Description: This article is going to be talking about the credit card switch at Costco, which is going to have a big influence on the card holders.
A big switch is about to take place for millions of credit card holders. If you plan on heading to Costco, you’ll need to check your wallet to make sure you have what you need.
Let’s explain it, since Monday, if you plan to use a credit card at Costco, you are going to need a new piece of plastic for the first time. Card holders will be barring a Visa card issued by Citigroup replacing the American Express card that Costco exclusively accepted.
I prefer American Express but the benefits are becoming less, so I’m looking to more into using my Visa card, I think the Visa Card American Express is a little pricey. I don’t like it at all because I use American Express for everything, my son is happy about it because he only holds the visa or a MasterCard, so he’s happy about it because he has to go in with cash.
I don’t think it will affect spending one way or the other, I think it’s just a matter of Costco having negotiated a better deal for their customers with Visa, the new card gives customers much more cash back.
Citi’s executive Judd Linville said, Costco’s executives were involved in everything down to the graphics as we talked about how do you construct something like this, they were willing to also go in and say we’re in this with you, we want to make this product the best and so you can imagine that can make negotiations and some of the financials perform a little bit different.
American Express called those new terms Unnie Kannamma : the two companies still can’t decide who exactly broke up with whom, but breakups can be messy when they’re with your single biggest customer in Amex, this case it’s now trying to get Costco shoppers to sign up for a new AMEX card and former customers still owe the company around 12 billion dollars in Costco card balances, but all spending from Monday forward goes to Citigroup and visa, whose other visa credit cards will be accepted at Costco.