Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!


Posted in Credit Scores
Profile Image

Question By

0 Contributions
0 People Helped
How will credit rating agencies react to cancellation of joint Costco/American Express credit cards used by many Costco members? Will credit score be affected?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

All Responses

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
125 Contributions
133 People Helped
Most Helpful Response

Helpful to 2 out of 3 people

I received an email from AmEx about this issue.   Basically, they will be transitioning everyone over to a new AmEx card.  They want to keep your business obviously.   A new card shouldn't effect your Average Age of Accounts either.  All should remain the same, with the exception of possibly signing up for the new Costco branded Visa...

Reply by

7 Contributions
64 People Helped

I did not get any email from amex. I have costco true earnings for 5 years now. When I called amex, they have told me following

1) we are not transitioning your card to a new card.

2) I have to apply for new card so it will be a new account and new card. Likely credit limit remain same.

That brings down the average age of my credit lines... :(


2 Contributions
1 Person Helped

Amex really doesn't want me

Costco AMEX card to be cancelled.  Instead of just issuing a new card, AMEX invited me to "apply" for a new car.  This is just plain nuts when I have a 15 year perfect history with them, a $29000 credit limit, and A+++ credit rating.  Not going to do it

1 Contribution
0 People Helped

AE True Earnings Card Clarification

I received a letter today (3/31/16) from AE stating that "As we announced last year, American Express' co-brand card relationship with Costco is ending. As a result, your American Express Card Membership will terminate and your True Earnings Business Card with be replaced with a credit card from Citibank, N.A. ("Citibank"). We expect that this will take place in June 2016 ("Replacement Date"). Citibank will communicate the exact Replacement Date in a subsequent notice. The Citibank Costco credit card will not be an American Express Card. Up to the Replacement Date, continue to use your True Earnings Business Card for purchases at Costco and other American Express accepting merchants."

"In the next few weeks, you will receive additional communications from Citibank, the issuer of the replacement card, which will provide details about the new Citibank credit card below...."

My question: How does this affect our credit? The credit agencies will show a cancellation of AE and a new credit card with Citibank. Also, I have another AE card I've had for over 20 years. That fee just went up to $175.00/annually, but I didn't want to cancel the card as it definitely affects your credit. Just wondering how I can get around this???

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.


Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.