Many companies are working to maintain customer loyalty through new reward programs and launching credit cards. IKEA is following this trend by offering customers a rewards credit card.
There are two credit card options: IKEA Visa card for everyday purchases and IKEA Projekt card for large purchases. Both cards offer special rewards depending on items purchased.
The IKEA Visa card offers 5 percent cash back in rewards on IKEA purchases (including installation and assembly services). The card also offers 3 percent cash back in rewards on dining, grocery, and utility purchases. For all other purchases there will be 1% cash back in rewards.
The Visa card option also offers $25 off first purchase, applicable same day with application for IKEA Visa card. They also offer free shipping and delivery on IKEA purchases until August 31, 2018. With a qualifying purchase of $500 outside of IKEA, customers can receive a bonus $25 IKEA Reward Certificate within the first 90 days of opening the card.
Features for the IKEA Visa card includes no annual fee and automatic enrollment in the IKEA Family loyalty program (if not already a member). This card offers an APR rate of 21.99 percent for standard purchases with a 23.99 percent APR rate for cash advance.
For larger purchases customers can use the IKEA Projekt credit card, with a low promotion rate for purchases of $5,000 or more. This option allows customers to pay off a single purchase of $5,000 or over with 60 affordable monthly payments at a low APR rate of 4.99 percent, with the APR rate changing to 21.99 percent standard purchase APR and no annual fee.
This is one of IKEA’s new initiatives to better the customer experience, with the releasing of the furniture assembly robots for customers who want to not assemble furniture. The new assembly service feature has increased sales with the added payment for assembly and shipping. They also have the means to offer free assembly for the customers through the credit card, while not having to pay more for assembly services.
Through these new financing options through credit cards has IKEA hoping for customer loyalty and have customer purchasing more frequently. Check out the videos above to learn more about the new IKEA credit card options.