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My girlfriend applied online for the costco american express. She had been a member of costco for maybe a month. She bought 20 dollars worth of gas and food items totalling 15 dollars.
She had credit scores of 720, 680 ish. One other open credit line for 2 years.
She was approved. I will update you guys tomorrow on her credit limit. Her sister has had the same card now for over a year. Do they look at siblings? Because they use same address everything. This would be interesting to know because I live with my brother and he has the card.
Cheers
Which myth? I'm confused.
No, they don't look at siblings, unless your credit reports have gotten messed up.
Anyway, congrats to your GF.
Almost every costco card thread I have read mentioned the fact that costco looks at your spending history within the store. I have seen numerous people say that they will wait a year or so to build up a lot of spending history there. Since costco and amex both have to approve you.
So if she only bought two different items and was barely a member for a month then it might not be such a factor as people think.
It's not a factor in approval, it's a factor in credit limit, not the only thing, but if you spend a lot you tend to get a higher initial credit limit.
Ah gotcha well we will see tomarrow what her credit limit looks like.
@Anonymous wrote:
Almost every costco card thread I have read mentioned the fact that costco looks at your spending history within the store. I have seen numerous people say that they will wait a year or so to build up a lot of spending history there. Since costco and amex both have to approve you.
So if she only bought two different items and was barely a member for a month then it might not be such a factor as people think.
I haven't heard that one, and it certainly didn't apply to us. We applied for our Costco Amex on the same day that we joined Costco. We were approved - don't remember whether it was instant or not, but it wasn't based on any spending history.
@Lel wrote:
I haven't heard that one, and it certainly didn't apply to us. We applied for our Costco Amex on the same day that we joined Costco. We were approved - don't remember whether it was instant or not, but it wasn't based on any spending history.
Same here. I applied for the card after I had bought something there for the first time.
I will third this - I got my business TrueEarnings card with a $3K credit limit with very limited business credit history and no history of Costco membership (joined the same day I got approved for the TrueEarnings card).
@Anonymous wrote:My girlfriend applied online for the costco american express. She had been a member of costco for maybe a month. She bought 20 dollars worth of gas and food items totalling 15 dollars.
She had credit scores of 720, 680 ish. One other open credit line for 2 years.
She was approved. I will update you guys tomorrow on her credit limit. Her sister has had the same card now for over a year. Do they look at siblings? Because they use same address everything. This would be interesting to know because I live with my brother and he has the card.
Cheers
Hope it went alright. Looking forward to your update.
She got 2000 dollars. Her BoA card is only 1200 so she is happy with 2k. Heck, she was jumping for joy just being approved for an Amex, lol.