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Questions about Costco and Amex

Discussion in 'BBS Hangout' started by BigSherv, Apr 3, 2009.

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  1. BigSherv

    BigSherv Member

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    I am going to get an Amex card because I am sick of using my debit card there.

    They offer one with cash back and no fees. My wife and I like the cash back option since we don't collect miles or points. Is this the best Amex for us. A lot of my friends have the Blue Amex and love it. Anyone have an opinion?
     
  2. chow_yun_fat

    chow_yun_fat Member

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    I'm with Blue and have zero complaints. I think I've had that credit card since 2000 and haven't used it in the last five or six years. I heard it was good to keep credit cards with high credit limit regardless if you use it or not to boost your credit score??

    *limit, not balance. stupid me.
     
    #2 chow_yun_fat, Apr 3, 2009
    Last edited: Apr 3, 2009
  3. ScriboErgoSum

    ScriboErgoSum Member
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    It completely depends on how much a year you spend there. You already get 1.5% back with the Blue card once you spend $6500 in a year .5% until that point), and you get 5% back on groceries, gasoline, and at pharmacies.

    I crunched the numbers for us, and the Blue card made a lot more sense. But we also don't buy that much at Costco.

    The only downside to an AMEX card is that a lot of places don't take them. We have a second Mastercard to use for those instances.

    Just make sure you pay on time or you forfeit your cash bonus. But if you use your credit wisely, you can definitely reap some rewards.
     
  4. s land balla

    s land balla Member

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    I use the Amex Starwood Card
     
  5. DonnyMost

    DonnyMost Member
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    I have the amex costco card.

    Love it.
     
  6. Lil Pun

    Lil Pun Member

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    Yes, it is good to keep credit cards with high limits and long lifespans but only if you carry 10% of your balance or less most of the time. That means if you have 2 credit cards with a combined $15,000 limit you don't want to carry a balance of more than $1500.
     
  7. BigSherv

    BigSherv Member

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    I only intend to use it at Costco since I have Chase Visa that gets me 5% back on gas, groceries and drug stores and 1% everywhere else.

    I just feel like I am missing out on on free money buy not having a CC to use at Costco. We spend about 200 bucks there a month.

    Since it is not my primary card i think I Should go with the Costco one since there is no threshold to get the 2% back.


     

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