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Ikea_Groupie27 Jul 2015 13:21Hello!
I have already contacted IKEA but saw the message that a reply may take up to 21 days.
Can someone tell me which items are excluded from the financing?
Furniture is clear, but what about flooring, curtains, etc.?
I have already contacted IKEA but saw the message that a reply may take up to 21 days.
Can someone tell me which items are excluded from the financing?
Furniture is clear, but what about flooring, curtains, etc.?
P
paulinchen29 Sep 2015 22:44Everything from Ikea is financeable, but there is likely a minimum purchase amount required.
I am currently in the process of buying a new kitchen (of course from IKEA).
Right now, there is a 0% financing option available with the IKEA Family payment card. This payment card from IKANO Bank should be treated like a credit card. However, the credit card itself carries interest of around 14% when used for financing.
Normally, the 0% financing at IKEA is about 6.8%.
This means that even with the 0% financing currently offered by IKEA, I still end up with the 14% interest rate charged by IKANO Bank.
Right now, there is a 0% financing option available with the IKEA Family payment card. This payment card from IKANO Bank should be treated like a credit card. However, the credit card itself carries interest of around 14% when used for financing.
Normally, the 0% financing at IKEA is about 6.8%.
This means that even with the 0% financing currently offered by IKEA, I still end up with the 14% interest rate charged by IKANO Bank.
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IKEA-Experte19 Nov 2015 14:41Hello, I have never financed anything before and therefore have no experience with financing at IKEA.
Did they tell you there would still be a 14% charge with the 0% financing? If an effective annual interest rate of 0% is stated but you actually have to pay 14% interest, that would be misleading advertising.
Did they tell you there would still be a 14% charge with the 0% financing? If an effective annual interest rate of 0% is stated but you actually have to pay 14% interest, that would be misleading advertising.
Yes, exactly this IKEA offer with 0% financing.
Since I don’t have the IKEA Family Payment Card yet (only the regular IKEA Family card), I wanted to apply for it.
At Ikano Bank, the following conditions can be found:
Available 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 falls on a weekend or public holiday, your payment will be debited on the next banking day.
Repayment: Minimum payment 3% of the balance (at least 5 euros)
or any other amount
Special feature: Free cash withdrawals with the IKEA FAMILY Payment Card at Ikano Bank ATMs. More information can be found at IKEA-Finanzprodukte.de.
I find this rather confusing.
Edit: I just spoke with an employee of IKANO Bank. They explained to me that the interest rate from IKEA and that of IKANO Bank have nothing to do with each other.
Since I don’t have the IKEA Family Payment Card yet (only the regular IKEA Family card), I wanted to apply for it.
At Ikano Bank, the following conditions can be found:
Available 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 falls on a weekend or public holiday, your payment will be debited on the next banking day.
Repayment: Minimum payment 3% of the balance (at least 5 euros)
or any other amount
Special feature: Free cash withdrawals with the IKEA FAMILY Payment Card at Ikano Bank ATMs. More information can be found at IKEA-Finanzprodukte.de.
I find this rather confusing.
Edit: I just spoke with an employee of IKANO Bank. They explained to me that the interest rate from IKEA and that of IKANO Bank have nothing to do with each other.
I
IKEA-Experte19 Nov 2015 16:05Definitely confusing.
As I understand it, with the payment card, you can arrange installment repayments just like with regular credit cards, without having to apply for it separately for each purchase.
For financing, it is a contract for a one-time loan amount. That’s why there is a "10-week shopping period from the contract date" and an additional application on top of the Family payment card application.
As I understand it, with the payment card, you can arrange installment repayments just like with regular credit cards, without having to apply for it separately for each purchase.
For financing, it is a contract for a one-time loan amount. That’s why there is a "10-week shopping period from the contract date" and an additional application on top of the Family payment card application.
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