Advantage
- Best value shopping at IKEA
- Automatically join the IKEA Family Membership Program
- Earn rewards wherever Visa is accepted
Disvantege
- Rewards can only be redeemed as points on the statement
- Above-average APRs for purchases and transfers
- No classic one-time offers.
Benefits explained
Especially worth it when you shop at IKEA: Save 5% with this card when you shop at IKEA stores or online. If you don’t have the time or energy to assemble your IKEA purchase yourself, you can also get 5% back when you pay for Traemand or TaskRabbit installation and assembly services with your card. That’s a decent premium rate that you don’t always find on other co-branded or closed-loop retail credit cards.
Automatic Enrollment in the IKEA Family Membership Program: New cardholders are automatically enrolled in the IKEA Family, which has some benefits of its own. With IKEA Home, you can enjoy exclusive discounts on selected items, seminars and events, and free hot drinks every time you visit an IKEA store. You can also join the IKEA family without a card, but you must register separately.
Earn rewards wherever Visa is accepted: Unlike some rewards closed-loop business credit cards, IKEA Visa gives you the opportunity to earn a percentage of your spend wherever Visa is accepted. That means you’ll be rewarded whether you’re shopping for groceries, shopping at your favorite department store, or booking travel with your card. A closed-loop retail card restricts you to spending and earning rewards only in your own store.
Disadvantages Description
Rewards can only be redeemed for statement credit: With a standard rewards card, you can redeem rewards for statement credit, cash back, gift cards, travel, or other options. The IKEA Visa Credit Card will automatically redeem the reward for the credit limit on your statement. Rewards are redeemed in $15 increments.
Above-average APRs for purchases and balance transfers: This card’s APR for purchases and balance transfers makes it less attractive if you plan to carry your balance. Neither has an introductory APR, so you pay the regular variable rate from the moment you open your account.
Not a traditional one-time offer: While the IKEA Visa Credit Card offers one-time offers, it’s not what you’d expect from a typical cash-back credit card. Instead of earning hundreds of dollars in cash back for meeting the minimum spend, you’ll get rebates on your first purchase.
This card is best for
This card could be suitable for anyone who spends a decent amount on furniture, home decor or DIY, or happens to be a lover of the IKEA brand. The reward structure also gives you the flexibility to earn money from your day-to-day expenses.
Also, if you rely on TaskRabbit or Traemand for furniture installation and assembly, this card might be worth it. You’ll get 5% back on that spend, which is more than you’re likely to get with a traditional cash back rewards card.
IKEA Visa Credit Card One-Time Offer
As mentioned, this card doesn’t come with the typical one-time benefits. Instead, get $25 off your first IKEA purchase. It’s not a great reward compared to what you get from a regular cash back rewards card. But it’s similar to rebates or first-purchase rewards on other co-branded retail credit cards.
Details of getting rewards
There are three ways to earn rewards with an IKEA Visa credit card:
- Earn 5% back at IKEA, Traemand and TaskRabbit
- Earn 3% back on meals, groceries, and utility purchases
- Earn 1% on all other purchases
Rewards have no upper limit. So the more you spend, the more you get in return. Since you can use this card anywhere Visa is accepted, you have the flexibility to use it to earn rewards on almost every purchase.
Reward redemption details
Redeeming your rewards with your IKEA Visa Credit Card is easy. Rewards are automatically applied as statement credits in $15 increments. However, they expire after 45 days.
How to maximize your rewards
Maximizing your rewards depends on how much you spend and where you shop with your card. Here are two examples of how this card can help you maximize your rewards.
Average situation
Say you spend $5,000 a year on home improvement and furniture. You can get a $250 refund on these purchases. Add $10,000 in groceries, meals, and utilities, and $5,000 in other daily expenses, and you’ll earn back $300 and $50, respectively. All in all, you’ll earn $600 worth of rewards on your $20,000 worth of purchases.
Challenging case
Say you have some major home improvement projects and plan to spend $20,000 a year at IKEA. They also spent $10,000 on restaurants, groceries and utilities, and an additional $5,000 on overhead. At this rate, you’ll earn $1,000 + $300 + $50 for a total of $1,350 back on a $35,000 purchase.
Standard service
The IKEA Visa credit card includes the following standard services:
- Exchange of emergency cards
- Roadside transportation
Cardholder Experience
This card is issued by Comenity Bank featured in the J.D. 2021 US Credit Card Satisfaction Study. Power not listed.
You can manage your account online or using your mobile device. Customer Service can be reached at 866-387-6145.
Security function
This is a chip-enabled credit card and your online information is encrypted for added protection. If you’re concerned about identity theft or fraud, you’ll get answers by phone or secure message. It’s easy to report a lost or stolen card, and you’re covered by the $0 Fraud Guarantee.
Fees to be aware of
What you need to be aware of is not the cost of this card, but the APR for purchases, transfers and cash advances. Like other retail credit cards, the IKEA Visa has an above-average APR on all three cards, which can make it more expensive to maintain a monthly balance.
Our verdict
The IKEA Visa Credit Card could be a great option for DIYers and those who like to shop for IKEA. The card is also attractive for earning decent returns on restaurants, groceries, and utilities when you typically charge for these purchases. Also, there is no annual fee.
If you’re not a regular IKEA customer or don’t have a major home improvement project in the works, this card might not be as appealing. If you prefer a card with more flexible redemption options or more generous one-time benefits, you might want to look elsewhere. A traditional cash-back rewards card may be a better option for these needs.
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