Preapprovals

[CivalV]

Since my newest accounts are finally 6 months old and others made 2 years, overall usage out of $9,100 is 50% and inquiry’s are dropping off my reports and my 1 year self lender installment account will be finished before June 20th! I am now getting preapprovals in the mail for personal loans as well as credit cards..

Ikea Projekt pre approval showed:

SL: $5,500 even though I stated I was making a $3000 purchase for a new closet set up.
APR: 0% for 6,12 or 18 months and 21.99% there after.
No pre payment fees and no minimum spend.

Has anyone else received the CL that Ikea Projekt showed? And is this a store card or Visa/Mastercard? I really dont want store cards but I could use that limit to make a large purchase while also padding UTL.

I was also preapproved for the wayfair card.... it only took 3 years lol.. no stats on that so I will steer clear.

Pre approved for subprime cards for a few months now but I am looking for prime cards come June.. the big drop from 7/24 to 3/24!! Woohoo 🎊💪🏼🙏🏼


Should I dive in for Ikea Projekt or wait for the end of June where my UTL will drop to 30% and AAoA will be over 2 years *finally* while also having a score boost to 700 scores *finally*. I am soo itching but I’ve waited 10 months so maybe I can wait another 3 weeks?

Also last question..

My Discover card makes 1 year June 1st.. when I was approved for my then secured card I had a collection account.. its still on my file and now when I check Discover prequal they say “cant prequal for any offers due to collections account”
In which there is only one.. the same from before my first Discover card 😕 Do I PFD the collection and hope for the 2nd card prequal or move on to other lenders lol

Also I would love to open a balance transfer card but I need to wait for better scores 😩

[SBR249]

The Projekt Card is a store card. Their Visa card is branded as the Ikea Family Visa card. 

[FinStar]

OP, just to add to the above, the SL displayed online is the potential "up to" range that one could get approved.

There's been several reported cases where that fell short of expectations, but other individuals with stronger profiles have been approved for the SL as indicated, so your outcome may vary.

[Anonymous]

I just looked up the specs on the IKEA cards, and neither options seem great (unless you need a bigger line for Utilization on the Projekt card) or are planning on using the Projekt card for actual building.
See, it seems IKEA/Comenity only offer the two options, a Projeckt card to use only for their Taskrabbiting and building of IKEA installs OR their Visa that ONLY pays you back in IKEA Credits which have to be used within a 30 to 45 day time frame or they become invalid! Like, no cashback to even add to your account as a payment, like Amazon or Walmart, etc.
BTW, Amazon has a new Prime Starter card (I've been 'shopping' for possible cards today, tee hee 😋), which is secured, a $100 bucks down, the SL to be determined as you apply, AND you still get the 5% back and all normal Prime/Synchrony benefits, including your FICO score. It can be PC into a normal card depending on how you use it, which seemed pretty cool.
I had a pre-approved offer from Ebates, but they only pay you your own card's cash back every 3 mos when your Ebates app actually pays you.
So, ... those are some of the retail cards I looked up today, lol! And I so wanted IKEA, but after the Doc Of Credit and Wallet Hub shot it down, I thought, eh. Maybe something better.
I am liking the Amazon, tho. And the PayPal has promise. Wayfair works well, but you need to buy often enough for Comenity to justify larger CLI.
Macy's looked okay. And I just got a Nordstrom card which many say give a CLI every 3 or 4 mos!
Try googling the best cards to grow with sub-prime credit from Nerdwallet or a credit comparison site, or looking for other threads on these boards.
*it's late, I'm rambling. Sorry!* 😛😜😝🤐
Goodluck! 🌠