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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: AMEX - Costco Card

I have always, heard that the AmEx Costco card requires much higher scores (or, I assume, credit reports) than most of their other cards.

We've had quite a few posts from those who read somewhere about it being an easier card to get, and finding out the hard way that this was wrong.

And as txjohn said (I think it was he), having a heavy shopping history with Costco helps bunches.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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cartercorp
Posts: 851
Registered: ‎07-01-2008
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Re: AMEX - Costco Card


haulingthescoreup wrote:
I have always, heard that the AmEx Costco card requires much higher scores (or, I assume, credit reports) than most of their other cards.

That really sums it up for me..I was going to apply for this card in June as well as a few other. But now the more i read about Amex i think its time to blow that plan off.....

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lacedup2go
Posts: 81
Registered: ‎03-27-2008
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Re: AMEX - Costco Card

Hauling - I read the same thing on other websites that it was good card to get if your credit was fair to good.  I'll let everyone know the response, but I'm pretty sure it will be a big fat no.  I spend about $120 a month their (unless they take into account my fiancee - we share a membership) - he probably spends another $150 a month on top of what I spend (we don't live together).

 

Anyways - thanks all for the advice.  I guess I just need to be patient for bigger CL's and wait until my scores get better and I'll maybe look into Alliant CU.

Before MyFico as of 11/2007: EQ: 554 TU: 530
After MyFico as of 2/2009: EQ: 678 EX: 662 TU: 654
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Kay_Cee
Posts: 199
Registered: ‎01-16-2008
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Re: AMEX - Costco Card

I'm surprised to hear people say this is a hard card to get.  I got mine in February of 2006 and I literally had no credit history because all of my baddies had dropped off of my CR.  I'd be surprised if I even had a FICO score at the time:smileywink:!  They opened my account with a $1,100 CL and then gave me an auto increase to $5,300 in June of 2006 and then some time last year changed my membership date to 1987.  (That account got CO a long time ago.)  Anyway, I've had good luck with mine and I'm doing everything I can to stay off of their radar screen.
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haulingthescoreup
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Re: AMEX - Costco Card


Kay_Cee wrote:
I'm surprised to hear people say this is a hard card to get.  I got mine in February of 2006 and I literally had no credit history because all of my baddies had dropped off of my CR.  I'd be surprised if I even had a FICO score at the time:smileywink:!  They opened my account with a $1,100 CL and then gave me an auto increase to $5,300 in June of 2006 and then some time last year changed my membership date to 1987.  (That account got CO a long time ago.)  Anyway, I've had good luck with mine and I'm doing everything I can to stay off of their radar screen.

Wise idea!

Had you been with Costco for a while and shopped there a lot? The approvals and initial CLs on this card seem strongly tied to shopping history, which is pretty unusual for co-branded store cards.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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Kay_Cee
Posts: 199
Registered: ‎01-16-2008
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Re: AMEX - Costco Card

Not really.  I think my memebership with Costco was all of 6 months old and I used it primarily to buy cigarettes (which I've since quit) and probably spent a total of $200 or $300 a month there.  And I am not kidding when I said I had no credit when I applied for the card.  I had just moved back to this area and I remember the apartment complex I moved into telling me they couldn't find any credit on me.

 

 

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Pj1369
Posts: 844
Registered: ‎09-23-2007
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Re: AMEX - Costco Card

I just got this card. Scores all are above 760. However, I got a pretty unsatisfactory limit relative to other cards, only $2K. However, I've only been with Costco for 2 months and I spend about $200 each month. If initial CL is related to spending patterns, then I better understand the "why." All my other other CCs have limits between$10K and $20K.

 

Hmmm...the Amex CSR said I should get a nice increase after 60 days. She aslo said starting CLs are lower for all Amex cards now-a-days (usually not more than $2K) and can go up significantly after the initial 60 days period. Has anyone else had a similar experience?

 

I've been a long-time Amex card holder (alwys pay bill fully each month) and my blue cash has a CL of $15K. Hence, my disappointment. :smileysad: I wanted to use this card for all my upcoming travel...3% back on restaurants and 2% on other travel purchases!!

__________________________________________________
Time to clean house and get rid of CCs from bad CCCs. Opt'd Out and Paying off the Balance: BofA. Closed: Chase Freedom. Keeping: Amex Blue, Amex Costco Cash back, Citi Forward, USAA MC, USAA Amex, and PenFed Platinum Cash Back. Next up for review: Chase Sapphire...
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haulingthescoreup
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Re: AMEX - Costco Card


Pj1369 wrote:

I just got this card. Scores all are above 760. However, I got a pretty unsatisfactory limit relative to other cards, only $2K. However, I've only been with Costco for 2 months and I spend about $200 each month. If initial CL is related to spending patterns, then I better understand the "why." All my other other CCs have limits between$10K and $20K.

 

Hmmm...the Amex CSR said I should get a nice increase after 60 days. She aslo said starting CLs are lower for all Amex cards now-a-days (usually not more than $2K) and can go up significantly after the initial 60 days period. Has anyone else had a similar experience?

 

I've been a long-time Amex card holder (alwys pay bill fully each month) and my blue cash has a CL of $15K. Hence, my disappointment. :smileysad: I wanted to use this card for all my upcoming travel...3% back on restaurants and 2% on other travel purchases!!



Hey, stranger, how's it going?

I just got a Blue with a $2500 CL and 0% APR for 6 months (like I'd be crazy enough to use that) and closed the Gold in order to duck the annual fee.

Maybe because you already have $15K on another AmEx product?
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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Pj1369
Posts: 844
Registered: ‎09-23-2007
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Re: AMEX - Costco Card

Howdy hauling - yeah, I offered to decrease my blue CL...they said "no" and "wait", lol....shucks!

 

All else in life is good. Working on saving for a house now...the financial journey never ends :smileyhappy:

__________________________________________________
Time to clean house and get rid of CCs from bad CCCs. Opt'd Out and Paying off the Balance: BofA. Closed: Chase Freedom. Keeping: Amex Blue, Amex Costco Cash back, Citi Forward, USAA MC, USAA Amex, and PenFed Platinum Cash Back. Next up for review: Chase Sapphire...
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turtleaben
Posts: 18
Registered: ‎12-19-2008
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Re: AMEX - Costco Card


Pj1369 wrote:

I just got this card. Scores all are above 760. However, I got a pretty unsatisfactory limit relative to other cards, only $2K. However, I've only been with Costco for 2 months and I spend about $200 each month. If initial CL is related to spending patterns, then I better understand the "why." All my other other CCs have limits between$10K and $20K.

 

Hmmm...the Amex CSR said I should get a nice increase after 60 days. She aslo said starting CLs are lower for all Amex cards now-a-days (usually not more than $2K) and can go up significantly after the initial 60 days period. Has anyone else had a similar experience?

 

I've been a long-time Amex card holder (alwys pay bill fully each month) and my blue cash has a CL of $15K. Hence, my disappointment. :smileysad: I wanted to use this card for all my upcoming travel...3% back on restaurants and 2% on other travel purchases!!


 

Got my AMEX Costco card exactly 6 months ago with a 2K CL. Today auto CLI to 4K.


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