CostCo USA dropping Amex for Citigroup VISA

[doubledeluxe]

Every once in a while I get some fraud on one of my cards. I travel a lot and people think they're being sneaky by charging my card 2 years later. AMEX is super easy to deal with. Capital One (my visa card for the other 2% of my charges) is not so easy.

I just had a charge from South Africa and not only did I have to contest the charge but they then put it back on my card. I then had to call them again and they claimed that I needed to dispute the charge twice in order for it to stay off my card. Once for the credit card and once for fraud. Something weird. I got it taken care of but it took several phone calls and some online work. Way more trouble than with AMEX.

 

[Carson Dyle]

What happens to those cards if/when Costco stops issuing them?

I have an Amex card that I got years ago that I haven't used in probably ten years. I just checked the account and found that I can use the points on Amazon, although I had no idea what that meant. I registered the card with Amazon and it turns out that it means I just found $28.

 

[alkemyst]

What happens to those cards if/when Costco stops issuing them?

I have an Amex card that I got years ago that I haven't used in probably ten years. I just checked the account and found that I can use the points on Amazon, although I had no idea what that meant. I registered the card with Amazon and it turns out that it means I just found $28.

They will usually send you a new card, chances are outside of the partnership your card will work as it did everywhere else.

 

[alkemyst]

Every once in a while I get some fraud on one of my cards. I travel a lot and people think they're being sneaky by charging my card 2 years later. AMEX is super easy to deal with. Capital One (my visa card for the other 2% of my charges) is not so easy.

I just had a charge from South Africa and not only did I have to contest the charge but they then put it back on my card. I then had to call them again and they claimed that I needed to dispute the charge twice in order for it to stay off my card. Once for the credit card and once for fraud. Something weird. I got it taken care of but it took several phone calls and some online work. Way more trouble than with AMEX.

That's awesomely coincidental that you were just in South America today.

 

[doubledeluxe]

What?

 

[AznAnarchy99]

They will usually send you a new card, chances are outside of the partnership your card will work as it did everywhere else.

But it's amex bank that handles the card. They would probably make a deal with capital one to approve anyone who already has a Costco amex card.

 

[alkemyst]

But it's amex bank that handles the card. They would probably make a deal with capital one to approve anyone who already has a Costco amex card.

I really doubt that.

 

[alkemyst]

Yeah, I'd be pretty amazed if it was zero. That's a lot of cash to leave on the table, even if they had offered something as ridiculously low as 1%. The only way it could be zero is if they sold the hell out of those co-branded cards and it made the issuer a shit-ton of money. I imagine many people only have the Costco Amex in order to make Costco purchases.

Most of Costco's traffic is not going to leave a balance on the card anyway. They take on no risk and then still get their fees from other companies.

Costco has about 72 million members, with a third of those being executive members. The giant retailer generated $2.29 billion in membership fees in fiscal 2013. Costco earned about $2.04 billion on sales of $102.87 billion in fiscal 2013.

 

[ponyo]

Average income of Costco member is $85,000. Amex wanted access to that affluent customer base. Amex made their money when Costco members used the Amex card at other retailers and services.

Costco is tough with their vendors and suppliers. They replaced Coke with Pepsi at all their stores couple years back after decades of partnership with Coke. They did the same with the Hewbrew National hotdogs in the food court and swapped it out with their Kirkland brand. I remember when Costco removed all Apple products for several years because Apple was giving Sam's Club preferential treatment.

 

[KentState]

Since when does ANYONE accept American Express?

I haven't seen anything but Visa and Mastercard logos for years.

You must not travel much. I have had Amex corporate cards for the last 15 years and never had an issue paying for anything.

 

[RossMAN]

Just a reminder CostCo accepts several forms of payment:

We welcome cash,* checks,* debit/ATM cards,** Costco Cash Cards, Costco Credit Cards**, EBT Cards and American Express Cards.** Checks may require picture identification and approval by a supervisor or manager.
* Not accepted at Costco Gas Stations.
** Not accepted at Costco Food Courts.
Costco does not accept manufacturers' discount coupons or other retail establishment discount coupons (other than those distributed by Costco).
Personal checks must be written in the exact amount, issued on the member's checking account, pre-printed with the member's name, address and telephone number and presented by the member. Any exceptions must be pre-approved by the warehouse manager.
The primary member is responsible for purchases made by any additional cardholders. In the event that either the primary member or additional cardholder has a check returned by the bank, the primary will make good the face amount of the check upon demand, plus a reasonable service charge and other expenses incurred.
If any legal action is brought by or on behalf of Costco to collect payment on a check, the member writing the check will be liable for reasonable fees and costs of collection.

I prefer paying with my Amex for the rewards/benefits.

 

[alkemyst]

Rossman, that AMEX is not the COSTCO AMEX.

If you can get 3% back on Costco gas that is an awesome benefit, sadly most will not qualify for that card.

 

[alkemyst]

You must not travel much. I have had Amex corporate cards for the last 15 years and never had an issue paying for anything.

I am sure Hotels, Planes, Trains, etc all work well.

Lol at mentioning a Corp. card.

 

[doubledeluxe]

Alkemyst is just salty because he needs to use a credit card to buy everything and they won't take his AMEX card at the hotdog stand.

 

[ponyo]

Rossman, that AMEX is not the COSTCO AMEX.

If you can get 3% back on Costco gas that is an awesome benefit, sadly most will not qualify for that card.

His link goes to Costco Amex. Costco Amex is not hard to get.

 

[alkemyst]

Alkemyst is just salty because he needs to use a credit card to buy everything and they won't take his AMEX card at the hotdog stand.

I haven't needed credit in about half a decade for anything but cars and homes.

Thanks for your concern.

 

[doubledeluxe]

You bought your trailer on your credit card? That's sad.

 

[alkemyst]

His link goes to Costco Amex. Costco Amex is not hard to get.

It requires excellent credit the card he linked.

Maybe Florida is different, but you don't get that much cash back for gas at Costco here.

I will go back to Customer Service there to re-ask this though soon.

 

[alkemyst]

You bought your trailer on your credit card? That's sad.

please quote. Mr. Brave One.

 

[RossMAN]

It requires excellent credit the card he linked.

Maybe Florida is different, but you don't get that much cash back for gas at Costco here.

I will go back to Customer Service there to re-ask this though soon.

I believe I linked to the correct co-branded CostCo Amex, but unlike you I'm not perfect. If you can provide a link to the correct credit card, I'll edit my post.

Years ago when I first applied for the Amex I was declined, I can't remember the reason(s) why. 6 months later I applied again and was approved.

Since it's Thanksgiving, wanna bro hug?

 

[alkemyst]

I believe I linked to the correct co-branded CostCo Amex, but unlike you I'm not perfect. If you can provide a link to the correct credit card, I'll edit my post.

Years ago when I first applied for the Amex I was declined, I can't remember the reason(s) why. 6 months later I applied again and was approved.

Since it's Thanksgiving, wanna bro hug?

No, I don't swing that way.

 

[rommelrommel]

What happens to those cards if/when Costco stops issuing them?

I have an Amex card that I got years ago that I haven't used in probably ten years. I just checked the account and found that I can use the points on Amazon, although I had no idea what that meant. I registered the card with Amazon and it turns out that it means I just found $28.

In Canada Amex has offered anyone with a Costco Amex a SimplyCash Amex to replace the Costco Amex that becomes a chunk of plastic at the end of the year. I imagine something similar would happen in the USA.

 

[alkemyst]

In Canada Amex has offered anyone with a Costco Amex a SimplyCash Amex to replace the Costco Amex that becomes a chunk of plastic at the end of the year. I imagine something similar would happen in the USA.

Ahh Rossman is a Canadian.

Explains a lot.

 

[AznAnarchy99]

Rossman, that AMEX is not the COSTCO AMEX.

If you can get 3% back on Costco gas that is an awesome benefit, sadly most will not qualify for that card.

Huh. That is the Costco amex I have. I got approved for it at 19.

 

[alkemyst]

Huh. That is the Costco amex I have. I got approved for it at 19.

Wow doesn't look like the Costco AMEX locally.