Here is a detailed IKEA Visa Credit Card Review for interested people. With the IKEA Visa card, you may earn rewards without paying an annual fee on purchases you make at IKEA and elsewhere. Among other benefits, you'll receive rewards on all IKEA purchases worth 5%, although rewards don't last long. This makes it challenging for occasional casual IKEA shoppers to maximize their benefits.
But for one category of cardholders—frequent IKEA customers who spend a lot at the furnishing retailer—the card's excellent uncapped rewards make it an incredible deal.
IKEA Visa Credit Card Review
Before you sign up for an IKEA visa card, read our reviews if it's worth it.
IKEA Visa Credit Card Pros and Cons
Pros
- Great reward when you shop with IKEA
- Earn rewards for popular purchases made out of IKEA
- Automatic registration in the IKEA Family membership program
- Rewards certificates are issued automatically
- Includes free shipping (worth at least $59)
Cons
- No option to reclaim rewards out of IKEA
- Reward certificates can only be credited in $15 increments
- Reward certificates have only a 45-days expiration date
- IKEA purchases are not eligible for promotional financing at 0% or other special terms.
- Relatively high APR purchases and balance transfer (even for applicants with excellent credit)
- No traditional one-time offer
Features of IKEA Visa Credit card
Let's take a closer view at some of the features of IKEA Visa Credit card offers.
Earning Rewards
Here are three ways to earn rewards with IKEA Visa Credit Card.
- You can earn %% back at IKEA, Traemand, and TaskRabbit
- You can earn 3% back on dining, utility, and grocery purchases
- You can earn 1% back on all other purchases
The more you spend, the more you'll earn back; there's no reward limit.
And because the card can be used anywhere Visa is accepted, you have the flexibility to use this card to earn rewards on virtually every purchase.
Redeeming Rewards
Cardholders can quickly redeem rewards they have earned with IKEA Visa Credit Card, though they don't have many options. Rewards are automatically applied as a $15 credit on your billing statement. But they lose their validity after 45 days.
Interest and Fees
The IKEA Visa Credit Card has a competitive fee schedule. In contrast to other cash-back cards, the interest the IKEA Visa Credit Card charges are fairly high.
Here's a look at the IKEA card fees.
- Purchase APR: 29%
- Balance transfer APR: 26.99%
- Balance Transfer Fees: $10 or 5%, which is greater
- Annual Fee: $0
- Credit Score Range: 650-850
Customer service
IKEA Visa Credit Card is launched by Comenity Capital Bank, a division of Bread Financial, which isn't ranked in J.D. Power's 2021 U.S. Credit Card Satisfaction Study. Cardholders can get in touch with its highly knowledgeable customer support team by calling the customer service number, mailing a letter, or sending a secure message through Comenity's website.
The availability of live customer help from Comenity may change on holidays, but it is available every day, every week. The customer service number is 866-387-6145.
Security features
Your online information is secured with this chip-enabled credit card for enhanced security. You get answers to your questions concerning fraud or identity theft over the phone or through secure messaging. It's simple to report lost or stolen cards, and a $0 liability fraud guarantee protects you.
How to maximize your rewards?
You can maximize your rewards depending on how much you spend and where you use your card for making purchases. Here we've discussed two examples of how to maximize your rewards with this card.
Average case
Let's say your annual budget for furnishings and home improvements is $5,000. On such purchases, you may receive $250 back. You would receive an additional $300 and $50 back if you included $5,000 in other daily expenses and $10,000 in grocery, eating, and utilities. On a total of $20,000 in purchases, you would earn $600 in rewards.
Aspirational case
Let's say you have some significant home remodeling projects planned and a budget of $20,000 for IKEA purchases this year. You also spend $10,000 on dining, groceries, and utilities, plus another $5,000 in daily spending. At that rate, you'd earn $1,000 + $300 + $50, for a total of $1,350 back on $35,000 in purchases.
Who is this card best for?
- Anyone who spends a fair amount of money on furniture, home furnishings, home improvements, or enjoys the IKEA brand may benefit from this card.
- The rewards system provides you the flexibility to receive cash back on regular purchases.
- IKEA enthusiasts who want Visa Card with the store logo.
- This card can also be beneficial if you use TaskRabbit or Traemand to assemble and install your furniture. You can get 5% back on those expenses, which is more than you'd probably receive with a conventional cash back rewards card.
How to apply for IKEA Credit Card
To apply for the IKEA Visit Credit Card
- Visit the IKEA Credit Card website.
- Fill in the application form. You'll be required to provide general financial information such as your address, Social Security Number, and annual income.
- Check the information you provided is accurate and apply it.
The credit score needed for the IKEA Visa Credit Card approval ranges from 670-850.
Final thoughts: Should you opt for the IKEA Visa Credit Card?
IKEA Visa Credit Card is designed with devoted IKEA customers in mind. Anyone who frequently shops at IKEA and wants to get cash back on their purchases could find this card a great option.
It's beneficial for anyone looking for a reliable rewards card they can use anywhere. However, the card falls short regarding the APR and using rewards. We advise looking for another rewards card option if you occasionally carry a balance on your card or you want more ways to redeem your points.
