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Valued Member
Posts: 33
Registered: ‎05-11-2012
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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
Super Contributor
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
Posts: 3,322
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.

 

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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!

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