What You Need to Know About IKEA’s New Credit Card

This week, the famed Swedish furniture manufacturer IKEA debuted their new IKEA Visa card offering. Unlike most store credit cards, IKEA’s partnership with Visa means you are able to use this particular card anywhere, allowing you to earn more rewards. Additionally, the card carries a potentially lucrative initial bonus offer that might grab your attention. However, before you get too excited, just be aware that there’s a catch.

IKEA Visa card

Let’s start with what’s attractive about the new IKEA Visa. First, it offers 5% back on all IKEA purchases (including TaskRabbit assembly services), 3% back on dining, grocery, and utilities, as well as 1% back everywhere else. Admittedly, those rates are pretty strong and the 3% category in particular has a unique collection of offers. Better yet, the card carries no annual fee — which I believe should be a prerequisite for any store-branded credit card.

So what’s the catch? Well, unlike some branded cards like the Uber Visa, IKEA’s new card only allows you to redeem rewards at an IKEA location. More specifically, their site notes that reward certificates will be issued in $15 increments and be included with billing statements.

That said, I did mention that the initial bonus offer on this card was intriguing — and it is — although it’s unclear if it will stay that way. Currently, those who sign up for the IKEA Visa will receive $25 off of their purchase on the same day. Additionally, when you spend more than $500 outside of IKEA or TaskRabbit in your first three months, you’ll earn another $25 reward certificate. That may sound pretty lackluster, but the star feature is the free standard shipping delivery on in-store IKEA purchases you’ll earn for a limited time. This part of the offer is only valid through 8/31/18 but it does sound like you can utilize it multiple times until then. Of course there are some delivery area limitations that apply but, if you’re furnishing a new home or refreshing your current home, this could save you a ton in fees (not to mention the backaches from trying to carry everything yourself). Like I mentioned though, it’s unclear if this offer will be extended or evolve in the future.

Is the IKEA Visa Card Worth Having?

Ultimately, if you’re in the market for some new furniture, this IKEA Visa card could help you save a bundle. Unfortunately it also seems like the type of store credit card that’s only good for a short time and will just sit idle on your credit report afterward (until it’s eventually canceled, potentially dinging your scores). After all, while 3% back on dining, groceries, and utilities is nice, how many coffee tables or bookshelves does one person need? Then again, I’d be remiss if I didn’t mention all the non-furniture goods that IKEA also stocks, ranging from pots and pans to art and decorations. Still, unless you’re a frequent IKEA shopper and enthusiast, this Visa offering that the retailer has assembled is not quite the high-quality card it may seem to be at first glance.

Author

Kyle Burbank

Founder ~ Moneyat30
Kyle is a freelance writer - including being the head writer for Fioney.com. He also serves as editorial director for the Disney fan site LaughingPlace.com and the founder of Money@30.com. In 2015, Kyle and his wife Bekah moved from Los Angeles to Springfield MO in pursuit of greater financial freedom. Together, the pair enjoy travel, coffee, and spending time with their dog Rigby. Additionally, as of 2023, they become first-time homeowners.

Other Articles by Kyle Burbank

bed at Tru by Hitlon Wichita

Hilton is Offering Double Points on Hotel Stays This Summer

Hilton is making it easy to earn bonus points on hotel stays this summer. For stays from May 2nd to September 2nd, Hilton Honors members can earn 2x points. All you need to do is register on the Hilton site and you'll be good to go. Of course, you will...
Solis 5G alone and attached to a backpack

2024 Solis 5G Mobile Hotspot Review

For years, I've been a regular user of Solis mobile hotspots and have used them for several international trips (and some domestic). Of course, as the years have gone on, my Solis 1 device has grown a bit old. While it still works just fine, it has been discontinued and...
working off a Solis WiFi Hotspot

2024 Solis WiFi Hotspot Review: Using the Skyroam Solis Lite Overseas

As someone who regularly “workations” and relies on a solid Internet connection to be productive while traveling, it’s kind of crazy that I went without a WiFi hotspot for so long. That’s mostly because I had never come across a particular device that jumped out at me.  Well, that was...

Leave a Reply

The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get Posts in Your Inbox
Featured Articles
bed at Tru by Hitlon Wichita

Hilton is Offering Double Points on Hotel Stays This Summer

Hilton is making it easy to earn bonus points on hotel stays this summer. For stays from May 2nd to September 2nd, Hilton Honors members can earn 2x points. All you need to do is register on the Hilton site and you'll be good to go. Of course, you will...
Solis 5G alone and attached to a backpack

2024 Solis 5G Mobile Hotspot Review

For years, I've been a regular user of Solis mobile hotspots and have used them for several international trips (and some domestic). Of course, as the years have gone on, my Solis 1 device has grown a bit old. While it still works just fine, it has been discontinued and...
working off a Solis WiFi Hotspot

2024 Solis WiFi Hotspot Review: Using the Skyroam Solis Lite Overseas

As someone who regularly “workations” and relies on a solid Internet connection to be productive while traveling, it’s kind of crazy that I went without a WiFi hotspot for so long. That’s mostly because I had never come across a particular device that jumped out at me.  Well, that was...
Current Rewards music app

Current Rewards (Current Music) iOS App Review

Some time ago, Instagram introduced me to an app called Current Rewards — also known as Current Music (and not to be confused with the neobanking app Current). For a time, I got pretty into it and even purchased the Mode Phone, which took the Current Rewards concept to a...