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What to do about Costco card

What to do about Costco card

So my costco card was my first (and only) Amex. I got it almost exactly a year ago when i started a costco membership. I no longer want to keep my costco membership. This causes a huge problem for me! If I dont renew, I loose my amex account. I love the amex benefits, enhanced rental car protection is awesome and totally worth it. I also will loose the $30 or so cash back I have racked up in the last few months. I have tried several times, but it seems that there is no possible way of product changing this to ANY other amex card, period? Seriously? Is there no hope for me? I just did a small-ish app spree, so I REALLY dont want a new application to get a new amex card... should I just renew costco and after the next cash back round, cancel the card, my membership, and do a new application?

Seedling Garden Club Member - Last App: 07/27/2013 - No apps until 2014

Aoccdrnig to a rscheeachr at Cmabrigde Uinervtisy, it deosn't mttaer in waht oredr the ltteers in a wrod are, the olny iprmoetnt tihng is taht the frist and lsat ltteer be at the rghit pclae. The rset can be a total mses and you can sitll raed it wouthit porbelm. Tihs is bcuseae the huamn mnid deos not raed ervey lteter by istlef, but the wrod as a wlohe.
Message 1 of 21
20 REPLIES
Frequent Contributor

Re: What to do about Costco card

From what I understand about AMEX, if you are already a cardholder and apply for additional cards, the inquiry will be soft thus not affecting your credit. You could simply apply for a different AMEX product with no annual fee. This way you can still retain all the benefits you love so much!
Message 2 of 21
Valued Contributor

Re: What to do about Costco card


WhiteCollar wrote:
From what I understand about AMEX, if you are already a cardholder and apply for additional cards, the inquiry will be soft thus not affecting your credit. You could simply apply for a different AMEX product with no annual fee. This way you can still retain all the benefits you love so much!

Unfortunately, this is only half true.

 

If you are denied an AMEX card but already an AMEX cardholder, it will only be a soft pull.

 

If approved, it will be a hard pull, AMEX member or not.


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Message 3 of 21

Re: What to do about Costco card


WhiteCollar wrote:
From what I understand about AMEX, if you are already a cardholder and apply for additional cards, the inquiry will be soft thus not affecting your credit. You could simply apply for a different AMEX product with no annual fee. This way you can still retain all the benefits you love so much!
Pretty sure thats not true. CLIs are soft, but new accounts are always hard.

Seedling Garden Club Member - Last App: 07/27/2013 - No apps until 2014

Aoccdrnig to a rscheeachr at Cmabrigde Uinervtisy, it deosn't mttaer in waht oredr the ltteers in a wrod are, the olny iprmoetnt tihng is taht the frist and lsat ltteer be at the rghit pclae. The rset can be a total mses and you can sitll raed it wouthit porbelm. Tihs is bcuseae the huamn mnid deos not raed ervey lteter by istlef, but the wrod as a wlohe.
Message 4 of 21

Re: What to do about Costco card

I just looked at the backdoor numbers list again... Is the account services number worth a shot? I technically am an account with an issue... Is'nt impending doom an issue? Smiley Happy

Seedling Garden Club Member - Last App: 07/27/2013 - No apps until 2014

Aoccdrnig to a rscheeachr at Cmabrigde Uinervtisy, it deosn't mttaer in waht oredr the ltteers in a wrod are, the olny iprmoetnt tihng is taht the frist and lsat ltteer be at the rghit pclae. The rset can be a total mses and you can sitll raed it wouthit porbelm. Tihs is bcuseae the huamn mnid deos not raed ervey lteter by istlef, but the wrod as a wlohe.
Message 5 of 21
Contributor

Re: What to do about Costco card


JohnWillyson wrote:

WhiteCollar wrote:
From what I understand about AMEX, if you are already a cardholder and apply for additional cards, the inquiry will be soft thus not affecting your credit. You could simply apply for a different AMEX product with no annual fee. This way you can still retain all the benefits you love so much!
Pretty sure thats not true. CLIs are soft, but new accounts are always hard.

That is correct for current cardmembers, if the application is approved it will be a hardpull, if it's denied it will be a soft. It's pretty well documented around the forum, do some searching.

Message 6 of 21
Valued Contributor

Re: What to do about Costco card

+1 bman


GARDEN GOAL: MARCH 2014
LAST APP: 08/20/2013
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Message 7 of 21
Contributor

Re: What to do about Costco card


JohnWillyson wrote:
I just looked at the backdoor numbers list again... Is the account services number worth a shot? I technically am an account with an issue... Is'nt impending doom an issue? Smiley Happy

I would give them a call and ask if you can PC over to another card such as the BCP/BCE.

Message 8 of 21
Super Contributor

Re: What to do about Costco card


JohnWillyson wrote:
So my costco card was my first (and only) Amex. I got it almost exactly a year ago when i started a costco membership. I no longer want to keep my costco membership. This causes a huge problem for me! If I dont renew, I loose my amex account. I love the amex benefits, enhanced rental car protection is awesome and totally worth it. I also will loose the $30 or so cash back I have racked up in the last few months. I have tried several times, but it seems that there is no possible way of product changing this to ANY other amex card, period? Seriously? Is there no hope for me? I just did a small-ish app spree, so I REALLY dont want a new application to get a new amex card... should I just renew costco and after the next cash back round, cancel the card, my membership, and do a new application?

Question do you still plan to shop at Costco? 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 9 of 21

Re: What to do about Costco card


myjourney wrote:

Question do you still plan to shop at Costco? 


Nope! I tried the backdoor number but its for collections only now apparently. Wouldnt let me talk to anyone since I am in good standing. Smiley Sad Whats sad is on the phone everyone says I *CANT* PC, but secure messaging says after a year I can. The problem is it will EXPIRE before the year ends Smiley Sad I guess in the long run paying $55, and waiting till I get my reward check for the cashback can offset it... bah.

Seedling Garden Club Member - Last App: 07/27/2013 - No apps until 2014

Aoccdrnig to a rscheeachr at Cmabrigde Uinervtisy, it deosn't mttaer in waht oredr the ltteers in a wrod are, the olny iprmoetnt tihng is taht the frist and lsat ltteer be at the rghit pclae. The rset can be a total mses and you can sitll raed it wouthit porbelm. Tihs is bcuseae the huamn mnid deos not raed ervey lteter by istlef, but the wrod as a wlohe.
Message 10 of 21