Costco Amex Drama - my impulsive action!

[DigitalArk]

Just closed my Costco Amex today. I opened it 3 days ago. What a drama, because of my impulsive action to open the card in the first place! 

The Amex CSR I spoke to told me that the card would not be reported to the major credit bureaus until July 22. So I don't think it will even show up on my credit reports. 

The consequence for me is taking a hit on my inquiries, so far. Besides that, what other possible negative impacts?

[Exonumist]

Why close it?

[lg8302ch]

What happened?

[PokemonMaster]

You should have just left it open.

[migliogiorni]

+1! was that your first approval with amex? they have an awesome CLI policy. Wouldn't have hurt to keep it open. What happened that made you want to close it?

[migliogiorni]

BTW, even though you closed the account it will still show up on your report.

[youngandcreditwrthy]

Shouldve kept it! Amex is da bomb!

[myjourney]

Paid the price with a HP with an excellent lender and then didn't use it to your advantage. I completely don't understand your thinking?

This is a prime example of why we tell people to research what they want and why. Don't apply for a card that doesn't reward or benefit you.

The biggest question I have is that most people that apply for the Costco card shop there and to close a card with an lender that offers a 61 day CLi opportunity to triple your limit thus improving your UTL and purchasing power just leaves me puzzled.

[09Lexie]

I'm confused too. Hopefully OP has a good reason

[Creditaddict]

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@DigitalArk wrote:

Just closed my Costco Amex today. I opened it 3 days ago. What a drama, because of my impulsive action to open the card in the first place! 

The Amex CSR I spoke to told me that the card would not be reported to the major credit bureaus until July 22. So I don't think it will even show up on my credit reports. 

The consequence for me is taking a hit on my inquiries, so far. Besides that, what other possible negative impacts?

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Call back and change your mind again... Send that card and keep it!!! why did you close? What was limit?