GE Consumer Finance and IKEA Enter Partnership to Offer Store-Branded Credit Card

STAMFORD, CT – GE Consumer Finance, the consumer lending unit of General Electric Company, today announced that it will offer a new private label credit card to U.S. customers of IKEA, the world’s leading home furnishings retailer. The IKEA Card will be issued by GE Consumer Finance and will be available to IKEA shoppers in the coming months.

“We’re delighted to begin working with IKEA, an innovative retailer that offers great value to its customers,” said Margaret Keane, president and chief executive officer of GE Consumer Finance’s Retail Consumer Finance unit. “We look forward to helping IKEA drive sales and enhance customer loyalty through a store-branded credit card with a range of benefits.”

“The IKEA Card will be a natural extension of our effort to build closer relationships with our customers,” said Matti Naar, marketing manager for IKEA U.S. “The card will provide a new and convenient way for customers to purchase their home furnishings. GE Consumer Finance has tremendous expertise with private-label credit, and we are pleased to have such an experienced partner.”

Consumers will be able to apply for the IKEA Card at in-store kiosks or on the company’s web site (www.ikea-usa.com). Those who are approved will be able to shop with the card right away. In addition, the IKEA Card will offer a host of benefits, including special event mailings, payment promotions and no annual fee.

The IKEA Card is the latest in a succession of new and enhanced card offerings from GE Consumer Finance and its retail partners such as Wal-Mart, Sam’s Club, Meijer, QVC and Bass Pro Shops, among others.