garykung

Since your card will be transferred to Citi, your CB will be transferred at the same time as well.

freeflyin

I spoke to Amex today about the Costco Amex. I was told that you can convert to Blue Cash Everyday as a pre-approved offer with no hard inquiry. The age and credit history would remain intact,but the credit line could change,based on current score and Amex history only.

I was also told that the Amex will be closed if it's not changed to a different Amex product and it would be up to Citi to offer the Visa to Costco customers.

As always, YMMV-who knows if the Amex reps are being given accurate information.

takeshi74

From an AAoA perspective there won't be much immediate impact. Primary impact would be due to how it changes your revolving utilization. Your AAoA would be reduced ~10 years later when the closed account drops off your reports.

garykung

Yes, it is true. The only change that I have is the APR. The APR of my TrueEarning card is way below as advertised.

Does not seem this is the case.

TrueEarning is not a changeable product per my experience. If AMEX is allowed to retain all TrueEarning cardmembers, an automatic conversion (TrueEarning>BCE) is definitely more efficient than giving out (truly) preapproved offers. At the same time, AMEX has extended double credit to those accepted the preapproved offer, which is relatively a risky move. All these indicate to me that Citi bought the accounts as well.

But I won't argue that it will be up to Citi to issue a new card.

kulflyer

How do they get your current score without a hard inquiry?

gsxsilver

its my understanding that soft pulls also give a numeric score.

takeshi74

Why do you think a hard pull is required?

The EX FICO 8 that AmEx provides monthly does not require a hard pull.
My TU FICO 8's from Discover and Barclaycard do not require a hard pull.
My EQ FICO NG2 from PenFed does not require a hard pull.
My EX FICO 8 Bankcard from FNBO does not require a hard pull.

texasguy77

Called Amex to convert my TE card to BCE...was told not possible. I would need to apply for BCE with a credit check. They did offer me to upgrade my Hilton fee free card to Surpass and transfer credit limit from TE card. Hmmm!! I'll sleep on that for now.

kulflyer

Those are values pulled for your use. Consumers can pull as many as they like (whether paid for or via a benefit) without it being marked as a hard pull. I ask how creditors can get that without a hard pull. If there are provisions that creditors can do that without a hard pull then fine but if that's the case, why is a hard pull even necessary for any credit application in the first place?

KRSW

Simple -- hard pulls are for THEIR benefit and the benefit of other lenders. When they do a hard pull it lets everyone know you're sniffing around for more credit. A few here or there isn't any concern to anyone. BUT if you suddenly have a bunch of new hard pulls over a short period of time, especially if you're getting close to your credit limits, you might be sinking in debt and the lenders can decide if they're willing to take you on and under what terms they'd do so.

Unfortunately the system's not perfect. ie: hard pulls from Comcast show up just like ones from Chase do. If I was making lending decisions, the utility pulls don't concern me anywhere near as much as from actual lenders, but the credit scores don't take this into account. Now, many banks have their own special sauce and may weight these differently.

I routinely see soft pulls from the banks I have established relationships with on my credit reports.

holocker

One thing to consider is the extended warranty protection. If I buy a computer now with this card, but don't have the card during the extended warranty time period is the warranty still valid?

I usually buy my laptops at Costco as with their extra year and the American Express extension for another year, I have a warranty for 3 years and that is usually about how long my laptop lasts till I replace it. I have found American Express much easier to deal with on extended warranty issues than buying a warranty through a store.

garykung

No per T&Cs.

It seems that Citi will offer some kind of extended warranty. The main issue is if Citi will include a grandfather provision or not.

I checked the Canadian case. Cap 1 does not seem to grandfather any prior purchase from the AMEX Costco card. However, I am also not sure if Cap 1 did buy all the AMEX Costco accounts as well.

Do you have another AMEX card? If so, use that one.

crimsona

Extended warranty typically extends the manufacturer's warranty, but Costco's second year is not from the manufacturer.

Troopers

June.

http://www.usatoday.com/story/money/...bank/81101748/

krazykanuck

https://customerservice.costco.com/s...nd-Credit-Card

June 20 is D-Day.