What is Creation Finance and is it closing?
Creation Financial Services Limited is a UK consumer finance company that provides credit cards and instalment finance products for retail partners and direct consumers. Creation is a subsidiary of BNP Paribas Personal Finance, part of the French banking group BNP Paribas. Creation has managed credit card programmes for retailers including IKEA and Debenhams (legacy). Reports of creation closing relate to specific partner programmes rather than the company as a whole.
Which retail brands use Creation Finance for credit cards?
Creation Financial Services has managed credit card programmes for IKEA (IKEA Family Card with interest-free credit), and historically for other retail partners. Creation also issues its own direct-to-consumer credit products. Because Creation processes payments on behalf of retail partners, you may see Creation Financial Services or Creation Consumer Finance on your bank statement for payments to retail store credit accounts.
Does Creation Finance use open banking?
As an FCA-regulated consumer credit provider and subsidiary of BNP Paribas Personal Finance, Creation is subject to the Payment Services Regulations 2017 for its payment services. Creation may use open banking affordability data as part of credit application assessment, consistent with the FCA’s Consumer Duty requirement for meaningful affordability checks. Creation credit card accounts can be connected to FCA-regulated financial management apps via open banking.
Open Banking in Practice: Creation Financial Services Limited is registered with the FCA for consumer credit activities and regulated under FCA conduct rules. It is not a bank — it is a specialist consumer finance company. The FSCS does not protect credit balances. Disputes about Creation credit products can be referred to the Financial Ombudsman Service. Read more about UK store credit and open banking on openfuture.world.
FAQ
Is Creation credit card closing down?
Individual Creation-managed retail card programmes have closed as retail partners ended relationships; the Creation company itself continues to operate under BNP Paribas.
Which bank owns Creation Finance?
Creation Financial Services is a subsidiary of BNP Paribas Personal Finance, part of the French banking group BNP Paribas.
Can I use my Creation card abroad?
Creation credit cards operate on the Mastercard or Visa network and can be used internationally; check your specific card’s terms for foreign transaction fees.