Does anyone know if Ikea has a credit card?

Yes, there is an IKEA credit card, issued by Comenity Bank. It’s a store card, so it’s only usable at IKEA. IKEA also used to have a card issued by Synchrony Bank, but that one has been discontinued and replaced by the Comenity card. The new IKEA credit card doesn’t offer any rewards. But it does have a 4.99% introductory APR for 60 months. That’s deferred interest, though, meaning you’ll pay a lot more if you still have a balance after 60 months. 

Here are the IKEA credit card’s terms:

• The IKEA store card is issued by Comenity Bank. You can no longer get the Synchrony Bank version.
• The IKEA Card can only be used for IKEA purchases. 
• You need fair credit or better for approval, which you should take to mean a credit score of 640+. 
• There is no annual fee. The card doesn’t offer rewards, either. 
• You get a 4.99% APR on purchases for 60 months. But if you don’t pay in full by the 60-month mark, you’ll owe interest for each month since the beginning, at an annual rate of 21.99%. 

While the IKEA Card’s financing period is long, 5 years to be exact, that makes its deferred interest feature all the more dangerous. A lot can happen in 5 years to derail your repayment plans and leave you saddled with expensive finance charges. 

You’re much better off getting a general-purpose card with a real 0% APR. That is to say, a card whose regular APR will only apply to whatever balance remains at the end of its intro period. But you’ll need good credit to get such a card. Citi Simplicity and Chase Freedom Unlimited are two good examples.

Ikea did have a credit card, but it’s not available to new applicants anymore. People who got the card before it was discontinued are still able to keep and use it. But you shouldn’t feel too disappointed about missing out on the card, because it wasn’t all that great of an offer to begin with. For one thing, the Ikea Card didn’t offer any rewards, which most store cards do. It also had a really high interest rate.

Here’s what you should know about Ikea’s credit card:

• It’s no longer available to new applicants.
• People who got the card before it was discontinued can still use it.
• There are no rewards.
• There’s no annual fee.
• The regular APR is 24.99% (V).
• It required fair credit to get.

While you can’t get an Ikea-branded credit card at the moment, you can still use other credit cards to get good deals at Ikea. For example, Citi Double Cash offers 2% cash back on all purchases, so you’ll get a pretty nice discount on anything you buy at Ikea with it. And if you’re more focused on financing a big purchase, you could get a card with a long 0% introductory APR, like Chase Slate. You could also check out other furniture stores’ credit cards. Value City Furniture, Levin’s Furniture, Jerome’s Furniture, and Conlins Furniture are just a few options with their own credit card.