Two months ago I purchased 2 mattresses from Mattress Firm for a total price of $2005. I used the 90-day same as cash option, meaning that I have 90 days to pay the balance and avoid any interest charges. This is by way Progressive Finance Co. Of Utah. When you make the purchase, you're told the finance rate is 1.8 percent, which sounds very good.in fact, it's 1.8% x 12 months and your finance charge will amount to nearly or more than 100% of the purchase price. For instance, on a $1160 purchase, my finance "fee" would be more than $1,000 is I miss that 90-day deadline. If this is not a scam, I don't know what is. I found out about it in time, but I imagine there are many customers who've been bamboozled by these deceptive practices and the stated "1.8%" fee. The company should be made to disclose the full amount of their financing schemes.
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