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Valued Member
Posts: 34
Registered: ‎02-17-2009
0

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?

Established Contributor
Posts: 515
Registered: ‎07-01-2008
0

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?

Valued Member
Posts: 34
Registered: ‎02-17-2009
0

Re: Want to get Costco AMEX TrueEarnings card

I joined in Jan and buy abt $200 a month avg
Frequent Contributor
Posts: 329
Registered: ‎10-20-2008
0

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.
Established Member
Posts: 18
Registered: ‎12-19-2008
0

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":smileyvery-happy:
Regular Contributor
Posts: 201
Registered: ‎11-26-2007
0

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

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).
Regular Contributor
Posts: 201
Registered: ‎11-26-2007
0

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

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.
Regular Contributor
Posts: 201
Registered: ‎11-26-2007
0

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. 

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