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Just sharing my good news. Some weeks ago, I made a thread about Amex BCP and a post about my game plan with Amex.
With my Costco TE card coming to its demise, I wanted to make sure that I do not lose that line of credit. I had tried my hand at a 3x CLI and finally got in, going from starting limit of $7,500 to $22,500. Once that happened, my next step was to find the most suitable Amex product for me and apply, with the hopes that whatever card it is, it will match my Costco limit.
I am happy to report, that I am the proud new owner of an Amex EveryDay Preferred, and not only did they match my limit to the Costco card, they also retained my membership date! My card says "member since '14, but I want to be sure that this is indeed a backdated card. Where else should I be checking? I applied on Thursday, got the call to verify on Saturday, and card arrived on Monday.
Some other data points: EX FICO 08 score from Amex was at 729. Overall utlization reported at 6%, but Costco card was at $0, Amex Platinum also at $0. Have had 1 late report (23 months ago) on a store card. Got the sign up bonus for 30,000 point offer after $2k spend in 90 days.
Lastly, I was told by the rep that I will still receive an invite to product change Costco card but it will be a HP. I think I will consider it and possibly get the BCE, now that I realize that whatever they will send will be my actual Costco replacement and thus, I get to keep its limit.
Backdated on the card sorry not on CR's tho
Congrats
An interesting choice for your Costco card. I'm guessing you're a fan of MR's instead of cashback?
@ForumPheen wrote:
Lastly, I was told by the rep that I will still receive an invite to product change Costco card but it will be a HP. I think I will consider it and possibly get the BCE, now that I realize that whatever they will send will be my actual Costco replacement and thus, I get to keep its limit.
Congrats on the new card! Enjoy!
If they do a hard pull for a product change and presumably apply the same criteria when evaluating, how is that really any different from a brand new application I wonder (as a practical matter, I mean)?
Congrats!
Thank you ladies and gents!
Alas, my hope is diminished as you may very well be right, it is not looking like it is backdated after all. Back to montoring my AAoA for adverse effects. It is not a product change, just a new app.
The way I asked the rep is how he responded when he should've corrected me: "Can I product change my Costco card for another Amex card?" "You will get mail regarding doing a product change, but once you apply it will result in a hard pull."
I came to realize that I value my MR points more than seeing a statement credit. The Ritz card changed my perception on points accumulation; after being able to treat myself to a swanky retreat for 2 nights at a top tier RC hotel, I am on the hunt for the next escape to paradise. Nothing beats FREE.
Congrats
Congrats on your success..
Go for Citi Presitge!!!!
Congrats, but why? It will only be good at Costco for another 3 months. Costco going Visa opens up so many better cards than this.
The general speculation is that you will not need a HP to PC your TE.