topic Re: Costco in Community Chat

Costco

Lucibee — Mon, 02 Mar 2015 17:13:52 GMT

Just announced. Costco's new partnership as of April 2016 will be Citi, Visa. Right now their partner as you know is American Express.

Re: Costco

croemer — Mon, 02 Mar 2015 17:20:59 GMT

Hi luci, guess that is a good thing for those who charge...we always pay cash.

Re: Costco

Lucibee — Mon, 02 Mar 2015 17:24:53 GMT

Yes cash is always good!

Re: Costco

tansy — Mon, 02 Mar 2015 17:29:51 GMT

I will miss the nice check we get from using the AMX card at Costco (which we pay off each month), but I won't get a CitiCard.

Re: Costco

Blahblahvampemer — Mon, 02 Mar 2015 18:16:59 GMT

I normally pay cash, but this is great news for those times I might want to buy more. Having said that though, I haven't been there in at least four months.

Re: Costco

Blahblahvampemer — Mon, 02 Mar 2015 18:17:48 GMT

On 3/2/2015 tansy said:
I will miss the nice check we get from using the AMX card at Costco (which we pay off each month), but I won't get a CitiCard.

I get points on my Visa so that works out fine when I use it.

Re: Costco

JeanLouiseFinch — Mon, 02 Mar 2015 19:47:32 GMT

I'm waiting to see what kind of benefits will be included for Costco members. If they're the same as what's currently part of the AMEX arrangement, I'll get the Citi Visa. Assuming the bennies will be the same, this could be a good thing. I think Visa is accepted more easily than AMEX sometimes. Merchants don't like the high fees associated with accepting AMEX.

Re: Costco

sgraham30 — Mon, 02 Mar 2015 22:26:48 GMT

Darn, I was hoping they'd go with the Capital One Venture card.

Re: Costco

tansy — Mon, 02 Mar 2015 22:50:53 GMT

On 3/2/2015 blahblahvampemerblah said:
On 3/2/2015 tansy said:
I will miss the nice check we get from using the AMX card at Costco (which we pay off each month), but I won't get a CitiCard.

I get points on my Visa so that works out fine when I use it.

That's fine if your Visa is the Costco card that will be issued from Citibank.

Re: Costco

NoelSeven — Mon, 02 Mar 2015 22:59:49 GMT

On 3/2/2015 tansy said:
On 3/2/2015 blahblahvampemerblah said:
On 3/2/2015 tansy said:
I will miss the nice check we get from using the AMX card at Costco (which we pay off each month), but I won't get a CitiCard.

I get points on my Visa so that works out fine when I use it.

That's fine if your Visa is the Costco card that will be issued from Citibank.

There was a comma between Citi and Visa. I wonder if that means not just one Visa?

Re: Costco

melfie — Mon, 02 Mar 2015 23:09:59 GMT

Will they accept Visa from any financial institution or only Citi? I don't have a Visa but I rarely go to Costco.

Re: Costco

OnlyShopsOnline — Mon, 02 Mar 2015 23:31:53 GMT

Not crazy about Citi. My husband has a travel account with them, through work. They have a horrible website and lousy customer service.

But, if they have the same deal as Costco now has with Amex, I'm on board. If you have an Executive Membership through Costco, which is $110, you earn rewards from Amex and Costco. We don't shop that much at Costco, and still earn enough in rewards, that we haven't paid for our membership in years. Some years, we even get extra cash back.

Re: Costco

Blahblahvampemer — Tue, 03 Mar 2015 03:26:10 GMT

On 3/2/2015 tansy said:
On 3/2/2015 blahblahvampemerblah said:
On 3/2/2015 tansy said:
I will miss the nice check we get from using the AMX card at Costco (which we pay off each month), but I won't get a CitiCard.

I get points on my Visa so that works out fine when I use it.

That's fine if your Visa is the Costco card that will be issued from Citibank.

No, I get great bennies from my regular Visa.

Re: Costco

Blahblahvampemer — Tue, 03 Mar 2015 03:28:06 GMT

On 3/2/2015 melfie said:
Will they accept Visa from any financial institution or only Citi? I don't have a Visa but I rarely go to Costco.

I heard they'll take all Visa cards, but of course they want you to use theirs. I'm down to spending less at Costco so the fancier membership/card would be worthless to me.

Re: Costco

tansy — Tue, 03 Mar 2015 03:31:57 GMT

On 3/2/2015 NoelSeven said:
On 3/2/2015 tansy said:
On 3/2/2015 blahblahvampemerblah said:
On 3/2/2015 tansy said:
I will miss the nice check we get from using the AMX card at Costco (which we pay off each month), but I won't get a CitiCard.

I get points on my Visa so that works out fine when I use it.

That's fine if your Visa is the Costco card that will be issued from Citibank.

There was a comma between Citi and Visa. I wonder if that means not just one Visa?

I'm assuming Citibank will issue a specific Visa card to be used at Costco and elsewhere and that it will have rewards similar to the present AMX card but Costco will only accept that Visa card. I do not like Citibank so I'm not sure what I'll do.

Re: Costco

september — Tue, 03 Mar 2015 03:46:00 GMT

At this time, we can use our Costco issued AMex card, or any AMex card. So I'd assume that in the future, any Visa card can be used.

Re: Costco

madzonie — Tue, 03 Mar 2015 05:51:44 GMT

I ALWAYS charge my purchases at Costco, and I ALWAYS pay the bill IN FULL each month. That way I accumulate CASH rebates!

Re: Costco

tansy — Tue, 03 Mar 2015 06:17:18 GMT

On 3/2/2015 september said: At this time, we can use our Costco issued AMex card, or any AMex card. So I'd assume that in the future, any Visa card can be used.

It's a deal that Citibank and Costco hammered out for their mutual benefit. My AMX card is also my Costco membership card.

Re: Costco

september — Tue, 03 Mar 2015 06:42:55 GMT

From dailyfinance.com:

"The deal means that Visa will be the only credit cards accepted at Costco stores. Currently Costco accepts only American Express credit cards, though it takes debit cards from other companies including Visa and Mastercard (MA)."

I read this as saying that any Visa card will be accepted, just as any American Express card is now accepted. I actually use my Macy's American Express at Costco. You don't have to use the Costco one.

Re: Costco

tansy — Tue, 03 Mar 2015 07:05:08 GMT

Hmmm...I was reading an article from the LA Times that stated Citibank is the exclusive issuer of the Costco card but further down in the article it implies any Visa card. If that's the case i already have a good Visa card with cash back