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New Member
chen9810
Posts: 7
Registered: ‎07-22-2012
0

Re: CostCo Amex

[ Edited ]

You are right. So the real benefit of Costco Amex is a free upgrade from Gold Membership to Executive Membership. ($50 annual savings). 

Am I right?


-Cain- wrote:
OP, congrats and nice CL!

chen9810 wrote:

Why do you apply costo amex? I think other Amex cards can also been used at Costo. Costo Amex gives 3% rewards at Costco, but 2% of them are actually from Costco Gold Membership, you are actually getting 1% from using the card.


2% from Gold? I know executive gives 2%, I thought Gold was the basic no reward membership.



Starting Score (FICO): EX: 667 7/6/2012, EQ: 721 7/22/2012
Goal Score: 750 till Dec 2013

Chase: Freedom (1.7k), Sapphire Preferred (5k), Hyatt (5k), United (5.7k); Amex: Blue Cash (5k), Blue Sky (5k); Citi Dividend (4k); Discover More (5k); US bank FlexPerk Cash (2k); BoA student (2.5k)
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Valued Contributor
-Cain-
Posts: 1,283
Registered: ‎04-06-2011
0

Re: CostCo Amex


chen9810 wrote:

You are right. So the real benefit of Costco Amex is a free upgrade from Gold Membership to Executive Membership. ($50 annual savings). 

Am I right?


-Cain- wrote:
OP, congrats and nice CL!

chen9810 wrote:

Why do you apply costo amex? I think other Amex cards can also been used at Costo. Costo Amex gives 3% rewards at Costco, but 2% of them are actually from Costco Gold Membership, you are actually getting 1% from using the card.


2% from Gold? I know executive gives 2%, I thought Gold was the basic no reward membership.




That's a good question. I'm not sure if it upgrades one's membership level or not, I already had Executive when I signed up.

Starting Score: EQ 681 5/2011, EX 656 6/2011 (PSECU), TU98 642 6/2011
Current Score: EQ 741 12/2011, EX 734 11/2012 (PSECU), TU98 695 9/2012
Goal Score: 725+ across the board


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Frequent Contributor
BigDaddy18
Posts: 673
Registered: ‎04-23-2009
0

Re: CostCo Amex

The card doubles as your Costco card you get your picture on the back of it and yes it's also the Executive card and it pays for itself, great card I love mine!


Starting Score: EQ FICO 777
Current Score: EQ FICO 803
Goal Score: EQ FICO 810


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Frequent Contributor
iMacDrew
Posts: 350
Registered: ‎07-13-2012
0

Re: CostCo Amex

either way congrats on the card, thats a nice limit. 

Lender pulled 10-10-13
EQ Fico 715 | EX Fico 714 | TU Fico 703
Valued Contributor
Repo-ed
Posts: 2,960
Registered: ‎02-09-2012
0

Re: CostCo Amex

One day I/we will get that costco card!

5/2012: 560 credit scores across the board and $500 secured CC
12/2014: 750+ scores across the board and $80k in revolving credit

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Established Member
emily504
Posts: 22
Registered: ‎04-24-2012
0

Re: CostCo Amex

Regardless, i like the cash back even thought for costco only 1%, but I alwaus think this way, it may look like very tiny amount but it add up. I like the 3% cash back for gas which is great. 

Thanks everybody for all your great advice. Love this forum

Valued Contributor
Crashem
Posts: 3,096
Registered: ‎01-26-2012
0

Re: CostCo Amex

Just confirmed with Costco. Amex Costco card does not upgrade you to executive level. If you want the 2% cash back, you need to pay for executive level. Over around 2800 a year at Costco for it to make financial sense.
               LIMITS IN CARD DESCRIPTIONS
Regular Contributor
Quips
Posts: 157
Registered: ‎03-05-2012
0

Re: CostCo Amex

Agree - i have had this card for about 2 years and love it. The thing i really like is the 2% cash back on restaurants as well since we eat out a good bit.
FICO: EQ 769, TU 762 , EX ???

Established Contributor
searchingfor67
Posts: 665
Registered: ‎08-02-2011
0

Re: CostCo Amex


emily504 wrote:

Regardless, i like the cash back even thought for costco only 1%, but I alwaus think this way, it may look like very tiny amount but it add up. I like the 3% cash back for gas which is great. 

Thanks everybody for all your great advice. Love this forum


+1
TU FICO: 772 (Discover) • Exp FICO: 772 (Citi)

Amex BCP $13K | Amex Costco TE $10.4K | Amex SPG $10.1K | Chase Freedom Visa Signature $15K | Chase Sapphire Preferred Visa Signature $15K | Chase Ink Plus World Elite MC $5K | Citi TY Preferred World MC $10.1K | Citi Forward $10K | Discover IT $9K | JP Morgan Chase Select Visa Signature $9.2K | NFCU Flagship Visa Signature $25K | NFCU LOC $15K | NFL Visa Signature (Saints) $8.1K | USAA Amex $10K | USAA World MC $9K
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2NE1
Posts: 1,002
Registered: ‎12-06-2011
0

Re: CostCo Amex


Repo-ed wrote:

One day I/we will get that costco card!


Same here, I remember I applied two times back in the day (about four years ago) when I had no knowledge of how credit scores worked and was always denied! LOL, now I am working towards reaching this goal on the right path! :smileyhappy:


Starting Score: 486 EQ, 529 TU, 518 EX 12/6/2011 (FICOS - lender pull)
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