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Ikea business credit app

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Here it is!!

 

Application faxed on 7/28 approval received for $5000 by mail on 8/1.

 

Paydex 80

Experian 37

YIB: 8

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Do thay report to exp or equifax business. if so do we need to purchace before reporting. Thanks

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Just got my approval letter, and will be purchasing a few items in the near future. I called and asked about report, the person I spoke with in A/R said they report to D&B for all accounts. You do have to make a purchase before the account will report (obviously).

 

Also, you can fax your PO to them, so if you know what you want, there is no need to go to an Ikea store.

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if anyone figured out how to actually use this credit, please let me know. my friend has tried with no success... the managers, phone people.. nobody knows what they're talking about. (at ikea)

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If you know what items you want, you can call in your order, and then fax your order to them. Their phone number is 8004344532. Some of the store managers are not aware of the PO accounts, so if the manager is clueless, write down the items/skus you want, and call that number.

 

Also, they do not recognize the words, business account, business credit, or anything like that. Accounts Receivable are the magic words.

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thanks for the response greywolf, the steps as i'm understanding are:

 

a) call 8004344532 and tell them the order

:P fax them to verify the same order to verify?

 

do the items need to be shipped or could they be picked up ?

 

thanks

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I'm not sure about their shipping policy, but the payment process was explained to me when I called and asked.

 

I'd image they can arrange pickup for you at the store, it wouldn't be that hard.

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ok thanks, so that was it? call the number... do you actually get anything other than the approval paper?

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I fax in ikea application couple day ago, call today for application status, I was told that i have to apply online with the e mail link that they sent me, did anyone apply online? thank

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I fax in ikea application couple day ago, call today for application status, I was told that i have to apply online with the e mail link that they sent me, did anyone apply online? thank

 

 

Same thing happened to me.

 

I got the link they sent to me via email and filled it out today. Any idea how long it will take to get a response??

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I didn't fill up the application online, I thought i should wait couple week for the application that I faxed in. on 10/1/09, I got a approval letter from Ikea, limit $5000. I did notice something from the online application they sent me, it said the maximum line of credit is $5000 from Ikea.

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Ikea, 2 years in business, 80 paydex, 5,000 shell, $2,500 home depot, $7000 staples, several Net30's (quill, uline, nebs, global, etc) and I was approved for $5,000 IKEA. I have paid the balance for the past 2 months and the limit was bumped to 10K!

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I didn't fill up the application online, I thought i should wait couple week for the application that I faxed in. on 10/1/09, I got a approval letter from Ikea, limit $5000. I did notice something from the online application they sent me, it said the maximum line of credit is $5000 from Ikea.

 

My limit has been raised to 10K, I think its the beginning limit is 5K. I did purchase over 15K in furniture and paid my card balance in full as well as made plenty of cash transactions with IKEA. I did need to PG the card.

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I didn't fill up the application online, I thought i should wait couple week for the application that I faxed in. on 10/1/09, I got a approval letter from Ikea, limit $5000. I did notice something from the online application they sent me, it said the maximum line of credit is $5000 from Ikea.

 

My limit has been raised to 10K, I think its the beginning limit is 5K. I did purchase over 15K in furniture and paid my card balance in full as well as made plenty of cash transactions with IKEA. I did need to PG the card.

Congrats!

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I recently applied for a business account with ikea and got a DENIAL letter! I have been in business for 7 months have a paydex of 80, EX is 44 and have 8 trade references reporting. I was wondering why do you think i was denied?

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I recently applied for a business account with ikea and got a DENIAL letter! I have been in business for 7 months have a paydex of 80, EX is 44 and have 8 trade references reporting. I was wondering why do you think i was denied?

 

How did you apply?

 

Online app or faxed in pdf app?

 

Is there a customer service rep that you could call and ask about your denial letter?

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I recently applied for a business account with ikea and got a DENIAL letter! I have been in business for 7 months have a paydex of 80, EX is 44 and have 8 trade references reporting. I was wondering why do you think i was denied?

 

How did you apply?

 

Online app or faxed in pdf app?

 

Is there a customer service rep that you could call and ask about your denial letter?

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are companies turning down new businesses because they have not been in business long enough? Does corporate aging play a factor on your approval for credit? Someone please answer me.

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are companies turning down new businesses because they have not been in business long enough? Does corporate aging play a factor on your approval for credit? Someone please answer me.

 

Yes, the age of your business is a big factor in getting credit granted. One thing you can do to help offset the newness of your business is to make large dollar purchases that get posted in your file. High dollar trades show you have substantial cashflow (or at least paint that image) and buy larger items and pay for them (which all companies that sell things would like you to buy the expensive stuff). If you buy a paper shredder for $39, they're gonna grant you enough credit (if any) to cover that type of purchase. Most people want revolving credit so they don't have to cough up a whole chunk of money all at once, but moneylenders are more impressed when they see a 4 or 5 figure payment in your file and it can influence their decision-making process more favorably in your direction. A new company that only shows small trades is perceived as not having money because they are in the business building phase and until you go through the motions for awhile and establish yourself, maybe you'll make it and maybe you won't, and most start ups struggle with cash flow and turning a real profit in the early stages. Remember most small businesses fail within the first 5 yrs. You have to think of how a lender who simply reads your companys' credit file is going to perceive your company. A company, even a newer one that makes bigger purchases may have gotten a loan to start their business, which means they either used their personal credit/assets to secure funding (which would seem to indicate they have xlnt personal credit and are confident enough in what they are doing to risk those things) or have a business plan in place and received an SBA or business loan and is buying the pieces of their unique business puzzle to execute their plan. Maybe they received a grant, etc, etc....Regardless, big money spenders are always ushered to the front of the line in all walks of life. I have one $2500 trade that has helped me out tremendously. The rest are smaller, but I'm starting to spend in the low hundreds to mid hundreds on purchases so it paints my company in a better picture. Some food for thought ; )

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