Are you thinking about applying for the Mattress Firm Credit Card to finance your dream mattress? The minimum recommended credit score for this credit card is 630. However, there are ways to improve your chances of getting approved for this card, even if your credit score is slightly lower than the recommended minimum.
Preparing for Your Mattress Firm Credit Card Application
Before applying for a Mattress Firm Credit Card, it’s important to have a solid understanding of your credit scores and credit reports. Credit card issuers typically look for applicants with good credit, a steady income, and low credit utilization. To increase your chances of approval, take the following steps:
- Review your credit reports: Request a free credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion) to ensure there are no errors or discrepancies.
- Reduce your credit utilization: Aim for a credit utilization ratio below 30%. This means not using more than 30% of your available credit limit. High credit utilization can signal that you may struggle to repay your debts.
- Limit new credit applications: Applying for multiple credit cards or loans within a short period can lead to multiple hard inquiries on your credit report, which can negatively impact your credit score. Space out your credit applications and limit the number of new accounts you open.
- Pay bills on time: Late payments can significantly affect your credit score. Ensure that you pay all your bills on time to establish a positive payment history.
- Dispute errors on your credit report: Incorrect information on your credit report can harm your credit score. If you find any errors, dispute them with the credit bureaus to have them corrected.
Improving Your Credit Score with Professional Help
If you’re struggling with a low credit score and need assistance to improve it, consider seeking professional help. Credit repair companies, such as Lexington Law, specialize in disputing and potentially removing negative items from your credit report. These items may include:
- Late payments
- Charge offs
Lexington Law has over 18 years of experience in the credit repair industry, with a proven track record of success. In 2021 alone, they achieved over 6 million removals for their clients. By enlisting the help of a reputable credit repair company, you can work towards improving your credit score and increasing your likelihood of getting approved for the Mattress Firm Credit Card.
To get started, consider reaching out to Lexington Law for a free credit consultation. A credit repair specialist will review your credit report, identify areas for improvement, and develop a customized plan to help you achieve your credit goals.
Alternative Financing Options
If you’re unable to qualify for a Mattress Firm Credit Card, don’t lose hope. There are alternative financing options available that can help you purchase your dream mattress:
- Store financing: Many mattress stores offer in-house financing plans, which may have less stringent credit requirements than a credit card. Be sure to read the fine print and understand the terms and conditions before committing to any financing plan.
- Personal loans: Depending on your credit score and financial situation, you may qualify for a personal loan with a lower interest rate than a credit card. Shop around for the best rates and terms, and consider using a loan comparison tool to simplify the process.
- Layaway: Some mattress retailers may offer layaway plans, allowing you to make incremental payments over time towards the purchase of your mattress. This option can be helpful if you prefer to avoid taking on new debt.