AMEX Offer For Jet Blue

[Anonymous]

So, AMEX e-mails me and tells me to push the "I Accept" button for a Jet Blue card.  I don't fly Jet Blue. Never have.  I call and speak with a rep and tell her I'd rather have the COSTCO True Earnings card and that I already have Blue.  She says she'll take my application over the phone and she's sure AMEX will approve me, but then COSTCO will have to approve me.  If they do, I should get a letter (not the card, mind you) from them in 2 to 3 weeks. What the????

I suppose since it's a co-branded card, COSTCO has to approve me but why can't they co-sign on  AMEX's processing?  Plus, I have been a COSTCO member since 2002.  I'll pull out my hair waiting 3 weeks to find out if they've "decided to approve me".   Hey, 2 or 3 weeks is a long time when most cards take 5 to7 days to arrive in the mail.

I didn't know that when you got a co-branded card both parties had to approve you.  It makes sense, but did anybody else have to wait that long for approval, or is it just the AMEX COSTCO card?

[Creditaddict]

just the amex costco card

[Anonymous]

What does Costco have to approve you for? I don't get it. The card is backed solely by Amex right? So it would be subject to the Amex financial criteria wouldn't it?

[Anonymous]

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FretlessMayhem wrote:
What does Costco have to approve you for? I don't get it. The card is backed solely by Amex right? So it would be subject to the Amex financial criteria wouldn't it?

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Length of time as a Costco member and high annual spending at Costco go a long way towards approval for this card.  Amex probably has to get that data from Costco before they can finalize their decision.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
What does Costco have to approve you for? I don't get it. The card is backed solely by Amex right? So it would be subject to the Amex financial criteria wouldn't it?

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Length of time as a Costco member and high annual spending at Costco go a long way towards approval for this card.  Amex probably has to get that data from Costco before they can finalize their decision.

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What I don't get is why Costco has any say in it.

[Anonymous]

Fretless, that's my question.  I didn't app after I was told that.  Since AMEX pulls a "soft", does COSTCO pull, also?

[Creditaddict]

I don't think costco actually has any say in the application at, amex is simply verify' you are a member and how much you spend probably to help make sure you have enough cl to do your normal shopping.

[haulingthescoreup]

My guess is that Costco isn't actually approving; they're just verifying length of membership and so on that cheddar mentioned. Probably the longer you're with them and the more you shop there, the better the deal you'll get on the card.

Costco is backed up because someone in my town started an online petition begging them to build a store here, lol. Sorry to have tied up your app!


edit to add: creditaddict, you beat me to it!

Message Edited by haulingthescoreup on 07-17-2008 01:22 PM

[Anonymous]

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MsQueenB wrote:

Fretless, that's my question.  I didn't app after I was told that.  Since AMEX pulls a "soft", does COSTCO pull, also?

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Amex doesn't pull a soft.  If you're applying for a new account, they will pull a hard.

Costco probably won't pull at all, and likely has nothing to do with the credit decision.  They likely only need to verify your membership and level of annual spending, which will help Amex make an approval decision and set the terms, as creditaddict and hauling mentioned above.

Message Edited by cheddar on 07-17-2008 01:29 PM

[Anonymous]

hauling, if that's the case, I haven't spent much at COSTCO this year at all!    In the past, I've spent thousands and thousands of dollars in that place.  It's dangerous to shop there because you alwyas get more than what you came in for. My only gripe is that it's always so darned crowded!