Does Costco Business Credit Card Do a Hard Inquiry? (2024)

FAQs

Does Costco Business Credit Card Do a Hard Inquiry? ›

Yes, Citi performs a hard inquiry on your credit report when you apply for the Costco Anywhere Visa Card.

The Costco Anywhere Visa® Business Card by Citi is not easy to get for the average person. The is available to business owners and authorized representatives who have Excellent credit, meaning a score of 750+.

Yes, the Costco Anywhere Visa® Business Card by Citi does a hard inquiry on your credit report when you apply. A hard inquiry usually results in a slight decrease in an applicant's credit score, but the effect only lasts for a short period of time.

Chip Lupo, Credit Card Writer

Your Costco Business Credit Card approval odds are good if you are a business owner with a personal credit score of 750+, which is considered at least excellent credit.

Yes, it is hard to get the Costco Credit Card because you need excellent credit to qualify. That means you need a credit score of 750 or higher, in addition to enough income to afford the monthly bill payments, to get approved for the Costco Credit Card.

An excellent credit score (750+) is required to get the Costco Anywhere Business credit card. That's to be expected with rewards like this.

Costco checks applicants' personal (not business) credit by accessing credit reports from one of the three major credit bureaus. Beyond the credit requirements, applicants must be at least 18 years old and have a steady income, a Social Security number, and a Costco membership.

In most cases, it's one of the following: Your credit score is too low. You don't have enough income. You have too much debt relative to your income.

To get approved for the Costco Anywhere Visa® Card by Citi you'll typically need a FICO® score of 800 or higher.

In general, it doesn't offer instant access to credit, but there are exceptions. For example, it's possible to get instant access to the Costco Anywhere Visa® Card by Citi. If you're approved right away, you'll get access to a temporary barcode linked to your account that can only be used for Costco purchases.

What is the advantage of a Costco business card? ›

Business Memberships allow you to purchase products for business, personal, and resale use at any Costco Wholesale location worldwide and online at Costco.com. One additional card is also provided for a member of your household at no additional charge.

You need an excellent credit score of 750 or higher to qualify for the Costco Credit Card. You will also need a Costco membership if you don't already have one and enough income to afford monthly bill payments on the Costco Credit Card.

When you apply for the Citi Costco credit card, all three major credit bureaus (Equifax, Experian, and TransUnion) may be used to review your application. According to reports from cardholders, Citibank tends to use at least two of the three available credit bureaus.

Yes, the Citi Costco will do a hard pull. You will need a credit score of at least 750 to get it and there is no way to get pre-approved. A hard pull usually causes an applicant's credit score to drop by 5-10 points.

No, the Costco Credit Card doesn't have pre-approval. However, you may be pre-selected for an application. Getting pre-selected for a Costco Credit Card indicates that your chances of being approved for an account are high (70%), should you decide to apply.

Minimum $50,000 individual annual income or $80,000 household annual income is required to qualify for the CIBC Costco World Mastercard^®.

You need an excellent credit score of 750 or higher to qualify for the Costco Credit Card. You will also need a Costco membership if you don't already have one and enough income to afford monthly bill payments on the Costco Credit Card.

Bottom line. To get approved for the Costco Anywhere Visa® Card by Citi you'll typically need a FICO® score of 800 or higher. This cash-back card doesn't have an annual fee, but you'll need a Costco membership to apply.

Chip Lupo, Credit Card Writer

The Citi® / AAdvantage Business™ World Elite Mastercard® credit score requirement is 750 or better. That means people with excellent credit have a shot at getting approved for the Citi AAdvantage Business Card.