I wouldn't open an account. Just use your negotiating skills to get the other $100 off or even just $50.

The account is most likely a R&F credit card and if you pay if off in a month, you get the 10% savings. I doubt you need another credit card especially from a retailer of this kind. Tell them you will pay cash for the sofa if they are willing to match the LazyBoy price with another 5 or 10% off (start at 10 and work your way to 5%) - be persistent, furniture is negotiable. Don't let them rope you into getting their card especially if you already don't have good credit or don't need that feeding into your credit report.

Just my 2 cents.

I agree with Deb evrytime you open one of these instore credit cards it hits and lowers your credit score and it is something else to worry about. You would be better off go to the web site of your MC or Visa and see what offers they might have and they usually do have one.