Details of Pros

Most Rewarding When You Shop with IKEA: This card offers a generous 5% back when you shop IKEA stores or online. You can also get 5% back when you use your card to pay for Traemand or TaskRabbit installation and assembly services in case you don't have the time or energy to put together your IKEA purchases yourself. That's a decent rewards rate that you won't always find with other retail co-brand or closed loop store credit cards. 

Automatic Enrollment in IKEA Family Membership Program: New cardmembers are automatically enrolled in IKEA Family, which yields a few benefits of its own. With IKEA Family, you have access to exclusive discounts on selected items, workshops and events, and free hot drinks every time you visit an IKEA store. You can also join IKEA Family without the card, although you’ll need to enroll separately.

Earn Rewards Anywhere Visa Is Accepted: Unlike some closed loop store rewards credit cards, the IKEA Visa gives you a chance to earn a percentage of what you spend back anywhere Visa is accepted. That means you can get rewarded whether you're buying groceries, shopping at your favorite department store, or using your card to book a trip. Closed loop retail store cards limit you to spending and earning rewards at just their own stores. 

Details of Cons

Rewards Can Only Be Redeemed as Billing Statement Credit: With a standard rewards card you might be able to redeem rewards for statement credit, cash back, gift cards, travel, or other options. The IKEA Visa credit card redeems rewards automatically as a credit against your billing statement. Rewards are redeemed in $15 increments. 

Above-Average APR for Purchases and Balance Transfers: This card's APR for purchases and balance transfers makes it a little less appealing if you plan to carry a balance. There's no introductory APR for either one, so you'll be paying the regular variable rate from the time you open your account. 

No Traditional One-Time Offer: The IKEA Visa credit card does come with a one-time offer but not the kind you'd expect with a typical cash back credit card. Instead of getting several hundred dollars in cash back for meeting a minimum spending requirement, you'll earn rewards that can be applied toward IKEA purchases.