Reply
Established Member
Posts: 23
Registered: ‎04-13-2009
0

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
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
Posts: 455
Registered: ‎06-08-2008
0

Re: Costco True Earnings card & "authorized users"

Hi

 

What is a 4506-T again?

 

Thanks

 

Regular Contributor
Posts: 128
Registered: ‎12-21-2008
0

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. 

Starting Score: 527
Current Score: 679
Goal Score: 800


Take the myFICO Fitness Challenge
Epic Contributor
Posts: 24,293
Registered: ‎10-23-2007
0

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
Fico Scores: EQ- 670., TU 705 Sync, EX 700 (04/20/15)
I'm just trying to catch up to RON1
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
83 Cards and Counting :smileytongue:
Established Member
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
Posts: 24,293
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- 670., TU 705 Sync, EX 700 (04/20/15)
I'm just trying to catch up to RON1
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
83 Cards and Counting :smileytongue:
Established Contributor
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. 

 

TU 810: EQ 813: EX 814 (9/16/09--Loan officer pull)

Helpful Threads
Frequently Requested Threads
Understanding your Fico Score
Valued Contributor
Posts: 2,682
Registered: ‎07-29-2009
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.


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
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.

AMEX Blue Cash - $15k, Lowes/GECRB - $10K, PNC - $10K, CIti Diamond Preferred - $10K, Home Depot/Citi - $7590, Best Buy Store/HSBC - $7400, Citi Platinum Select - $7150, Best Buy RZMC/HSBC - $5750, Dillards/GECRB - $4350, Discover More - $3600, Cap 1 Cash Rewards - $3000, Amex HHonors - $2000, State Farm - $2000, Cap 1 MTV - $1500
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.