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Want to get Costco AMEX TrueEarnings card

Valued Member

Re: Want to get Costco AMEX TrueEarnings card

I want to apply for this card, and I just purchased a new car and in the process of loan shopping i have 6 enquiries on EX and TU and 4 or EQ (most of them done by dealer, some lenders enquired all 3 :-( ).

My scores are EX-721, TU-717 EQ-678 and I have brought my util to less than 10% now.

 

Is it ok if I apply for this card now or shall I wait for 6 months(will it help to wait)?

Also, my new auto loan is going to show up next month? Will my scores take a hit?

Message 11 of 36
Established Contributor

Re: Want to get Costco AMEX TrueEarnings card

Jay,

 

Personally I think your scores are good enough now but waiting couldn't hurt.  What is your purchase history with Costco like?  Do you buy often and how much?

Message 12 of 36
Valued Member

Re: Want to get Costco AMEX TrueEarnings card

I joined in Jan and buy abt $200 a month avg
Message 13 of 36
Established Contributor

Re: Want to get Costco AMEX TrueEarnings card

Does the AMEX Costco card backdate like regular AMEX cards to your earliest AMEX member date?  I am thinking about getting one, but not if it shows up on my report like a new account.
Message 14 of 36
Established Member

Re: Want to get Costco AMEX TrueEarnings card

yes. I got the AMEX Costco card last December and on the card it said "Member Since 88"Smiley Very Happy
Message 15 of 36
Regular Contributor

Re: Want to get Costco AMEX TrueEarnings card

Sorry to bring up an old thread but how long does the normal approval process takes?  I applied online and it said that if I'm approved I should receive the card in 14 days.  I called CSR this morning and they couldn't find a record of my account.  She said that it could take up to 3 days to verify my Costco membership and for it to update on their computer (AMEX's computer).  Does it really take 14 days to approve? 
Message 16 of 36
Established Contributor

Re: Want to get Costco AMEX TrueEarnings card

No, it is as you wrote: Approval may take two to three days, whereas sending the card to your home may take up to two weeks (for me it's mostly a bit more than a week from approval).
Message 17 of 36
Regular Contributor

Re: Want to get Costco AMEX TrueEarnings card

Thanks Ulan, you were exactly right!  I applied on Monday and was approved today for only $2000 (is that normal?  seems a little low to me).  The card will arrive in 7 to 10 business days.  Now I can retire my Blue Cash card.
Message 18 of 36
Established Contributor

Re: Want to get Costco AMEX TrueEarnings card

I'm not sure whether it's any consolation, but I got the same limit. And still have it 7 months later.
Message 19 of 36
Regular Contributor

Re: Want to get Costco AMEX TrueEarnings card

Do you know what your scores were when you applied for the card?  I have absolutely no clue what current score from Experian.  I know I have a 30 day late from 2004 on that report (my only baddie).  My UTIL is about 8% but I have a high UTIL on one card that has the 0% rate.  I'm just trying to get an idea of what my EXP score is roughly. 

 

BTW, I guess I feel better about the $2000CL.  It looks like a good card, especially since I dine out a lot. 

Message 20 of 36