Reply
Valued Member
wim
Posts: 33
Registered: ‎05-11-2012
0

Amex / Costco Card Letter

Hello, thanks in advance for the help.

 

I received an Amex / Costco letter in the mail.  It is not listed as a preapproval but an invitation to apply.  Is there any way to know if the letter is because they are interested vs. pulling my name from a Costco list?

 

The only relationship I have with Amex is via a corporate card. 

 

My scores are between 660 and 680.  The main reason for my poor scores is average length of account life (~1.3 years).  Any advice is appreciated.

 

 

Thank you!

wim

_________________________________
PNC Secured $2,500 | Discover More $1,200 | US Bank Normal $500 | HSBC 2% Cash Back $300

Transunion 658 | CreditKarma 657 | CreditSesame 673
Moderator
pizzadude
Posts: 9,674
Registered: ‎01-28-2010
0

Re: Amex / Costco Card Letter

I would consider it to be the same as a pre~approval, which is just a targeted offering based on specific demographics. Are you interested in this card specifically or just looking to get your foot in the door with AMEX ?
March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011
0

Re: Amex / Costco Card Letter


wim wrote:

Hello, thanks in advance for the help.

 

I received an Amex / Costco letter in the mail.  It is not listed as a preapproval but an invitation to apply.  Is there any way to know if the letter is because they are interested vs. pulling my name from a Costco list?

 

The only relationship I have with Amex is via a corporate card. 

 

My scores are between 660 and 680.  The main reason for my poor scores is average length of account life (~1.3 years).  Any advice is appreciated.

 

 

Thank you!

wim


 

It could be marketing Costco members, since they would be the only ones qualified for the card. If you're free of baddies and have at least a year of positive history reporting, you could be approved. It's iffy. I had about 2 yrs pos TLs reporting and no baddies, and got $2k w/Costco Amex. I don't know what my EX FICO was, but my estimate based on my EQ and TU at the time is high 600s.

 

I apped in the store while they were having an Amex promotion going on because I thought it might increase my odds. Don't know if it was a factor or not. However, if you do app, it's better to app in the store because otherwise your approval will be held up by your m'ship verification that they do w/Costco. If you have an invite w/a code, that might bypass that step, though.

 

Is your corp card your own biz or as an employee? If you're the principal, then it would likely help. If not, it wouldn't likely be a factor since you're ultimately not responsible for paying the card.

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}