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Question By
purefusion

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If I apply for a Citi secured card, will my chances for getting approved for a Costco card increase?

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Remember when opening a new line of credit will always drop your score. Once you make the payments you will go back or above where you started. thus you're eligible for better opportunitys. 

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You don't have to get a Costco credit card since Costco now accepts Visa cards, and that covers a LOT of cards.

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purefusion

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True, but Costco's new "Anywhere Visa Card by Citi" has certain benefits that other cards don't offer. 

Reply by
LahtiDahti

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The "certain benefits other cards don't offer" really depends on what your planning on doing with the points. If your ok with the cash back being locked up until your Annual Feb statement, the gas and restaurant rewards are pretty good. there are other cards that are more flexible and offer similar if not better rewards depending on what you redeeming them for.

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No. simply having a secured credit will not help you be approved for a Costco CC. Making payments on time will improve your credit score, improving your chances that way. But that takes time.

Whether or not you are approved for Costco CC, will based on your credit report at the time of applying.

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Increase over time... I know it won't help immediately.

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With requesting a credit limit increase, usually they just ask your yearly income.. assuming you already have the Costco card. Waiting 6 months between requests/when you opened the card is the minimuml.

The two factors you've described are mutually exclusive.

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