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Established Member
jrdenver
Posts: 23
Registered: ‎04-13-2009
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Costco True Earnings card & "authorized users"

[ Edited ]

Wife and I just signed up with Costco.  She wanted the american express because of the cash back (and the fact that she doesn't have an Amex).  She has excellent credit.

 

She put me down for the additional card.  (I hit a bump in the road, and have a BK 5 years ago as a result).

 

a)  Do they pull my credit as well (it DID require my SSN), or just hers?

 

b)  Is this an "authorized user," or a "Joint account?"

 

I would hate to see her card declined because of my "bump in the road."

Message Edited by jrdenver on 12-10-2009 03:36 PM
Message Edited by jrdenver on 12-10-2009 03:36 PM

TransUnion 696 4/15/2010
Equifax 683 4/15/2010

TransUnion 675 8/30/2010
Equifax 688 8/30/2010

Still trying to get my scores up =\ Opening new trades in the last 12 months didn't help. =(
New Member
FICOupper
Posts: 14
Registered: ‎11-24-2009
0

Re: Costco True Earnings card & "authorized users"

authorized....i was an AU on one.....they never pulled my credit but they pulled A LOT of soft inquiries....then they requested the 4506-T FORM and we closed the account...be careful how you treat the card for the first few months.
Frequent Contributor
Scuba
Posts: 455
Registered: ‎06-08-2008
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Re: Costco True Earnings card & "authorized users"

Hi

 

What is a 4506-T again?

 

Thanks

 

Regular Contributor
QueenBean
Posts: 128
Registered: ‎12-21-2008
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Re: Costco True Earnings card & "authorized users"

Hmm.  I don't think they pull your credit - but they will report on you, that's the reason for your SSN. 

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Creditaddict
Posts: 22,087
Registered: ‎10-23-2007
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Re: Costco True Earnings card & "authorized users"

Amex uses AU social to check Amex system to make sure you have never did them wrong, if you clear the Amex system then you will get a card and it will report to your credit as AU
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Established Member
jrdenver
Posts: 23
Registered: ‎04-13-2009
0

Re: Costco True Earnings card & "authorized users"

Thanks!

 

We both got cards.  The limit is about 20% of her highest CC, and is less than we spend monthly.  Is it even possible to ask for recon on the limit, or do we need to wait 6mo first?  With the rewards, we were considering making this our primary card, but we don't want to exceed 30% of the limit, so we can't reasonably do that (without paying weekly) with this limit.


TransUnion 696 4/15/2010
Equifax 683 4/15/2010

TransUnion 675 8/30/2010
Equifax 688 8/30/2010

Still trying to get my scores up =\ Opening new trades in the last 12 months didn't help. =(
Epic Contributor
Creditaddict
Posts: 22,087
Registered: ‎10-23-2007
0

Re: Costco True Earnings card & "authorized users"

I don't know, never hurts to ask I guess, but the good news is, if you use it for 6 months and PIF and they start liking you, you can ask for 3x current CL CLI. so it can grow very fast
Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Established Contributor
cobaltnv
Posts: 640
Registered: ‎09-02-2008
0

Re: Costco True Earnings card & "authorized users"


jrdenver wrote:

Thanks!

 

We both got cards.  The limit is about 20% of her highest CC, and is less than we spend monthly.  Is it even possible to ask for recon on the limit, or do we need to wait 6mo first?  With the rewards, we were considering making this our primary card, but we don't want to exceed 30% of the limit, so we can't reasonably do that (without paying weekly) with this limit.


I would use it as you want and pay the card as often as needed to keep the utilization below 50% or so. After a couple months of this you can call up and say that you would like this to be your main card but the limit is too low. You might ask if they could match your highest limit card. 

 

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Jazzzy
Posts: 2,679
Registered: ‎07-29-2009
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Re: Costco True Earnings card & "authorized users"


jrdenver wrote:

Thanks!

 

We both got cards.  The limit is about 20% of her highest CC, and is less than we spend monthly.  Is it even possible to ask for recon on the limit, or do we need to wait 6mo first?  With the rewards, we were considering making this our primary card, but we don't want to exceed 30% of the limit, so we can't reasonably do that (without paying weekly) with this limit.


Our first AmEx is the Delta SkyMiles. AmEx started us off with only $2k. We used it. Paid it off. Did it again...a few times each month. You don't need to worry about holding your usage to 30% of the limit if you are going to pay it before the statement cuts. Only worry about a limit of what actually shows on the statement.

 

We didn't wait 6 mos to ask for a CLI. We waited 4 mos, and then they gave us a 3x CLI to $6k. We're glad we had the patience in the beginning to make it work. You can make it work with just a bit of inconvenience in the beginning.

Frequent Contributor
rbh
Posts: 356
Registered: ‎06-25-2009
0

Re: Costco True Earnings card & "authorized users"


Scuba wrote:

Hi

 

What is a 4506-T again?

 

Thanks

 


That's the tax return transcript request form. They use it to look at salaries and such.

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