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Amex BCE vs Citi Costco

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Valued Member

Amex BCE vs Citi Costco

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 (this is how I found out about secured cards).
Started building credit in January 2019. This is what it looks like right now (please hover over each card):

Citi Anywhere Costco | Planning on applying in Feb 2020
Car Loan | Planning on applying in May 2020
Chase Sapphire Preferred | Planning on applying in September 2020
Chase Business Ink | Planning on applying in December 2020



Message 1 of 8
7 REPLIES 7
Valued 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.




Total Length of Credit = 35+ years; AoOA (Currently open accounts) = 26+ years;
AAoA = 9+ years; AoYA = less than 1 year (Nov 2019)
Total Open Credit Lines Over $440K. Utilization Less Than 1%. Inquiries until May 2020 (TU:2 -- EQ:2 -- EX:6)
*Hover cursor over each card to see name, CL
Message 2 of 8
Valued Member

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 (this is how I found out about secured cards).
Started building credit in January 2019. This is what it looks like right now (please hover over each card):

Citi Anywhere Costco | Planning on applying in Feb 2020
Car Loan | Planning on applying in May 2020
Chase Sapphire Preferred | Planning on applying in September 2020
Chase Business Ink | Planning on applying in December 2020



Message 3 of 8
Frequent 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 8
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).


Fico 08: 734/716/734 TU/EX/EQ
Message 5 of 8
Valued Contributor

Re: Amex BCE vs Citi Costco

Costco Gas codes as gas not wholesale club. 

Message 6 of 8
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 current as of 12/01/19. Clean file. MYFICO 3B monthly subscription.
FICO 8 EQ=785 TU=782 EX=772
FICO 9 EQ=805 TU=787 EX=791
MORTGAGE SCORES EQ=778 TU=752 EX=755
AAoA=3Y1M AoOA=9Y10M AoYA=6M
VANTAGE SCORES EQ=806 TU=799 EX=798
BUSINESS CREDIT SCORES. EXPERIAN INTELLISCORE PLUS SCORE=68 SMALL BUSINESS SCORE SERVICE SCORE=195
HARD PULLS last 6 months EQ=1 TU=3 EX 3 ONE new account reporting.
HARD PULLS last 12 months EQ=1 TU=3 EX=4 ONE new account reporting.
HARD PULLS last 24 months EQ=7 TU=11 EX=11 SEVEN new accounts reporting. A lot of inquiries from mortgage rate shopping in early 2018.
GOALS=All 3 FICO 8s above 780 with the scores never dropping below that. Plan to keep those scores for new applications only every 4-6 months bonus chasing
INCOME=$240k as of 07/01/19 for income stated on applications. DTI=3.7% Business sales 125k monthly. Main Business and Personal banking=CHASE
I live in Green Bay, Wisconsin.
MORTGAGE. Opened 06/18. Paid off 05/19.
INSTALLMENT LOAN. Vehicle loan opened 08/18. Zero down. 45K at 0% for 60 months LINCOLN FINANCE no POI requested at dealer from a COSTCO purchase. I will keep this open at 0% as my only open installment account.

PERSONAL ACCOUNTS/OPEN DATE
CHASE FU=24.1k 07/19 AMEX BCP=24k 06/18 CITI COSTCO VISA=11.5k 06/18 DISCOVER=34k 10/17 PENFED PLATINUM REWARDS=10k 07/18 US BANK CASH+=3.5k 06/18 CITI BEST BUY VISA=4k 11/17 CAP1 GMC MC=4K 12/17

BUSINESS ACCOUNTS/OPEN DATE
AMEX SPG=10k 02/19 CHASE INK BUSINESS CASH=19.6k 07/18 CHASE INK BUSINESS UNLIMITED=30k 09/19 US BANK BUSINESS CASH+=29k 10/19 WELLS FARGO BUSINESS PLATINUM=20k 11/19 AMEX LOWES BUSINESS=15K 11/19

FUTURE PLANS
Close many cards as I am fully committed to Chase Ultimate Rewards program now. Costco travel at 5% cash back for backup.
Message 7 of 8
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 8
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