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Verdict: The IKEA credit card offers a convienent way to shop at IKEA but has a very high APR of 28.8%. This card should never be used to carry a balance.
The IKEA card is issued by Citi Cards Canada and can be used at IKEA and IKEA.com and allows you the option of deferred payments or equal payment plans.
How This Card Works:
The IKEA card is good only at IKEA stores and IKEA.com. The card has an extremely high interest rate of 28.8% and so should not carry a balance. For example, if you carry a $2,000 balance on your IKEA credit card you’ll be paying $48 each month in interest alone, or or almost $550 a year. IKEA cardmembers also get specials at the store from time to time and advance notice of promotions.
Travel and Shopping Benefits:
IKEA cardholders receive advance notice of IKEA promotions and events, as well as specials and special sales on items in the store.
There is no annual fee for the IKEA credit card. The interest rate is 28.8% per year. Dishonored payment methods are subject to a $25 fee.
- No annual fee
- Special promotions for cardholders
- Advance sale notice
- Extremely high APR of 28.8%
- No rewards