Mar 24, 2016, 4:47 pm
Last edit by: cjw2001
FAQ on the Costco Anywhere Visa card: Your Costco Credit Card Account is Being Replaced by Citi
Transition date was June 20, 2016.
- 4% back on gas (up to $7k per year) (Gas at supermarket branded gas stations and warehouse gas stations other than Costco does not qualify.)
- 3% back on travel & dining
- 2% back at Costco and Costco.com
- 1% back elsewhere
From the Citi Costco Site:
Will my Costco Anywhere Card have foreign purchase transaction fees?
Yes. A fee of 3% of the amount of the transaction in US Dollars will be applied to purchases made in a currency other than US Dollars.
There are no foreign transaction fees for purchases made at Costco warehouses worldwide when you pay with your new Costco Anywhere Card.
Please note: not all international Costco warehouse locations accept Visa cards.
Announced 3/1/2018: There will be no foreign purchase transaction fees.
Extended warranty benefit removed for purchases after January 21, 2023.
Transition date was June 20, 2016.
- 4% back on gas (up to $7k per year) (Gas at supermarket branded gas stations and warehouse gas stations other than Costco does not qualify.)
- 3% back on travel & dining
- 2% back at Costco and Costco.com
- 1% back elsewhere
From the Citi Costco Site:
Will my Costco Anywhere Card have foreign purchase transaction fees?
There are no foreign transaction fees for purchases made at Costco warehouses worldwide when you pay with your new Costco Anywhere Card.
Please note: not all international Costco warehouse locations accept Visa cards.
Announced 3/1/2018: There will be no foreign purchase transaction fees.
Extended warranty benefit removed for purchases after January 21, 2023.
Details on new Citi Costco VISA.
Jan 12, 2016, 8:01 pm
#16
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And the citi double cash rewards can be redeemed monthly as soon as the statement closes and be direct deposited into a bank account within a couple days unlike this card that will only give you earned rewards once a year and involves waiting on a paper check and taking it to Costco to cash.
Jan 12, 2016, 8:15 pm
#17
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And the citi double cash rewards can be redeemed monthly as soon as the statement closes and be direct deposited into a bank account within a couple days unlike this card that will only give you earned rewards once a year and involves waiting on a paper check and taking it to Costco to cash.
Jan 13, 2016, 4:37 am
#18
Join Date: Apr 2005
Location: ATL
Posts: 802
The problem may be that from what I have read, on Costco purchases the swipe fee that Citi gets is zero.
Jan 13, 2016, 5:38 am
#19
Join Date: Oct 2014
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That's my understanding as well (or very close to zero) which is why it would make sense that there is no bonus on Costco purchases, and supposedly why the partnership ended in the first place. Each time a customer swipes at Costco, apparently AMEX takes/Citi will take a loss.
Jan 13, 2016, 8:24 am
#20
Join Date: Jan 2015
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Don't expect anything. The best promotion@Costco I have ever seen was $50 statement credit.
+1 Depending on the refilling pattern, somehow Citi Double Cash can do better than the new Citi Costco Visa.
No. It is not. It is the same.
It is apparent that Costco, not Citi, designs the credit card products.
+1 Depending on the refilling pattern, somehow Citi Double Cash can do better than the new Citi Costco Visa.
No. It is not. It is the same.
It is apparent that Costco, not Citi, designs the credit card products.
Jan 13, 2016, 10:12 am
#21
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While it's certainly a for-profit business, I usually feel that Costco doesn't do business that's so contrary to the interests of its customers/members.
This card is really not in the best interests of its patrons.
This card is really not in the best interests of its patrons.
Jan 13, 2016, 12:27 pm
#22
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Actually, it is worse than you think - The card lost way before its initial inception.
I think it is safe to say almost everyone has at least a Visa card (credit/debit). On that basis, one no longer needs a Citi Costco Visa to shop in Costco exclusively.
On the other hand, many people applied for TrueEarning simply because of Costco exclusively. Those people are, not surprisingly, first-time AMEX cardmembers.
Well...since we will never know the negotiation between AMEX and Costco, it will be difficult to say that Costco's decision is not the best interest of its customers/members.
+1
I think it is safe to say almost everyone has at least a Visa card (credit/debit). On that basis, one no longer needs a Citi Costco Visa to shop in Costco exclusively.
On the other hand, many people applied for TrueEarning simply because of Costco exclusively. Those people are, not surprisingly, first-time AMEX cardmembers.
+1
Jan 13, 2016, 1:47 pm
#23
Join Date: Jan 2015
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Actually, it is worse than you think - The card lost way before its initial inception.
I think it is safe to say almost everyone has at least a Visa card (credit/debit). On that basis, one no longer needs a Citi Costco Visa to shop in Costco exclusively.
On the other hand, many people applied for TrueEarning simply because of Costco exclusively. Those people are, not surprisingly, first-time AMEX cardmembers.
Well...since we will never know the negotiation between AMEX and Costco, it will be difficult to say that Costco's decision is not the best interest of its customers/members.
+1
I think it is safe to say almost everyone has at least a Visa card (credit/debit). On that basis, one no longer needs a Citi Costco Visa to shop in Costco exclusively.
On the other hand, many people applied for TrueEarning simply because of Costco exclusively. Those people are, not surprisingly, first-time AMEX cardmembers.
Well...since we will never know the negotiation between AMEX and Costco, it will be difficult to say that Costco's decision is not the best interest of its customers/members.
+1
Will my Amex be transitioned to a Citi Visa?
Jan 13, 2016, 2:35 pm
#24
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I think they'll get quite a few sign-ups. Even though these people basically all already have Visas.
There's a whole subset of people who basically believe: if Costco has it, it has to be a good deal. So they'll take it on faith that if Costco is presenting them with a co-branded credit card, it's the best card for them.
There's a whole subset of people who basically believe: if Costco has it, it has to be a good deal. So they'll take it on faith that if Costco is presenting them with a co-branded credit card, it's the best card for them.
Jan 13, 2016, 4:03 pm
#26
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Jan 13, 2016, 5:09 pm
#27
Join Date: Sep 2009
Posts: 2,832
If I get this new Citi card, and the only thing I use for is the 3% rebate on gasoline, that is not a bad deal. Everywhere I travel, Costco has the least expensive gas in town, and another 3% discount is nice. (I will use my other Visa cards for everything else.)
What is not to like about that?
What is not to like about that?
Jan 13, 2016, 6:06 pm
#28
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I think they'll get quite a few sign-ups. Even though these people basically all already have Visas.
There's a whole subset of people who basically believe: if Costco has it, it has to be a good deal. So they'll take it on faith that if Costco is presenting them with a co-branded credit card, it's the best card for them.
There's a whole subset of people who basically believe: if Costco has it, it has to be a good deal. So they'll take it on faith that if Costco is presenting them with a co-branded credit card, it's the best card for them.
If I get this new Citi card, and the only thing I use for is the 3% rebate on gasoline, that is not a bad deal. Everywhere I travel, Costco has the least expensive gas in town, and another 3% discount is nice. (I will use my other Visa cards for everything else.)
What is not to like about that?
What is not to like about that?
Jan 13, 2016, 7:53 pm
#29
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For you, that sounds good. In my area Costco and Sams are usually within a couple cents of each other on gas, and the Costco gas station at mine is usually a zoo where you have to wait in line. I'll continue to use my Citi Premier at Sams where I get 3x points and no line.
When using my Kroger fuel points at shell I find their gas prices to be lower than Costco. And discover and Chase have gas stations as a 5% quarterly bonus category a lot and I just stock up on shell cards then.
Jan 13, 2016, 8:32 pm
#30
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Costco takes SMGC, or Staples, OD, GC, purchased with INK, or SPG Cards...
Any refunds from Citi Costco cards, can be credited to any other VISA Card desired...
To me this opens many doors, still get the rebate with business membership.
Any refunds from Citi Costco cards, can be credited to any other VISA Card desired...
To me this opens many doors, still get the rebate with business membership.