topic Re: CostCo Amex in Credit Cards

CostCo Amex

Anonymous — Fri, 20 Jul 2012 14:13:54 GMT

Anyone know which credit report Amex use when apply for costco amex?

Re: CostCo Amex

tcbofade — Fri, 20 Jul 2012 14:16:02 GMT

Experian.

Re: CostCo Amex

gettnthere — Fri, 20 Jul 2012 14:47:48 GMT

AMEX usually always pulls Experian

Re: CostCo Amex

Anonymous — Fri, 20 Jul 2012 14:48:17 GMT

@tcbofade wrote:
Experian.

Re: CostCo Amex

Anonymous — Fri, 20 Jul 2012 15:16:23 GMT

Thanks everyone, plan to aply it this weekend at costco, keep my finger cross that i will get approve

Re: CostCo Amex

Anonymous — Fri, 20 Jul 2012 19:14:13 GMT

I hope you get approved and please let us know what happens!!

Re: CostCo Amex

-Cain- — Sat, 21 Jul 2012 03:02:17 GMT

Good luck!! Do you know your EX score? What's your report like? Will there be a sign-up drive this weekend at the store? I like to think a borderline app has more of a chance during those drives, of course I have no stats to back that.

Re: CostCo Amex

Anonymous — Mon, 23 Jul 2012 04:26:46 GMT

Cain, the last time i got the score through my credit union back end of June 2012 was 785 for my EX. I was apply for the auto loan so not sure is regular fico score or Auto Enhance. Don't really have any nagative items on my report except one 30 days late back on Jan 2006. Other than that, all bill show current. Current Utilization basically is 0%. Good news is we decide to go to the costco today and apply right there, so glad got an instant approval with 12,500 credit line, i was wow...

Re: CostCo Amex

Anonymous — Mon, 23 Jul 2012 05:14:09 GMT

Why do you apply costo amex? I think other Amex cards can also been used at Costo. Costo Amex gives 3% rewards at Costco, but 2% of them are actually from Costco Gold Membership, you are actually getting 1% from using the card.

Re: CostCo Amex

-Cain- — Mon, 23 Jul 2012 06:14:56 GMT

OP, congrats and nice CL!

@Anonymous wrote:
Why do you apply costo amex? I think other Amex cards can also been used at Costo. Costo Amex gives 3% rewards at Costco, but 2% of them are actually from Costco Gold Membership, you are actually getting 1% from using the card.

2% from Gold? I know executive gives 2%, I thought Gold was the basic no reward membership.

Re: CostCo Amex

Anonymous — Mon, 23 Jul 2012 06:28:03 GMT

You are right. So the real benefit of Costco Amex is a free upgrade from Gold Membership to Executive Membership. ($50 annual savings).

Am I right?

@-Cain- wrote:
OP, congrats and nice CL!
@Anonymous wrote:
Why do you apply costo amex? I think other Amex cards can also been used at Costo. Costo Amex gives 3% rewards at Costco, but 2% of them are actually from Costco Gold Membership, you are actually getting 1% from using the card.
2% from Gold? I know executive gives 2%, I thought Gold was the basic no reward membership.

Re: CostCo Amex

-Cain- — Mon, 23 Jul 2012 07:30:50 GMT

@Anonymous wrote:
You are right. So the real benefit of Costco Amex is a free upgrade from Gold Membership to Executive Membership. ($50 annual savings).
Am I right?
@-Cain- wrote:
OP, congrats and nice CL!
@Anonymous wrote:
Why do you apply costo amex? I think other Amex cards can also been used at Costo. Costo Amex gives 3% rewards at Costco, but 2% of them are actually from Costco Gold Membership, you are actually getting 1% from using the card.
2% from Gold? I know executive gives 2%, I thought Gold was the basic no reward membership.

That's a good question. I'm not sure if it upgrades one's membership level or not, I already had Executive when I signed up.

Re: CostCo Amex

Anonymous — Mon, 23 Jul 2012 08:57:53 GMT

The card doubles as your Costco card you get your picture on the back of it and yes it's also the Executive card and it pays for itself, great card I love mine!

Re: CostCo Amex

iMacDrew — Mon, 23 Jul 2012 10:34:09 GMT

either way congrats on the card, thats a nice limit.

Re: CostCo Amex

Repo-ed — Mon, 23 Jul 2012 11:01:08 GMT

One day I/we will get that costco card!

Re: CostCo Amex

Anonymous — Mon, 23 Jul 2012 16:46:05 GMT

Regardless, i like the cash back even thought for costco only 1%, but I alwaus think this way, it may look like very tiny amount but it add up. I like the 3% cash back for gas which is great.

Thanks everybody for all your great advice. Love this forum

Re: CostCo Amex

Anonymous — Mon, 23 Jul 2012 17:00:46 GMT

Just confirmed with Costco. Amex Costco card does not upgrade you to executive level. If you want the 2% cash back, you need to pay for executive level. Over around 2800 a year at Costco for it to make financial sense.

Re: CostCo Amex

Quips — Mon, 23 Jul 2012 18:00:30 GMT

Agree - i have had this card for about 2 years and love it. The thing i really like is the 2% cash back on restaurants as well since we eat out a good bit.

Re: CostCo Amex

Anonymous — Mon, 23 Jul 2012 18:30:41 GMT

@Anonymous wrote:
Regardless, i like the cash back even thought for costco only 1%, but I alwaus think this way, it may look like very tiny amount but it add up. I like the 3% cash back for gas which is great.
Thanks everybody for all your great advice. Love this forum

Re: CostCo Amex

2NE1 — Tue, 24 Jul 2012 00:02:43 GMT

@Repo-ed wrote:
One day I/we will get that costco card!

Same here, I remember I applied two times back in the day (about four years ago) when I had no knowledge of how credit scores worked and was always denied! LOL, now I am working towards reaching this goal on the right path!