Costco & Am Ex are splitting up - Page 3

shoekitty · ‎03-10-2010

I am not totally clear on this matter. Amex is the only card we use besides our bank card. Does this mean Amex will no longer be welcome at Costco, or it will just not be the only card Costco takes?

“sometimes you have to bite your upper lip and put sunglasses on”….Bob Dylan

shoekitty · ‎03-10-2010

On 2/12/2015 NoelSeven said:
I'm not getting your link to work. Does this mean Costco will now accept other credit cards? I hope so, I got the AmEx when they began their partnership and had nothing but trouble with it so I stopped using it.

If this means other CCs, I'm thrilled. We get great points from an Amazon card.

noel

Does this work?

http://www.cbsnews.com/news/costco-to-no-longer-only-accept-american-express-cards/

“sometimes you have to bite your upper lip and put sunglasses on”….Bob Dylan

JeanLouiseFinch · ‎10-03-2011

On 2/13/2015 shoekitty said:
On 2/12/2015 NoelSeven said:
I'm not getting your link to work. Does this mean Costco will now accept other credit cards? I hope so, I got the AmEx when they began their partnership and had nothing but trouble with it so I stopped using it.

If this means other CCs, I'm thrilled. We get great points from an Amazon card.

noel

Does this work?

http://www.cbsnews.com/news/costco-to-no-longer-only-accept-american-express-cards/

Shoppers aren't going to feel this change right away. The dividing of the Costco/AMEX part won't actually take affect until a year from now. So, for the next year the Costco AMEX, non-branded AMEX, Cash, and Debit Card will continue to be the only acceptable forms of payment. From what I gather, this will give the negotiators time to work something out with a new credit card company to offer a branded card with exclusive member benefits. For those who carry the branded card, I would assume that whatever company Costco ends up partnering with, there will be an announcement in advance and members will have an opportunity to get the new card and have time to start using it for a smoother transition rather than abruptly ending the Costco AMEX with nothing to take its place.

http://blogs.wsj.com/moneybeat/2015/02/12/what-the-costco-amex-split-means-for-shoppers/?mod=yahoo_h...

CouponQueen · ‎10-21-2010

On 2/12/2015 millieshops said:
On 2/12/2015 madzonie said: Noel...from what I understand (but I might not have enough info) Costco is going to negotiate for another "exclusive" credit card...to be the one and only to be accepted at Costco. Will have to wait for more details.

I went to Google, too, and it does sound as if Costco's split with AmEx will go into effect in mid-April but they're negotiating for another exclusive deal.

They better hurry - that's not a whole lot of time. Wonder how they'll do the change over? I know my credit accounts are frozen, so they can't just issue me a new card from a company I'm not already affiliated with.

I'll have to look at my Costco account, too. I know my membership flips over sometime in the spring - maybe they will create such a mess, I could drop out for a few months and see if I really need to pay that fee. I already don't go so often that I'm willing to jump through many hoops for them.

They have OVER an ENTIRE year to work out something..it expires March 2016..NEXT YEAR..not this year!

Lucibee · ‎03-19-2010

That's what I thought. March 2016, over a year away. They have to offer Am Ex until the contract expires.

ballyk · ‎03-09-2010

That's really disappointing. We just switched to the higher rebate % card last October after getting over $600 rebate checks last year. When Sam's parted with Discover they automatically sent me their new Mastercard.

Qwackertoo · ‎03-11-2010

On 2/13/2015 Lucibee said: That's what I thought. March 2016, over a year away. They have to offer Am Ex until the contract expires.

Yes. A good ways away. This Feb rebate check AND next Feb's. By then we'll know what will be our card to use in March '16.

I still hold out hopes they work it out.

I was reading an article last night . . . that said the algorithms that AmEX use to detect fraudulent activity or potential fraudulent activity based upon your history, habits, locale exceed the capabilities of the "bank" cards . . . which I took to mean Chase, Citi, BoA, etc.

I've had them, AmEX, have to send me a new card due to their detection of fraudulent activity before the charge "officially" hit my account and I had a new card in my hands in less than 30 hours. Don't recall exact number of hours but I do know it was FAST.

deeva · ‎03-09-2010

On 2/12/2015 madzonie said:
On 2/12/2015 deeva said:
I'll just use another cc when I shop Costco. I never had the Costco branded Am Exp card anyway.

But Costco (at least ours) doesn't currently take any credit card except Am Ex.

I meant after the switch next year. I sometimes use my debit card or write checks at Costco.

Qwackertoo · ‎03-11-2010

I like the AmEX card, so handy. Gets me in the store as it also serves as my membership card and gets me out of the store at the checkouts! And a big fat bonus check every year!

Some days I'll shop and only carry my card inside.

I'm betting they will be BUSY BUSY BUSY in the floral aisle today.

I think it was last year maybe I happened to be shopping there on Valentine's Day and they kept bringing out more & more pallets of roses. I for one would not begrudge my Valentine buying cost conscious roses for me!!! It is the thought that COUNTS.