topic Re: American Express Gurus in Credit Cards

American Express Gurus

CreditExpressNJ — Sat, 22 Mar 2014 02:53:13 GMT

OK i have just been introduced to the American Express family today and I have a question.... I do not know the decision on my application yet for my BCP but i was approved for the True Earnings card what i would like to know though is ... Let say i do not get approved for the BCP how would i go about if i wanted to eventually PC the True Earnings to the BCP....

Is it even possible?

How long would I wait?

Any Specific CL i must have?

Re: American Express Gurus

Creditaddict — Sat, 22 Mar 2014 02:57:15 GMT

@shaun2009 wrote:
OK i have just been introduced to the American Express family today and I have a question.... I do not know the decision on my application yet for my BCP but i was approved for the True Earnings card what i would like to know though is ... Let say i do not get approved for the BCP how would i go about if i wanted to eventually PC the True Earnings to the BCP....

Is it even possible?
How long would I wait?
Any Specific CL i must have?

Not possible when it comes to costco.

its a co branded card that they don't allow PC.

but if PC was allowed it would be after 13 months usually but future cards wouldn't have to wait that long if you already have a card over 13 months

Re: American Express Gurus

CreditExpressNJ — Sat, 22 Mar 2014 03:00:19 GMT

@Creditaddict wrote:
@shaun2009 wrote:
OK i have just been introduced to the American Express family today and I have a question.... I do not know the decision on my application yet for my BCP but i was approved for the True Earnings card what i would like to know though is ... Let say i do not get approved for the BCP how would i go about if i wanted to eventually PC the True Earnings to the BCP....

Is it even possible?
How long would I wait?
Any Specific CL i must have?

Not possible when it comes to costco.
its a co branded card that they don't allow PC.
but if PC was allowed it would be after 13 months usually but future cards wouldn't have to wait that long if you already have a card over 13 months

Understand... answered all my questions..

Thanks..

*Hope I get Approved for the BCP which i doubt but its only a soft pull if denied so doesnt really matter*

Re: American Express Gurus

yudeology101 — Sat, 22 Mar 2014 03:06:28 GMT

@shaun2009 wrote:
@Creditaddict wrote:
@shaun2009 wrote:
OK i have just been introduced to the American Express family today and I have a question.... I do not know the decision on my application yet for my BCP but i was approved for the True Earnings card what i would like to know though is ... Let say i do not get approved for the BCP how would i go about if i wanted to eventually PC the True Earnings to the BCP....

Is it even possible?
How long would I wait?
Any Specific CL i must have?

Not possible when it comes to costco.
its a co branded card that they don't allow PC.
but if PC was allowed it would be after 13 months usually but future cards wouldn't have to wait that long if you already have a card over 13 months
Understand... answered all my questions..

Thanks..

*Hope I get Approved for the BCP which i doubt but its only a soft pull if denied so doesnt really matter*

Correct, SP if denied, HP if approved. If you have apped for the BCP within minutes, let's hope for the 1HP for both cards, but since both cards are revolvers, I've seen in a different thread that it was 2HPs when they app'ed for 2revolvers.

Best of luck!

Re: American Express Gurus

bichonmom — Sat, 22 Mar 2014 04:57:13 GMT

@shaun2009 wrote:
OK i have just been introduced to the American Express family today and I have a question.... I do not know the decision on my application yet for my BCP but i was approved for the True Earnings card what i would like to know though is ... Let say i do not get approved for the BCP how would i go about if i wanted to eventually PC the True Earnings to the BCP....

Is it even possible?
How long would I wait?
Any Specific CL i must have?

Congrats on your Costco card and good luck w/BCP! I have Costco & BCE and use them 90% of the time.

@Anonymous to try for a CLI after 60 days. I started w/$2k on Costco and CLI'd to $6k @ 60 days. You can only CLI one after 60 days and then wait 6 mos if you want to CLI the other card.

If you don't get the BCP, I'd wait 6 mos or maybe till January for better backdating, and app again. I got my BPE 1 yr after the Costco card.

Good luck!

Re: American Express Gurus

Open123 — Sat, 22 Mar 2014 13:50:32 GMT

As others have mentioned, PCs aren't allowed into or out of Costco.

I suspect, like the Chase Amazon, it's an agreement to keep an issuer from poaching Partner's customers. As you can imagine, neither Amzn or Costco would be too thrilled if people app for their cards only to PC to exclusive Chase or Amex products.

Regarding the TE, it's great for gas at Costco, but for regular Costco spend, it's 1% cashback, which is hardly compelling. All other Amex cards are at least 1% and many others are better to use for Costco non-gas spending.

Re: American Express Gurus

CreditExpressNJ — Sat, 22 Mar 2014 14:18:03 GMT

@Open123 wrote:
As others have mentioned, PCs aren't allowed into or out of Costco.

I suspect, like the Chase Amazon, it's an agreement to keep an issuer from poaching Partner's customers. As you can imagine, neither Amzn or Costco would be too thrilled if people app for their cards only to PC to exclusive Chase or Amex products.

Regarding the TE, it's great for gas at Costco, but for regular Costco spend, it's 1% cashback, which is hardly compelling. All other Amex cards are at least 1% and many others are better to use for Costco non-gas spending.

I think its 2% spending at Costcos according to there terms on the site but i got it for specific use at Costco because upon signing up for the membership i was reading that they only accept Costco Amex , Debit cards and Cash and i just figured why not apply and at least get something out of it then spending regular cash... And i think the 3% is for all US Gas Stations not just Costco from the way it sounds in the terms ....So i'm guessing it could be my Costco and Gas Card til i get something better if BCP doesnt come through.

Re: American Express Gurus

iHackerSix — Sat, 22 Mar 2014 14:26:56 GMT

@Creditaddict wrote:
@shaun2009 wrote:
OK i have just been introduced to the American Express family today and I have a question.... I do not know the decision on my application yet for my BCP but i was approved for the True Earnings card what i would like to know though is ... Let say i do not get approved for the BCP how would i go about if i wanted to eventually PC the True Earnings to the BCP....

Is it even possible?
How long would I wait?
Any Specific CL i must have?

Not possible when it comes to costco.
its a co branded card that they don't allow PC.
but if PC was allowed it would be after 13 months usually but future cards wouldn't have to wait that long if you already have a card over 13 months

Are you sure it's across the board? I had my Delta Amex Gold Card (Delta/Amex Cobranded) and after 3 months I PC'D to the Amex BCE without a problem. Of course it may be a CostCo thing only and not necessarily a Cobranding issue. To the OP: I suggest calling Amex and giving it a shot, after all what do you have to lose?

Re: American Express Gurus

Open123 — Sat, 22 Mar 2014 14:26:49 GMT

@shaun2009 wrote:
I think its 2% spending at Costcos according to there terms on the site but i got it for specific use at Costco because upon signing up for the membership i was reading that they only accept Costco Amex.

You receive a 1% (1.5% Premier?) cashback on your Costco membership and 1% on your Amex TE, which is 2% when combined. However *ANY* card run on the Amex network will be accepted at Costco, such as Fid Amex 2% or PenFed Amex.

Costco.coom will accept Visa/MC/Discover, along with Amex.

Re: American Express Gurus

CreditExpressNJ — Sat, 22 Mar 2014 14:29:19 GMT

Well that would have come in handy before i applied for the TE i could have just went for a basic one but nevertheless still a success now even if i dont get approved for the BCP i locked in a backdate of 3/2014 for any future Amex cards..

Re: American Express Gurus

Open123 — Sat, 22 Mar 2014 14:36:46 GMT

@shaun2009 wrote:
Well that would have come in handy before i applied for the TE i could have just went for a basic one but nevertheless still a success now even if i dont get approved for the BCP i locked in a backdate of 3/2014 for any future Amex cards..

The main difference is the Amex TE is the only card which confers the gas bonus at Costco. And, if you ever cancel your Costco membership, your TE will be cancelled, whereas other Amex cards aren't Costco membership dependent.

If you plan to be a long time Costco Member, the TE isn't a bad choice, just for the TL and gas. When at the store, use another Amex with better rewards, such as Fid Amex 2% or SPG or ED cards, if you value points over cash.

1% is nothing special, at all.

Re: American Express Gurus

CreditExpressNJ — Sat, 22 Mar 2014 15:00:58 GMT

@Open123 wrote:
@shaun2009 wrote:
Well that would have come in handy before i applied for the TE i could have just went for a basic one but nevertheless still a success now even if i dont get approved for the BCP i locked in a backdate of 3/2014 for any future Amex cards..
The main difference is the Amex TE is the only card which confers the gas bonus at Costco. And, if you ever cancel your Costco membership, your TE will be cancelled, whereas other Amex cards aren't Costco membership dependent.

If you plan to be a long time Costco Member, the TE isn't a bad choice, just for the TL and gas. When at the store, use another Amex with better rewards, such as Fid Amex 2% or SPG or ED cards, if you value points over cash.

1% is nothing special, at all.

@+100 @ that .... I always wondered why so many places offer 1% its so many 1% out there you might as well change pick something else but i can also understand that the other thing is nothing so something is always better than nothing i guess.... I dont believe i have any Costco gas stations near me ... and Yea i plan on being a lifetime Costco member its a great store i just left BJs store membership for Costco i believe they have better pricing at Costco... which brings me to teh Cap1 1.5% isnt great either you might as well use a 1% I've been thinking very seriously about SDing my QS1 its .5 more than my Discover for none Category not to mention have other cards i can use that offer points better than 1.5% CB

Re: American Express Gurus

dds2be — Mon, 24 Mar 2014 02:56:05 GMT

Just a bit of info from a costco employee
- costco accepts ANY american express card in the store, not necessarily just the TE. A lot of people apply for the TE b/c they think that it is the only amex we accept.

- if you have the executive ($110) membership at costco, you earn 2% cash back on all your costco purchases (except for tobaco/gas/stamps), no matter what form of payment you use. If you have the TE card+ the executive membership, you earn 2% cash back from costco's program +1% cash back from AMEX TE.

- you can get the AMEX TE card with any level membership, and right now its an in store offer only, we give $55 statement credit (after $250 spend in 90 days) to anyone signing up for the AMEX as an executive member, or any current executive member applying. If you app for the business version of amex TE (difference is 4% cashback on gas instead of 3%) we give $110 statement credit (after $250 spend in 90 days).

- and yes, gas is 3% back at costco gas, and all stand alone gas stations. i have an amex PRG, and filling gas at costco would only give me 1x MR points vs the 2x that i would get at a stand alone gas station. so really, if you are someone who only likes to fill gas at costco (we have so many people that will wait behind 5 cars to fill at costco gas, to save an extra couple cents, why i dont know) then the TE card is great for that 3% cuz no other amex that offers cash back higher than 1% on gas purchases count costco gas as a stand alone gas station.

hope that helps!

Re: American Express Gurus

-Wade- — Mon, 24 Mar 2014 03:02:22 GMT

@shaun2009 wrote:
OK i have just been introduced to the American Express family today and I have a question.... I do not know the decision on my application yet for my BCP but i was approved for the True Earnings card what i would like to know though is ... Let say i do not get approved for the BCP how would i go about if i wanted to eventually PC the True Earnings to the BCP....

Is it even possible?
How long would I wait?
Any Specific CL i must have?

Congrats on your approval and welcome to the Amex family and good luck on the BCP