OP has a sleep disorder, getting the right bed could be the #1 priority. And even if it is just luxury spending, that's up to the OP, who was just asking a perfectly reasonable question of how to finance a purchase....

OK. For the OP, who has little cash and is just starting to build a credit profile, my credit advice is that luxury spending on items with pricetags in the thousands of dollars might not be a financially logical purchase and has a possibility for creating monetary difficulties and future credit problems.

But, if this bed is so important that you are willing to spend the next 2 years paying for it (if you can pay it off before the 0% ends), then by all means, apply for the store card. If you don't get approved, apply for some other credit cards with intro offers. If you can get a card with a large enough credit limit to cover the purchase, just max it out with your purchase and take your time paying for it, so that your other bills don't go unattended. This won't be great for your credit score, but you will have a nice bed.

Re: buying a bed with credit or cash?

Anonymous — Sat, 18 May 2013 15:52:06 GMT

Yea I understand what you mean, but the problem is that the steps that you listed isn't an easy nor painless nor guaranteed process.
There's no guarantee eBay is going to take care of my purchase and refund me the money. The buyer protection has specific guidelines and in some ways it is limited. Most credit card companies (especially visa signature, World Elite MC, American Express and Discover cards) offer much better, or at least of the same level, protection for customers.

Secondly, while such occurances might be rare, I would like to avoid getting into a pissing contest with the seller at all cost. It's time consuming, frustrating, and just a waste of energy really. As such, whenever I am shopping on ebay, I would only buy stuff that I know I absolutely will not return or have problems with, and I will also buy shop from established sellers.

Thirdly, those scammers on eBay. While they're in the minority, they still exist and continue to pose a problem to the overall experience. I had to file a dispute through Wells Fargo because of a fraudulent seller that never sent the item out after receiving payment. While I finally won the dispute after 90 days, my account was labelled as "in dispute" on EX and TU (didn't list on EQ for some reason) and I had to pretty much explain to underwriters in recon dept, on several occassions (Barclays, Chase CSP, American Express) about why my highest CL tradeline (at that time) was labelled as in dispute. I had to jump through all these hoops over a stupid fraudulent seller from China who just had to scam me of $50 for god knows why.

Lastly, compared to shopping at Amazon, or even when compared to Best Buy, which is notorious for **bleep** customer service....... Trying to resolve issues on and/or through eBay is just a lot more trouble. I could just go online, select return, print a label (or have UPS come pick it up), drop it off, and wait for my refund. For certain online retailers (i.e. newegg with shoprunner) or certain purchases, there's not even a need to pay for return shipping. For eBay I'm pretty much forced to pay for return shipping most of the time even when the item arrives defective. Also, the time and trouble it takes to actually talk a live human being at eBay is just ridiculous. Most email replies from eBay are copy and paste templates that most of the time doesn't even remotely answer the questions.

That being said, eBay has its pros and cons, but for me personally the negatives far outweigh any benefits.

Finished typing and realized I typed a wall of text. Sorry for ranting lol.....
And sorry for hijacking OP's thread :/

*Continues hijack

Amazon blacklisted me after they sent me the wrong item too many times. Like ordered an extension cord and received a vinyl record with an obscene album cover.

I have never had a problem with ebay. You can open a case right on their site from the standard send message dialog. It takes care of things no problem. If there is something that requires a phone call, they call you.

If you have a problem with a third party amazon seller, they just try to say "that is not us you have to deal with them." They even try to deny that "wearhouse deals" is them. So, they try to stiff you on customer service for a problem with wearhouse deals.