IKEA Projekt Card

[BlessedBuilding]

Hi, I know I need to wait and see, but hoping opinions will ease my anxiety. I started really trying to rebuild my credit in May, only neg on it was a Chapter 7 from 2014, but I had 0 credit cards. I got carried away and opened 12 accounts since May. I knew I should stop and planned to let these age awhile. However, while on ikea site it said 'see if you prequalify' so I did just for fun with expectation of not prequalifying with all the inquiries. It said I was preapproved for 6000. That would be a huge boost to my available credit, so I went through with the application. They didn't give the obvious decline, but didn't approve either. I forget the exact wording. I was wondering if this has happened to anyone and their results. I'm not super worried about getting the card, but in my rebuild I have acquired 3 cards from comenity- Ulta, Pottery Barn, and Ballard Designs. I'm afraid they'll see this and possibly mess with those as well. All those cards are in good standing. Use the ulta every month and pay off every month, pottery barn used once, and haven't used Ballard yet. They won't close those or anything, will they? Thanks for your help. 

[Brian_Earl_Spilner]

It's "up to" $6000. Don't be surprised if you're approved for $600. The good news is you can grow it quickly so you could have it up to 6000 in a few months or so.

[blindambition]

Brian gave some good info about IKEA and Comenity. You really need to slow your roll on apps.

Gardening can help with future credit offers, limits, any CLI options. Credit is a marathon, not a sprint.

Credit is also like chess. You want to be strategic in moves. I get you want to rebuild, but adding cards that have a short shelf life, or no real purpose isn't the way. Be patient and consider a cards worthiness and longevity.

[BlessedBuilding]

Thank you for your information. I am totally fine with that. I've just never seen a message like the one that came up. 

[BlessedBuilding]

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@blindambition wrote:

Brian gave some good info about IKEA and Comenity. You really need to slow your roll on apps.

Gardening can help with future credit offers, limits, any CLI options. Credit is a marathon, not a sprint.

Credit is also like chess. You want to be strategic in moves. I get you want to rebuild, but adding cards that have a short shelf life, or no real purpose isn't the way. Be patient and consider a cards worthiness and longevity.

Thank you for your advice. I was intending to garden for awhile, but that last card got in there. I know bigger and better cards could potentially be ahead, but I did try to be somewhat careful with what I got already. Now just have to wait and see how everything unfolds. 

[Brian_Earl_Spilner]

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@BlessedBuilding wrote:

Thank you for your information. I am totally fine with that. I've just never seen a message like the one that came up. 

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It's a bit misleading and quite a few people fell for it when it came out. Ended up being disappointed with their approval amounts. That being said, it's comenity and will grow quick. After you get the card and create your account, immediately ask for an increase. Ask every month after that, and it should grow quickly.

[Jnbmom]

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@Brian_Earl_Spilner wrote:

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@BlessedBuilding wrote:

Thank you for your information. I am totally fine with that. I've just never seen a message like the one that came up. 

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It's a bit misleading and quite a few people fell for it when it came out. Ended up being disappointed with their approval amounts. That being said, it's comenity and will grow quick. After you get the card and create your account, immediately ask for an increase. Ask every month after that, and it should grow quickly.

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I thought the OP was denied? Sorry just reread looks like in limbo at the moment