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IKEA Projekt Card

DLOPEZ25
Established Member

IKEA Projekt Card

I just wanted to share my experience in case anybody can use the info. So I initially got this card about 2 1/2 years ago mostly for promotional purchases (spend X amount and pay 0 interest for X amount of time) and I was still building my credit. I started with a $7,500 limit when I first opened it. I pretty consistently go on their site, maybe once a week or so, to ask for increases. Luckily, it's just a soft pull or at least that's been my experience. Sometimes they'll make you wait about a month or so before you can get approved for another credit limit increase but I've gotten this card up to $36k over that time period. I figure I share this info just in case someone is building credit and wants to have a decent amount of available credit and lower their utilization.

Message 1 of 10
9 REPLIES 9
ddm2k1
Frequent Contributor

Re: IKEA Projekt Card

What has been your spend and spending pattern during this time? 

Message 2 of 10
Curious_George2
Established Contributor

Re: IKEA Projekt Card

That's amazingly fast growth! Thanks for sharing.  


Message 3 of 10
AllZero
Mega Contributor

Re: IKEA Projekt Card

Congratulations on your success!

Message 4 of 10
DLOPEZ25
Established Member

Re: IKEA Projekt Card


@ddm2k1 wrote:

What has been your spend and spending pattern during this time? 



I honestly didn't use the card often. Maybe once every 3-4 months and not very large amounts usually about $100-200.

Message 5 of 10
FinStar
Moderator

Re: IKEA Projekt Card


@DLOPEZ25 wrote:

@ddm2k1 wrote:

What has been your spend and spending pattern during this time? 



I honestly didn't use the card often. Maybe once every 3-4 months and not very large amounts usually about $100-200.


Definitely some great growth in such a span of time.  Thanks for sharing.  

 

I would definitely keep it active just as you're doing today (at least every six months or so).  You definitely don't want to risk it being closed for prolonged inactivity, especially if that's a place you shop every so often plus the timeframe it took for you to grow this card.

Message 6 of 10
CreditMagic7
Super Contributor

Re: IKEA Projekt Card

Thats some rapid progress on that card and not unexpected. However as mentioned keep USAGE or accelerate some usage on it at that limit to ensure you preserve the account given the current trend as high lines laying dormant for any length of months are suddenly becoming ripe for sudden closure. Some members are chiming in recently of their card accounts either experiencing a CLD or complete elimination without notification.

 

Its the nature of the industry during this epidemic period which is going on currently.

Message 7 of 10
DLOPEZ25
Established Member

Re: IKEA Projekt Card

I definitely try to put activity. Now that I bought a house the wife is definitely going to keep using it, especially for promotional purchases.

Message 8 of 10
alexga
Contributor

Re: IKEA Projekt Card

I wish I have the same story with mine! I admit didn't do a lot of purchase with it. Got oreapproved for $3500.... got 750 instead! Didn't use it for a year then had to buy office furniture, charged $700 on that card and paid a week later.... that was in august! And looks like my statement is still open since 3 months now. I requested a cli but got a no

7F24E5FA-C527-4924-BB7D-64C710CC224F.png

 Not sure what is going on with it! 

Message 9 of 10
FinStar
Moderator

Re: IKEA Projekt Card


@alexga wrote:

I wish I have the same story with mine! I admit didn't do a lot of purchase with it. Got oreapproved for $3500.... got 750 instead! Didn't use it for a year then had to buy office furniture, charged $700 on that card and paid a week later.... that was in august! And looks like my statement is still open since 3 months now. I requested a cli but got a no

7F24E5FA-C527-4924-BB7D-64C710CC224F.png

 Not sure what is going on with it! 


Typically, the preapproval language states "up to" the amount displayed on screen.  Some accounts are approved for the full amount while others are offered less based on overall profile and after review of CR.

 

What reasoning did they provide on the letter for the CLI decline?

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