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Costco and Amex terminate U.S.A. agreement eff June, 2016

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Old Mar 25, 2016, 9:31 am
FlyerTalk Forums Expert How-Tos and Guides
Last edit by: mia
Official information from American Express:

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.
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
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Costco and Amex terminate U.S.A. agreement eff June, 2016

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Old Feb 12, 2015, 6:12 am
  #1  
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Costco and Amex terminate U.S.A. agreement eff June, 2016
Looks like Amex was unable to renew their agreement with CostCo in the USA, similar to how they were unable to with the Canada operations.

American Express Company AXP, said Thursday it will end its U.S. co-branding and merchant acceptance agreement with Costco Wholesale Corp. on March 31, 2016. Amex Chief Executive Kenneth Chenault said the partners were unable to reach terms "that would have made economic sense for our company and shareholders".
http://www.marketwatch.com/story/ame...016-2015-02-12
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Old Feb 12, 2015, 6:45 am
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Oh well.

I carry the Costco AMEX and the 1% I get back there, I can get anywhere else.

I'll still carry both "memberships" either way.
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Old Feb 12, 2015, 7:12 am
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Well thankfully Costco extends AMEX like protections to all purchases regardless of payment type (returns and warranty). I switched to a CSP/DC combo just recently.
Last edited by cotr; Feb 12, 2015 at 7:20 am
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Old Feb 12, 2015, 7:27 am
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Most of the time I use AMEX is at Costco. Now I'll have to figure out whether it's worth keeping it.
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Old Feb 12, 2015, 7:56 am
  #5  
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It's more likely to lead me to drop my Costco membership than Amex. I already have complimentary access to Sams through a family member, so doesn't make sense to carry both IMO. But we'll see...
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Old Feb 12, 2015, 8:15 am
  #6  
 
Join Date: Feb 2008
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Will Costco honor any credit card at all? Or just a debit card?
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Old Feb 12, 2015, 8:26 am
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Join Date: Nov 2008
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Originally Posted by tbrein
Will Costco honor any credit card at all? Or just a debit card?
In Canada they've switched to MasterCard. I would assume that they would come to an agreement with MC or Visa in the US.
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Old Feb 12, 2015, 8:33 am
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Join Date: Mar 2014
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Originally Posted by tbrein
Will Costco honor any credit card at all? Or just a debit card?
I am sure they are working on a deal with another card service, such as Visa, MC or Discover. Or perhaps they will open it up to all cards and lose the exclusivity all together.
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Old Feb 12, 2015, 9:17 am
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All I can think of is the PRETTY WOMEN movie Rodeo Drive store shopping scene......Vivian: “Big mistake. Big. Huge. I have to go shopping now"
Last edited by Centurion; Feb 12, 2015 at 9:36 am
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Old Feb 12, 2015, 9:26 am
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Join Date: Jan 2004
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Originally Posted by Trinob
I am sure they are working on a deal with another card service, such as Visa, MC or Discover. Or perhaps they will open it up to all cards and lose the exclusivity all together.
No way to more than one card. The revenue derived from 1. transaction fees (probably less than normal) and 2. finance charges via carried-over balances (where the big bucks are) are an integral part of the bid. At Sam's it's MC; I'll bet Visa kills to get Costco.

This is a real blow to Amex both in revenue and prestige.
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Old Feb 12, 2015, 10:25 am
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Join Date: Jun 2014
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breaking: Costco set to terminate Amex contract
Wow Costco is ending deal with Amex next year. Big loss for Amex as Costco accounts for 8% of billings.

Wonder who will replace?
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Old Feb 12, 2015, 10:27 am
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Originally Posted by robbeck1
I'll bet Visa kills to get Costco.
thats my bet too
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Old Feb 12, 2015, 10:28 am
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Don't know what AMEX is thinking. At the rate they are going there will be nothing left of the company.
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Old Feb 12, 2015, 10:29 am
  #14  
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If it goes from Amex to Capital One, like it did in Canada, Costco is effectively saying it is going for low income customers.
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Old Feb 12, 2015, 10:30 am
  #15  
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There goes my annual spend for the DELTA AMEX WAIVER
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