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Old Jul 22, 2025 | 12:47 pm
  #494  
mia
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Originally Posted by tth6133
I'm pretty sure that Citi loses money on its Costco cobranded card.
My recollection is that VISA negotiated the contract directly with Costco, and they structured it to be profitable for the issuer. When Citi bought the accounts from American Express they paid a $1 billion premium over the outstanding balances, because of the amount of interest that Costco cardholders pay.
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