Mar 25, 2016, 9:31 am
Last edit by: mia
Official information from American Express:
https://www.americanexpress.com/us/content/program-update/
Official information from Citi:
http://citi.com/WelcomeCostco
FT thread on new Citi Costco Anywhere Visa card:
http://www.flyertalk.com/forum/citi-...post-64-a.html
Official transition information from Costco:
https://customerservice.costco.com/s...nd-Credit-Card
https://www.americanexpress.com/us/content/program-update/
If you cancel your account on or prior to June 16, 2016, your account will not be transferred to Citi, even if you have already received the new card from Citi.
http://citi.com/WelcomeCostco
FT thread on new Citi Costco Anywhere Visa card:
http://www.flyertalk.com/forum/citi-...post-64-a.html
Official transition information from Costco:
https://customerservice.costco.com/s...nd-Credit-Card
Costco and Amex terminate U.S.A. agreement eff June, 2016
Mar 2, 2015, 6:27 am
#91
Suspended
Join Date: Aug 2005
Location: BOS
Posts: 15,027
Citi to become the exclusive issuer of Costco credit cards.
http://www.marketwatch.com/story/vis...ist=beforebell
http://www.marketwatch.com/story/vis...ist=beforebell
Mar 2, 2015, 6:56 am
#92
In Memoriam, FlyerTalk Evangelist
Join Date: Jun 2000
Location: Benicia CA
Programs: Alaska MVP Gold 75K, AA 3.8MM, UA 1.1MM, enjoying the retired life
Posts: 31,849
Will be interesting to see what sort of rewards scheme they come out with to encourage members to get a Costco-branded Visa. Wonder if it will be similar to what's currently in play with AMEX (1-2-3% for various categories). There's going to have to be something more than my other VISA cards offer.
Mar 2, 2015, 7:46 am
#93
Join Date: Jan 2013
Location: NYC
Posts: 538
And, per the Costco news release, it looks like Citi is getting the existing Amex card portfolio as part of the deal:
ISSAQUAH, WA -- (Marketwired) -- 03/02/15 -- Costco Wholesale Corporation ("Costco") (NASDAQ: COST) today announced it has entered into a new co-brand credit card program agreement with Citi and an acceptance and co-brand incentive agreement with Visa. The implementation of these agreements is subject to the purchase of the existing co-brand credit card portfolio by Citi.[...]
Mar 2, 2015, 9:02 am
#95
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,954
Moderator action
Please use this thread in the Citi forum to discuss or speculate about the card to be issued by Citi:
http://www.flyertalk.com/forum/citi-...ch-2016-a.html
This thread, in the American Express forum, will remain open to discuss the ramifications of the loss of this contract for American Express and cardholders.
http://www.flyertalk.com/forum/citi-...ch-2016-a.html
This thread, in the American Express forum, will remain open to discuss the ramifications of the loss of this contract for American Express and cardholders.
Mar 19, 2015, 1:59 pm
#99
Join Date: Apr 2013
Posts: 275
I haven't even tried to switch. Costco membership is on the card itself, switching now means having to carry yet another card. Not a big issue but my wallet has too many plastics in it already. Unfortunately I think I'll be doing more business with Visa/MC in the future as a large portion of my spending these days are overseas and other than the Plat, none of the other AMEX reward cards have 0% foreign transaction fees. Starwood would get most of my business with my SPG Amex if they were to drop the FT fees. In the meantime, Hilton it is.
Mar 19, 2015, 4:08 pm
#100
FlyerTalk Evangelist
Join Date: Aug 2009
Location: ZOA, SFO, HKG
Programs: UA 1K 0.9MM, Marriott Gold, HHonors Gold, Hertz PC, SBux Gold, TSA Pre✓
Posts: 13,811
The situation is that worse when the old styled Costco AMEX cards still exist.
I will simply sit and wait.
Mar 20, 2015, 1:56 pm
#101
FlyerTalk Evangelist
Join Date: Mar 2010
Location: DAY
Programs: UA 1K 1MM; Marriott LT Titanium; Amex MR; Chase UR; Hertz PC; Global Entry
Posts: 10,159
I haven't even tried to switch. Costco membership is on the card itself, switching now means having to carry yet another card. Not a big issue but my wallet has too many plastics in it already. Unfortunately I think I'll be doing more business with Visa/MC in the future as a large portion of my spending these days are overseas and other than the Plat, none of the other AMEX reward cards have 0% foreign transaction fees. Starwood would get most of my business with my SPG Amex if they were to drop the FT fees. In the meantime, Hilton it is.
Mar 21, 2015, 8:33 pm
#102
Join Date: Apr 2013
Posts: 275
Good to hear but Membership Reward points are starting to get less useful these days at least to me in terms of transfers. 3 to 1 for SPG and hardly any bonus for Delta. BA is semi useful for NA travels but the tax/fees to Europe is crazy.
Apr 5, 2015, 12:29 am
#103
Join Date: Sep 2010
Location: San Francisco, CA
Programs: United Plat
Posts: 499
Thinking About Cancelling AMEX/Costco. Suggestions?
Hi,
AMEX/Costco card will to be discontinued in 2016. Looks like Citi will take over the portfolio. I don't remember when AMEX/Costco was introduced, but I had to call AMEX to get this card approved because I had AMEX Blue at that time. I was asked to cancel Blue in order to get Costco card approved. My credit report actually says that my AMEX/Costco card was opened in 1998. I guess 1998 was the time I got Blue.
I want to keep an AMEX credit card with a long history back to 1998. Questions:
1. Will AMEX offer current AMEX/Costco card members an opportunity to convert the card to another AMEX credit card, so card members are able to keep their credit history?
2. I don't want to have a Citi/Costco Visa as I have a couple of Visa cards already. Should I cancel or convert AMEX/Costco card as early as now so Citi won't issue me a Citi/Costco Visa next spring?
Thanks!
AMEX/Costco card will to be discontinued in 2016. Looks like Citi will take over the portfolio. I don't remember when AMEX/Costco was introduced, but I had to call AMEX to get this card approved because I had AMEX Blue at that time. I was asked to cancel Blue in order to get Costco card approved. My credit report actually says that my AMEX/Costco card was opened in 1998. I guess 1998 was the time I got Blue.
I want to keep an AMEX credit card with a long history back to 1998. Questions:
1. Will AMEX offer current AMEX/Costco card members an opportunity to convert the card to another AMEX credit card, so card members are able to keep their credit history?
2. I don't want to have a Citi/Costco Visa as I have a couple of Visa cards already. Should I cancel or convert AMEX/Costco card as early as now so Citi won't issue me a Citi/Costco Visa next spring?
Thanks!
Last edited by sfo3388; Apr 5, 2015 at 1:44 am
Apr 5, 2015, 12:53 am
#104
Join Date: Mar 2015
Location: California
Programs: AA UA
Posts: 151
Hi,
AMEX/Costco card will to be discontinued in 2016. Looks like Citi will take over the portfolio. I don't remember when AMEX/Costco was introduced, but I had to call AMEX to get this card approved because I had AMEX Blue at that time. I was asked to cancel Blue in order to get Costco card approved. My credit report actually says that my AMEX/Costco card was open in 1998. I guess 1998 was the time I got Blue.
I want to keep an AMEX credit card with a long history back to 1998. Questions:
1. Will AMEX offer current AMEX/Costco card members an opportunity to convert the card to another AMEX credit card, so card members are able to keep their credit history?
AMEX/Costco card will to be discontinued in 2016. Looks like Citi will take over the portfolio. I don't remember when AMEX/Costco was introduced, but I had to call AMEX to get this card approved because I had AMEX Blue at that time. I was asked to cancel Blue in order to get Costco card approved. My credit report actually says that my AMEX/Costco card was open in 1998. I guess 1998 was the time I got Blue.
I want to keep an AMEX credit card with a long history back to 1998. Questions:
1. Will AMEX offer current AMEX/Costco card members an opportunity to convert the card to another AMEX credit card, so card members are able to keep their credit history?
2. I don't want to have a Citi/Costco Visa as I have a couple of Visa cards already. Should I cancel or convert AMEX/Costco card as early as now so Citi won't issue me a Citi/Costco Visa next spring?
Apr 5, 2015, 1:44 am
#105
Join Date: Sep 2010
Location: San Francisco, CA
Programs: United Plat
Posts: 499
My intention is to keep an AMEX card with account age starting 1998 in order to keep my FICO score high. I think the credit line of Blue was opened in 1998. Then Costco TrueEarnings took over that credit line so my credit report has 1998 as the year opened.
If AMEX offers TrueEarnings card members a new product next year but reset the account age starting 2016, I think it will impact the FICO score somehow.