topic Re: Costco AMEX - "Application Reserved for" in Credit Card Approvals

Costco AMEX - "Application Reserved for"

themanwhosoldtheworld — Thu, 08 May 2014 20:34:35 GMT

So I received a letter from Costco today containing an application for the Costco AMEX card. On one of the pages it says "Application Reserved For" and at the bottom of another page it says "We invite you to apply today". I would assume that this is not a pre-approval being it doesn't state it is but my wife has not received a letter and we joined on the same day. I did try the online AMEX pre-approval site and only was offered the Green card.

Current EX FICO: 724

Util: 23%

Inq: 4 in the last year

CBNA Sept 13

Chase Sept 13

FNBO July 13

FNBO June 13

I do not really "Need" this card but I am looking to round out my profile with an AMEX product. I suppose I could wait until this fall until all the INQ's are dropped off but being I received a letter I didn't know if I should apply now or not.

Should I apply?

How many points would my score go up approximately after the INQ's are gone?

Re: Costco AMEX - "Application Reserved for"

Anonymous — Thu, 08 May 2014 20:43:04 GMT

@themanwhosoldtheworld wrote:
So I received a letter from Costco today containing an application for the Costco AMEX card. On one of the pages it says "Application Reserved For" and at the bottom of another page it says "We invite you to apply today". I would assume that this is not a pre-approval being it doesn't state it is but my wife has not received a letter and we joined on the same day. I did try the online AMEX pre-approval site and only was offered the Green card.

Current EX FICO: 724
Util: 23%
Inq: 4 in the last year
CBNA Sept 13
Chase Sept 13
FNBO July 13
FNBO June 13

I do not really "Need" this card but I am looking to round out my profile with an AMEX product. I suppose I could wait until this fall until all the INQ's are dropped off but being I received a letter I didn't know if I should apply now or not.

Should I apply?

How many points would my score go up approximately after the INQ's are gone?

I was approved for this card 2 weeks ago with my score and utilization simiar to yours. It was an instant approval. I am already a Costco member, so I don't know if that played a part in the approval.

Re: Costco AMEX - "Application Reserved for"

Creditaddict — Thu, 08 May 2014 20:47:31 GMT

I'd apply in store and it's instant and give you shopping pass

Re: Costco AMEX - "Application Reserved for"

themanwhosoldtheworld — Thu, 08 May 2014 20:48:02 GMT

Thanks for the info! Did you receive a letter in the mail or did you cold apply?

Re: Costco AMEX - "Application Reserved for"

Creditaddict — Thu, 08 May 2014 20:53:24 GMT

@themanwhosoldtheworld wrote:
Thanks for the info! Did you receive a letter in the mail or did you cold apply?

I've never heard of the letters before

Re: Costco AMEX - "Application Reserved for"

Anonymous — Thu, 08 May 2014 21:49:38 GMT

@themanwhosoldtheworld wrote:
Thanks for the info! Did you receive a letter in the mail or did you cold apply?

I applied online. I checked pre-qualifier and didn't have an offer either. I would go for it. Just make sure you add your membership # to application.

Re: Costco AMEX - "Application Reserved for"

themanwhosoldtheworld — Thu, 08 May 2014 22:38:43 GMT

Applied online because I am anti-social. APPROVED!! It didn't tell me what my limit was or anything but said the card would be here in 7 business days! I tried to set up my online account access to see what the limit is but when I try to login it asks for my card number. I can wait for the card, just glad I was approved!

Re: Costco AMEX - "Application Reserved for"

Anonymous — Thu, 08 May 2014 23:00:23 GMT

@themanwhosoldtheworld wrote:
Applied online because I am anti-social. APPROVED!! It didn't tell me what my limit was or anything but said the card would be here in 7 business days! I tried to set up my online account access to see what the limit is but when I try to login it asks for my card number. I can wait for the card, just glad I was approved!

Congrats!!! You can call later to find out what your limit is. Welcome to the AmEx family!

Re: Costco AMEX - "Application Reserved for"

CarnegieS — Thu, 08 May 2014 23:35:31 GMT

@themanwhosoldtheworld wrote:
Applied online because I am anti-social. APPROVED!! It didn't tell me what my limit was or anything but said the card would be here in 7 business days! I tried to set up my online account access to see what the limit is but when I try to login it asks for my card number. I can wait for the card, just glad I was approved!

Congrats on the approval! Enjoy the card.

If you want to find out your credit limit call 800-824-7044 It's an automated line.

Re: Costco AMEX - "Application Reserved for"

ways2go — Thu, 08 May 2014 23:44:31 GMT

congrats

Re: Costco AMEX - "Application Reserved for"

themanwhosoldtheworld — Fri, 09 May 2014 00:08:14 GMT

@CarnegieS wrote:
@themanwhosoldtheworld wrote:
Applied online because I am anti-social. APPROVED!! It didn't tell me what my limit was or anything but said the card would be here in 7 business days! I tried to set up my online account access to see what the limit is but when I try to login it asks for my card number. I can wait for the card, just glad I was approved!
Congrats on the approval! Enjoy the card.

If you want to find out your credit limit call 800-824-7044 It's an automated line.

Thanks

Tried that number and it brings me to Sallie Mae.

Is it true, now that I have this card, that any AMEX cards I apply for in the future would be a SP?

Re: Costco AMEX - "Application Reserved for"

CarnegieS — Fri, 09 May 2014 00:18:50 GMT

@themanwhosoldtheworld wrote:
@CarnegieS wrote:
@themanwhosoldtheworld wrote:
Applied online because I am anti-social. APPROVED!! It didn't tell me what my limit was or anything but said the card would be here in 7 business days! I tried to set up my online account access to see what the limit is but when I try to login it asks for my card number. I can wait for the card, just glad I was approved!
Congrats on the approval! Enjoy the card.

If you want to find out your credit limit call 800-824-7044 It's an automated line.
Thanks

Tried that number and it brings me to Sallie Mae.

Is it true, now that I have this card, that any AMEX cards I apply for in the future would be a SP?

Really sorry about that I got that number from the top of my recent calls. 866-314-0237 is actually the correct number (I checked this time); again I apologize for the incorrect info! Amex cards you apply for that result denial would be SP, but if they accept you it will be a HP. So the good news is even if you aren't approved no harm is done to your credit score. Also remember that with amex all CLI request will be SP, and look into getting a 3x increase after 61 days.

Re: Costco AMEX - "Application Reserved for"

themanwhosoldtheworld — Fri, 09 May 2014 00:37:09 GMT

@CarnegieS wrote:
@themanwhosoldtheworld wrote:
@CarnegieS wrote:
@themanwhosoldtheworld wrote:
Applied online because I am anti-social. APPROVED!! It didn't tell me what my limit was or anything but said the card would be here in 7 business days! I tried to set up my online account access to see what the limit is but when I try to login it asks for my card number. I can wait for the card, just glad I was approved!
Congrats on the approval! Enjoy the card.

If you want to find out your credit limit call 800-824-7044 It's an automated line.
Thanks

Tried that number and it brings me to Sallie Mae.

Is it true, now that I have this card, that any AMEX cards I apply for in the future would be a SP?

Really sorry about that I got that number from the top of my recent calls. 866-314-0237 is actually the correct number (I checked this time); again I apologize for the incorrect info! Amex cards you apply for that result denial would be SP, but if they accept you it will be a HP. So the good news is even if you aren't approved no harm is done to your credit score. Also remember that with amex all CLI request will be SP, and look into getting a 3x increase after 61 days.

I talk to "Sallie" pretty often myself!

I called and it's $9,400! This is the day after I received a SP CLI from Discover which was $2,300 - $8,700! So in the last 24 hours my available credit has increased by $15,800! 44% increase overall! My highest CL before last night was $5,500.

I guess I will now be checking my Barclaycard every day to see if they drop me.

Re: Costco AMEX - "Application Reserved for"

gdale6 — Fri, 09 May 2014 01:34:49 GMT

Nice start limit, grats on your new AMEX

Re: Costco AMEX - "Application Reserved for"

MsLadyRover — Fri, 09 May 2014 02:00:09 GMT

Congrats OP! Great limit!

Re: Costco AMEX - "Application Reserved for"

CreditHealthy — Fri, 09 May 2014 02:04:27 GMT

Congrats!

Re: Costco AMEX - "Application Reserved for"

Anonymous — Fri, 09 May 2014 02:20:55 GMT

Congrats!

Re: Costco AMEX - "Application Reserved for"

DarkMoonLily — Fri, 09 May 2014 06:11:41 GMT

congrats!!

Re: Costco AMEX - "Application Reserved for"

alvon123 — Fri, 09 May 2014 10:26:47 GMT

congrats

Re: Costco AMEX - "Application Reserved for"

themanwhosoldtheworld — Sat, 10 May 2014 03:27:55 GMT

Thanks everyone! Can't wait to get the physical card!