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Third Time a Charm

February 22nd, 2015 at 04:53 pm

Friday I applied for the Costco AmEx card again.
(You all may recall I have applied for this card twice before and been rejected - not because of bad credit either.)
It has been almost a year since I last applied.

When I didn't get this card last year I got the WF Propel AmEx. That worked out great because it had a big bonus. Smile
But, the Propel card has an annual fee and I will need to cancel it soon.

This year I was approved for the Costco AmEx!
(Hence the "Third Time a Charm" title.) I think I was approved this time because the Southwest card I just closed had such a large credit line that it made the credit:debt ratio much "better" looking.

This card has no annual fee and 3% back on gas, 2% on travel & restaurants, 1% on all else.
I like having an AmEx to use at Costco since that is the only CC they accept... for now.
I read they are going to take other cards in the near future. Having this card might be a moot point there, but 3% on gas purchases is nice.

3 Responses to “Third Time a Charm”

  1. PauletteGoddard Says:

    How long have you been a Costco member?
    I've been denied a credit card on several occasions, Chevron denied me a gas card twice, the deepest hurt being turned down for the Austin Powers psychedelic swirl Yahoo! credit card, thought of applying but considered maybe my income would be a barrier. What made the difference in the acceptance of your Costco Amex application? I may apply for one if the stars align for me.

  2. Looking Forward Says:

    That's the thing I don't know what was different! We actually have MORE debt now due to the HELOC. My best guess is that the credit:debt ratio "looked" better because the Southwest card had a large credit limit with a $0 balance. (Just closed that card.)

  3. FrugalTexan75 Says:

    Maybe it was the type of debt?

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