To all who have already financed at Ikea

Hello!

I have already contacted Ikea but have seen the message that a response may take 21 days.
Can someone tell me which items are excluded from financing?

Furniture is clear but what about floors, curtains, etc.?

Everything from Ikea is financeable, but a minimum contribution probably needs to be reached when purchasing an item.

I am currently in the process of buying a new kitchen (of course at IKEA). Right now, there is 0% financing with the IKEA Family payment card. This payment card from IKANO Bank is to be treated like a credit card. However, the credit card itself has about 14% interest on financing. Normally, the 0% financing at IKEA is around 6.8%. That means that even with the 0% financing currently offered at IKEA, I still have to pay the 14% from IKANO Bank.

Hello, I have never financed anything before and therefore have no experience with financing at IKEA. Did they tell you there that 14% is still due with the 0% financing? If an effective annual interest rate of 0% is stated, but in reality 14% interest would have to be paid, that would be misleading advertising.

Yes. Exactly this offer from IKEA with 0% financing. But since I do not yet have an IKEA Family payment card (only the regular IKEA Family card), I wanted to apply for it. At Ikanobank, under conditions, you can find the following:

Possible credit limit 300 euros – 15,000 euros, depending on creditworthiness
Interest rate Effective annual interest rate 14.95% /
Nominal annual interest rate: 14.01% (variable)
Debit date The debit date for the IKEA FAMILY payment card is always the 5th of the following month. If the 5th of a month falls on a weekend or a holiday, your installment will be debited on the next banking day.
Repayment Minimum installment 3% of the balance (at least 5 euros)
or any other amount
Special feature Free cash withdrawals with the IKEA FAMILY payment card at the Ikano Bank ATMs. Further information can be found at [IKEA-Finanzprodukte.de].

I find that quite misleading. Edit: I just spoke with an employee of IKANO Bank. I was explained that the interest rate from IKEA and that of IKANO Bank have nothing to do with each other.

Definitely confusing. As I understand it, with the payment card, just like with regular credit cards, you can arrange a repayment in installments without having to apply for it anew for each purchase.

With the financing, it is a contract for a one-time loan amount. That's why also "10 weeks shopping period from contract conclusion" and an additional application to the Family payment card application.