topic Re: Citi Costco Anywhere….what are the odds? in Credit Cards

Citi Costco Anywhere….what are the odds?

ReturnOfTheCredi — Fri, 21 Oct 2022 12:39:35 GMT

I wasn't planning on app'ing anything for at least the next year but we have finally gotten a Costco which opens in November and I've come to realize that using an Amex or MC in their store isn't possible. The Costco card has been on my radar and is one I was going to try for eventually, but now it seems a little more necessary if we plan to make use of the store (and we do).

Does anyone know if Citi has something similar to the Chase 5/24 rule? Is the Costco card any easier or more difficult to get approval for? They declined my app for a Premier back in August and I want to say it was based on inquiries or new trade lines. I'm definitely well over five in the last 24 months. I spoke with them to try for a recon, but got the whole "this is the algorithm and they can't change it" line. Perfect payment history and overall utilization of 11-12% made no difference.

Appreciate any feedback.

Re: Citi Costco Anywhere….what are the odds?

Hoben02 — Fri, 21 Oct 2022 12:49:27 GMT

You can use any Visa card for shopping at Costco in fact I only use my Costco card for gas if I don't have a better earning card at that moment. If you prefer online then you can use non visa cards

Re: Citi Costco Anywhere….what are the odds?

MySunrise271 — Fri, 21 Oct 2022 13:15:21 GMT

I've had my Citi cards for awhile, but reading here on MyFico I've learned Citi can be inquiry sensitive. Therefore you may want to search the Credit Application Approvals for any data points.🙂

Re: Citi Costco Anywhere….what are the odds?

ReturnOfTheCredi — Fri, 21 Oct 2022 13:12:31 GMT

Yeah, we just need to maximize the points and would prefer to do that with one card versus splitting our monthly spend between two or three different cards. Currently, the Amex Blue Cash Everyday has been the go-to, but I may have to split between that and our Chase Sapphire.

Re: Citi Costco Anywhere….what are the odds?

BronzeTrader — Fri, 21 Oct 2022 13:12:53 GMT

@ReturnOfTheCredi wrote:
I wasn't planning on app'ing anything for at least the next year but we have finally gotten a Costco which opens in November and I've come to realize that using an Amex or MC in their store isn't possible. The Costco card has been on my radar and is one I was going to try for eventually, but now it seems a little more necessary if we plan to make use of the store (and we do).

Does anyone know if Citi has something similar to the Chase 5/24 rule? Is the Costco card any easier or more difficult to get approval for? They declined my app for a Premier back in August and I want to say it was based on inquiries or new trade lines. I'm definitely well over five in the last 24 months. I spoke with them to try for a recon, but got the whole "this is the algorithm and they can't change it" line. Perfect payment history and overall utilization of 11-12% made no difference.

Appreciate any feedback.

There is no need for the Citi Costco card. We have it, but we only use it as our Costco ID. Do not charge shopping on the cards.

You can order Costco cash card or shop card at its website. You can pay with any card. It is a great way to use your e-GC or virtual GC to buy Costco cash card. You can use any Visa card at warehouse stores.

Re: Citi Costco Anywhere….what are the odds?

xenon3030 — Fri, 21 Oct 2022 13:30:05 GMT

The Citi Costco is one of the hardest Citi cards to obtain (together with Premier). Anyway, to bypass it, you may apply for an easier card and after sometime, request to PC it to Costco. It is a dead-end card and you cannot PC Costco to another card.

The Citi Costco gives 2% on Costco while you can find several cards in the market that give similar or even better cashback. In this year, Affinity Cash Rewards was the best card for shopping at Costco (giving 7% almost in the entire of the year).

Re: Citi Costco Anywhere….what are the odds?

BronzeTrader — Fri, 21 Oct 2022 14:45:05 GMT

I do not know Costco and Premier are hard cards to have. We have opened a couple of the Permier cards and most are approved online.

If you get US Bank Altitude Reserve, it has 3x on virtual wallet. I can use my virtual wallet at local warehouse. Also have a bunch of VGC and Costco cash cards to use.

Re: Citi Costco Anywhere….what are the odds?

pcmedic2k — Fri, 21 Oct 2022 23:56:52 GMT

Have the Costco Executive Membership and the Citi Costco Visa. In my opinion the combination is a Win-Win if you shop Costco regularly as we do. Using the Costco Visa while shopping there we earn 2% back (Executive Membership) and 2% back (Costco Visa). This has always resulted in more than enough membership rewards to pay for our membership renewal each year as well as another $100 -200 in cash back on the Visa rewards side.

Getting back to your question, my understanding is that Citi like most banks has different criteria for their own cards vs retailer branded cards, and each of the retailer cards has its own criteria. Not sure how strict they are on the 5/24 rule as when I got my Costco Visa I was over that. I can say they (Citi) are odd in their approvals. When I got approved I had just been approved 3 days earlier for their Citi Double Cash Card with only a $1300 (one of my lowest). Few days later was in Costco with my son and they were offering a deal on the membership if you were approved for the Citi Costco Card, figured why not and applied there in store while getting my membership and was approved for $5K. Still no where near some of my other limits, but a surprise considering they only gave me 1.5K a few days earlier on a different card.

Not sure this helps, but if you really want the card I would say first try the pre-qual on Citi's site (remember not a guarentee) and if and not real concerned about the hard inquiry go for it and apply.

Re: Citi Costco Anywhere….what are the odds?

OmarGB9 — Sat, 22 Oct 2022 01:03:12 GMT

@pcmedic2k wrote:
Have the Costco Executive Membership and the Citi Costco Visa. In my opinion the combination is a Win-Win if you shop Costco regularly as we do. Using the Costco Visa while shopping there we earn 2% back (Executive Membership) and 2% back (Costco Visa). This has always resulted in more than enough membership rewards to pay for our membership renewal each year as well as another $100 -200 in cash back on the Visa rewards side.

Getting back to your question, my understanding is that Citi like most banks has different criteria for their own cards vs retailer branded cards, and each of the retailer cards has its own criteria. Not sure how strict they are on the 5/24 rule as when I got my Costco Visa I was over that. I can say they (Citi) are odd in their approvals. When I got approved I had just been approved 3 days earlier for their Citi Double Cash Card with only a $1300 (one of my lowest). Few days later was in Costco with my son and they were offering a deal on the membership if you were approved for the Citi Costco Card, figured why not and applied there in store while getting my membership and was approved for $5K. Still no where near some of my other limits, but a surprise considering they only gave me 1.5K a few days earlier on a different card.
Not sure this helps, but if you really want the card I would say first try the pre-qual on Citi's site (remember not a guarentee) and if and not real concerned about the hard inquiry go for it and apply.

5/24 is a Chase thing, not Citi.

Re: Citi Costco Anywhere….what are the odds?

xenon3030 — Sat, 22 Oct 2022 01:18:33 GMT

To avoid accumulating HPs, you may use the prequal website to check the CC offers and the odds of approval. For the most difficult cards, they typically prefer ~6 month clean sheet (almost no inquiry), but it can vary from profile to profile.

I do not recommend applying for CC at any counter or checkout (apply online or in branch).

Re: Citi Costco Anywhere….what are the odds?

FicoComeback2018 — Sat, 22 Oct 2022 06:41:57 GMT

We're getting a Costco in November as well. Wanted to try for the Costco card but haven't made up my mind yet.

Re: Citi Costco Anywhere….what are the odds?

Life_take2 — Sat, 22 Oct 2022 17:38:07 GMT

I also recently got the Costco Visa (in June) and I found the 4% back on gas a big draw. I like the tap-to-pay with one card at the Costco pumps too (small bene but still) I also have their executive membership which gives me an additional 2%, essentially providing a total of 4% (2% on card / 2% exec) on Costco purchases....which sadly I can rack up far too easily. Has anyone EVER left that place for less than $100? ;-) So that adds up quickly. All in all it's a solid card and I didn't find any issues getting the card. SL was little lower than most (8.1K) but works for me. FYI- scores in siggy were about what they were at the time of the app for reference

Re: Citi Costco Anywhere….what are the odds?

ReturnOfTheCredi — Sun, 23 Oct 2022 16:51:30 GMT

@Life_take2 wrote:
I also recently got the Costco Visa (in June) and I found the 4% back on gas a big draw. I like the tap-to-pay with one card at the Costco pumps too (small bene but still) I also have their executive membership which gives me an additional 2%, essentially providing a total of 4% (2% on card / 2% exec) on Costco purchases....which sadly I can rack up far too easily. Has anyone EVER left that place for less than $100? ;-) So that adds up quickly. All in all it's a solid card and I didn't find any issues getting the card. SL was little lower than most (8.1K) but works for me. FYI- scores in siggy were about what they were at the time of the app for reference

Thank you! This is kind of the reply I was looking for. I know the card is not a huge draw for everyone. That said, we're not travelers. Cash back cards are our best bets and our spending revolves primarily around groceries and gas, much of which (if not all) will be coming from Costco once they open up. The gas pumps are already open and I've already been, and I have to say the one tap access at the pump is a pretty decent benefit of having the card. Tell me this: Does the 4% back for the card stack with the 2% back for the executive membership (I have that, too)?

I am also considering the U.S. Bank Shoppers card, too, and though it would not beat the Costco card on gas, it makes up for it with 3% across the board. That card could be a better bet for us.

Re: Citi Costco Anywhere….what are the odds?

ReturnOfTheCredi — Sun, 23 Oct 2022 16:53:25 GMT

@xenon3030 wrote:
To avoid accumulating HPs, you may use the prequal website to check the CC offers and the odds of approval. For the most difficult cards, they typically prefer ~6 month clean sheet (almost no inquiry), but it can vary from profile to profile.

I do not recommend applying for CC at any counter or checkout (apply online or in branch).

Can you elaborate on not app'ing in store? I ask only because they have some nice giveaways for doing it in store at times.

Re: Citi Costco Anywhere….what are the odds?

xenon3030 — Sun, 23 Oct 2022 17:33:28 GMT

This is to minimize discrepancy or surprise (denial, sending the card to wrong address due to mistake of cashier or other issues). I denied twice before at two different stores and to minimize accumulating HP, I do the apps online or in branch.