topic Costco Anywhere starting limits or Reward Cards with high starting limit in Credit Cards

Costco Anywhere starting limits or Reward Cards with high starting limit

FICOlearner123 — Tue, 02 Feb 2021 04:24:09 GMT

I am looking to apply for Costco Anywhere and wanted to get an idea from the group on whats their experience in terms of starting limit and approval for the card.

Re: Costco Anywhere starting limits

Gunnerboy — Mon, 01 Feb 2021 19:32:30 GMT

Mine was 9,000. After three SP CLI's, I'm at 16,500.

Re: Costco Anywhere starting limits

BetterMoves — Mon, 01 Feb 2021 19:45:01 GMT

Even though VISA Signature cards generally start at $5,000, my starting limit was $4,000 last year, and that was fine with me.

Reward Cards with high starting limit

FICOlearner123 — Tue, 02 Feb 2021 04:04:51 GMT

Are there any reward cards that offer high starting limits?

Am trying to minimize negative impact to my score and hoping a card with high limit might offset it by increasing my overall credit line.

Are there any no fee cards that offer 5% under groceries, gas, online purchase, dining spend?

Also any cards that give 2+% rewards under general category spend such as car insurance, home insurance, utilities bill?

Re: Reward Cards with high starting limit

coldfusion — Tue, 02 Feb 2021 03:31:02 GMT

A rational answer depends in part upon what you mean by a high starting limit and also what you are thinking of as a mininum threshold for a rewards card.

Re: Reward Cards with high starting limit

Credit4Growth — Tue, 02 Feb 2021 03:47:53 GMT

@coldfusion wrote:
A rational answer depends in part upon what you mean by a high starting limit and also what you are thinking of as a mininum threshold for a rewards card.

@FICOlearner123

^ Yes! because you currently show rewards cards in your signature and they already appear to have decent/huge limits, going by many different standard. Additionally you also asked this question this morning but more focused.

https://ficoforums.myfico.com/t5/Credit-Card-Applications/Costco-Anywhere-starting-limits/m-p/6245360

More detail and intention of your outcome is needed to assist in pointing you to where you wish to go

Re: Reward Cards with high starting limit

FICOlearner123 — Tue, 02 Feb 2021 04:06:10 GMT

@Credit4Growth @coldfusion thanks have updated additional details to my post.

Re: Reward Cards with high starting limit

Credit4Growth — Tue, 02 Feb 2021 06:31:51 GMT

@FICOlearner123 Sorry for the long delay, I had a few things brought to my attention.

Thanks for adding additional info in which I am taking a different view of and I do believe the two threads were combined.

I am quoting your post and adding commentary. Are you looking for a unicorn as a hypothetical question?

I think you are looking for a card that encompasses most of your areas of spend and or just a few specialty cards with high % cashback/rewards.

If I understand correctly what it is you are looking for then I can only share what I intended to do.

I wanted the:

Ritz Carlton for vanity an hotel stays, lol;

USBank AR 3% online transactions,

NavyFed Flagship 3% catch all in travel, also has 2% for everything else, plus a lower apr;

Freedom for rotating 5% categories, because I did not want the USBank Cash+,

Discover for rotating 5% categories and frequent BT offers;

A low % rate card from a separate credit union for unexpected emergencies

I am settling for some middle ground, 5%'s and 3%' CCs

Any and everything else that could follow in m credit journey would have been fro a SUB or to augment my rewards in some way.

@FICOlearner123 wrote:
Are there any reward cards that offer high starting limits?
Yes of course. To help categories a search that may help you find what you are looking for here are 2 types of examples. 1. A credit union's rewards card 2. A Large FI non-core card; such as a co-branded card (unlike your Freedom) as in an industry specific card. In the Past I have seen BOA co-branded cards

Am trying to minimize negative impact to my score and hoping a card with high limit might offset it by increasing my overall credit line. - I do not believe in your instance that increasing yours or anyone TCL will help much if you balances/utility is low... You are displaying over $90K +. You a good amount of available credit.

Are there any no fee cards that offer 5% under groceries, gas, online purchase, dining spend?
- Yes, Ducks Unlimited if not yet nerfed, Marvel CC may be one... and rare credit union finds, at least rare to me. PNC has a 4%, 3%, 2%, 1% type of card.

Also any cards that give 2+% rewards under general category spend such as car insurance, home insurance, utilities bill?
- These are a dime a dozen these days... to find one or two that also can cover one or a few of the 5% categories you desire is a bit trickier when combined with meeting criteria to qualify for eligibility for the card. But the Cash+ card mentioned earlier is one of them.

I hope this guides you in the right direction or at least helps you to better define what you are looking for and trying to achieve so that more senior and experienced members can share their wisdom and gems that they have found useful!

Edited to add PNC CC

Re: Reward Cards with high starting limit

wasCB14 — Tue, 02 Feb 2021 17:32:50 GMT

I went for an AA Platinum card in 2016 for a 50k mile SUB. Then 368 days later I PCed the card to Costco.

@BetterMoves wrote:
Even though VISA Signature cards generally start at $5,000, my starting limit was $4,000 last year, and that was fine with me.

My CL was $4,600 at the time of the PC (having never asked for a CLI on what I thought would be pure SUB chasing). The Costco card was Visa Platinum (but the good benefits came from Citi, not Visa, so nbd). When the card expired in 2020, the replacement card was Signature (I had picked up a few CLIs).

Re: Reward Cards with high starting limit

Credit4Growth — Tue, 02 Feb 2021 17:44:09 GMT

@wasCB14 wrote:
I went for an AA Platinum card in 2016 for a 50k mile SUB. Then 368 days later I PCed the card to Costco.

@BetterMoves wrote:
Even though VISA Signature cards generally start at $5,000, my starting limit was $4,000 last year, and that was fine with me.
My CL was $4,600 at the time of the PC (having never asked for a CLI on what I thought would be pure SUB chasing). The Costco card was Visa Platinum (but the good benefits came from Citi, not Visa, so nbd). When the card expired in 2020, the replacement card was Signature (I had picked up a few CLIs).

Nice conversion, you have pointed out path to me which I forgot about. - Thank you for that!

I have been considering shopping at Costco if and only if we decide move this year or next year. That would make a run to the club bearable as it is currently located further away from the home then we care to drive regularly.

Re: Costco Anywhere starting limits or Reward Cards with high starting limit

Credit4Growth — Wed, 03 Feb 2021 02:47:54 GMT

@FICOlearner123

What would be an ideal limit range for you?

Re: Costco Anywhere starting limits or Reward Cards with high starting limit

staticvoidmain — Tue, 02 Feb 2021 23:55:27 GMT

Starting limit aside, I would like to reiterate what others pointed out: It has online SP CLI. If your profile supports it, you can grow your limit without needing an HP.

My Costco Visa is one of my cards that has more credit than I currently need. I wish I could say the same for Amazon Visa. or the recently CLD'd Capital One.

Re: Costco Anywhere starting limits or Reward Cards with high starting limit

FICOlearner123 — Wed, 03 Feb 2021 17:33:04 GMT

@Credit4Growth 20K+ SL would be great. Thanks for your pointers, any idea if Cash + gives 5% for Geico insruance, does it classify it as utility category. While on car insurance I need to vent this out, I am currently paying premiums of 1K+ for 2 cars (2019 Odyssey and 2008 Corolla) for hardly driving due to remote work, has any one found any better alternatives?

Re: Costco Anywhere starting limits or Reward Cards with high starting limit

Credit4Growth — Wed, 03 Feb 2021 17:38:16 GMT

@FICOlearner123 wrote:
@Credit4Growth 20K+ SL would be great. Thanks for your pointers, any idea if Cash + gives 5% for Geico insruance, does it classify it as utility category.

" @staticvoidmain wrote:

Starting limit aside, I would like to reiterate what others pointed out: It has online SP CLI. If your profile supports it, you can grow your limit without needing an HP.

My Costco Visa is one of my cards that has more credit than I currently need. I wish I could say the same for Amazon Visa. or the recently CLD'd Capital One.

Other poster in this thread, maybe only 2, have referenced their accounts have grow somewhat close to $20K., (above $15K with increases to reach their current limits).

Still, approvals and SL are based on profiles of the applicant and subjected to the mercy of the underwriters. You have great limits on multiple cards and that is a positive attribute that may work in your favor.

I really do not want to put it out there, that applying would be a crap shoot but ultimately "we get what we get"... outside of reconsideration and increases.

Re: Costco Anywhere starting limits or Reward Cards with high starting limit

K-in-Boston — Wed, 03 Feb 2021 17:38:45 GMT

@FICOlearner123 wrote:
@Credit4Growth 20K+ SL would be great. Thanks for your pointers, any idea if Cash + gives 5% for Geico insruance, does it classify it as utility category. While on car insurance I need to vent this out, I am currently paying premiums of 1K+ for 2 cars (2019 Odyssey and 2008 Corolla) for hardly driving due to remote work, has any one found any better alternatives?

US Bank's utilities category is only for electric, gas, water, and waste management.

If you have GEICO, make sure you are on a Pay In Full plan if your finances allow; there is a 10% discount for making one payment rather than making payments on a plan. There are also affiliate discounts available if you belong to certain credit unions (like NFCU), wholesale clubs (like BJ's), and many others.