CostCo USA dropping Amex for Citigroup VISA

[JM Aggie08]

I'm truly surprised at the anxiety levels over this. Do you guys think that Costco is going to leave you high and dry taking the chance that they'll lose memberships over it?

My Costco AmEx is how I gain entry to Costco. The CO card will replace that card. It will give comparable if not better benefits. CO is no stranger to reward cards we have one now that accumulates dollars off towards GM car purchases and leases.

Now, maybe I'm out of the loop and am not aware that Costco accepts any variety of AmEx. If that's the case, then yes, there is reason for concern.

They accept all forms of Amex.

 

[zinfamous]

welp, now I don't feel so bad about letting the CostCO membership lapse last year.

I'll never have a capitol one card. never.

 

[zinfamous]

I'm truly surprised at the anxiety levels over this. Do you guys think that Costco is going to leave you high and dry taking the chance that they'll lose memberships over it?

My Costco AmEx is how I gain entry to Costco. The CO card will replace that card. It will give comparable if not better benefits. CO is no stranger to reward cards we have one now that accumulates dollars off towards GM car purchases and leases.

Now, maybe I'm out of the loop and am not aware that Costco accepts any variety of AmEx. If that's the case, then yes, there is reason for concern.

as others have said, they have always accepted all AMEX cards. I never actually owned the Costco one.

 

[Genx87]

I used to have a Delta Amex for Costco. But dropped it at the end of the first year to avoid the 99 dollar fee. Anyways I use checks or cash at Costco. I primarily use Discover and a Visa card as backup.

 

[SunnyD]

This reminds me... the ONLY card I don't have in my stable is any sort of mastercard. What are the 'good' mastercards currently to apply for?

 

[AznAnarchy99]

Sucks. Just got $500 cash back from my Amex CostCo this year.

 

[CrimsonWolf]

Well, that sucks.

Amusingly enough, my only MasterCard is my Sam's Club card. I could pay at Costco with that...

 

[Insomniator]

Don't care, I have a Costco Amex now and if the Mastercard benefits are the same I'll move on to that one.

Its really not that big of a deal...

 

[AznAnarchy99]

Don't care, I have a Costco Amex now and if the Mastercard benefits are the same I'll move on to that one.

Its really not that big of a deal...

Amex service and protection is better than all of the rest. Broke my iPhone within 2 weeks of having it. They paid for a brand new one. Just had to send a receipt.

 

[OBLAMA2009]

man theyve changed cards a lot and its always exclusive. didnt they used to be discover before amex

 

[AznAnarchy99]

man theyve changed cards a lot and its always exclusive. didnt they used to be discover before amex

Changed a lot? It's been 16 years since they last changed.

 

[Xonim]

Don't really care all that much, though I'll miss racking up the Starpoints by using my SPG AmEx there. Hopefully whoever takes over follows the same kind of deal where ANY Visa/Mastercard is accepted and not just the co-branded one.

 

[dave_the_nerd]

Changed a lot? It's been 16 years since they last changed.

16 years is but an eyeblink to an immortal.

 

[dawheat]

This reminds me... the ONLY card I don't have in my stable is any sort of mastercard. What are the 'good' mastercards currently to apply for?

I'm a current fan of the Barclays Arrival card (2.2% effective cash back as long as you have travel related expenses) or Citi Double Cash.

 

[lupi]

Yeah got about $500 back this year, mostly by paying as many bills and such with it. Will need to get a new card by next year as I don't have any other cash back ones.

 

[AznAnarchy99]

Yeah got about $500 back this year, mostly by paying as many bills and such with it. Will need to get a new card by next year as I don't have any other cash back ones.

I booked rooms/flights for our group trips and people would just pay me back in cash. All of that 2% CBs added up big for me.

Apparently our CostCo/Amex cards will no longer work and Amex will offer a new card as well as CostCo.

Two new cards :thumbsdown:

 

[boomerang]

Sucks. Just got $500 cash back from my Amex CostCo this year.

I'm pretty certain they'll cut that same deal with CO. It's a selling point for memberships and they used it as leverage to talk us into an Executive Membership when we bought some furniture.

 

[Mermaidman]

Fidelity AmEx, 2%, no annual fee

 

[nickbits]

This reminds me... the ONLY card I don't have in my stable is any sort of mastercard. What are the 'good' mastercards currently to apply for?

The only MC I have left is my BoA Cash Rewards card. It's OK...

 

[nickbits]

Why does everyone assume they are going to CO/MC just because they did that in Canada? I think it's just as likely they have a different US partner in mind or none at all.

 

[AznAnarchy99]

Why does everyone assume they are going to CO/MC just because they did that in Canada? I think it's just as likely they have a different US partner in mind or none at all.

Who knows until they announce something. Is it possible for Amex and Costco to make amends before next year?

 

[Childs]

I wonder what AMEX will transition their Costco AMEX cards to. I actually use it quite a bit because of the rewards, and in general AMEX has excellent fraud protection. Mobile app is pretty good too. It just better not have an annual fee.

 

[AznAnarchy99]

I wonder what AMEX will transition their Costco AMEX cards to. I actually use it quite a bit because of the rewards, and in general AMEX has excellent fraud protection. Mobile app is pretty good too. It just better not have an annual fee.

I'll take a Platinum card with no annual fee please.

 

[allisolm]

"We were unable to reach terms that would have made economic sense for our company and shareholders," American Express CEO Kenneth Chenault said in a statement.

Hard to imagine terms that would have made less economic sense than
1. loss of 8 pct ($80 billion) of of the worldwide annual spending on its card
2. hit to earnings for the next 2 years
3. shares down as much as 7 percent
4. loss of bout $6 billion of market value

 

[notposting]

There could still be enough public bitching and moaning for both companies to decide the status quo of making money hand over fist was actually pretty good after all.