Costco replacing Amex with Citi co-branded VISA, March 2016
Mar 2, 15, 6:29 am
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Costco replacing Amex with Citi co-branded VISA, March 2016
Citi to become Costco credit card issuer.
Starting in 2016.
http://www.marketwatch.com/story/vis...ist=beforebell
Starting in 2016.
http://www.marketwatch.com/story/vis...ist=beforebell
Mar 2, 15, 7:24 am
#2
Join Date: Jun 2014
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Costco replacing Amex with Citi co-branded VISA
Mar 2, 15, 8:24 am
#3
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Costco replacing Amex with Visa and Citi
Guess I'll start using my citi card.
Mar 2, 15, 8:27 am
#4
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Moderator action
1. Thread transferred to Citi forum because Citi will be the issuer of the new co-branded card.
2. There is already extensive discussion in the American Express forum:
http://www.flyertalk.com/forum/ameri...ch-2016-a.html
2. There is already extensive discussion in the American Express forum:
http://www.flyertalk.com/forum/ameri...ch-2016-a.html
Mar 2, 15, 9:03 am
#5
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It could be a big boost to the thankyou rewards program if there is a card that gets bonus points for Costco spend. I hope to see this happen instead of just a cash back card
Mar 2, 15, 9:33 am
#6
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Citi is pursuing an interesting strategy in issuing co-branded cards. They have partnered with one airline (AA), one hotel chain (Hilton), one online travel agency (Expedia), and now one club store (Costco). (I think they also issue cards for some other retailers, such as Macy's, haven't kept track.) This allows them to fully support their partners because they are not also issuing cards for a direct competitor.
Costco is also on an unusual course by accepting VISA in the USA, but MasterCard in Canada. This has the benefit of maintaining a relationship with both networks, but it means consumers who shop cross border may be confused or inconvenienced.
Costco is also on an unusual course by accepting VISA in the USA, but MasterCard in Canada. This has the benefit of maintaining a relationship with both networks, but it means consumers who shop cross border may be confused or inconvenienced.
Mar 2, 15, 9:37 am
#7
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The real strategy question in my mind is whether the co-branded card is a cash-back card to a Thank You Points card.
Mar 2, 15, 10:37 am
#8
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@mia There is a small niche of people living on the Canadian border who this *might* impact. As far as I know, Canadians are the only ones who benefit from lower grocery prices by shopping across the border. I know the Bellingham, WA location is an example of a Costco that is bombarded by Canadians in search of cheap milk, though this might have died down a bit with the strengthening USD.
My guess is that the majority of these Canadians pay cash anyway due to forex fees on Canadian-issues credit cards, so the Visa/MC thing isn't an issue anyway.
My guess is that the majority of these Canadians pay cash anyway due to forex fees on Canadian-issues credit cards, so the Visa/MC thing isn't an issue anyway.
Mar 2, 15, 2:49 pm
#9
Join Date: May 2013
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How does a switch line this usually work? Will Amex close the existing account and then you have to re-apply with Citi?
Mar 2, 15, 4:02 pm
#10
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Originally Posted by voodoogirl
How does a switch line this usually work? Will Amex close the existing account and then you have to re-apply with Citi?
in most cases Amex will just close your account and Citi will open a new account for you under the new bank/ownership (usually without a new credit pull)
Mar 2, 15, 4:06 pm
#11
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A bit disappointed that its a visa. 2% cash back on amex and mc... no 2% visa. Maybe this will change that.
Mar 2, 15, 4:32 pm
#12
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Originally Posted by mia
Citi is pursuing an interesting strategy in issuing co-branded cards. They have partnered with one airline (AA), one hotel chain (Hilton), one online travel agency (Expedia), and now one club store (Costco). (I think they also issue cards for some other retailers, such as Macy's, haven't kept track.)
Citi will be a good partner for Costco customers. They did a brilliant job for me when Sears would not credit me over $785 for selling me an "out of stock" TV.
Last edited by mia; Mar 2, 15 at 6:24 pm Reason: formatting
Mar 2, 15, 4:35 pm
#13
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You can bet Citi Reps will have a table at Costco, and the 2% will be there, plus 4% gas
Look for a nice sign up bonus,
Costco has been using V MC online orders for a while...
Who knows may get some AA Miles..
Look for a nice sign up bonus,
Costco has been using V MC online orders for a while...
Who knows may get some AA Miles..
Mar 2, 15, 4:40 pm
#14
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Originally Posted by satman40
You can bet Citi Reps will have a table at Costco, and the 2% will be there, plus 4% gas
Look for a nice sign up bonus,
Costco has been using V MC online orders for a while...
Who knows may get some AA Miles..
Look for a nice sign up bonus,
Costco has been using V MC online orders for a while...
Who knows may get some AA Miles..
Mar 2, 15, 4:43 pm
#15
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Originally Posted by NDN
The real strategy question in my mind is whether the co-branded card is a cash-back card to a Thank You Points card.
If the earning structure changes dramatically from the current one, I see no personal advantage to using a new Visa over the 6-8 that I already carry.
