SCT - IKEA bait and switch, CLI - Page 2 - myFICO® Forums

mikesonthemend · ‎04-18-2019

@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.

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Anonymous · ‎05-30-2019

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.

sghosh5 · ‎05-30-2019

@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.

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FinStar · ‎05-30-2019

@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.

GApeachy · ‎06-14-2019

@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 !

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