topic Re: Amex costco in Credit Cards

Amex costco

borsin — Wed, 08 Aug 2012 02:48:09 GMT

I'd like to add an amex to my porfolio sooner rather than later since I've read they are inquiry sensitive. Based on my history provided do I have a good chance of being approved in store assuming they pull EX only? Score was EX 644 before new CC opening.

1 inquiry on EX

Oldest account 10 yr

2 - 60 day late 7 years ago

AU on one card reporting 0% 5 years old

One other CC opened less than 4 months ago

Current installment loan, no lates, around 2 years open

No other baddies

Re: Amex costco

Revelate — Wed, 08 Aug 2012 02:56:59 GMT

I don't think so, Webby semi-recently got one and I think her score was around 670-680 EX and I think most other approvals were higher scores.

Right now you might not even be qualified for a Zync (minimum six months, not sure if they include installment loans though on that or only revolving). If you're just looking at Amex membership, I'd wait for a bit till at least you've made your sixth payment on your current CC and it reports, then I'd apply for a Zync. Later (next year) I'd go for the Costco card, probably January even.

Re: Amex costco

-Cain- — Wed, 08 Aug 2012 02:57:40 GMT

660+ is what they say AmEx likes to see, have you tried their pre-approved offers link?

Re: Amex costco

borsin — Wed, 08 Aug 2012 03:02:09 GMT

What's the link for the amex preapproval and is it a soft pull? I thought I saw one here but it was dead or I couldn't find the right place to input my information.

The AU account would give me 5 years of CC history, that doesn't help?

Re: Amex costco

-Cain- — Wed, 08 Aug 2012 03:09:31 GMT

http://www304.americanexpress.com/getthecard/home?sj_tabToOpen=3

Re: Amex costco

borsin — Wed, 08 Aug 2012 03:23:21 GMT

Nope, no existing offers for me. I wonder if that's due to opting-out?

Re: Amex costco

-Cain- — Wed, 08 Aug 2012 03:28:03 GMT

@borsin wrote:
Nope, no existing offers for me. I wonder if that's due to opting-out?

probably so.

I'm not sure how the AU accout would affect your app. I'd say it would weigh less in a manual review, might help where there is an instant computer decision.

Re: Amex costco

borsin — Wed, 08 Aug 2012 14:15:48 GMT

Does anyone know if Costco does manual reviews or do they approve/deny based on the fico score?

I think if they go by score I could potentially be approved but I'd hate to waste an inquiry.

Re: Amex costco

CK_Charles_Lover — Wed, 08 Aug 2012 14:19:37 GMT

@ borsin

Are you already an Amex member? If you are it would only be a soft pull if denied. Then if you are approved a hard pull. I would think everything is computer first nowadays. What are scores?

Re: Amex costco

Creditaddict — Wed, 08 Aug 2012 14:43:28 GMT

I would suggest applying for Zync. If you get approved for that then you can go ahead and run to Costco and apply and see... but Im not sure you are up to Costco area under 650, think it's more around a 675+ with no recent baddies.

Manual review not to mucn, they use to submit it to be reviewed, I helped 3 or 4 friends back in 2003-2005 get Amex Blue - I thought that was easiest and I never saw a CL below $2k... now I think Delta or Costco now.

Re: Amex costco

borsin — Wed, 08 Aug 2012 16:34:00 GMT

The score I posted was before I was added as an AU, so my score could actually be higher now but since I can't purchase my Ex there's no way of knowing. That EX score was from my new CC.

If I apply for the zync online would they see the AU or does the online approach just see a score?

Re: Amex costco

borsin — Wed, 08 Aug 2012 19:40:36 GMT

Bump

Re: Amex costco

Anonymous — Wed, 08 Aug 2012 19:51:42 GMT

@Creditaddict wrote:
I would suggest applying for Zync. If you get approved for that then you can go ahead and run to Costco and apply and see... but Im not sure you are up to Costco area under 650, think it's more around a 675+ with no recent baddies.

Manual review not to mucn, they use to submit it to be reviewed, I helped 3 or 4 friends back in 2003-2005 get Amex Blue - I thought that was easiest and I never saw a CL below $2k... now I think Delta or Costco now.

I could be wrong, but from reading various sites, the Amex Costco TEs card is not an easy card to get. Most sites recommend a mimum 700 fico score...but I guess YMMV.

Re: Amex costco

Anonymous — Wed, 08 Aug 2012 19:54:42 GMT

People seem a biT mixed up. Your score matters, but every computer decision looks at the raw data of a credit report. It throws it through several different models and checks. Your score is a raw indicator. Amex seems to have its own scoring model as well. Based on the info provided, I think you are marginal for approval. Online or otherwise, process should be similar. Up to you whether or not to take risk. Zync is easier to get approved for.

Re: Amex costco

Anonymous — Wed, 08 Aug 2012 19:56:15 GMT

I'd let the 60 day lates fall off and apply for the card you want in January.