How to Finance a New Mattress

If you do not have a mattress, or your current mattress shows signs of wear, it may be time for a new mattress. Getting a new mattress can be a bit overwhelming as mattresses can be fairly expensive, with some sets costing over $1,000. If you are worried about how to pay for a new mattress, you can finance it so that you can get the mattress that you need today. When you are ready to purchase the mattress, you may find that you have a couple of financing options to help you spread out that new mattress's cost over time.

Credit card

Instructions

- 1
  Visit local mattress stores to pick out the mattress that you are interested in purchasing. Inquire if the company has in-house financing for the purchase. Some furniture stores or department stores that sell mattresses have in-house financing or a store credit card with which you can finance the new mattress.
- 2
  Fill out a credit application if the store offers new mattress financing. Name, date of birth, Social Security number, financial details and current address are all required on credit applications.
- 3
  Review the financing terms before purchasing the mattress. Some offers include a set number of days when there is no interest charged on the purchase, while others have a set interest rate. Pay special attention to the financing interest rate, which can be over 20 percent.
- 4
  Use a regular credit card to finance the new mattress if you get a better interest rate. You can use a regular Visa, MasterCard, American Express or Discover Card to finance the mattress if the store accepts your card type. In some instances, the interest rate on your credit card may be a better rate than the store financing rate.
- 5
  Make regular monthly payments on your mattress financing line or credit card to pay off the mattress's purchase.

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