Miya Pearson
Sleep Number has partnered with Synchrony Bank to offer a credit card that allows customers to pay for their bed over time. The Sleep Number Credit Card offers promotional financing with convenient monthly payments, and cardholders can benefit from Sleep Number Rewards, early notification of sales and events, and a dedicated credit limit for their sleep needs. The card has a rating of 3.5/5 according to WalletHub's proprietary credit card rating system, with high scores for fees and cost, but a low score for rewards. It is worth noting that the Sleep Number Credit Card can only be used for purchases at Sleep Number locations and their online stores.
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What You'll Learn
Sleep Number Credit Card benefits
The Sleep Number Credit Card is a store card that can be used for purchases at Sleep Number locations and their online stores. The card offers several benefits to its users, including:
Promotional Financing
Cardholders can take advantage of promotional financing offers with convenient monthly payments. This includes access to everyday promotional financing of 24 months or more on all purchases. There are also limited-time offers available, such as 0% interest for 12-60 months on qualifying purchases and 0% APR for 36 months on qualifying purchases of at least $3,000.
Sleep Number Rewards
The Sleep Number Credit Card provides access to Sleep Number Rewards, allowing cardholders to earn rewards on their purchases.
Early Notification of Sales and Events
Cardholders receive early notifications of sales and events, along with special offers, helping them save on their purchases.
Dedicated Credit Limit
The card offers a dedicated credit limit specifically for sleep-related purchases, ensuring that cardholders can meet their sleep needs without financial constraints.
Payment Security
The Sleep Number Credit Card provides an optional Payment Security program that offers payment protection to cardholders when they need it the most.
Digital Account Management
Cardholders can take advantage of digital account management through the MySynchrony Mobile App, which allows them to manage their credit cards and make secure payments conveniently from their mobile devices.
Credit Score Tracking
The Sleep Number Credit Card provides cardholders with tools to view, track, and improve their credit scores, helping them stay on top of their financial health.
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Sleep Number Rewards Program
The Sleep Number Rewards program is a loyalty program for owners of Sleep Number smart beds. As a Sleep Number smart bed owner, you are automatically enrolled as a lifetime member of the Sleep Number Rewards program. The program offers several benefits, including:
- Exclusive Smart Sleeper discounts
- Savings to share with friends and family
- Opportunity to earn up to $1,000 in Sleep Number reward certificates when you refer someone who purchases a Sleep Number smart bed
- Ability to earn points by participating in activities through the Sleep Number Rewards program, which can be redeemed for rewards towards Sleep Number purchases
- Access to sweepstakes with various rules and prizes
To earn points, you can participate in various activities through the Sleep Number Rewards program. These activities can include leaving reviews, referring friends, and more. Points have no monetary value, but the rewards you earn can be redeemed towards any Sleep Number purchase. You can keep track of your points and rewards through your Sleep Number Rewards program account.
In addition to the Sleep Number Rewards program, Sleep Number also offers a credit card through Synchrony Bank. This card provides promotional financing offers with convenient monthly payments and access to Sleep Number Rewards. It's important to note that the Sleep Number Credit Card can only be used for purchases at Sleep Number locations and their online stores.
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Applying for the Sleep Number Credit Card
The Sleep Number Credit Card is issued by Synchrony Bank and is designed to help you finance your purchases at Sleep Number. This card can be a good option if you frequently shop at Sleep Number and are looking for special financing offers. Here's a step-by-step guide to applying for the Sleep Number Credit Card:
- Understand the Requirements: Synchrony Bank typically recommends a minimum credit score of 630 for approval. However, it's important to note that this is just a guideline and not a guarantee of approval. They will also consider other factors such as your income, debt levels, and any negative items on your credit report.
- Prepare Your Application: Before applying, obtain your credit scores from the three major credit bureaus (Equifax, Experian, and TransUnion) through AnnualCreditReport.com. Review your credit history, ensure timely payments, and maintain a low credit utilization rate (aim for below 30%).
- Apply Online: Visit the Synchrony Bank website or the Sleep Number Credit Card application page to start your application process. You will need to provide personal and financial information, including your name, address, income, and Social Security number.
- Compare Alternatives: While considering the Sleep Number Credit Card, take the time to compare it with other credit card options available in the market. Evaluate the terms, fees, rewards, and benefits offered by competing cards to make an informed decision.
- Review the Card Benefits: The Sleep Number Credit Card offers promotional financing options, such as 0% - 7.49% intro APR for 12 - 60 months on qualifying purchases. It also provides access to Sleep Number Rewards and early notification of sales and events with special offers.
- Submit Your Application: Once you have completed the application and reviewed the terms and conditions, submit your application for review. Synchrony Bank will evaluate your application and determine your approval status.
- Await the Decision: After submitting your application, wait for Synchrony Bank to process your request. They may contact you for additional information or documentation if needed. The approval process may vary in duration, depending on individual circumstances.
- Activate Your Card: If your application is approved, you will receive your Sleep Number Credit Card. If the card has a sticker on the front, call the number listed to verify your information and activate your account before use.
Remember to read the terms and conditions carefully and understand the card's limitations, such as its exclusive use for Sleep Number purchases. Additionally, staying informed about customer reviews can provide insights into the card's benefits and potential challenges.
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Accepted credit scores
The Sleep Number Credit Card is issued by Synchrony Bank and can only be used for purchases at Sleep Number locations and their online stores. The card offers promotional financing with convenient monthly payments, allowing cardholders to pay for their beds over time.
In terms of accepted credit scores, the Sleep Number Credit Card caters to a range of credit profiles. According to WalletHub's rating system, the card has been rated 3.5/5 overall, with a score of 5/5 for fees, 0/5 for rewards, 3.8/5 for cost, 3.1/5 for APR, and 3.1/5 for user reviews. The card is suitable for individuals with excellent, good, or fair credit scores.
The Sleep Number Credit Card provides promotional financing offers, such as 0% - 7.49% intro APR for 12 - 60 months, followed by a 34.99% APR after the introductory period. Additionally, there is a limited-time offer of no interest if the balance is paid in full within 12 months on qualifying purchases or within 24 months on all Sleep Number smart beds.
It's important to note that the Sleep Number Credit Card is a store card, meaning it is not backed by a major credit card network and is restricted for use only at Sleep Number-affiliated locations. Despite this limitation, the card can still be advantageous for brand-loyal customers who frequently shop at Sleep Number.
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Cancelling the Sleep Number Credit Card
If you have a Sleep Number Credit Card and are considering cancelling it, there are a few things you should know and keep in mind. Firstly, you can cancel your Sleep Number Credit Card at any time by logging into your online account or by calling customer service at (800) 250-5411. It is important to be aware that if there is an outstanding balance on your card, you will still need to make the minimum monthly payments until the balance is fully paid off. Therefore, it is advisable to ensure that you do not have any remaining balance before initiating the cancellation process.
Additionally, if you have any recurring charges or subscriptions linked to your Sleep Number Credit Card, you will need to update your payment method for those services. Cancelling your Sleep Number Credit Card may also have an impact on your credit score, depending on the card's credit limit and the length of time you have had the card. In general, closing a credit card account can negatively affect your credit score in the short term, especially if it reduces the total credit limit across your credit cards or decreases the average age of your credit accounts.
Before making a decision, it is recommended to carefully consider your financial situation and goals. If you no longer intend to make purchases at Sleep Number and want to avoid the potential negative impact on your credit score, cancelling the card may be a reasonable option. However, if you frequently shop at Sleep Number and take advantage of their special financing offers, keeping the card might be more beneficial.
Ultimately, the decision to cancel your Sleep Number Credit Card depends on your individual circumstances and financial priorities. By evaluating your needs and understanding the potential consequences, you can make an informed choice that aligns with your financial goals.
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Frequently asked questions
The Sleep Number credit card is not a necessity, but it does have benefits for frequent Sleep Number shoppers.
The Sleep Number credit card offers promotional financing with convenient monthly payments, access to Sleep Number Rewards, early notification of sales and events with special offers, and a dedicated credit limit for your sleep needs.
You can apply for the Sleep Number credit card online through Synchrony Bank.
No, the Sleep Number credit card can only be used for purchases at Sleep Number locations and their online stores.
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