Ikea finance

Rose500

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Pixie5740

Whether you are accepted or not is all down to your personal circumstances. Just because one person on the forum found the process straightforward and was accepted doesn't mean the same will happen for you.

Candyapple

Rose500 wrote: »

Hi, apologies if this isn't in the correct place. I'm looking for any experience people have in applying for 0% finance at ikea. I'm just wondering what the process is once you're in store and how easy it is? I also wondered if anyone has any experience of how easy it is to be accepted? I basically don't want to get there and have loads of furniture loaded up ready to go and then be rejected. I'm a recent graduate and have a contract to start work at the end of July, but I'm still classed as a student currently. I'm moving out of my parents for my new job and trying to get set up with furniture etc hence the ikea trip. I was recently approved for credit on a sofa but then rejected for a credit card that I tried to take out to pay for the ikea furniture. Thanks for any replies

I'm going to hazard a strong guess that you'll be declined. Try applying for it AFTER you've started working, even then you may need to wait a few months because you'll also need your electoral roll info to be updated which can take 2-3 months sometimes longer.

If you were declined for a credit card, again this will probably have been due to your student / unemployed status. Don't waste another hard search if you can avoid it.

Have you asked your parents if they can purchase the furniture for you and you repay them from your future earnings?

Candyapple

How much money were you looking to spend at Ikea?

[Deleted User]

They're all sorts of places you can get cheap and free furniture.

PasturesNew

Rose500 wrote: »

...finance .... recent graduate....get set up with furniture etc

Over the next 5 years your life will change in ways you can't even imagine.

Forget "furniture" ... if/when you need to move the last thing you'll want to be doing is paying for expensive removals people to get your new furniture in/out of an assortment of rentals, where it might/not fit.

Get some canvas wardrobes/hanging rails, some stackable plastic lidded boxes for clothes and a GOOD inflatable sofa.

£100 tops.

You can get some quite sturdy inflatables these days.

£20 https://www.aldi.co.uk/adventuridge-inflatable-sofa/p/076822151808600

StopIt

Rose500 wrote: »

Thanks for your reply. It's just quite difficult trying to get set up somewhere new but having this gap in earnings beforehand. My parents have helped me a lot over the years so I'm reluctant to ask them but it's a thought. I was approved for finance for the sofa and was actually emailed offering me an additional amount of interest free finance with the same company but it's other furniture is well out of my budget. Maybe I'll just have to have a very minimal looking house for a couple of months until I get sorted! Thanks again for sharing your thoughts.

Trust me, you do not want to be starting your independent life in debt.


Yes, I'm sure the stuff in Ikea is nice, but frankly, do you need to be spending £000's on this stuff? Do you not have any local furniture banks that you can get decent stuff on the cheap?


That way, you'll have your house stuff, and can then save up for more expensive stuff if you so wish. I know it's 0%, but that soon leads to an attitude of "I can pay the monthly amount so who cares" as the interest rates go from 0%, to an interest bearing CC, then loans etc.


Honestly, don't start down that path.

Candyapple

A cheaper and better option may be for you to apply for a graduate account to take advantage of the 0% overdraft:

http://www.moneysavingexpert.com/students/graduate-bank-accounts#graduateoverdraft

Arleen

Rose500 wrote: »

£600 as thats the minimum spend required and I need bedroom furniture and a dining set. I appreciate the other replies. I have done my sums however and am not trying to live beyond my means once I start work. I haven't got any other debts such as car loans/overdrafts/student credit cards etc.

If you need credit to pay for 600 quid worth of furniture that means you are currently trying to live out of your means because, well, you cannot afford to pay for 600 quid worth of furniture.

Get yourself a cheap matress as a bed, cheap/free sofa (inflatable ones work) and instead of borrowing money, save up, and buy the furniture in few months time when you got the cash to pay for it. That is how you live within your means, not by borrowing money.

amfan

Try freecycle, you never know, someone in your area might just be giving away things you need. Or Ebay there may be something going cheap. They may not be ideal, they may not match. But you can always replace items as and when you have the money.