What the Select Comfort Credit Card Is
The Select Comfort Credit Card is a store card issued by Synchrony Bank that you can use at Sleep Number stores and online. It works like most retail credit cards: you use it to buy mattresses, bedding, and Sleep Number products, and you pay back what you spend with interest unless you pay in full each month.
This card is not a general-purpose card you can use anywhere. It only works at Sleep Number locations. If you're thinking about getting one, you should understand what rewards or financing offers come with it, what the interest rate is, and whether the terms match how you actually shop.
Key Takeaways
- The Select Comfort Credit Card can only be used at Sleep Number stores and on their website, not at other retailers.
- Synchrony Bank issues the card and handles billing, so your monthly statement and payment go through their system.
- The card may offer promotional financing periods (such as no interest for a set number of months on purchases over a certain amount), but these terms change and you should confirm the current offer before you open the account.
- Like all credit cards, late payments will be reported to credit bureaus and can lower your credit score.
- You can check whether you're pre-approved and see the card's current terms by visiting the Sleep Number website or asking in-store.
How to Get the Card and What Happens When You Open It
You can start the process at a Sleep Number store or on their website. A sales associate or the online form will ask for your name, address, date of birth, Social Security number, and income. Synchrony Bank will then check your credit report to decide whether to approve you and what interest rate to offer.
The approval decision usually comes back within minutes if you explore in-store or online. If you're approved, you'll receive your card in the mail within 7 to 10 business days. Once it arrives, you can set up it by calling the number on the back or through the Synchrony mobile app, and then you can use it right away at Sleep Number.
If you're denied, Synchrony will send you a letter explaining why. You can dispute the information on your credit report if you believe something is wrong, or you can wait and reapply later if your credit situation has improved.
Interest Rates and Fees You Should Know About
The interest rate (called the APR, or annual percentage rate) depends on your credit score and credit history. Synchrony will tell you the rate when you're approved. Rates for store cards like this one are typically higher than rates for general-purpose credit cards, often ranging from the mid-teens to the mid-20s, but the exact rate you receive is based on your individual credit profile.
The card may not charge an annual fee to hold it, but you should confirm this when you open the account, as terms can vary. However, you will pay interest on any balance you don't pay off in full by the due date each month. If you make a late payment, Synchrony may charge a late fee and report the late payment to credit bureaus, which can hurt your credit score.
Some promotional offers (such as deferred interest on large purchases) may come with conditions. For example, if you don't pay off the full promotional balance by the end of the interest-free period, you may owe all the interest that was deferred, even if you've paid down part of the balance. Read the terms carefully before you make a purchase under a promotional offer.
Promotional Financing Offers
Sleep Number and Synchrony often run promotional financing offers on the Select Comfort Credit Card. These might include no interest for 12 months on purchases over $2,000, or similar terms. The exact offer changes, so you should ask what's current when you explore or before you make a large purchase.
To use a promotional offer, you usually have to make the purchase during the promotional period and meet the minimum purchase amount. Your monthly payment will be calculated so that if you pay on time each month, you'll pay off the balance by the end of the promotional period without owing interest.
If you miss a payment or don't pay off the balance in full by the end of the promotional period, the deferred interest kicks in. This means you'll owe interest on the original purchase amount, calculated from the original purchase date, not from the end of the promotional period. That can add up quickly, so set a reminder to pay off the balance before the promotion ends.
How to Manage Your Account and Make Payments
Once your card is active, you can manage your account through the Synchrony mobile app or on their website at mysynchrony.com. You'll log in with your card number and a password you create. From there, you can view your balance, see your transaction history, make payments, and set up automatic payments.
Your monthly statement will show your balance, the minimum payment due, the due date, and the interest you've been charged. The minimum payment is usually a small percentage of your balance, but paying only the minimum means you'll pay interest and take much longer to pay off what you owe.
You can pay your bill online, by phone, by mail, or through automatic payment. If you set up automatic payments, you can choose to pay the full balance, the minimum payment, or a fixed amount each month. Paying the full balance each month means you won't pay any interest.
When a Store Card Makes Sense and When It Doesn't
A store card can make sense if you shop at Sleep Number regularly and plan to use a promotional financing offer to make a large purchase. If you're disciplined about paying off the balance before the promotion ends, you can save money on interest.
A store card usually doesn't make sense if you only shop at Sleep Number occasionally, if you already have credit card debt, or if you're not confident you can pay off a promotional balance in time. Store cards typically have higher interest rates than general-purpose credit cards, so carrying a balance is expensive. Also, because the card only works at one store, it won't help you build credit history as broadly as a card you can use everywhere.
If you're considering this card mainly for the promotional offer, do the math first. Calculate what you'll owe in interest if you don't pay off the balance in time, and make sure the savings from the promotion are worth the risk.
What Happens to Your Credit Score
Opening a new credit card will cause a small, temporary dip in your credit score because Synchrony will check your credit report (called a hard inquiry). This dip usually recovers within a few months.
Once the account is open, your payment history and credit utilization (how much of your available credit you're using) will affect your score. Making on-time payments helps your score. Carrying a high balance or making late payments hurts it. Because this is a store card with a lower credit limit than a general-purpose card, using it for a large purchase can push your utilization high, which can temporarily lower your score.
Synchrony reports your account activity to the three major credit bureaus (Equifax, Experian, and TransUnion), so your payment history on this card will show up on your credit report and factor into your credit score.
Frequently Asked Questions
Can I use the Select Comfort Credit Card anywhere besides Sleep Number?
No. This card only works at Sleep Number stores and on sleepnumber.com. It's a store card, not a general-purpose credit card. If you need a card you can use at multiple retailers, you'll need a different card.
What's the credit limit on this card?
Your credit limit depends on your credit score, income, and credit history. Synchrony will tell you your limit when you're approved. Store cards often have lower limits than general-purpose cards, so don't assume it will be high enough for a very expensive mattress purchase.
What if I can't pay off the promotional balance before the interest-free period ends?
You'll owe all the deferred interest on the original purchase amount, calculated from the purchase date. Contact Synchrony before the promotion ends to discuss your options. Some cardholders can negotiate a payment plan, but there's no may provide. The best approach is to only use a promotional offer if you're confident you can pay it off in time.
How do I dispute a charge on my Select Comfort Credit Card?
Call the number on the back of your card or log into your Synchrony account online and report the dispute. Synchrony will investigate and typically respond within 30 days. Keep records of your purchase and any communication with Sleep Number in case you need to provide evidence.
Can I transfer a balance from another credit card to the Select Comfort Card?
Most store cards, including this one, do not offer balance transfer options. You can only use this card to make new purchases at Sleep Number. If you want to move debt from another card, you'll need to look for a different card that offers balance transfers.