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Costco Amex Drama - my impulsive action!

Super Contributor

Re: Costco Amex Drama - my impulsive action!


DigitalArk wrote:

Well, I did not really need that card.

 

I am trying to keep it 3 from now on and will think twice to apply for any credit cards in the future.

 

I was concerned having too many credit cards would affect my future loans if I had use up all my available credit.


You would have been fine IMHO

 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 31 of 94
Valued Contributor

Re: Costco Amex Drama - my impulsive action!


youngandcreditwrthy wrote:
Digitalark- if you wanted to pc, you could wait 13 months, then get a BCE or BCP as you seemed to have mentioned in your op (original post).

I talked to an Amex CSR and was told that Costco Amex was one of their few cards that could not do a PC. Smiley Sad

Message 32 of 94
Super Contributor

Re: Costco Amex Drama - my impulsive action!


DigitalArk wrote:

I was concerned having too many credit cards would affect my future loans if I had use up all my available credit.


Ah, "too much available" credit only applies when you get north of $100K.  Under that amount, there is no such thing as "too much available" credit.  And, the number of accounts isn't all that relevant, so long as you manage them.

Message 33 of 94
Moderator Emerita

Re: Costco Amex Drama - my impulsive action!

IMO, that Amex is more valuable than your USAA Amex. I'd call them back and see if you can keep it open - tell them you were talking in your sleep.
Message 34 of 94
Frequent Contributor

Re: Costco Amex Drama - my impulsive action!

Brings up an interesting question though. Would OP still be able to use 2013 as a member date in the future?

Message 35 of 94
Super Contributor

Re: Costco Amex Drama - my impulsive action!


09Lexie wrote:
IMO, that Amex is more valuable than your USAA Amex. I'd call them back and see if you can keep it open - tell them you were talking in your sleep.

Shaking my head 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 36 of 94
Super Contributor

Re: Costco Amex Drama - my impulsive action!


Dubious wrote:

Brings up an interesting question though. Would OP still be able to use 2013 as a member date in the future?


If they reopen yes

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 37 of 94
Super Contributor

Re: Costco Amex Drama - my impulsive action!


Dubious wrote:

Brings up an interesting question though. Would OP still be able to use 2013 as a member date in the future?


You mean, if he were to reapply for the Amex that he just closed?  Smiley Very Happy

Message 38 of 94
New Contributor

Re: Costco Amex Drama - my impulsive action!


DigitalArk wrote:

Well, I did not really need that card.

 

I am trying to keep it 3 from now on and will think twice to apply for any credit cards in the future.

 

I was concerned having too many credit cards would affect my future loans if I had use up all my available credit.


There is no reason to only have 3. Of course you should only get cards that you are going to use adn which will be valuable to you. Looking at your current cards I think this Coscto AMEX would definitely be that. As for 'too much credit', you only really hear that from credit card companies when you have more than 1:1 limits of your income. It won't affect getting loans. For loans though you want a nice thick file. That means a number of good cards, with good limits on them.

If women didn't exist, all the money in the world would have no meaning. -- Aristotle
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Message 39 of 94
Frequent Contributor

Re: Costco Amex Drama - my impulsive action!


Open123 wrote:

Dubious wrote:

Brings up an interesting question though. Would OP still be able to use 2013 as a member date in the future?


You mean, if he were to reapply for the Amex that he just closed?  Smiley Very Happy


Haha well AmEx is a great ccc to have in your portfolio! You never know when OP will change his mind. 

Message 40 of 94