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Amex BCE vs Citi Costco & CSP approval odds?

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MrPepperoni
Regular Contributor

Amex BCE vs Citi Costco & CSP approval odds?

Hi Community,

I have a question and just want to see what do you all think..
As you can see in my signature, I am trying to get Citi Costco and Car Loan next year...
So, to be on a safe side and to be more eligible for a car loan (which will be around 15k with another maybe 5-7k down) and to get more available limit just for overall future credit file building opportunities I am thinking what is the best next move !?
I see that Amex Blue Chase Everyday is giving higher SL's in most of the cases than Citi Costco and I feel like it is easier to get approved for it. So, isn't it better decision for me at the moment? Please check my signature to see what my credit file looks like right now. Planning on applying for either of the above mentioned 2 cards in January - February 2020. Also, if you have a better suggestion, please let me know!
Thank you and happy Thanksgiving!
Moved to the US in August 2018.
Applied for Citi Costco in November 2018 - Denied due to lack of history (no history).
Started building credit in January 2019. Please hover over each card:

Also have Chase Marriott Bonvoy Bold (6 months old, $11k limit)
Bilt Credit Card (6 months old, $2k limit)
Amex Hilton Honors Surpass (1 month old, $16k limit)
Two paid off auto loans ($20.5K and $15.7K)



Message 1 of 26
25 REPLIES 25
Aim_High
Super Contributor

Re: Amex BCE vs Citi Costco

Either could be good.  The big question is, what is your lifestyle, income, spending levels, and where do you put the majority of your spend?  I would highly suggest you consider what attributes you will appreciate in a card for the long-term, not just to help you qualify for a car loan.

 

Both cards have a base payout of 1% on "everything else" uncategorized spend, so that is a "tie". 

 

Costco card is great but spend is oriented much differently that BCE.  First, do you already have a Costco membership and a Costco in your area that you shop at regularly??  Costco membership starts at $60 so this effectively becomes an "annual fee" card if you don't offset the fee with savings from regular Costco shopping.  Highest payout is in gas at 4%.  Do you drive a lot?  Next highest is Dining Out/Travel at 3%.  Great payout if you spend on these anyway.  2% at Costco/Costco.com.    On the other hand, BCE pays 3% on groceries, which Costco doesn't have a special higher payout category for.  Do you eat out more or buy groceries more??  BCE pays much less (HALF) on gasoline at 2% vs Costco 4%.   BCE is a no-AF card, so it might be best if you don't already have a Costco membership. 

 

From what I've read about credit limits with profiles such as yours, you might get a higher CL with AMEX if that is important for you.  But I don't think the difference in CL between the two would make any difference on getting approved for a car loan or the terms offered.


Business Cards


Length of Credit > 40 years; Total Credit Limits >$850K
Top Lender TCL - Chase 156.4 - BofA 99.7 - AMEX 95.0 - CITI 94.5 - NFCU 80.0
AoOA > 30 years (Jun 1993); AoYA (Aug 2023)
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 2 of 26
MrPepperoni
Regular Contributor

Re: Amex BCE vs Citi Costco

Thank you for your reply!
I have Costco membership and I do shop and fuel up there all the time.
So, I consider that CC as no annual fee because I am shopping at Costco anyway.
About the CL, I thought that it makes a difference if I am asking for a 15k car loan with just let's say 6k of available credit at the moment of application (if I apply for Citi Costco and they give me let's say 2k SL)  vs 10-12k available credit (if I get BCE with let's say 6-8k SL).

Moved to the US in August 2018.
Applied for Citi Costco in November 2018 - Denied due to lack of history (no history).
Started building credit in January 2019. Please hover over each card:

Also have Chase Marriott Bonvoy Bold (6 months old, $11k limit)
Bilt Credit Card (6 months old, $2k limit)
Amex Hilton Honors Surpass (1 month old, $16k limit)
Two paid off auto loans ($20.5K and $15.7K)



Message 3 of 26
Andypanda
Established Contributor

Re: Amex BCE vs Citi Costco

In the long term you can have both. I have both, and use both regulerly. Bith will grow with usage and on time payments.

Message 4 of 26
DaveInAZ
Senior Contributor

Re: Amex BCE vs Citi Costco


@MrPepperoni wrote:

Thank you for your reply!
I have Costco membership and I do shop and fuel up there all the time.
So, I consider that CC as no annual fee because I am shopping at Costco anyway.
About the CL, I thought that it makes a difference if I am asking for a 15k car loan with just let's say 6k of available credit at the moment of application (if I apply for Citi Costco and they give me let's say 2k SL)  vs 10-12k available credit (if I get BCE with let's say 6-8k SL).


Blue Cash Everday only gives 3% on groceries at stores that code as grocery, primarily chains like Kroger or Safeway, Costco will code as Membership/ Wholesale Club for 1%. BCE gives 2% on gas, but I'm not sure Costco codes as gas, it might also code as Membership /Wholesale Club. High CC limits won't help your car loan, high down payment & low DTI will (debt to income ratio).

Message 5 of 26
randomguy1
Valued Contributor

Re: Amex BCE vs Citi Costco

Costco Gas codes as gas not wholesale club. 

Message 6 of 26
KELSTAR
Regular Contributor

Re: Amex BCE vs Citi Costco

I think with your scores you would get the following credit lines if approved.

 

AMEX BCE 2 OR 4K

COSTCO about 4k-6500

 

If you change your Costco membership to the Executive Membership first, might make a difference in starting line. It also increases your rewards at Costco spend to an extra 2% to 4% for the extra 60.00 annual fee.

 

Also, check out the Costco car buying service when you come to it. I bought my vehicle using the service. Hassle free!

Signature as of 10/01/21. Clean file. MYFICO 3B. I live in Green Bay, Wisconsin for those tracking what credit bureau is pulled by location.
FICO 8 EQ=796 TU=799 EX=801
FICO 9 EQ=816 TU=816 EX=813
MORTGAGE SCORES EQ=773 TU=782 EX=787
AAoA=4Y3M AoOA=11Y4M AoYA=5M
VANTAGE SCORES EQ=825 TU=813 EX=813
BUSINESS CREDIT SCORES. Formed LLC 6/1/18. YEARLY SALES=3M
EXPERIAN BUSINESS CREDIT SCORE=77 EXPERIAN FINANCIAL STABILITY RISK RATING=1 SMALL BUSINESS SCORE SERVICE SCORE=210 D+B=80
HARD PULLS last 12 months EQ=1 TU=1 EX=1 Three new accounts reporting.
HARD PULLS last 24 months EQ=1 TU=2 EX=2 Four new accounts reporting.
INCOME=$290k as of 10/01/21 for income stated on applications. DTI=2.5% Business sales 300k monthly.
MAIN BUSINESS and PERSONAL BANKING=CHASE
MORTGAGE=800K 03/21 2.25%
INSTALLMENT LOAN. Vehicle loan opened 08/18. Zero down. 45K at 0% for 60 months LINCOLN FINANCE.

OPEN PERSONAL ACCOUNTS/OPEN DATE
DISCOVER=34k 10/17 CITI COSTCO VISA=16k 06/18 US BANK CASH+=7k 06/18 PENFED PLATINUM REWARDS=10k 07/18 CHASE FREEDOM=10k 07/19 CHASE SAPPHIRE RESERVE=14.1k 09/20 AMEX PLATINUM= NPSL 04/21 AMEX HILTON SURPASS=10k 05/21

OPEN BUSINESS ACCOUNTS/OPEN DATE
CHASE INK CASH=10k 07/18 AMEX MARRIOT BONVOY=10k 02/19 CHASE INK UNLIMITED=10k 09/19 US BANK BUSINESS CASH=29k 10/19 WELLS FARGO BUSINESS PLATINUM=20k 11/19 AMEX LOWES BUSINESS=15k 11/19 AMEX BLUE BUSINESS PLUS=35k 02/20 CHASE INK PREFERRED=50k 07/20 AMEX BUSINESS GOLD=NPSL 09/20 AMEX BUSINESS PLATINUM=NPSL 05/21 CHASE BUSINESS LINE OF CREDIT= 225k 09/21
Message 7 of 26
randomguy1
Valued Contributor

Re: Amex BCE vs Citi Costco


@KELSTAR wrote:

I think with your scores you would get the following credit lines if approved.

 

AMEX BCE 2 OR 4K

COSTCO about 4k-6500

 

If you change your Costco membership to the Executive Membership first, might make a difference in starting line. It also increases your rewards at Costco spend to an extra 2% to 4% for the extra 60.00 annual fee. 

 

Also, check out the Costco car buying service when you come to it. I bought my vehicle using the service. Hassle free!


To add on to the Executive membership, if you do not make the extra $60 in cashback at the end of the year, you can go to membership services and they will refund your $60 at the end of the year. The membership is for you to gain money, they do not want you to lose money on the Executive Membership. 

Message 8 of 26
MrPepperoni
Regular Contributor

Citi Costco / Chase Sapphire Preferred Approval Odds

Hi Community,

So far fellow members were very helpful and I got where I am right now with my credit Smiley Happy
Just wanted to see what you guys think on my approval odds for the for Citi Costco / CSP at the moment.
I have a thin file and a perfect but short history.
You can see all the details in my signature. The plan is to have a chase trifecta and I was planning to get citi costco first but Credit Carma shows "Fair Approval Odds" for Citi Costco and "Good Approval Odds" for CSP...so this is why I started thinking maybe it makes sense to go with CSP now and later Citi Costco !?
What do you think?
Also, I just found out that Citi Costco cashback is redeemable only once a year...which makes it less attractive now...so maybe I should get another card instead? But yes I shop and fuel up at costco.
Thank you!

Moved to the US in August 2018.
Applied for Citi Costco in November 2018 - Denied due to lack of history (no history).
Started building credit in January 2019. Please hover over each card:

Also have Chase Marriott Bonvoy Bold (6 months old, $11k limit)
Bilt Credit Card (6 months old, $2k limit)
Amex Hilton Honors Surpass (1 month old, $16k limit)
Two paid off auto loans ($20.5K and $15.7K)



Message 9 of 26
FinStar
Moderator Emeritus

Re: Citi Costco / Chase Sapphire Preferred Approval Odds

Based on your last posts and previous feedback given by other members on your other threads, the odds may not seem favorable yet.

Also, keep in mind that any recommendations from sites like Credit Karma, Card Match, etc., are generally unreliable unless your profile is solid and can support an approval.
Message 10 of 26
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