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Costco Citi Visa

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blkroyalT
Established Member

Costco Citi Visa

Hey guys, Yesterday against my better judgement (lol), I applied for the Costco Citi Visa card. DH and I shop there and purchase gas quite often, so I thought it would be a good card to add. Well, got the automatic decline with the 7-10 day message. This morning, I opened my email to a letter from Citi citing bankruptcy as the reason for denial. Our bankruptcy was filed 11/17 and discharged 8/23. I called the recon line, but no help from the rep. She only said that I needed to wait for the actual letter to come in the mail and then call back for reconsideration. Apparently the letter is supposed to show a different reason than what I received in the emailed letter (?). So we wait.......for DP, they pulled Equifax. Another thing, there is no hard pull alerts anywhere for this application. Hopefully there won't be....lol! Current Scores: EQ 701 (as of 2/1/24) TU 684 (as of 1/25/24) EX 705 (as of 1/25/24)
And if at first you don’t succeed, you can dust it off and try again

temp-Images-AMizotemp-Imageltbxw-Ntemp-Imagec-ASE0-Atemp-Imagej-VVIgltemp-Image-Gfmx-NJtemp-Image-Hxjf0-Qtemp-Image-N2-Zi-NUtemp-Image-N2-Zi-NUtemp-Imagexs-Ij-XYtemp-Imagezkm-Aq-Ktemp-Imagecd-GSZF
Message 1 of 16
15 REPLIES 15
Jeffster1
Valued Contributor

Re: Costco Citi Visa

@blkroyalT  So sorry to hear about the decline.

 

I kinda have my sights set on the Costco Visa when:

 

1. Some inquiries fall off;

2. My 13 falls off (only EQ remaining; EX and TU gone);

2. I get over my angst with my local Costco's parking lot which was the main reason I dropped my membership.

 

I know the Citi experts on here will chime in but I do know that...as opposed to Citi retail cobranded Visas like Best Buy, Macy's and Bloomingdale's...the Citi Costco card is a core Citi card, and therefore has much more stringent standards. 

I do not know how long after DC Citi makes you wait for them to seriously consider you for a core card. I'm sure it's also a bit of YMMV, and whether they were burned in the BK. 

It's a good card which I would love to have, as well!

 

 

FICO 8 (3/1/24) EX 805 EQ 824 TU 844

Current lineup as of 9/23
American Express Gold | American Express Blue Cash Everyday 11K | American Express Blue Cash Preferred 10K I American Express Marriott Bonvoy Bevy 5K I American Express Hilton Honors Surpass 3K I Bank of America Customized Cash Rewards Visa 20K | Kinecta MyPerks Rewards MC 35K | TD Bank Double Up Visa 4K | USBank Platinum Visa 5K | BMO Harris Cash Back MasterCard 12K | Capital One SavorOne MC 3K | Capital One Walmart MC 2K | NFCU Amex 20K | NFCU CashRewards Visa 20K I Citi Best Buy Visa 10K I Macy’s Amex 6.5K I Bread Financial American Express 8K l AAA Daily Advantage Visa Signature 6K I Wells Fargo BILT World Elite MC 30K I BCU Cash Rewards Visa 8K I Chevron Techron Advantage Visa 2.5K I JCPenney Mastercard $6K I UCLA Wescom CU Rewards Visa 7K I
Message 2 of 16
blkroyalT
Established Member

Re: Costco Citi Visa


@Jeffster1 wrote:

@blkroyalT  So sorry to hear about the decline.

 

I kinda have my sights set on the Costco Visa when:

 

1. Some inquiries fall off;

2. My 13 falls off (only EQ remaining; EX and TU gone);

2. I get over my angst with my local Costco's parking lot which was the main reason I dropped my membership.

 

I know the Citi experts on here will chime in but I do know that...as opposed to Citi retail cobranded Visas like Best Buy, Macy's and Bloomingdale's...the Citi Costco card is a core Citi card, and therefore has much more stringent standards. 

I do not know how long after DC Citi makes you wait for them to seriously consider you for a core card. I'm sure it's also a bit of YMMV, and whether they were burned in the BK. 

It's a good card which I would love to have, as well!

 

 


I was going back and forth on deciding if I should apply, but figured what the heck. It was the last card I really wanted to try before gardening. So far (fingers crossed) no hard inquiry is showing, so it's fine. Like you, I will see where things are after the BK falls off and a few inquiries age. That will give time to get some good spend on my Amex cards. Hopefully we'll update with our approvals soon!!
And if at first you don’t succeed, you can dust it off and try again

temp-Images-AMizotemp-Imageltbxw-Ntemp-Imagec-ASE0-Atemp-Imagej-VVIgltemp-Image-Gfmx-NJtemp-Image-Hxjf0-Qtemp-Image-N2-Zi-NUtemp-Image-N2-Zi-NUtemp-Imagexs-Ij-XYtemp-Imagezkm-Aq-Ktemp-Imagecd-GSZF
Message 3 of 16
CreditCobra
Regular Contributor

Re: Costco Citi Visa

For what it's worth, I have this card and it's one of my least used cards. I purchase a lot of items as Costco, and I buy gas there pretty much exclusively.

 

For gas I use my Abound Visa Platinum Credit Card for 5% cash back. In the warehouse, I use my Venmo Visa for 3% cash back. This combo outperforms the Citi Costco Visa in a couple ways, it's 1% more cash back in both those categories, and both cards have no spending cap. Furthermore, the Abound card posts an automatic statement credit for the month when the statement cuts. The Venmo card allows you to redeem your rewards monthly when the statement cuts. You can direct deposit, or statement credit from there.

 

The Abound card will likely only give you a $2,000 credit line (unless you live in Kentucky - which I don't).

 

The biggest drawback of the Citi Costco Visa for me is that you can only cash out your cash back once a year.

Current Cards:

Stats (updated: 5/24/2024):


Message 4 of 16
GreatLife
Regular Contributor

Re: Costco Citi Visa

My spouse is a long time Costco employee and even with an employer sponsored Executive Membership, Citi declined me for the card because of some late payments on a CitiBank CC from at least 2 decades ago. I was declined after a hard pull score of 768. Meanwhile they keep sending me preapproved offers for other Citi cards which I immediately put thru the shredder. Costco Citi card is definitely not like the former Costco Amex card that all members were guaranteed an approval for at least $500 SL.

Message 5 of 16
citymunky
Established Contributor

Re: Costco Citi Visa


@CreditCobra wrote:

 

The biggest drawback of the Citi Costco Visa for me is that you can only cash out your cash back once a year.


That is a terrible reward redemption system.

Rebuilding since 2021


Closed CCs
USAA (Jul 2019| Settled CO), Jasper $1 CL (Jul21-Jul22), Sable $250CL{Secured} (Jan22-Jun23), CreditOne Platinum $750CL (Jul21-Aug23), Prosper $1.9K CL (Jan22-Apr24)

Starting FICO 8 Scores:
Current FICO 8 Scores:


Message 6 of 16
Jeffster1
Valued Contributor

Re: Costco Citi Visa


@GreatLife wrote:

My spouse is a long time Costco employee and even with an employer sponsored Executive Membership, Citi declined me for the card because of some late payments on a CitiBank CC from at least 2 decades ago. I was declined after a hard pull score of 768. Meanwhile they keep sending me preapproved offers for other Citi cards which I immediately put thru the shredder. Costco Citi card is definitely not like the former Costco Amex card that all members were guaranteed an approval for at least $500 SL.


@GreatLife  I LOVED my Costco Amex. 

FICO 8 (3/1/24) EX 805 EQ 824 TU 844

Current lineup as of 9/23
American Express Gold | American Express Blue Cash Everyday 11K | American Express Blue Cash Preferred 10K I American Express Marriott Bonvoy Bevy 5K I American Express Hilton Honors Surpass 3K I Bank of America Customized Cash Rewards Visa 20K | Kinecta MyPerks Rewards MC 35K | TD Bank Double Up Visa 4K | USBank Platinum Visa 5K | BMO Harris Cash Back MasterCard 12K | Capital One SavorOne MC 3K | Capital One Walmart MC 2K | NFCU Amex 20K | NFCU CashRewards Visa 20K I Citi Best Buy Visa 10K I Macy’s Amex 6.5K I Bread Financial American Express 8K l AAA Daily Advantage Visa Signature 6K I Wells Fargo BILT World Elite MC 30K I BCU Cash Rewards Visa 8K I Chevron Techron Advantage Visa 2.5K I JCPenney Mastercard $6K I UCLA Wescom CU Rewards Visa 7K I
Message 7 of 16
Jeffster1
Valued Contributor

Re: Costco Citi Visa

@CreditCobra I agree with you and @citymunky. That redemption limited to once annually is a real negative. I'm rethinking what I said earlier about wanting this card at some point. 

FICO 8 (3/1/24) EX 805 EQ 824 TU 844

Current lineup as of 9/23
American Express Gold | American Express Blue Cash Everyday 11K | American Express Blue Cash Preferred 10K I American Express Marriott Bonvoy Bevy 5K I American Express Hilton Honors Surpass 3K I Bank of America Customized Cash Rewards Visa 20K | Kinecta MyPerks Rewards MC 35K | TD Bank Double Up Visa 4K | USBank Platinum Visa 5K | BMO Harris Cash Back MasterCard 12K | Capital One SavorOne MC 3K | Capital One Walmart MC 2K | NFCU Amex 20K | NFCU CashRewards Visa 20K I Citi Best Buy Visa 10K I Macy’s Amex 6.5K I Bread Financial American Express 8K l AAA Daily Advantage Visa Signature 6K I Wells Fargo BILT World Elite MC 30K I BCU Cash Rewards Visa 8K I Chevron Techron Advantage Visa 2.5K I JCPenney Mastercard $6K I UCLA Wescom CU Rewards Visa 7K I
Message 8 of 16
blkroyalT
Established Member

Re: Costco Citi Visa


@CreditCobra wrote:

For what it's worth, I have this card and it's one of my least used cards. I purchase a lot of items as Costco, and I buy gas there pretty much exclusively.

 

For gas I use my Abound Visa Platinum Credit Card for 5% cash back. In the warehouse, I use my Venmo Visa for 3% cash back. This combo outperforms the Citi Costco Visa in a couple ways, it's 1% more cash back in both those categories, and both cards have no spending cap. Furthermore, the Abound card posts an automatic statement credit for the month when the statement cuts. The Venmo card allows you to redeem your rewards monthly when the statement cuts. You can direct deposit, or statement credit from there.

 

The Abound card will likely only give you a $2,000 credit line (unless you live in Kentucky - which I don't).

 

The biggest drawback of the Citi Costco Visa for me is that you can only cash out your cash back once a year.


Thanks for the info!!!! That really helps....I appreciate it!!
And if at first you don’t succeed, you can dust it off and try again

temp-Images-AMizotemp-Imageltbxw-Ntemp-Imagec-ASE0-Atemp-Imagej-VVIgltemp-Image-Gfmx-NJtemp-Image-Hxjf0-Qtemp-Image-N2-Zi-NUtemp-Image-N2-Zi-NUtemp-Imagexs-Ij-XYtemp-Imagezkm-Aq-Ktemp-Imagecd-GSZF
Message 9 of 16
Guyatthebeach
Valued Contributor

Re: Costco Citi Visa

@blkroyalT ,

 

I approved from my Costco Visa after the five year mark of my chapter 7 discharge.  I only use for my Costco purchases and when I buy gas at Costco. 

 

Guyatthebeach

Message 10 of 16
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