topic Re: SCT - IKEA bait and switch, CLI in Credit Card Approvals

SCT - IKEA bait and switch, CLI

mikesonthemend — Thu, 18 Apr 2019 04:29:26 GMT

Didn't share due to garden shame. A few weeks back, I received the pre-appred from IKEA. The offer said $5500, i accepted and was rewarded with $750. Yesterday the card arrived. I registered and hit the luv button. Instant pop to $2250. A far cry from the $5500 offer I accepted.

Just another DP in the SCT game. Yep, it was a hard EQ pull. On the approval, not the CLI.

Re: SCT - IKEA bait and switch, CLI

M_Smart007 — Thu, 18 Apr 2019 04:32:14 GMT

sorry for the bait n switch, but Congrats on the $2250.

Re: SCT - IKEA bait and switch, CLI

Meanmchine — Thu, 18 Apr 2019 04:39:23 GMT

Congrats on the approval and cli

If it comforts you at all, youre not the first poster Ive seen with this complaint

Re: SCT - IKEA bait and switch, CLI

FinStar — Thu, 18 Apr 2019 05:18:39 GMT

OP, not sure where there's a bait and switch since the pre-approval amount can be "up to" in a variety of cases. However, their disclosures which you would have accepted before clicking submit outline the information below from their website. On the upside, you were able to obtain a CLI when you registered your account online.

Prequalification Terms & Conditions

I agree to be prequalified for credit by Comenity Capital Bank ("Bank") for a IKEA Projekt credit card. I have read and agree to the disclosures provided on or with this prequalification. The information I am submitting is accurate. I understand that a prequalification is not a guaranty of credit and a failure to prequalify is not a denial of credit.

Re: SCT - IKEA bait and switch, CLI

kdm31091 — Thu, 18 Apr 2019 12:03:16 GMT

I've never heard of a preapproved offer listing a specific starting limit. It may say "up to", as Finstar mentioned, but I have never seen something where it listed a definite SL.

Re: SCT - IKEA bait and switch, CLI

Anonymous — Thu, 18 Apr 2019 12:33:33 GMT

when i applied it said 'can get upto 5500' i believe and i got 5500 and ive already grown the limit to 7000 with sp clis

Re: SCT - IKEA bait and switch, CLI

pinkandgrey — Thu, 18 Apr 2019 13:42:27 GMT

Shame on you. Lol congrats on the recon though. That’s a good jump!

Re: SCT - IKEA bait and switch, CLI

Anonymous — Thu, 18 Apr 2019 15:08:42 GMT

Congrats on approval and CLI !!!

Re: SCT - IKEA bait and switch, CLI

AverageJoesCredit — Fri, 19 Apr 2019 02:21:04 GMT

Congrats ive done Garden shame apps many a time. The only cure for them are 3 months time and an approval

Re: SCT - IKEA bait and switch, CLI

Anonymous — Fri, 19 Apr 2019 02:25:33 GMT

@mikesonthemend wrote:
Didn't share due to garden shame. A few weeks back, I received the pre-appred from IKEA. The offer said $5500, i accepted and was rewarded with $750. Yesterday the card arrived. I registered and hit the luv button. Instant pop to $2250. A far cry from the $5500 offer I accepted.

Just another DP in the SCT game. Yep, it was a hard EQ pull. On the approval, not the CLI.

Congratulations on your approval!

The same thing happened when DW app’d earlier this week. Prequal said $5500. Submitted app and approved for $550. Dangit. Set up online acct and clicked the Luv button and got an instant $1500 CLI. Logged out and back in. Clicked for some mo Luv and got another $1500. It wasn’t a $5500 approval, but not a $550 approval either.

Congrats again!

Re: SCT - IKEA bait and switch, CLI

mikesonthemend — Fri, 19 Apr 2019 03:47:47 GMT

@FinStar wrote:
OP, not sure where there's a bait and switch since the pre-approval amount can be "up to" in a variety of cases. However, their disclosures which you would have accepted before clicking submit outline the information below from their website. On the upside, you were able to obtain a CLI when you registered your account online.

Prequalification Terms & Conditions
I agree to be prequalified for credit by Comenity Capital Bank ("Bank") for a IKEA Projekt credit card. I have read and agree to the disclosures provided on or with this prequalification. The information I am submitting is accurate. I understand that a prequalification is not a guaranty of credit and a failure to prequalify is not a denial of credit.

You got me! Congratulations! You Rock!

Re: SCT - IKEA bait and switch, CLI

Anonymous — Thu, 30 May 2019 15:33:20 GMT

Same exact situation with me today, I was Catfished. Pre-qualify IKEA Projekt at 5500, processed it and came back with 750.00. Im going to try what you all did and hit the LUV button as soon as I get the card and register my account online.

Im confused on the difference between the Projekt card and the IKEA Visa. I have a pre-approval for the Visa, but I was pre-qualified for the Projekt (store card). Is the Projekt store card though Comnity like the Visa is? Did I make the right choice going for the pre-qualify Store card v. preapproved visa? I have quite a few CC's, only store cards is Victoria Secret.

Re: SCT - IKEA bait and switch, CLI

sghosh5 — Thu, 30 May 2019 15:59:57 GMT

@AverageJoesCredit wrote:
Congrats ive done Garden shame apps many a time. The only cure for them are 3 months time and an approval

LOL, that is been happening to me too. Whenever i am reaching to almost 3 months mark, ending applying and getting approved for cards/CLIs.

Re: SCT - IKEA bait and switch, CLI

FinStar — Fri, 31 May 2019 01:34:46 GMT

@Anonymous wrote:
Same exact situation with me today, I was Catfished. Pre-qualify IKEA Projekt at 5500, processed it and came back with 750.00. Im going to try what you all did and hit the LUV button as soon as I get the card and register my account online.
Im confused on the difference between the Projekt card and the IKEA Visa. I have a pre-approval for the Visa, but I was pre-qualified for the Projekt (store card). Is the Projekt store card though Comnity like the Visa is? Did I make the right choice going for the pre-qualify Store card v. preapproved visa? I have quite a few CC's, only store cards is Victoria Secret.

The potential outcome is definitely disclosed in the fine print prior to clicking submit. That being said, the IKEA Projekt card is more or less a limited purpose product for long term financing (i.e. large purchases but no rewards) whereas the Visa CC earns rewards and has more acceptance outside of IKEA. Both cards are issued by Comenity/CCB. Personally, I would have opted for the Visa CC, unless your plan was to leverage the long term financing promotions on an ongoing basis.

Re: SCT - IKEA bait and switch, CLI

GApeachy — Fri, 14 Jun 2019 17:48:10 GMT

@FinStar wrote:

Prequalification Terms & Conditions
I agree to be prequalified for credit by Comenity Capital Bank ("Bank") for a IKEA Projekt credit card. I have read and agree to the disclosures provided on or with this prequalification. The information I am submitting is accurate. I understand that a prequalification is not a guaranty of credit and a failure to prequalify is not a denial of credit.

I'm so glad you posted this....I just re-read some of my screenshots (that darned fine print) thanks @FinStar !

Re: SCT - IKEA bait and switch, CLI

GApeachy — Thu, 27 Jun 2019 22:22:28 GMT

delete

Re: SCT - IKEA bait and switch, CLI

800FICOGoal — Fri, 14 Jun 2019 19:50:59 GMT

Congrats on the approval, but that bait and switch does suck.