Select Comfort Sleep Number Bed / Misleading and hidden info on financing!
I had been looking at the sleep number bed for some time and had received informational material from them. I was at Woodland Mall while waiting for my car to be worked on. I stopped in at the Select Comfort store in the mall looking for some more info before deciding if I wanted to buy. The store manager, Jean, took a great deal of time to work with me. I told her that at present I did not have the funds to purchase a bed. She suggested their financing.
I told her that I was recovering from Bankruptcy and probably would not qualify. She encouraged me to fill out the top half of a block form and she would check. I never paid too much attention to the form since I was sure they would not approve my request. A short time later jean comes up to me and tells me that i was approved for $3000 of credit. I say okay. Being a retail store I figure financing would be about 22%.
After making my selections and choosing the Queen 5000 bed which I was told was on special being a closeout bed. At no time was the financing package explained to me nor was I given any paperwork that outlined the terms. I just received a receipt and some business cards of the store manager. On the receipt it stated the customer agrees to pay according to the finance agreement. I did not think to ask about it thinking that it was similar to those of JC Penny's and Sears which I have had in the past. Jean also indicated that there was no interest for the first 90 days. I had explained to Jean that I only had approximately $100 a month available for payment and she assured me that the monthly payment would be less then that.
After the first 90 days was up I send in my payment on November 3rd. When I get next statement I see $200+ added to my account plus a late fee. I noticed that my payment was not credited to my account until November 12th. I contact Select Comfort and they tell me there is nothing they can do and in fact are very unresponsive to my complaint but instead instruct me to contact the finance company. In this case HC processing in Arkansas. They tell me that my payment must have got delayed in mail and therefore I am late. I find out that my finance rate is now 29.75%. In subsequent correspondence they tell me that I should have received information on the financing at time of purchase, which I did not. If I had been informed about the ridiculous terms I would have never purchased the bed. They also tell me that the 90 days without interest is a special. What good is it when I had clearly told the store manager Jean that I only had about $100 a month available for payments. In order to pay off without interest I would have had to be able clear more then $800 a month after all other obligations were satisfied. Clearly very deceptive and not straightforward in informing the consumer (me) about their financing terms.
I am very unhappy and even more so both Hc Processing and Select Comfort's lack of interest in trying to satisfy the customer. I worked in retail for several years and even when the customer was wrong we did what was necessary to make them happy even if it meant a complete refund.
My advice do not purchase a Select Comfort Bed using their financing. They are bent on cheating you. There on-line bill payment is bad as well. they only allow for electronic checks drawn from your checking account. They use a third party processing company so you are not credited with any payment until it clears with the thrid party vendor. Again this delay will cause you to be delinquent resulting in another late payment fee. Very Dishonest.
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