topic Re: Tempting Ikea Projekt card prequalification! in Credit Cards

Tempting Ikea Projekt card prequalification!

markbeiser — Sun, 07 Jan 2024 04:25:57 GMT

Kind of in the beginning stages of planning out a kitchen remodel and was poking around on the Ikea site when I saw the Projekt card link.
Very tempting with the 0% APR for 24 months on the size purchase I would be making...🤔
I was barely even aware that the card existed until now.
No previous business with Cominity bank.

I'll have to see what the prequalification comes back with after I hit my gardening goal next month, could be worth rethinking the order I was planning for new cards over the next couple of years.

Re: Tempting Ikea Projekt card prequalification!

Brian_Earl_Spilner — Sun, 07 Jan 2024 05:23:10 GMT

It can be hit and miss. You could very well be approved for that. In my case I was pre-approved for 15,000 and accepted. Ended up with 1500. Think I closed it about 6 months later. I will add that I was in the middle of my rebuild at that point so I still had derogatories.

Re: Tempting Ikea Projekt card prequalification!

ptatohed — Sun, 07 Jan 2024 08:41:46 GMT

https://www.ikea.com/us/en/customer-service/services/finance-options/

Re: Tempting Ikea Projekt card prequalification!

Blender — Sun, 07 Jan 2024 14:59:40 GMT

I'm not trying to steer you away from this card at all, just keep in mind it's serviced by Comenity Bank. Everyone's experience will differ, but if you're unfamiliar, search around before pulling the trigger.

I am trying to get a late payment removed which I believe was their system's fault, and if succesful, I may close the card.

Re: Tempting Ikea Projekt card prequalification!

markbeiser — Sun, 07 Jan 2024 15:40:42 GMT

@Blender wrote:
I'm not trying to steer you away from this card at all, just keep in mind it's serviced by Comenity Bank. Everyone's experience will differ, but if you're unfamiliar, search around before pulling the trigger.

I am trying to get a late payment removed which I believe was their system's fault, and if succesful, I may close the card.

Yeah, I've heard mixed things about Comenity.
How bad can 24 months of equal payments on a single large purchase get screwed up though.🤔

I joined the Ikea Family club thing, so would make the kitchen cabinet purchase when one of their 15% discount periods rolled around.
That combined with the 0% financing makes it really tempting...

Re: Tempting Ikea Projekt card prequalification!

Blender — Sun, 07 Jan 2024 16:08:10 GMT

@markbeiser wrote:
@Blender wrote:
I'm not trying to steer you away from this card at all, just keep in mind it's serviced by Comenity Bank. Everyone's experience will differ, but if you're unfamiliar, search around before pulling the trigger.

I am trying to get a late payment removed which I believe was their system's fault, and if succesful, I may close the card.
Yeah, I've heard mixed things about Comenity.
How bad can 24 months of equal payments on a single large purchase get screwed up though.🤔

I joined the Ikea Family club thing, so would make the kitchen cabinet purchase when one of their 15% discount periods rolled around.
That combined with the 0% financing makes it really tempting...

Lol im not the best person to ask this. I've had the paid in full amount drafted when it was on minimum monthly autopay and 2 interest charges tacked on when its supposed to have 12 month 0%. Thats my frustrations and nothing has changed on my end for this to continue to keep happening.

Re: Tempting Ikea Projekt card prequalification!

Brian_Earl_Spilner — Sun, 07 Jan 2024 16:12:05 GMT

Comenity closed one of my cards on me and nobody knows why. They say it shouldn't have happened and all the departments point at each other and keep bouncing me back and forth. Some of the reps have even lied to me about reasons it was closed and that it was being reopened. In the end, it's still closed after 2 months of dealing with them.

Re: Tempting Ikea Projekt card prequalification!

markbeiser — Sun, 07 Jan 2024 16:14:09 GMT

@Blender wrote:
Lol im not the best person to ask this. I've had the paid in full amount drafted when it was on minimum monthly autopay and 2 interest charges tacked on when its supposed to have 12 month 0%. Thats my frustrations and nothing has changed on my end for this to continue to keep happening.

So the anser to my question about how bad it can get screwed up is "YES!"🤣

Re: Tempting Ikea Projekt card prequalification!

xenon3030 — Sun, 07 Jan 2024 18:04:44 GMT

Instead of dealing with Comenity on a store card, you might get one of Cash+/Elan cards and they give 5% on Ikea (cap of 1.5k/quarter).

Re: Tempting Ikea Projekt card prequalification!

markbeiser — Sun, 07 Jan 2024 19:23:01 GMT

@xenon3030 wrote:
Instead of dealing with Comenity on a store card, you might get one of Cash+/Elan cards and they give 5% on Ikea (cap of 1.5k/quarter).

Not a bad idea, but I have other plans for the Elan card when I get one late February/early March.
I'll probably be skipping out on dealing with Cominity though.
One option I have would be to get a BoA Unlimited Cash Rewards card and use it for the 15 month 0% intro APR, $200 SUB, and get 2.62% cash back on the entire purchase.

I'm beginning to question why I was even a little tempted by the Projekt card. Late night + whisky I guess.🥴🥃

Re: Tempting Ikea Projekt card prequalification!

Pppoolboy — Mon, 08 Jan 2024 23:53:15 GMT

save up the money and do it next year.

As my grandpappy always said, if it aint worth saving for, it aint worth buying!

Re: Tempting Ikea Projekt card prequalification!

markbeiser — Tue, 09 Jan 2024 05:14:12 GMT

@Pppoolboy wrote:
save up the money and do it next year.

As my grandpappy always said, if it aint worth saving for, it aint worth buying!

I don't plan on doing it until next year anyway.
I have the money, but I'd rather let it keep growing at 4-5% while I take advantage of a 0% APR period, prefereably also while earning cash back on the purchase and satisfying a SUB on a new card.
If a bank is willing to pay me money to use their money for 15 months, while they are also paying me money to use my money, I'm in!
I'm sure grandpappy would approve, he just didn't have those options in his day.😉