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Amex EveryDay Preferred is my new Costco Card

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ForumPheen
Regular Contributor

Amex EveryDay Preferred is my new Costco Card

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.


Starting Score: EX 651/EQ 654/TU 668
Current Score: 735/721/732
Goal Score: 751 as lowest score by 8MAY15


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Message 1 of 11
10 REPLIES 10
myjourney
Super Contributor

Re: Amex EveryDay Preferred is my new Costco Card

Backdated on the card sorry not on CR's thoSmiley Sad

Congrats 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 2 of 11
DeeBee78
Valued Contributor

Re: Amex EveryDay Preferred is my new Costco Card

An interesting choice for your Costco card. I'm guessing you're a fan of MR's instead of cashback?

 

 

Message 3 of 11
Anonymous
Not applicable

Re: Amex EveryDay Preferred is my new Costco Card


@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)?

Message 4 of 11
Anonymous
Not applicable

Re: Amex EveryDay Preferred is my new Costco Card

Congrats! Smiley Happy

Message 5 of 11
ForumPheen
Regular Contributor

Re: Amex EveryDay Preferred is my new Costco Card

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.

 


Starting Score: EX 651/EQ 654/TU 668
Current Score: 735/721/732
Goal Score: 751 as lowest score by 8MAY15


Take the myFICO Fitness Challenge

Message 6 of 11
alextercero
Super Contributor

Re: Amex EveryDay Preferred is my new Costco Card

Congrats

Current Credit Cards


Currently rebuilding as of (May 2021)

Current Fico Scores 8/9: (April 2024)


Credit Age:

Inquiries:

Message 7 of 11
OmarGB9
Community Leader
Super Contributor

Re: Amex EveryDay Preferred is my new Costco Card

Grats

Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 8 of 11
ScoreOrBeScored
Valued Contributor

Re: Amex EveryDay Preferred is my new Costco Card

Congrats on your success..

 

 Go for Citi Presitge!!!!

Message 9 of 11
Anonymous
Not applicable

Re: Amex EveryDay Preferred is my new Costco Card

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.

Message 10 of 11
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