@lmfields84 wrote:LOL! I don't know yet, he is picking it up tomorrow. Hopefully it is worth the money- the sticker shock almost killed my husband! I tried to tell him mattresses are not cheap! I called GEC and the rep told me it would be reported as revolving- $1000 limit, but maxed out with the bed purchase of course. We have a walmart card ($500) with no balance and a NFCU Visa Siggy with $14k, we PIF each month, but the balance reporting this month will probably be about $2500. I just hate seeing any dings on score for something small!
It will normalize with payments. Don't worry. This is what credit is for. 
Once you have some great sleep filled nights you'll be like I'd do this again each day of the week if need be! lol
Imo, u dint do anything stupid.
As others have mentioned, that one HP is worth it as u got the financing unless u had planned to open some other really prime credit card soon. And also now u can split ur payments over time which wud feel much better than paying lumpsum.
As others have mentioned, that one HP is worth it as u got the financing unless u had planned to open some other really prime credit card soon. And also now u can split ur payments over time which wud feel much better than paying lumpsum.
@KennyRS wrote:
@lmfields84 wrote:LOL! I don't know yet, he is picking it up tomorrow. Hopefully it is worth the money- the sticker shock almost killed my husband! I tried to tell him mattresses are not cheap! I called GEC and the rep told me it would be reported as revolving- $1000 limit, but maxed out with the bed purchase of course. We have a walmart card ($500) with no balance and a NFCU Visa Siggy with $14k, we PIF each month, but the balance reporting this month will probably be about $2500. I just hate seeing any dings on score for something small!
It will normalize with payments. Don't worry. This is what credit is for.
Agreed. Good sleep is worth good money. After all, if you sleep for eight hours a night you are spending a third of your life on the mattress that you just bought, and it affects how you feel and perform the next day. I think that your HP was spent very well indeed!
Also, I am assuming that since you are married that you bought maybe a queen or bigger? If so, $1000 is a pretty good price for a bed that feels good. Congrats to you both.
^^^ I think so too, it was on sale. It's a memory foam bed that he fell in love with the moment he laid on it. I wanted the better model, which was more than double the price- but I took it as a sign to stay within what we can comfortably afford when they came back with only $1000 financing. The nice salesman actually knocked off the difference so we didn't have to pay anything out of pocket- it was originally $1099 plus tax ($1165). We would have had to come out of pocket another $1500.00 for the one I wanted! 
@lmfields84 wrote:^^^ I think so too, it was on sale. It's a memory foam bed that he fell in love with the moment he laid on it. I wanted the better model, which was more than double the price- but I took it as a sign to stay within what we can comfortably afford when they came back with only $1000 financing. The nice salesman actually knocked off the difference so we didn't have to pay anything out of pocket- it was originally $1099 plus tax ($1165). We would have had to come out of pocket another $1500.00 for the one I wanted!
I feel your pain. That darn mattress section of stores is brutal, cause once I find one that I like I don't ever want to move again.
@-NewGuy- wrote:
@lmfields84 wrote:^^^ I think so too, it was on sale. It's a memory foam bed that he fell in love with the moment he laid on it. I wanted the better model, which was more than double the price- but I took it as a sign to stay within what we can comfortably afford when they came back with only $1000 financing. The nice salesman actually knocked off the difference so we didn't have to pay anything out of pocket- it was originally $1099 plus tax ($1165). We would have had to come out of pocket another $1500.00 for the one I wanted!
I feel your pain. That darn mattress section of stores is brutal, cause once I find one that I like I don't ever want to move again.
I'm about to go through that next month sometime, but the way I look at it is it's something I'm going to keep for 10+ years and amortizing even the expected ~3K for a good mattress over 10 years is way less than I pay for stupid things, and sleep is arguably of the one if not the most important things in our lives. I put it as way more important than my car (and I live in a pretty terrible mass transit environment), and when I'm spending $30k on that, and a mattress is an order of magnitude cheaper when I consider sleeping well to be darned near close to priceless, here we go!
imfields: to reiterate what everyone has said, using your credit report is good for two things: 1) when it will save you money, and 2) when you need it right now and can't afford it otherwise. I put house, car, and bed into that "need" category when I can't just write a check for it, and in your case you hit both... ABSOLUTELY the right thing to do imo. Well done, seriously.
@lmfields84 wrote:^^^ I think so too, it was on sale. It's a memory foam bed that he fell in love with the moment he laid on it. I wanted the better model, which was more than double the price- but I took it as a sign to stay within what we can comfortably afford when they came back with only $1000 financing. The nice salesman actually knocked off the difference so we didn't have to pay anything out of pocket- it was originally $1099 plus tax ($1165). We would have had to come out of pocket another $1500.00 for the one I wanted!
I agree with everyone else. You got a good deal--a mattress you need and a comfortable and free payment solution. This was possible because you have good credit, and it won't impact your credit negatively. (Yes, your score will go down a little but then it will come up again). Our credit should work for us, not the other way around!
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