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Wife and I just signed up with Costco. She wanted the american express because of the cash back (and the fact that she doesn't have an Amex). She has excellent credit.
She put me down for the additional card. (I hit a bump in the road, and have a BK 5 years ago as a result).
a) Do they pull my credit as well (it DID require my SSN), or just hers?
b) Is this an "authorized user," or a "Joint account?"
I would hate to see her card declined because of my "bump in the road."
Hi
What is a 4506-T again?
Thanks
Thanks!
We both got cards. The limit is about 20% of her highest CC, and is less than we spend monthly. Is it even possible to ask for recon on the limit, or do we need to wait 6mo first? With the rewards, we were considering making this our primary card, but we don't want to exceed 30% of the limit, so we can't reasonably do that (without paying weekly) with this limit.
@jrdenver wrote:Thanks!
We both got cards. The limit is about 20% of her highest CC, and is less than we spend monthly. Is it even possible to ask for recon on the limit, or do we need to wait 6mo first? With the rewards, we were considering making this our primary card, but we don't want to exceed 30% of the limit, so we can't reasonably do that (without paying weekly) with this limit.
I would use it as you want and pay the card as often as needed to keep the utilization below 50% or so. After a couple months of this you can call up and say that you would like this to be your main card but the limit is too low. You might ask if they could match your highest limit card.
@jrdenver wrote:Thanks!
We both got cards. The limit is about 20% of her highest CC, and is less than we spend monthly. Is it even possible to ask for recon on the limit, or do we need to wait 6mo first? With the rewards, we were considering making this our primary card, but we don't want to exceed 30% of the limit, so we can't reasonably do that (without paying weekly) with this limit.
Our first AmEx is the Delta SkyMiles. AmEx started us off with only $2k. We used it. Paid it off. Did it again...a few times each month. You don't need to worry about holding your usage to 30% of the limit if you are going to pay it before the statement cuts. Only worry about a limit of what actually shows on the statement.
We didn't wait 6 mos to ask for a CLI. We waited 4 mos, and then they gave us a 3x CLI to $6k. We're glad we had the patience in the beginning to make it work. You can make it work with just a bit of inconvenience in the beginning.
@Scuba wrote:Hi
What is a 4506-T again?
Thanks
That's the tax return transcript request form. They use it to look at salaries and such.