I have had a Gold card for two years now. Initially I applied for it for the $250 reward, but kept it because AmEx is the only cc you can use at Costco. I almost always buy gas once a week there. We also shop inside, usually once monthly. I earned points that I cashed in for gift cards.
The first year the annual membership fee was waived. The second year I called to cancel the card and was told I could have the fee waived again if I wanted to keep the card. This year I decided I would apply for a different card account - the one specific to Costco and with higher % back rewards.
Well, I was denied! *gasp!*
That really surprised me. I haven't been denied an account anywhere in years. In addition to the fact I have had an excellent record with my Gold account.
So today I dropped to Plan B and called to cancel my Gold account. I was hoping they would offer to waive the $125 annual fee *again* in order to keep me. They didn't.
On a happier note - I did cash out the little bit of points I had for a $25 Cheesecake Factory card and a $10 Bath & Body Works card.
I figure by this time next year I'll be posting about how they have sent me an offer with a bonus reward I can't pass up. (So they've probably done me a favor.)
AmEx Doesn't Like Me Anymore
February 10th, 2014 at 10:58 pm
February 10th, 2014 at 11:05 pm 1392073507
February 10th, 2014 at 11:17 pm 1392074261
February 11th, 2014 at 03:11 am 1392088286
February 11th, 2014 at 05:05 am 1392095128
Proportion of revolving balances to limits too high. (cc debt on 0% cards)
Number of credit card accounts with balances. (some are paid off monthly but they don't know that)
Number of inquiries recently. (Chasing rewards.. I do have two new credit cards. )
Proportion of loan balances to loan amount too high. (Mortgage our only loan.. so whatever)
My FICO is good, could be better, 730s.
I'm not worried. Just slightly aggravated.