ikea will no longer have a credit card

[Anonymous]

went to ikea and tried to use my credit card yesterday and was told that they are discontinuing their credit card in either april or may. i was pissed because my credit card was declined and when i called i was told that they have already started closing the cards. i never recieved a letter or anything and i had a credit limit of almost 2000 dollars this is really going make my overall util go up. has anyone else had this problem?  

[kysin2014]

I can't find anything online that states that Ikea is discoontinuning their credit card except in the UK.  But, nothing for the US.  Is this kept top secret right now?? 

[kysin2014]

Here is a link from an Ikea store in Houston, TX telling the truth about how they are no longer accepting applications for the IKEA credit card; and how current IKEA credit card customers will only be able to use their credit card until May 8, 2011. 

This is very concerning news.  Would I be correct in saying so that if current credit card customers who do not currently close out their IKEA credit card with GE Money will suffer having GE Money close it out on them with their IKEA credit card account showing "Account closed per subscriber" instead of just closing it out yourself and having it report "Account closed by consumer reported by subscriber" ????   Please any comments or advice is much appreciated.

[Anonymous]

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@jinswaz wrote:

Here is a link from an Ikea store in Houston, TX telling the truth about how they are no longer accepting applications for the IKEA credit card; and how current IKEA credit card customers will only be able to use their credit card until May 8, 2011. 

This is very concerning news.  Would I be correct in saying so that if current credit card customers who do not currently close out their IKEA credit card with GE Money will suffer having GE Money close it out on them with their IKEA credit card account showing "Account closed per subscriber" instead of just closing it out yourself and having it report "Account closed by consumer reported by subscriber" ????   Please any comments or advice is much appreciated.

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Aw, be happy.  It doesn't matter if the account is closed by consumer or by credit grantor.

FICO doesn't care.  Even on manual reviews, this has never ever been an issue for me or for other folks posting on this board.

For those concerned with losing that CL, or the account itself - at least this gives a heads-up so you can find another suitable account and/or replace the CL.

I love IKEA.  Just thinking about them makes me want to drive the 45 minutes and pick up a yummy hazelnut chocolate bar. 

[700orbust]

PenFed complained about an account I had that was closed by grantor.

But you would expect that from them :-) 

Everyone has Pyramiding Debt too!

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@Anonymous wrote:

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@jinswaz wrote:

Here is a link from an Ikea store in Houston, TX telling the truth about how they are no longer accepting applications for the IKEA credit card; and how current IKEA credit card customers will only be able to use their credit card until May 8, 2011. 

This is very concerning news.  Would I be correct in saying so that if current credit card customers who do not currently close out their IKEA credit card with GE Money will suffer having GE Money close it out on them with their IKEA credit card account showing "Account closed per subscriber" instead of just closing it out yourself and having it report "Account closed by consumer reported by subscriber" ????   Please any comments or advice is much appreciated.

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Aw, be happy.  It doesn't matter if the account is closed by consumer or by credit grantor.

FICO doesn't care.  Even on manual reviews, this has never ever been an issue for me or for other folks posting on this board.

For those concerned with losing that CL, or the account itself - at least this gives a heads-up so you can find another suitable account and/or replace the CL.

I love IKEA.  Just thinking about them makes me want to drive the 45 minutes and pick up a yummy hazelnut chocolate bar. 

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[Anonymous]

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@700orbust wrote:

PenFed complained about an account I had that was closed by grantor.

But you would expect that from them :-) 

Everyone has Pyramiding Debt too!

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[kysin2014]

It sounds like I have nothing to lose to close out the IKEA credit card account; especially since my limit is only $200 and the acct. has only been opened for a year.  Any thoughts?

[Anonymous]

Probably a fine plan.

How will it affect your utilization?  If it has an impact, you can always correct it by paying down to the utilization you want to have.

And what other revolving accounts do you currently have open?

[kysin2014]

Here is the link from the Ikea store in Houston, TX : http://www.ikeahouston.com/store-information-houston-texas 

They are the only store that I can see that is actually postins something about the Ikea credit card no longer being accept in May 2011.

[Anonymous]

Came across this thread with the same issue as you; I was in Ikea this weekend in the Conshohocken area (outside of Philly); and swiped and declined; I didn't want to hold up the line so just paid with my debit card; but i'm a little dissapointed that no communication effort was made to inform me of this.

I have to admit I only used the card maybe twice a year, but I always liked taking advantage of their special APRs for my larger purchases Oh well. I'm more curiuos as to why this happened, it would seem to me not offering a card would affect customers buying from them (it certainly will make me think twice as I prefer using store cards over my regular credit card because of the generally favorable terms on store cards.)