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Costco Citi Credit Conundrum.

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Anonymous
Not applicable

Costco Citi Credit Conundrum.

So, I thought I was done applying for credit cards for a while. Last month, I got approved for a Chase Freedom Unlimited, and a Discover it card. I was happy with these. I even got rid of my credit one account and upgraded my cap1 platinum to a cap1 quicksilver. My plan was to garden until 6-8 months after I got an auto loan. Then yesterday happened. I live in a rural area, my nearest Costco is 70 miles away, so we decided to take a trip yesterday and sign up for a costco membership, and do some bulk grocery shopping. Now, I don't even bring my debit card on these trips, I got burned once and just prefer using the debit card as more of an atm card for cash, and paying a few bills. So we went and got a membership, got the talk about thier citi card, and I wanted it but I thought better of doing that. I was gardening, I didnt NEED it. We cruised through and bought 500 worth of groceries, and get to the checkstand. They only take visa. Normally this wouldn't be an issue, but I've been using my chase card like an animal, and right before we left I paid it all off before the statement cut, and the "Funds" hadn't hit the account yet, which meant I had "No money to spend" on it. I have a discover card, and a cap1 mastercard..only one visa.  Here I am with 2 carts of groceries, a crabby 2 year old, a wife who wants lunch, and no way to pay for these groceries. I had money, just not accessible money at this store. So I had to go apply for thier card. My credit has been out of whack for a few years, I honestly didn't think I was going to get approved, let alone for the credit line, or the percentage, or the perks that I was approved for. I walked out of that store with not only 500 worth of groceries, but also a new card that beats out all of my cards in apr (13%) and with a $2000 CL. I took a hard inquiry hit which sucks, but I also have 4 GREAT cards now, and one that we can use specifically for our monthly Costco trip. This is a loss for gardening, but a pretty big win for credit approval for a guy that would get denied for a 200 dollar credit card from a credit union just a year ago..

Message 1 of 7
6 REPLIES 6
gdale6
Moderator Emeritus

Re: Costco Citi Credit Conundrum.

Enjoy the new card Smiley Happy
Message 2 of 7
Meanmchine
Super Contributor

Re: Costco Citi Credit Conundrum.

My closest Costco is only 5 miles away. But Sams Club is only 3 miles so I shop there

Maybe I should visit Costco next time I get their free 90 day membership card in the mail

 

Congrats OP

>3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>5/2023 All 3 reports 840ish (F8) F9s = 850 but my app finger is still twitching
Message 3 of 7
Anonymous
Not applicable

Re: Costco Citi Credit Conundrum.

Honestly, after price comparison, Costco is cheaper on a lot of things, especially thier kirkland brand which in my opinion is leaps and bounds better than the sams club "Great value, or members mark" stuff. The atmosphere is more warm and inviting, and people there aren't savages. I much prefer taking a trip 70 miles once a month than going to the sams club 9 blocks away. 

Message 4 of 7
Anonymous
Not applicable

Re: Costco Citi Credit Conundrum.

Congrats on the card and the progress made on your rebuild.  I know the anxious feeling of applying for a CC or loan well as I have been rebuilding for some time now.  The Costco card is actually pretty decent and will open the door to CIti which has a pretty decent American Airlines card that eliminates baggage fees and gives you priority boarding in addition to 50,000 miles.  I got the Costco card at 2k in October of last year and then was approved for the AA card at 7k in February.   In 6 months you will be eligible for a SP CLI.  Also without a ton of shopping your card will offset your Costco membership fees.

Message 5 of 7
Anonymous
Not applicable

Re: Costco Citi Credit Conundrum.

Thanks for the heads up! I don't fly often enough for that card to be useful. I wish they had cards for rewards on gas stations! haha. We take trips often, and I will soon be the proud owner of a pickup. 5% cash back on gas everywhere would be a wonderful thing. I have always thought about getting a cabelas card, but now that I am the Computer engineer for a large outdoor retail company, I just go into one of our stores and get everything for cost..haha

Message 6 of 7
grillandwinemaster
Valued Contributor

Re: Costco Citi Credit Conundrum.


@Anonymous wrote:

I wish they had cards for rewards on gas stations! haha. We take trips often, and I will soon be the proud owner of a pickup. 5% cash back on gas everywhere would be a wonderful thing. 


Your Costco Card gives you 4% back on gas everywhere. If that's not enough, Fort Knox FCU gives you 5% back on gas everywhere. 


Current Scores 3/2016 Equifax 676 Transunion 697 Experian 648 Goal Scores: 720's accross the board. Gardening Goal: 3/2017
Message 7 of 7
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