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Mosby

(19,491 posts)

36. Costco switched it's exclusive credit cards from Amex to Citi VISA

Mon Mar 2, 2015, 08:18 PM

Mar 2015

They are going to get discounts from Citi just like they used to get from Amex. They will not accept any other credit cards except citi VISA. This puts every other retailer at a disadvantage, which is why it's not fair, especially with small mom and pop retailers.

In case you don't know, VISA runs the ENTIRE debit network in the US, this new contract does not change anything re Visa cards, debit credit or whatever. One can use any debit card at Costco, that's always been the case.

Costco uses the same network all retailers do, and pays interchange rates plus, but in their case they have a special deal worked out with amex and now citi.

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Costco names Citi, Visa as new credit card partners after AmEx deal ends [View all] Omaha Steve Mar 2015 OP

Bought a bunch of stuff at my Costco last weekend, lol. closeupready Mar 2015 #1

not for me, I am a long time Amex user, but don't need a new visa card. If they won't take the one hollysmom Mar 2015 #2

I'm pretty sure they will accept any card with the VISA logo SoCalNative Mar 2015 #6

"Costco will accept other Visa cards under the new agreement" lutefisk Mar 2015 #12

thank you very much, but I looked, I have a master card, not a visa, sigh. n/t hollysmom Mar 2015 #15

That's good news! Easier for us, too. eom BlueCaliDem Mar 2015 #51

Hear ya. Cash is typically how I pay. Credit cards are toxic, IMO. closeupready Mar 2015 #8

Rewards! oldandhappy Mar 2015 #27

I used my Amex almost exclusively for Costco and gasoline purchases.... PassingFair Mar 2015 #57

I tend to be on the same page as you still_one Mar 2015 #10

I don't know what AmEx was thinking in letting their partnership end KeepItReal Mar 2015 #3

you know who pays for your miles and your disney points? Mosby Mar 2015 #22

"The retailer, that's who." So what. Fine with me. closeupready Mar 2015 #24

My wife likes Costco but we dropped our membership Roland99 Mar 2015 #4

Unfortunately Sam's Club drmeow Mar 2015 #7

I know Roland99 Mar 2015 #16

Costco takes all debit cards. tridim Mar 2015 #5

Years ago my wife started going to Cosco. C Moon Mar 2015 #9

I'm confused... TreasonousBastard Mar 2015 #11

This would only be for individuals that WANT a Costco card Omaha Steve Mar 2015 #14

Of course it is. Just like people who... TreasonousBastard Mar 2015 #17

Costco itself allows employees to unionize if they want Omaha Steve Mar 2015 #18

Amex charges twice what visa and mc charge to retailers. Mosby Mar 2015 #20

Exactly...... sendero Mar 2015 #44

Maybe you don't understand Mosby Mar 2015 #21

My understanding is it will take any Visa since that is in the release too Omaha Steve Mar 2015 #23

Sure, you can. The agreement at issue here is about getting an extra yearly discount closeupready Mar 2015 #26

costco does not take CCs except for the costco Amex. Mosby Mar 2015 #28

Oh, okay, it appears you are correct. At any rate, I don't use credit cards, closeupready Mar 2015 #29

Any American Express card, I believe lutefisk Mar 2015 #30

So if you want the discount points for Costco, Ilsa Mar 2015 #32

The way I read it is they will take any Visa Omaha Steve Mar 2015 #33

Costco treats their employees like human beings and not like cattle. They have a decent business... Hekate Mar 2015 #25

It can be terrible confusing to anyone who is unable to take the bad with the good. LanternWaste Mar 2015 #31

Even more confusing to those who don't get irony. TreasonousBastard Mar 2015 #46

I won't get a citi card just to use at Costco. City Lights Mar 2015 #41

I've been using another bank's Visa check card there for a while... TreasonousBastard Mar 2015 #47

Just got my Costco Amex a couple of months ago, only to discover that they put my street name Dustlawyer Mar 2015 #13

exclusive contracts between CC companies and retailers should be illegal. Mosby Mar 2015 #19

Retailers brand with a bank (Citi in this case) for cards Ruby the Liberal Mar 2015 #35

Costco switched it's exclusive credit cards from Amex to Citi VISA Mosby Mar 2015 #36

You didn't read the article Ruby the Liberal Mar 2015 #38

correction... jljamison Mar 2015 #53

This article says something different Mosby Mar 2015 #54

...acceptance is different than issuance jljamison Mar 2015 #55

Alaska airlines VISA card. Blue_In_AK Mar 2015 #34

The only credit card they will take is the citi VISA Mosby Mar 2015 #37

That's incorrect, they'll take any Visa tammywammy Mar 2015 #42

None of the articles I read on the topic are as clear about the differenrt cards as they should be Mosby Mar 2015 #45

The part I quoted is pretty clear tammywammy Mar 2015 #49

Wall Street journal says this: Blue_In_AK Mar 2015 #48

it could be they changed for the customers demigoddess Mar 2015 #39

Costco expects the current card holders to get new cards tammywammy Mar 2015 #43

That's what I was hoping for. Thanks for the info, didn't read the whole thing, just the replies. freshwest Mar 2015 #50

Cash only for us I guess. City Lights Mar 2015 #40

Well that's irksome. Jester Messiah Mar 2015 #52

Ah. I've been mis-reading. Orsino Mar 2015 #56