Ikea launches new credit card

Lloyd Doyle
May 17, 2018

"We spent nearly two years creating the new Ikea Visa credit card to ensure the program would support our mission by investing our profits back into value for the customer", said Jacqueline DeChamps, Ikea U.S. chief operating officer.

Ikea U.S. has launched a loyalty-oriented Visa credit card, rewarding customers for their purchases with the home furnishing giant and elsewhere.

Redeeming rewards is automatic, if complicated. These certificates can be used only at U.S. Ikea stores or the U.S. version of the company website. Apple, Uber and Amazon have all either begun offering credit cards or are looking into it. It earns 3% cash back at USA supermarkets on up to $6,000 in annual spending (then 1%); an unlimited 2% back at US gas stations and select USA department stores; and 1% back on all other spending. Even cooler? There's no annual fee. It provides 5 percent back on all IKEA purchases, plus small rewards on other purchases. For example, say you decide to purchase a VIMLE 6 seat sectional couch, which Ikea lists on its website at $1,899 before tax.

Shopping at IKEA already feels like a steal when you can get some of your main furniture pieces at super reasonable prices.

The credit card comes with a single interest rate - 21.99% - for everyone.

IKEA is the latest retailer to move into rewards credit cards.

But for the many people who spend more time at home, Ikea is betting you want rewards, too.

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