Assorted questions about the AmEx Costco card (split off from other thread)

[haulingthescoreup]

As the AmEx CostCo card kept popping up on the What's in your wallet/purse, which 5 cc's would you choose thread, I thought I'd split them off to start a new thread. Here they are, sort of randomly attached.

Message Edited by haulingthescoreup on 01-30-2010 07:49 AM

[Kiwill]

I've seen a whole lot of Cosco AmEX cardholders here, why is this the preference over the blue?  Is it the ease to get the card? I'm not soo  interested in rewards points or cashback just to use my cc unless I knew I could pay in full each month.  I would be very interested in a favorite cc that offers gas rewards though, which one would be a good choice? 




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Message Edited by haulingthescoreup on 01-30-2010 07:44 AM

[Romeoo47]

Kiwill, I'm not sure if the AMEX Costco card is easier to get than the Blue.  At least for me, the card fits well into my lifestyle (i.e., personal preference).  I love the 3% cashback on dining.  I also get 3% back on gas (whenever I'm not getting 5% back from Discover) and 2% back on travel.  In addition, Costco is 5 minutes from my house.  So I almost exclusively use them for gas.  With that said, I don't think AMEX Costco is the best gas card out there.  Board members seem to speak very highly of PenFed.  I think they give 5% back on gas (correct me if I'm wrong). 



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Message Edited by haulingthescoreup on 01-30-2010 07:45 AM

[Jazzzy]

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@Kiwill wrote:
I've seen a whole lot of Cosco AmEX cardholders here, why is this the preference over the blue?  Is it the ease to get the card? I'm not soo  interested in rewards points or cashback just to use my cc unless I knew I could pay in full each month.  I would be very interested in a favorite cc that offers gas rewards though, which one would be a good choice? 

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PenFed gives 5% back on gas at the pump.

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Message Edited by haulingthescoreup on 01-30-2010 07:45 AM

[Kiwill]

I have a Cosco membership so I guess the Cosco AmEx will be the best fit for me in the AmEx line.  I think I will stick with Chase aswell because they have been willing to give me CLI's on request, although in small increments, they were still willing to do them with the two derogs on my report.  Of course i'd do the product change, what are the requirements for the Chase Sapphire and Freedom? 



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Message Edited by haulingthescoreup on 01-30-2010 07:45 AM

[elaine829]

What credit score do you have to have for the amex costco card? Who do they pull? Also did you have an baddies on credit report? And how many inquires are acceptable when you apply for them. I do shop at costco but my scores are equifax 683 and transunion 660. I was going wait till june or aug to apply so i can get some of my credit cards paid down utilization around 30 percent trying get down to 10 percent at least before applying also have 2 negative items from 05 on credit report.



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Message Edited by haulingthescoreup on 01-30-2010 07:46 AM

[Kiwill]

eaine829 - AmEX pulled Experian for me in the past and as recent as late last year.  The inquiries on my EX report are rediculous, when I got the letter back from them, it mentioned having too many inquiries and high revolving debt.  How many inquiries is too many for this card?  What is a safe util. level?

ETA:  I just checked my most recent EQ report (1/15) and my util had gone down from 68% to 54% and this doesn't even include the additional $2,900 in CLI's I received and payments since that date, Whoo Hoo!!!  I guess I'm closer to my prime cards like AmEx then I thought!!

Message Edited by Kiwill on 01-30-2010 08:16 AM

[manyquestions]

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@Romeoo47 wrote:
  the card fits well into my lifestyle (i.e., personal preference).  I love the 3% cashback on dining.  I also get 3% back on gas (whenever I'm not getting 5% back from Discover) and 2% back on travel.  In addition, Costco is 5 minutes from my house.   Board members seem to speak very highly of PenFed.  I think they give 5% back on gas (correct me if I'm wrong). Message Edited by haulingthescoreup on 01-30-2010 07:45 AM

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+1

I use AMEX Costco for dining and Costco, Penfed for gas and groceries I don't buy at Costco (don't always want 96 rolls of toilet paper).

[Anonymous]

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@Kiwill wrote:
I've seen a whole lot of Cosco AmEX cardholders here, why is this the preference over the blue?

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Simple numbers. For low and medium income, the Costco Amex has the better rewards than the Blue. The Blue is better if you push lots of money through it.

[elaine829]

Anyone know what credit score you have to have for costco amex?