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idmd
Posts: 194
Registered: ‎09-18-2009
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Amex question

I currently have an Amex gold which I received in 2000. This is one of my oldest accounts on my credit history. I shop at Costco frequently and was thinking of getting the Costco Amex and so I really wouldn't need for the gold card.

 

If I get the Costco card and close the gold card how would this effect my scores with respect to age of my oldest account? Does Amex report how long you've had a specific card (green, gold, plat) or do they report how long you've been with Amex?

 

 

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austinguy907
Posts: 304
Registered: ‎03-03-2008
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Re: Amex question

If you do this make sure to call AMEX and have them put your member since date on the CostCo card and you shouldn't lose any history or see a drop on your reports.
Scores by lender CLI requests 4/15/14: EQ 760 / TU 755 / EX
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haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: Amex question


idmd wrote:

I currently have an Amex gold which I received in 2000. This is one of my oldest accounts on my credit history. I shop at Costco frequently and was thinking of getting the Costco Amex and so I really wouldn't need for the gold card.

 

If I get the Costco card and close the gold card how would this effect my scores with respect to age of my oldest account? Does Amex report how long you've had a specific card (green, gold, plat) or do they report how long you've been with Amex?

 

 



Good move --definitely pick up the Costco a month or so before the Gold hits its birthday.

All closed accounts continue reporting for up to ten years (EQ is squirrelly), and as long as they're on your reports, they're contributing to your AAoA.

AmEx is the only bank that reports how long you've been with them. No matter when you get a card, it will show the year that you first joined (with the month that you got that particular card.) It appears that with the Costco card, the date is driven by the Costco membership, rather than the AmEx membership. This would be good or bad, depending on which was older.

For more explanations on how closed accounts affect your credit, please read fused's Closing Credit Cards, linked in my siggy below.
* 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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idmd
Posts: 194
Registered: ‎09-18-2009
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Re: Amex question


It appears that with the Costco card, the date is driven by the Costco membership, rather than the AmEx membership. 
______________________________________________________________________________________________________________________
 

My biggest worry is I'm coming up on my ten year anniversary with AMEX this January but I've been with Costco for 4 years. It's early and I'm sleep deprived so bare with me:
1. Does that mean if I close my Gold card and get the Costco card that in January (my anniversary with AMEX) the gold card will disappear from my file and it will only show my account with AMEX starting from four years ago (my anniversary with Costco)?
2. Is this something that is set in stone or is it simply the way they "usually" do it? I guess what I'm asking is has anyone been successful in getting them to use their start date with AMEX instead of their start date with Costco on the Costco AMEX card? 
 Thanks in advance! 

 

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manyquestions
Posts: 307
Registered: ‎10-20-2008
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Re: Amex question


idmd wrote:

It appears that with the Costco card, the date is driven by the Costco membership, rather than the AmEx membership. 
______________________________________________________________________________________________________________________
 

My biggest worry is I'm coming up on my ten year anniversary with AMEX this January but I've been with Costco for 4 years. It's early and I'm sleep deprived so bare with me:
1. Does that mean if I close my Gold card and get the Costco card that in January (my anniversary with AMEX) the gold card will disappear from my file and it will only show my account with AMEX starting from four years ago (my anniversary with Costco)?
2. Is this something that is set in stone or is it simply the way they "usually" do it? I guess what I'm asking is has anyone been successful in getting them to use their start date with AMEX instead of their start date with Costco on the Costco AMEX card? 
 Thanks in advance! 

 


My AMEX Costco card got the AMEX membership date.  I was brand new to Costco, long time amex.  

 

I would go ahead and apply online for amex costco card.  When you go through the application process on amex's web site it will ask you if you already have an amex card at the top of the application.  Click and put a dot in the circle that says you already have an amex card, it will ask you which card you want to base the info on and will present you with a list of the amex cards you currently have open.  Click and put a dot in the circle next to your gold card.  Continue to fill out your costco membership number and anything else they ask.  When you submit you will get a message that says they hope you are approved and that you will find out in 7-10 days.  They need to get your costco purchasing info because the limit is based partially on how much you spend at costco.  I was brand new to costco with zero costco spending info and they gave me 4K limit.  If you spend a lot there on a regular basis you could get a higher limit, or not, who knows, but they supposedly use that info in their credit limit formula.  When I got the card it had the same membership date as my other amex card.

 

If you apply in store you can get an instant approval because they have access to your purchasing data but then maybe they give you the costco membership date because they don't have access to your amex membership data, I don't know.  But I do know posters have reported both ways on the membership date.  Some get the amex membership date and some get the costco membership date.  If you apply in store and get the costco membership date I think you could probably call amex card replacement services and get the opening date changed to your original amex membership date, that usually works for those with another current amex account.

 

I like the costco card better than my old green card which was my old amex card.  I did what you are thinking of doing.

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haulingthescoreup
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Re: Amex question


manyquestions wrote:

My AMEX Costco card got the AMEX membership date.  I was brand new to Costco, long time amex ... But I do know posters have reported both ways on the membership date.  Some get the amex membership date and some get the costco membership date.  If you apply in store and get the costco membership date I think you could probably call amex card replacement services and get the opening date changed to your original amex membership date, that usually works for those with another current amex account.

 

I like the costco card better than my old green card which was my old amex card.  I did what you are thinking of doing.



Thank you for this clarification! I was a little dubious about this one; thus the "it appears" dodge. :smileywink:


idmd wrote:

My biggest worry is I'm coming up on my ten year anniversary with AMEX this January but I've been with Costco for 4 years. It's early and I'm sleep deprived so bare with me:
1. Does that mean if I close my Gold card and get the Costco card that in January (my anniversary with AMEX) the gold card will disappear from my file and it will only show my account with AMEX starting from four years ago (my anniversary with Costco)?...

The Gold card will continue to report on your credit reports for up to ten years, or whenever Equifax gets tired of it.

I closed my Gold when I opened the Blue, and the Gold is still there on my reports. (The Blue has the year that the Gold was opened.)

It sounds like from manyquestions' experience, you can get the older date on it.


...hoping to lay eyes on an actual Costco building before I die... :smileytongue:
* 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
Regular Contributor
idmd
Posts: 194
Registered: ‎09-18-2009
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Re: Amex question

Interesting, I applied online and it never asked me if I already had an AMEX card and I had to fill in ALL the data by hand. Well, if approved I'll call and see if I can have them put the year I joined AMEX instead of the year I joined Costco.

 

Hoping to simplify my CC life down to a USAA Mastercard (which I already have with a nice 21K CL) and a Costco AMEX. These two should take care of my needs. 

 

Thanks everyone! 

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idmd
Posts: 194
Registered: ‎09-18-2009
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Re: Amex question

So I submitted my Costco AMEX app a few days ago online and I know it said something like "if you're cool enough for this card you'll get it in 7-10 days" but is there anywhere to check the status? It doesn't show up on AMEX.com and I haven't received any contact at all. 
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jaysdad2k
Posts: 368
Registered: ‎02-07-2008
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Re: Amex question

On the main Amex page it has a tab at the top that says "Apply for a card". Click on that and the last one is "Check application status".

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4/11 TU 743 4/11 EQ 763
Regular Contributor
idmd
Posts: 194
Registered: ‎09-18-2009
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Re: Amex question


jaysdad2k wrote:

On the main Amex page it has a tab at the top that says "Apply for a card". Click on that and the last one is "Check application status".


Yeah I tried that but it  doesn't show up there. The AMEX website has always been spotty for me.  

 


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