IKEA Projekt Credit Card Review: Rewards, Fees & Benefits

Rewards

Reward TypePoints

Base Rate1x / 1%

Bonus RateUp to 5x

Point Value~0.01¢ each

ExpirationPoints will expire 36 months from the date they are posted to your Rewards Account.

Redemption NotesReward Certificates are valid for 90 days from the date of issuance. They are redeemable for merchandise at participating IKEA U.S. stores only. Not valid for purchases on IKEA.com or through the IKEA app, or at IKEA Restaurant, IKEA Bistro, or IKEA Swedish Food Market. Not valid for prior purchases, gift cards, or account balance payments. Not transferable and cannot be redeemed for cash. Cannot be combined with other offers or discounts unless specifically stated.

Category	Rate	Type	Cap
All Other Purchases This card does not participate in a traditional rewards program to earn points, miles, or cash back; it is dedicated strictly to offering promotional financing options on IKEA purchases.	0x	Points	No cap

Benefits & Protections

No Foreign Fees

Benefit	Category	Value / Coverage
No Annual Fee There is no annual fee for card membership.	Financial	$0 Up to $0
Dining, Groceries, and Utilities Rewards Earn 3% back in rewards on qualifying purchases at restaurants, grocery stores, and for utility payments.	Shopping	3% back in rewards
Exclusive Cardmember Offers Access to exclusive offers and promotions available only to IKEA Projekt Credit Cardmembers.	Shopping	Varies by offer
General Purchase Rewards Earn 1% back in rewards on all other qualifying purchases where your card is accepted.	Shopping	1% back in rewards
IKEA Purchase Rewards Earn 5% back in rewards on qualifying purchases made at IKEA U.S. stores, IKEA.com, and the IKEA app.	Shopping	5% back in rewards
Rewards Redemption - IKEA Projekt Rewards Certificates For every $15 in rewards earned, a $15 IKEA Projekt Rewards Certificate will be issued. Certificates are valid for 90 days from the date of issuance and can be used at IKEA U.S. stores, IKEA.com, and the IKEA app.	Shopping	$15 certificate for every $15 in rewards Up to $15
Special Financing Offers Access to special financing offers on qualifying IKEA purchases, subject to credit approval. Minimum monthly payments are required. Specific offers and terms vary and are disclosed at the time of purchase.	Shopping	Varies by offer

Interest Rates

Purchase APR21.24%–31.24% Variable

Balance Transfer APR31.24%

Cash Advance APR32.24%

Penalty APR29.99%

Min. Interest Charge$2

Deferred Interest Warning: Interest will be charged to your account from the purchase date if the promotional purchase is not paid in full within the promotional period. Minimum monthly payments are required.

Fees

Annual Fee $0 — No Annual Fee

Authorized User FeeFree

Foreign Transaction FeeNone

Balance Transfer FeeEither $10 or 5% of the amount of each balance transfer, whichever is greater.

Cash Advance FeeEither $10 or 5% of the amount of each cash advance, whichever is greater.

Late Payment FeeUp to $41

Returned Payment FeeUp to $41

Approval & Eligibility

580 Recommended minimum FICO · Range 580–700

300 Poor580 Fair 670 Good740 Very Good 800+ Exceptional

Approval DifficultyModerate

Credit ProfileFair

Approval OddsFair

Decision TimeInstant

Pre-QualificationNot available

Co-ApplicantNot allowed

Business EligibleNo

Credit Limit Range $300 – $5,000

Issuer Rules & Restrictions

Maximum Cards per Issuer

You can hold up to 5 cards from this issuer simultaneously.

Shutdown Risk Triggers

Manufactured spending, high cumulative credit limit, abuse of return policies, excessive credit limit increase requests, rapid spending on new accounts followed by inactivity, cycling credit limits, non-organic spending patterns, failure to pay on time, suspected fraud.

Cliff Effect Rules

American Express's 'once per lifetime' rule applies to the welcome bonus for this specific card product. While not typically part of a broader 'card family' for bonus eligibility, obtaining this card will make you ineligible for its welcome bonus again in the future.

International Friendly

May have limitations for international use.

Additional Issuer Rules

Welcome Bonus Rule: One welcome bonus per card per lifetime. Application Rule: Max 2 credit card approvals every 90 days. Eligibility Requirements: Applicants must be 18 years or older, a US resident, possess a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN), and demonstrate good to excellent credit history.

Military & Hardship

MLA Compliant

Complies with the Military Lending Act (36% APR cap for active duty servicemembers).

SCRA Benefits

Federal law limits the cost of credit for members of the Armed Forces and their dependents to an annual percentage rate of 36% (MAPR), including fees for credit insurance, ancillary products, application fees, and participation fees. Call 1-866-841-8837 for more details.

IKEA Projekt Credit Card