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Costco Amex

Valued Contributor

Costco Amex

     How easy is a costco amex to get and how much does it cost? It certainly is one of the coolest looking cards out there. Not that I would app for a card because of what it looks like but I am just curious. Does getting Costco amex increase the odds of being approved for an amex greencard furthur on down the road?

10 REPLIES
Contributor

Re: Costco Amex

It Doesn't Have An Annual Fee As Long As You Have A Costco Membership Because Costco Credentials, Photo, And Whatnot Are Printed on The back Of The Card. I Think it's A Very Basic Card And Think Nothing Of It. Too Many People Have It.
Epic Contributor

Re: Costco Amex


dddewdrop wrote:

     How easy is a costco amex to get and how much does it cost? It certainly is one of the coolest looking cards out there. Not that I would app for a card because of what it looks like but I am just curious. Does getting Costco amex increase the odds of being approved for an amex greencard furthur on down the road?


The American Express Charge Cards (Green, Gold, Platinum) are the EASIEST cards to get approved for from American Express.

From Charge Cards I think the list is somehwere in the Delta, Blue, Costco for easiest credit cards but not sure it's totally been proven just how much of a difference it makes.  Honestly though with 6 months of credit history and a 650ish credit score you really might be able to get a charge card now! they are not nearly as stickler as the "fear of posts" and speculation is on the board.

I had a friend get approved with Gold a few years back with a 640 TU and they pulled EX and TU (when border approvals, they do sometimes)

my old roommate about 6 months ago got gold and he was in the 600-610 credit range... it's since been closed after he needed to pay late (they were fine with) but then the following month while still charging more he needed another month to pay and then was late on the extended pay and they shut him down!)

I mean I get he is kind of extreme on the opposite side of getting away with not really having the credit or the money to have a charge card but Amex is willing to risk it a bit more with the charge card because they can monitor and limit it a little bit more... however, limiting on a charge now that Zync isn't around is a lot higher then most credit cards start out for rebuilding! he was over $1100!!

if you want... Id apply! (gold, skip green)

Senior Contributor

Re: Costco Amex

I  have similar scores as you do, and got shut down 2 days ago app'ing for Delta & Green. 

JPM Ritz Carlton $8k I UMP Club $8k I CSP $8k | Chase Hyatt $5k I AMEX Green NPSL I AMEX Delta $2k I Citi AA $2k | C1 QS $4.5k
BOA UNC-CH Alumni $6k I Hawaiian WEMC $3k I Arrival $6.5k I IT $1.5k | Merrill+ $2k | Lowes $12k | Apple $2k | +23more
Scores: EQ:671 (FICO 11) EX:686 (FICO N/C) TU:686 (FICO N/C) *8-5-14*
Overall UTIL: 14% *Gardening Since: 1/20/16*
------------------------------------------------------------
Need to stay out of trouble.... Go Heels!!! ... GC Watchlist ( #1 since 12-12-13)
Epic Contributor

Re: Costco Amex


yudeology101 wrote:

I  have similar scores as you do, and got shut down 2 days ago app'ing for Delta & Green. 


I think it is important to add:

 

Do you have a BK?

Judgements?

Last Baddie?

Current Credit and Lines and how long since you opened those?

 

Given OP has a Discover and a $2k Chase tells me the chances are VERY HIGH for Approval of a Charge!  If I saw 650 and no chase and no discover, I would say no.

Established Contributor

Re: Costco Amex

The card is a nice bonus for costco members, but not sure of much value if you wouldn't join costco without it. The 3% on costco gas is great (but just above average for other gas). I would be shocked if you get approved as your first amex with a 650 score (but have been shocked before). However, if you build a history with amex, you can certainly get this card with less than perfect credit. I got it in december with several 6 year old charge offs and a score in the high 600s, but had 9 months of zync use and 6 months of hilton surpass use. Again, as a costco member, I find the card a nice addition to my membership. But I wouldn't have looked at it twice otherwise.
In wallet: Ink Plus 10k, AMEX TE 25k. In bag: CSP 16k, USAA WMC 15k, Hyatt 13k, United MPE 12k, AMEX HHonors 3k. In SD: Cap 1 QS 5k, Discover IT 7k. FICO 08 says my EQ is now 844, was 510 in 2010.
Senior Contributor

Re: Costco Amex

I'd try a revolver first, but otherwise- seems like Delta Gold is the easiest revolver to get
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Epic Contributor

Re: Costco Amex


Cdnewmanpac wrote:
The card is a nice bonus for costco members, but not sure of much value if you wouldn't join costco without it. The 3% on costco gas is great (but just above average for other gas). I would be shocked if you get approved as your first amex with a 650 score (but have been shocked before). However, if you build a history with amex, you can certainly get this card with less than perfect credit. I got it in december with several 6 year old charge offs and a score in the high 600s, but had 9 months of zync use and 6 months of hilton surpass use. Again, as a costco member, I find the card a nice addition to my membership. But I wouldn't have looked at it twice otherwise.

To add, While I don't think Amex will cancel your card if you wish to cancel your Costco Membership (that is why they state the AF (waived with membership) I don't believe you can actually apply if you do not have a Costco Membership to start.

Senior Contributor

Re: Costco Amex

I forgot to mention that I have some baddies from my default student loans (dated back 2009- 24 neg TLs), but other than that my plate has been clean for the past 2 years (all CO TLs deleted), my scores started to climb in late May of this year.  My aaoa is 1.2yrs, currently at 1% UTL.  I'm just going to garden until my scores go up a bit and let my new accts age (Bofa Cash Rewards $1000,  TJX(GE) $200, Bloomingdales $300, Sonycard $1000) which were opened in June. I got turned down by Discover IT, too, but CSR told me to reapply in 30 days. 

JPM Ritz Carlton $8k I UMP Club $8k I CSP $8k | Chase Hyatt $5k I AMEX Green NPSL I AMEX Delta $2k I Citi AA $2k | C1 QS $4.5k
BOA UNC-CH Alumni $6k I Hawaiian WEMC $3k I Arrival $6.5k I IT $1.5k | Merrill+ $2k | Lowes $12k | Apple $2k | +23more
Scores: EQ:671 (FICO 11) EX:686 (FICO N/C) TU:686 (FICO N/C) *8-5-14*
Overall UTIL: 14% *Gardening Since: 1/20/16*
------------------------------------------------------------
Need to stay out of trouble.... Go Heels!!! ... GC Watchlist ( #1 since 12-12-13)
Valued Contributor

Re: Costco Amex

   Thanks for all the info. i am going to stay in the garden for now...