Credit Cards Center Credit cards from our partners
Reply
Established Contributor
Posts: 736
Registered: ‎07-07-2010
0

The costco amex myth

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

__________________________
01/11/2011: FICO:TU: 746
12/14/2010: FICO:EQ: 744
08/12/2011: FICO:EXP: 766
Moderator Emerita
Posts: 28,095
Registered: ‎04-01-2007
0

Re: The costco amex myth

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.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Established Contributor
Posts: 736
Registered: ‎07-07-2010
0

Re: The costco amex myth

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.

__________________________
01/11/2011: FICO:TU: 746
12/14/2010: FICO:EQ: 744
08/12/2011: FICO:EXP: 766
Established Contributor
Posts: 562
Registered: ‎10-20-2008
0

Re: The costco amex myth

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.

Established Contributor
Posts: 736
Registered: ‎07-07-2010
0

Re: The costco amex myth

Ah gotcha well we will see tomarrow what her credit limit looks like.

__________________________
01/11/2011: FICO:TU: 746
12/14/2010: FICO:EQ: 744
08/12/2011: FICO:EXP: 766
Moderator Emeritus
Posts: 5,279
Registered: ‎03-18-2008
0

Re: The costco amex myth

 


gbishere 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.

 

Established Contributor
Posts: 790
Registered: ‎09-09-2008
0

Re: The costco amex myth

 


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.

 

Established Member
Posts: 51
Registered: ‎05-31-2010
0

Re: The costco amex myth

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).

Valued Contributor
Posts: 1,900
Registered: ‎01-05-2010
0

Re: The costco amex myth

 


gbishere 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.

 

Established Contributor
Posts: 736
Registered: ‎07-07-2010
0

Re: The costco amex myth

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. 

__________________________
01/11/2011: FICO:TU: 746
12/14/2010: FICO:EQ: 744
08/12/2011: FICO:EXP: 766

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

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.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

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.