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Cancel Amex Costco Card?

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SunriseEarth
Moderator Emeritus

Re: Cancel Amex Costco Card?


@celluloid17 wrote:

@Anonymous wrote:

AMEX likely wont create a new product just for this, though a choice is possible, but typically they pick a generic product that you can transition over to if you wish to keep the TL. Im taking a wild guess here that the transition card will be the AMEX Everyday.


I would think if they're going to PC TE holders over to any existing Amex card it would be the BCE since both are cash back cards and the Everyday is a MR point card.  I'm holding out hope that they will create a new product that is a bit more exciting than either the BCE or Everyday card.  I would think they would want to in order to compete with whatever Citi is going to be offering (probably equal to or better than the TE) and by that point the Everyday card would be two years old and they may simply want to introduce something new to their credit card line-up. Here's to wishful thinking!

 

 


I don't think AMEX allows you to have two of the same card.   So since many of us who have TE also have BCE, I don't think they'll just PC to that, unless they change their policy.

 

I do think it's interesting that the Costco AMEX has absolutely no cobranding on the front of card.   I also think it's interesting that it looks like a green version of the SimplyCash Business card.   There's definitely some room in the AMEX portfolio for another cashback card, so I wouldn't be surprised if there's something new in the works.   

 

 



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Message 21 of 35
Anonymous
Not applicable

Re: Cancel Amex Costco Card?

That would certainly be more exciting than a vanilla flip into one of their existing rewards cards.

 

There isn’t anything in their current lineup that I would be interested in that doesn't have an AF.

Message 22 of 35
Anonymous
Not applicable

Re: Cancel Amex Costco Card?

Best case scenario, 5% restaurants, 1% everything else. Citi's new card is 5% Costco gas. Amex gives you the opportunity to add an account grandfathered in, and Citi takes over the TL back to that date, keeping APR, CL, etc in place. 2 $25k TLs.. A man can dream Smiley Happy
Message 23 of 35
slicemans
Regular Contributor

Re: Cancel Amex Costco Card?

I would wait. I have been told that the citi rewards will be better than current amex.

 

Message 24 of 35
onstar
Established Contributor

Re: Cancel Amex Costco Card?


@Anonymous wrote:

@onstar wrote:

@Anonymous wrote:

IMO:

 

Will Citi be issuing a Citi Costco Visa to EVERYONE that had the Amex Costco TE card, even Citi blacklisted people?

This is a big posibility. But again, blacklisted people may or may not get the card.  Im sure that's a discussion for a meeting between Citi and Costco.  Costco wont want to loose those customers only because they're blacklisted with Citi and Citi might not want to issue credit to those blacklisted.  Im sure they'll come to an agreement.

 

Will it be a new TL with an open date of 2016?

This is most likely what i think will happen since it is a different bank.  But im positive that the AMEX Costco card will keep the original open date.

 

Will the same CL be preserved?

Im going to say no.  I would be sure to check everyone's credit just to see what CL each person gets if it was my bank.  A least a SP

 

Will Amex create a new product and migrate all TE users to the new product?

From what i read, this is the option that has been talked about and everyone is anxious to know what the new card will look like and what benefits it will have.

 

Will Amex PC all the TE cards to one of the existing cards (maybe give us a 3 to pick from)?

Sure will be nice and it's possible.

 

This is just my opinion, although i dont have an AMEX, im also curious as to how this will turn out.


If you're REALLY curious, then you should app for the Amex Costco TE card now. Then you can experience it firsthand. That's what I did. Smiley Happy


I would BUT, got denied for the AMEX ED in June due to Ch7, no go on recon.  People have experiencing positve outcomes at 5 yr mark so im waiting for that.  My 5 yr CH7 mark will be in October but will apply until Jan/2016 if my scores are not good enough by October....hate the waiting game, feels like im back in the Marines Smiley Mad

 

When did you apply? what were your scores? baddies?


I applied last month, beginning of June. My scores are 700-711. I have 1 C/O that is 7 years old, scheduled to drop off next month.

 

 

BK DC 4/9/2018
FICO 08 (4/9/2018): EQ 647 EX 609 TU 620
FICO 08 (10/16/2020): EQ 676 EX 659 TU 653
Message 25 of 35
too-much-time
Frequent Contributor

Re: Cancel Amex Costco Card?


@onstar wrote:

I applied last month, beginning of June. My scores are 700-711. I have 1 C/O that is 7 years old, scheduled to drop off next month.

 

Congrats!

 

Message 26 of 35
onstar
Established Contributor

Re: Cancel Amex Costco Card?


@SunriseEarth wrote:

I don't think AMEX allows you to have two of the same card.   So since many of us who have TE also have BCE, I don't think they'll just PC to that, unless they change their policy.

 


Amex allows 2 SPG cards. Maybe they allow 2 co-branded cards but not 2 of their own?

 

I used to have the Amex Delta. I didn't want to pay the AF on it, so I asked Amex what my options were. They told me that I could PC to the SPG or the Hilton HHonors. I told them that I already had the SPG, and they said that I could get a second SPG card. I asked, "Why on earth would I or anyone want to do that?" They replied, "With each SPG card, you get credit for 2 stays & 5 nights towards Elite status, so you'll get credit for 4 stays & 10 nights with 2 cards. And you get Gold status at 10 stays or 25 nights."

 

BK DC 4/9/2018
FICO 08 (4/9/2018): EQ 647 EX 609 TU 620
FICO 08 (10/16/2020): EQ 676 EX 659 TU 653
Message 27 of 35
CreditUnionFan
Valued Contributor

Re: Cancel Amex Costco Card?


@SunriseEarth wrote:

@celluloid17 wrote:

@Anonymous wrote:

AMEX likely wont create a new product just for this, though a choice is possible, but typically they pick a generic product that you can transition over to if you wish to keep the TL. Im taking a wild guess here that the transition card will be the AMEX Everyday.


I would think if they're going to PC TE holders over to any existing Amex card it would be the BCE since both are cash back cards and the Everyday is a MR point card.  I'm holding out hope that they will create a new product that is a bit more exciting than either the BCE or Everyday card.  I would think they would want to in order to compete with whatever Citi is going to be offering (probably equal to or better than the TE) and by that point the Everyday card would be two years old and they may simply want to introduce something new to their credit card line-up. Here's to wishful thinking!

 

 


I don't think AMEX allows you to have two of the same card.   So since many of us who have TE also have BCE, I don't think they'll just PC to that, unless they change their policy.

 

I do think it's interesting that the Costco AMEX has absolutely no cobranding on the front of card.   I also think it's interesting that it looks like a green version of the SimplyCash Business card.   There's definitely some room in the AMEX portfolio for another cashback card, so I wouldn't be surprised if there's something new in the works.   

 

 


Amex used to have a cash-back card. I actually had it for some time until they went slash-happy and I said the heck with a mere $500 limit.

 

In some cases, when a bank changes their offering you might end up with two of a particular card. Those of us with multiple Chase Freedom cards are referred to as "grandfathered". 

I was going to garden... Honest!
Message 28 of 35
celluloid17
Established Contributor

Re: Cancel Amex Costco Card?


@SunriseEarth wrote:

@celluloid17 wrote:

@Anonymous wrote:

AMEX likely wont create a new product just for this, though a choice is possible, but typically they pick a generic product that you can transition over to if you wish to keep the TL. Im taking a wild guess here that the transition card will be the AMEX Everyday.


I would think if they're going to PC TE holders over to any existing Amex card it would be the BCE since both are cash back cards and the Everyday is a MR point card.  I'm holding out hope that they will create a new product that is a bit more exciting than either the BCE or Everyday card.  I would think they would want to in order to compete with whatever Citi is going to be offering (probably equal to or better than the TE) and by that point the Everyday card would be two years old and they may simply want to introduce something new to their credit card line-up. Here's to wishful thinking!

 

 


I don't think AMEX allows you to have two of the same card.   So since many of us who have TE also have BCE, I don't think they'll just PC to that, unless they change their policy.

 

I do think it's interesting that the Costco AMEX has absolutely no cobranding on the front of card.   I also think it's interesting that it looks like a green version of the SimplyCash Business card.   There's definitely some room in the AMEX portfolio for another cashback card, so I wouldn't be surprised if there's something new in the works.   

 

 


Good point about have two of the same card.  Surely, many TE holders may also have either the BCE or Everyday (etc.) so perhaps they need to create something so that there's no redundance or overlap for those people. 

 

Maybe they will introduce a non-business version of the Simply Cash card and keep the appearance of the current TE, but without any Costco branding on the back.  I believe that's what they did in Canada.  

 

 

 

 

 

Message 29 of 35
Anonymous
Not applicable

Re: Cancel Amex Costco Card?


@onstar wrote:

@Anonymous wrote:

@onstar wrote:

@Anonymous wrote:

IMO:

 

Will Citi be issuing a Citi Costco Visa to EVERYONE that had the Amex Costco TE card, even Citi blacklisted people?

This is a big posibility. But again, blacklisted people may or may not get the card.  Im sure that's a discussion for a meeting between Citi and Costco.  Costco wont want to loose those customers only because they're blacklisted with Citi and Citi might not want to issue credit to those blacklisted.  Im sure they'll come to an agreement.

 

Will it be a new TL with an open date of 2016?

This is most likely what i think will happen since it is a different bank.  But im positive that the AMEX Costco card will keep the original open date.

 

Will the same CL be preserved?

Im going to say no.  I would be sure to check everyone's credit just to see what CL each person gets if it was my bank.  A least a SP

 

Will Amex create a new product and migrate all TE users to the new product?

From what i read, this is the option that has been talked about and everyone is anxious to know what the new card will look like and what benefits it will have.

 

Will Amex PC all the TE cards to one of the existing cards (maybe give us a 3 to pick from)?

Sure will be nice and it's possible.

 

This is just my opinion, although i dont have an AMEX, im also curious as to how this will turn out.


If you're REALLY curious, then you should app for the Amex Costco TE card now. Then you can experience it firsthand. That's what I did. Smiley Happy


I would BUT, got denied for the AMEX ED in June due to Ch7, no go on recon.  People have experiencing positve outcomes at 5 yr mark so im waiting for that.  My 5 yr CH7 mark will be in October but will apply until Jan/2016 if my scores are not good enough by October....hate the waiting game, feels like im back in the Marines Smiley Mad

 

When did you apply? what were your scores? baddies?


I applied last month, beginning of June. My scores are 700-711. I have 1 C/O that is 7 years old, scheduled to drop off next month.

 

 


Yeah i dont think i'll get it.  Im just going to be discipline and wait 'til January to apply for the  AMEX PRG.

Message 30 of 35
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