IKEA Visa Card Review
IKEA Visa Card is a
issued by IKEA.
If you're wondering whether IKEA Visa Card is the right card for you, read on. This is everything you need to know to make a good choice.
- Signup bonus. Offers a signup bonus of $25.
- High APRs. This is not a great card for people who carry a balance. It has a
- No annual fee*. This is a great option for people looking for a low-maintenance card. It gives you the benefits of a credit card, but you don't have to pay an annual fee for the privilege.
- 5% Balance transfer fee. IKEA Visa Card charges a fee of up to 5% on balance transfers. For example, a balance of $1,000 could cost up to $50 in transfer fees.
The minimum fee is $10.
- Fair or better credit required. You stand a chance of qualifying if your credit score is not below 650.
IKEA Visa Card Pros & Cons
- Receive 5% back in rewards on IKEA purchases, 3% back in rewards on dining, grocery, and utility purchases, and 1% back in rewards on all other purchases made with your IKEA Visa credit card.
- Enjoy $25 off your first IKEA purchase when you open and use your IKEA Visa credit card the same day.
- Bonus $25 IKEA Reward Certificate when you make $500 in qualifying purchases outside of IKEA, Traemand, and TaskRabbit within the first 90 days of account opening with your IKEA Visa credit card.
- No annual fee.
- No annual fee.
- IKEA Visa Card reports to multiple credit bureaus.
- Small signup bonus
- Higher than average purchase APRs.
- Does not offer rewards or cash back.
- You don't earn rewards on every purchase.
- Charges a 5% balance transfer fee.
- Does not include many credit card benefits.
IKEA Visa Card FAQ
Is there a IKEA Visa Card cash back or rewards program?
No, IKEA Visa Card does not offer a rewards program.
What are the relevant APRs for IKEA Visa Card?
According to the Federal Reserve Board, the average interest rate is 15% for all credit cards and 17% for accounts that carry a balance.
IKEA Visa Card has higher than average purchase APRs.
IKEA Visa Card has a
The card has a
balance transfer APR
It also has a
cash advance APR
Does IKEA Visa Card have an introductory APR offer on balance transfers?
No, IKEA Visa Card does not come with an introductory APR offer for balance transfers.
Does IKEA Visa Card have an introductory APR offer on new purchases?
IKEA Visa Card does not offer an introductory rate on new purchases.
IKEA Visa Card Purchase Intro Offer
What are the fees for IKEA Visa Card?
The following fees apply to IKEA Visa Card:
IKEA Visa Card Fees
Does IKEA Visa Card report your account activity to credit bureaus?
Yes, IKEA Visa Card reports your account activity to the following credit reporting agencies:
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.
How to apply for IKEA Visa Card
- Visit the IKEA Visa Card website.
- Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
- Check the information is accurate and submit your application.
If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.
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