topic Re: Costco Visa underwriting in Credit Cards

Costco Visa underwriting

jacetx — Wed, 22 Jun 2016 15:01:29 GMT

Is it possible that Citi lowered the approval criteria for the Costco Visa? In the past couple months I was denied for the DC because of too many inquiries. On Monday I was approved for the Costco Visa for $8k. Citi pulled TU on which I have around 34 inquiries, so go figure.

Re: Costco Visa underwriting

gdale6 — Wed, 22 Jun 2016 16:19:20 GMT

The DC is one of their own cards and as such it most likely has higher underwriting standards than a co-branded card. Chase imposes a higher UW status on its own cards with 5/24 over co branded cards though as of late some co brands may have agreed to be included in the 5/24

Re: Costco Visa underwriting

creditguy — Wed, 22 Jun 2016 16:25:12 GMT

I'm sure there is different UW for Costco compared to DC but to what extent? Who knows. People with a lot less inquiries than you have been declined and that's with 700 plus scores, so who knows exactly what their standards are or what they are looking for. Regardless of what their looking for, you got it, congrats!!

Re: Costco Visa underwriting

Anonymous — Wed, 22 Jun 2016 17:15:35 GMT

Are you a long term Costco member? Regardless, Citi liked what they saw on your profile. Not gonna lie, I would love a SL of 8k for this card

Re: Costco Visa underwriting

Creditplz — Wed, 22 Jun 2016 17:29:07 GMT

DW was denied with 781 EX Fico 8, 9 inq in 6 months... :/

Re: Costco Visa underwriting

CreditCuriosity — Wed, 22 Jun 2016 17:39:45 GMT

Citi pulled TU for you on Costco card? Lucky duck!

Re: Costco Visa underwriting

jacetx — Wed, 22 Jun 2016 17:49:55 GMT

@CreditCuriousity wrote:
Citi pulled TU for you on Costco card? Lucky duck!

In my case it's a hit or miss with Citi. They either pull TU or EX but never both.

Re: Costco Visa underwriting

My2cents — Wed, 22 Jun 2016 17:50:56 GMT

Citi Bank Costco (CBNA) pulled Experian on me and I had 2 inquiries and was approved for 2K. My highest CL is 7K Barclays and my lowest is 2K Cap1.

I love the 4 3 2 1% setup. 4% Costco Gas 3%Resturant 2%Costco purchases and 1% everywhere else.

Re: Costco Visa underwriting

jacetx — Wed, 22 Jun 2016 17:59:44 GMT

@Anonymous wrote:
Are you a long term Costco member? Regardless, Citi liked what they saw on your profile. Not gonna lie, I would love a SL of 8k for this card

I joined Costco on Monday. I wish they would like it when applying for the DC

Re: Costco Visa underwriting

Anonymous — Wed, 22 Jun 2016 18:37:58 GMT

Congratulations again. This got to be the hottest ticket (card) right now. Sigh...the patiently waiting begin.

Re: Costco Visa underwriting

Anonymous — Thu, 23 Jun 2016 00:00:52 GMT

Congrats on your approval! Enjoy!

Re: Costco Visa underwriting

CountryLivin — Thu, 23 Jun 2016 00:05:20 GMT

Congratulations on your Costco approval!

Re: Costco Visa underwriting

Anonymous — Thu, 23 Jun 2016 00:23:13 GMT

I was approved for 5.5k limit SL with a 650 fico 8 score on ex. They pulled ex on me and I only have 1 INQ with utilization at 12%. I have a bk 7 showing from October 2010. Was very happy to be approved.

Re: Costco Visa underwriting

joedtx — Thu, 23 Jun 2016 22:15:28 GMT

Has anyone noticed a difference if they applied in store vs online?

Re: Costco Visa underwriting

Anonymous — Fri, 24 Jun 2016 03:15:06 GMT

Not sure what to do with this one. I burned Citi in 2009 for about 5k and they declined when I applied for DC last year citing the negative history with them. I do a lot of shopping at Costco and think i should have applied for Amex when I had the chance. Current ficos are in the 650-680 range. Don't want to waste another HP on Citi. Maybe I will wait till Nov when the charge off accounts fall off CR.

Re: Costco Visa underwriting

B335is — Fri, 24 Jun 2016 07:11:57 GMT

Seems to be a fairly high approval rate on this card. I'll be honest I've been kicking around joint Costco for awhile since closing my relationship with SAMs about a year ago....

Re: Costco Visa underwriting

kdm31091 — Fri, 24 Jun 2016 14:15:51 GMT

I tend to think cobranded cards often have looser underwriting, because the partner in question probably wants people to actually be approved for the card (assuming they are creditworthy enough to pay the bill on time). So inquiries may be less of a concern than with a flagship product.

Re: Costco Visa underwriting

buck_russell — Fri, 24 Jun 2016 16:36:00 GMT

@joedtx wrote:
Has anyone noticed a difference if they applied in store vs online?

applying online is the same as in store. When you apply "in store" the associate is litterally filling out the same app you would on-line.

Re: Costco Visa underwriting

Anonymous — Fri, 24 Jun 2016 18:56:56 GMT

I was declined. Fico8 Eq 688. 22 inqs. And I just received a cli on my citi dc. Crazy.

Re: Costco Visa underwriting

Anonymous — Sat, 25 Jun 2016 04:38:27 GMT

Declined also, waiting for my letter but I'll bet it's to many inquiries and accounts, which is true. Back to the garden for me to stay for 6 months or more.