I bought a mattress worth $800 with a 0% finance from mattress firm's own contractor Wells Fargo. It was so simple that everything was done within 3 minutes.
First of all the mattress is horrible after 6 months. Second, I did not receive Wells Fargo billing statements for most of the months. When I received it was already past due date. The website too doesn't show you remaining balance or payment history.
You can't sign up for auto-pay! I have been twice charged with late fee of $35. Their scheme of 0% finance thrives on the well researched calculation that a single missed due date would gain the company about 5% of interest. When I tried to speak to a customer care person, the automatic phone machine never gave an option to speak with someone.
What would you do? I went to the M.F.
store where I bought the mattress and they said it's all between you and the financing company. Learned the lesson, though costly, never ever get in trap.
Monetary Loss: $100.