Details on new Citi Costco VISA.

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Old Oct 4, 20, 3:58 am   -   Wikipost
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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)
- 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.
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Old Feb 5, 16, 8:26 pm
  #46  
 
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Here is the updated article:

http://www.seattletimes.com/business...t-card-switch/
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Old Feb 5, 16, 8:34 pm
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Originally Posted by Steve in Olympia View Post
Thanks, have you seen any official word on if Costco will take Amex online after the switch similar to how they accept MC and Visa online now ?
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Old Feb 10, 16, 3:39 pm
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Not official word but I was told yes.
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Old Feb 16, 16, 9:39 pm
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Dumb Q: Does the old Amex Costco card offer 2x on foreign restaurants vs. the new Citi card which only offers it on US restaurants?

I've never bothered to use it abroad, but I know my CSP credits 2x points on foreign restaurants when I've used it.
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Old Feb 16, 16, 9:43 pm
  #50  
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I've never used mine outside the U.S. due to the 2.7% forex fee. Even if they did offer the 2% rebate on restaurants outside the U.S., do you really come out ahead when you have to pay 2.7% extra to accrue that?
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Old Mar 5, 16, 12:55 am
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so whats the preferred card for use at Costco? I already have a Chase Freedom and Sapphire which will get me 1pt/1%, the same as the Costco Citi. If the new Freedom Unlimited offers 1.5 pts/%, can be kept alongside the Freedom, and transfer points with Sapphire, that would seem to offer the best return. Is there a 2%/2x points card that can be used at Costco that I'm missing?
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Old Mar 5, 16, 4:02 am
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If we cancel the costco amex now can we still get the citi card once it comes out or do we have to keep our amex card until then
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Old Mar 5, 16, 4:36 pm
  #53  
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Originally Posted by tjh8402 View Post
Is there a 2%/2x points card that can be used at Costco that I'm missing?
http://www.flyertalk.com/forum/credi...-4-2016-a.html

...but bear in mind that 1.5 Ultimate Rewards points should be worth more than $0.02 if transferred to an airline program or to Hyatt.
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Old Mar 5, 16, 7:07 pm
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Originally Posted by happyvoid View Post
If we cancel the costco amex now can we still get the citi card once it comes out or do we have to keep our amex card until then
No, you don't want to do that. The Amex accounts are going to be transferred to Citi. They aren't going to create a new account. So if you cancel your Costco Amex account you won't get a Citi card.

Last edited by AONwheels; Mar 5, 16 at 9:03 pm
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Old Mar 9, 16, 1:35 pm
  #55  
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If you have a Costco Amex it will be transferred over to the corresponding new Citi Visa card. Amex said recently that it has sld its Costco Cobrand portfolio to Citi:
February 29, 2016 08:30 AM Eastern Standard Time

NEW YORK--(BUSINESS WIRE)--American Express (NYSE: AXP) today announced that it entered into an agreement to sell its Costco U.S. cobranded card portfolio to Citibank N.A. (Citi).

The sale is expected to close June 2016, at which time all eligible Costco American Express Card cobranded accounts will be transferred to Citi. Additional details will be provided to Card Members in advance of the partnership end date.

...
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Old Mar 10, 16, 12:38 pm
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AMEX Costco to Citi Costco opening date????

I was thinking about the switch between AMEX and Citi. I am wondering if Citi will use/absorb the account opening date (Member Since date) from AMEX's internal records, or the date indicated/listed (date account was actually open, not Member since date) from the credit bureau??

If the latter, those who are worried about AAOA will be disappointed. I would conclude that AMEX will only transfer their internal account records that they maintain to Citi, and not want is reported to the credit bureaus. The accounts (Internal and External) are two different things.

Last edited by livencali; Mar 10, 16 at 12:43 pm
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Old Mar 11, 16, 10:14 pm
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Originally Posted by livencali View Post
I was thinking about the switch between AMEX and Citi. I am wondering if Citi will use/absorb the account opening date (Member Since date) from AMEX's internal records, or the date indicated/listed (date account was actually open, not Member since date) from the credit bureau??

If the latter, those who are worried about AAOA will be disappointed. I would conclude that AMEX will only transfer their internal account records that they maintain to Citi, and not want is reported to the credit bureaus. The accounts (Internal and External) are two different things.
I wouldn't be s sure. The article I linked to above says this:
...The ultimate gain on sale will be determined based on the assets actually sold, and as previously disclosed, American Express estimates a gain of approximately $1 billion. Given that the close is still several months away, and the Card Member borrowing and paydown trends are difficult to predict in this type of transition, the final gain could differ from the estimate.
From that I'd guess that everything is being sold -- including any open balances. It could very well be that accounts will simply be transferred. How that would be reported to credit bureaus I have no idea if it's still really the same account.
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Old Mar 12, 16, 5:33 pm
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will the new card have a membership built in? I thought the old ones did but had an annual fee. Probably not with no annual fee on the new products.
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Old Mar 12, 16, 10:04 pm
  #59  
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Originally Posted by HGHUA View Post
will the new card have a membership built in? I thought the old ones did but had an annual fee. Probably not with no annual fee on the new products.
I'm sure the new card will be just like the od (current) one -- pay for your annual Costco membership and the card is free.
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Old Mar 13, 16, 6:21 pm
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Someone over on myFICO noted the changeover date will be June 20. Seems to be an employee at Costco. Not sure if links to other boards are allowed.

http://ficoforums.myfico.com/t5/Cred...o/td-p/4494993
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