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Frequent Contributor
joestay
Posts: 374
Registered: ‎01-08-2010
0

Re: The costco amex myth

Congratz.  I too was excited when I got approved for Amex.  Then I got even more excited when I found out it was a 2k limit since my only other card had a limit of $750.

Valued Contributor
my-own-fico
Posts: 1,302
Registered: ‎01-05-2010
0

Re: The costco amex myth

 


gbishere wrote:

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. 


 

I can believe that. Congratulations. There's something about those kinds of moments.

 

DW likes hers as well. By now, mostly because it's hers alone and she charges her lunches on it. She got the card because a good friend of hers gave her a tour of a Costco store a couple of years earlier and we came to like the place.

 

Which is a return to the topic of whether it matters if you have shopped there for a while before applying for the card. We got that impression. Still, DW got the lowest CL that any of the two of us had ever gotten. But that, I realized later, was due to two things. The first was that the financial climate was very conservative at the time. And secondly that she had gotten a card just four months earlier, at a time when we had also picked up a mortgage refinance.

 

The Amex customer service lady very kindly told us DW could ask for a CLI two months later. Later it dawned on me that 4 months + 2 months = 6 months, as in halfway through the one year inquiry window. We never did ask for a CLI, isn't crucial to us. It popped up on the web interface five months into the life of the card. I zeroed the card soon after for unrelated reasons, and the CLI offer vanished. There might have been a connection, I don't know. It doesn't matter. DW loves that card.

 

Recently we both got approved for a Discover More card, with higher CLs. She understands the quarterly goodness of them, but there's no comparison. It's like every day she pays for her lunches with that Costco Amex like it's cash. It's a non-issue, just the way it is. You chatter across the counter and have a good day.

 

Are you living within your means?

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