REVIEW:
I applied for this card and was approved instantly, with a beginning credit line of $10,000. I only used this card for my monthly Costco trips, and would usually pay in full. Things were fine until all of the credit card issuers got skittish.
During my monthly trip to Costco,while making a $925 purchase, my card was declined. Fortunately, I had enough in my bank account, so used my debit card instead. I went home, went online and saw that my CL had been decreased from $12,500 down to a measly $500. I called them, and the rude Indian CSR said I would get a letter in the mail. About a week later, I got the "our risk model shows that customers who shop at such and such establishments tend to default...blah, blah." Uh...guys? This is a Costco branded American Express card. I use it at Costco.
Come to find out, their "risk scoring model" doesn't like it when you shop at certain stores, use the card for groceries and gas, or even co-pays at the doctor. Never mind that they hawk using the card for these things in order to get rewards points. Never a late payment, no negatives on my credit report and they do this because I shopped at Costco? Funny thing is, the cashier told me that this had been happening to A LOT of cardholders.
I still have this card, and since things have calmed down, AMEX so generously put my CL at $7500. No thanks. It is keeping my Chase card company in my sock drawer.
I definitely would not recommend this card to a friend.
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