What Are My Chance For A Costco Card?

[Anonymous]

Hello.

I would like to know my chances of being approved for a Costco card with my credit profile are. The details are below: 

EQ: 664 

TU: 694 

EX: 687 

Those are the standard FICO 8 scores. As far as bankscores goes, I am not sure because my bankscores hasn't updated for this month. It was lower last month because my secured CC just reported its first balance and I just recently almost PIF but left around 1% to maximize the score. 

My AAoA is around 7 months, the oldest being an Auto Loan (TD Auto) and the newest one is Discover IT Secured (opened around October). The scores are a little bit towards the lower end because I suffered some inquiries when I was shopping for an auto loan and some of them weren't coded properly (sigh..). 

Never late payments or anything. Annual Income is around 51k (just me) and from my husband is around 103k ish. 

What are my chances? Will these inquiries hurt me? Should I apply in store for better chances? 

Guidance please! Thanks so much  

[Anonymous]

The place you apply won't make a difference because ultimately the bank makes a determination on your ability to pay and risk assessment independant of this. The two things that stick out to me is your low AAoA. I think it depends on the issuer, but I would say you will probably be approved, but expect a low SL.

[kdm31091]

I would echo the above. If approved (I think it's borderline, as it seems they are fairly tight with underwriting on the Costco), you will probably be looking at a low starting limit.

The place you apply won't matter. Applying in store vs online makes no difference in underwriting.

[CreditCuriosity]

Low AAoA is going to hurt you and scores are borderline.... Could go either way, but if I were you I would hold off till AAoA is a year and possibly get scores up by another 15-20 points.

Most likely they will double pull EQ/Exp so TU score you can take that out of the mix which is your highest

Why are you scores so low if you have 1% utilization?  There has to be something else going on.. Don't get me wrong they aren't bad like someone with very recent say Charge-off or late pay, but something else is going on with your scores it appears.  Doubt inquiries killed your scores that much unless you have a very thing profile like two cards then a new account being the secured card could of killed them along with inquiries I suppose.

As echoed I say wait 6 months and your scores should be alot higher and chances increase greatly

[xaximus]

The impact of inqs usually lessens over the course of 6 months. You should be gaining points back every month since the time you received them. The difference between your EQ and EX/TU is 30 points +/-. Do have any baddies or lates?

[Anonymous]

I also suggest waiting. I got mine for $4000 with those scores, but I have a AAOA at 9.5 years (now. Got card it May which brought it down a bit) My drop was from one old collection and three 30 day lates over a year ago. With your AAOA being so low, I am not sure you will make it. You should also look at why your scores are so low as already mentioned and see what you can clean up on your report or at least see how long it will be before whatever is dragging it falls off.

[CreditInspired]

OP
Are these your only cards?

[Anonymous]

I concur with advices above. I applied for my husband yesterday and he has no credit history execpt being an AU of my cards. I believe they are looking for longer credit history so if you can, I'd say wait as well. Good luck OP. Let us know what you decide on to do.
Happy New Year everyone!