topic Re: New ideas !!!!!!! in Credit Cards

New ideas !!!!!!!

Anonymous — Mon, 02 Nov 2015 21:07:11 GMT

Can you please help me with new idea or suguestion on what do next.

I have Costco AMEX and they are going to be sperated next year so all Costco members who carry the Costco AMEX card their cards will canceld and no one can use the AMEX CARD any more or any where so I think tthe AMEX want the members to apply for A new AMEX card.

I really don't want to apply for a new card, but I do want have AMEX credit card, and the keep sending me a new offers to apply for a new card, and telling me that you card will be canceld when the contract is up with Costco next year.

Can you please help me with new ideas on how to stay with the AMEX without having to apply again, and I really don't wnat to apply again. I have One Capital Credit card now and the Amex.

Thanks so much

Re: New ideas !!!!!!!

Anonymous — Mon, 02 Nov 2015 21:50:45 GMT

There is no way to stay with Amex without applying for another card.

Re: New ideas !!!!!!!

icyhot — Tue, 03 Nov 2015 01:14:58 GMT

Is it possible to PC to something else while you still have the card?

Re: New ideas !!!!!!!

Anonymous — Tue, 03 Nov 2015 01:15:29 GMT

yeah and that card doesn't PC to anything either. it's either app and stay with amex or let amex close you out.

Re: New ideas !!!!!!!

Anonymous — Tue, 03 Nov 2015 01:44:07 GMT

1) Sorry what do you mean by PC ?

2) Also is it better to let the Amex close the or do you think I should close it before they do because I do not my credit score get hit if they close it what do you think please ?

3) My final question how many cards can a person should have at least if you want get your score better and better ?

I have 2 credit cards now and home loan and one store card card .

Thanks again

Re: New ideas !!!!!!!

Anonymous — Tue, 03 Nov 2015 01:45:04 GMT

you have enough credit to optimize score overall as long as you don't carry balances and a PC means product change

Re: New ideas !!!!!!!

Anonymous — Tue, 03 Nov 2015 01:46:01 GMT

Amex made good money selling you to citi. Just app for a new amex card, if you need amex that badly.

Re: New ideas !!!!!!!

Anonymous — Tue, 03 Nov 2015 01:46:03 GMT

if you let amex close it then it'll report as "closed by lender" which could have some negative connotation tied to it so i would close it in february if you just flat out don't want a new card

Re: New ideas !!!!!!!

Anonymous — Tue, 03 Nov 2015 01:48:51 GMT

I have few closed by lender and it hasn't hurt me so far. Can you expand on why it's a negative connotation.

Re: New ideas !!!!!!!

Anonymous — Tue, 03 Nov 2015 01:50:32 GMT

it's not that it'll hurt you but if a credit decision needs manual underwriting (the credit union i work at is 85% manual underwriting so i see all types of reports) and sometimes they'll come back and ask me to ask the members why the creditor closed certain accounts if a credit profile is questionable or on the border.

Re: New ideas !!!!!!!

Anonymous — Tue, 03 Nov 2015 01:52:41 GMT

What you mean selling to Citi ?

I don't have Citi Bank if you reffering to a Citi Credit Crad.

How many so many is so many on credit cards that you should have do you have a number ?

Thanks

Re: New ideas !!!!!!!

SunriseEarth — Tue, 03 Nov 2015 01:54:53 GMT

@Anonymous wrote:
Can you please help me with new idea or suguestion on what do next.

I have Costco AMEX and they are going to be sperated next year so all Costco members who carry the Costco AMEX card their cards will canceld and no one can use the AMEX CARD any more or any where so I think tthe AMEX want the members to apply for A new AMEX card.
I really don't want to apply for a new card, but I do want have AMEX credit card, and the keep sending me a new offers to apply for a new card, and telling me that you card will be canceld when the contract is up with Costco next year.

Can you please help me with new ideas on how to stay with the AMEX without having to apply again, and I really don't wnat to apply again. I have One Capital Credit card now and the Amex.

Thanks so much

Usually, cobranded cards are difficult to PC. Unfortunately, unless AMEX for some reason retains the Costco TE portfolio, you will need to app for a new card if you want to stay with AMEX. I would call in or chat to see if you have any SP offers for another AMEX cards; some members have had success with this. This way, at least you won't get an HP on your credit. However, this would still be a new account with new history, as AMEX no longer backdates.

Re: New ideas !!!!!!!

Anonymous — Tue, 03 Nov 2015 01:55:13 GMT

it's not about how many you have it's about what makes sense for you. and citi bought the costco contract and bought amex's profile

Re: New ideas !!!!!!!

SunriseEarth — Tue, 03 Nov 2015 02:00:10 GMT

@Anonymous wrote:
1) Sorry what do you mean by PC ?

2) Also is it better to let the Amex close the or do you think I should close it before they do because I do not my credit score get hit if they close it what do you think please ?

3) My final question how many cards can a person should have at least if you want get your score better and better ?

I have 2 credit cards now and home loan and one store card card .

Thanks again

PC means "product change"...basically, you keep the history of your existing account, but are moved to a new product.

"Closed by lender" or "closed by consumer" are scored the same. However, since the portfolio is being acquired by Citibank, it would probably be obviously under manual review that the card was purchased by Citi (there is a note something like "closed; transferred to another lender").

As for how many cards, there is no single correct answer. Some suggest that having at least 3 cards is ideal, since you can have two with zero balances posting and one with a small balance posting. However, some people only want two cards. Others want two dozen.

Re: New ideas !!!!!!!

Anonymous — Tue, 03 Nov 2015 02:01:26 GMT

Oh, ok I didn't know that Citi bought the Costco contract so is Costco goin to start accepting Mstercard or Visa from Cti Bank, and mt be I can apply for Citi Crad unsted ?

Witch one will be better to carry the Amex or Citi ?

Re: New ideas !!!!!!!

Anonymous — Tue, 03 Nov 2015 02:02:25 GMT

costco will accept all visa not just citi visa

Re: New ideas !!!!!!!

Anonymous — Tue, 03 Nov 2015 02:07:09 GMT

It stupid most of my cards are Mastecards. That means I will have to apply for a new card .

By any chance you think Citi will just transfer all the Amex cards to their name and just issue a new Citi Cards to the members without applying for new cards?

Re: New ideas !!!!!!!

Anonymous — Tue, 03 Nov 2015 02:14:17 GMT

why are you so worried about apping for a card

Re: New ideas !!!!!!!

Anonymous — Tue, 03 Nov 2015 02:29:29 GMT

1) I am not worring about applying I just was thinking about my be buying a house next year if everything goes good that all. I hear not good to apply for new cards if you thinking about a new house what you thing ?

2) let me ask you this too can you please give me some ideas on witch Monitoring service to use to pull my credit report at least one time a month?

Thanks your so much you are helping a lot.

Re: New ideas !!!!!!!

Anonymous — Tue, 03 Nov 2015 02:31:49 GMT

Then wait until your clear to close and then go app crazy. Your amex will convert to citi visa automatically.