Details on new Citi Costco VISA.
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#1
FlyerTalk Evangelist
Original Poster
Join Date: Dec 2002
Location: Danville, CA, USA;
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Posts: 12,911
Details on new Citi Costco VISA.
(Hat Tip to Doctor of Credit)
Per public filings at sec.gov the following details have been revealed:
Starting in April 2016, Costco will start a new partnership with Visa and Citi; only Visa credit cards will be allowed at the warehouse and Citi will issue a Costco co-branded credit card under the Visa network.
Personal credit card details
Business credit card details
My view: Useful if you do not have another reward card that provides a bonus for gas and travel spend (or don't want to pay an annual fee) and for those who value costco credit (same as cash IMO) over funny money points.
A bit disappointing that there is no bonus for Costco spend.
Personally I would rather have Chase UR points so I see no reason to apply for another card.
Per public filings at sec.gov the following details have been revealed:
Starting in April 2016, Costco will start a new partnership with Visa and Citi; only Visa credit cards will be allowed at the warehouse and Citi will issue a Costco co-branded credit card under the Visa network.
Personal credit card details
- No annual fee
- 3% on the first $4,000 of gas, 1% thereafter
- 2% on travel and at US restaurants
- 1% on all other purchases including Costco
Business credit card details
- No annual fee
- 4% on the first $7,000 of gas, 1% thereafter
- 2% on travel and at US restaurants
- 1% on all other purchases including Costco
My view: Useful if you do not have another reward card that provides a bonus for gas and travel spend (or don't want to pay an annual fee) and for those who value costco credit (same as cash IMO) over funny money points.
A bit disappointing that there is no bonus for Costco spend.
Personally I would rather have Chase UR points so I see no reason to apply for another card.
#2
Join Date: Sep 2005
Programs: Northwest, United
Posts: 2,973
(Hat Tip to Doctor of Credit)
Per public filings at sec.gov the following details have been revealed:
Starting in April 2016, Costco will start a new partnership with Visa and Citi; only Visa credit cards will be allowed at the warehouse and Citi will issue a Costco co-branded credit card under the Visa network.
Personal credit card details
Business credit card details
My view: Useful if you do not have another reward card that provides a bonus for gas and travel spend (or don't want to pay an annual fee) and for those who value costco credit (same as cash IMO) over funny money points.
A bit disappointing that there is no bonus for Costco spend.
Personally I would rather have Chase UR points so I see no reason to apply for another card.
Per public filings at sec.gov the following details have been revealed:
Starting in April 2016, Costco will start a new partnership with Visa and Citi; only Visa credit cards will be allowed at the warehouse and Citi will issue a Costco co-branded credit card under the Visa network.
Personal credit card details
- No annual fee
- 3% on the first $4,000 of gas, 1% thereafter
- 2% on travel and at US restaurants
- 1% on all other purchases including Costco
Business credit card details
- No annual fee
- 4% on the first $7,000 of gas, 1% thereafter
- 2% on travel and at US restaurants
- 1% on all other purchases including Costco
My view: Useful if you do not have another reward card that provides a bonus for gas and travel spend (or don't want to pay an annual fee) and for those who value costco credit (same as cash IMO) over funny money points.
A bit disappointing that there is no bonus for Costco spend.
Personally I would rather have Chase UR points so I see no reason to apply for another card.
#3
Join Date: Sep 2001
Location: Connecticut
Programs: AA LT plat; Marriott LT plat; Hilton Gold
Posts: 282
Any word on whether the rewards are only available in a once per year check cashable only at Costco? Would be a big improvement if you could at least use them as a statement credit, IMO.
#5
A FlyerTalk Posting Legend, Moderator: American Express, Citi, Diners Club, Signatures
Join Date: Jun 2003
Location: Miami & London
Programs: AA & Marriott Perpetual Platinum; HH Gold
Posts: 41,772
#7
Join Date: Jan 2015
Programs: Marriott Titanium, Hilton Gold, United Silver
Posts: 714
(Hat Tip to Doctor of Credit)
Per public filings at sec.gov the following details have been revealed:
Starting in April 2016, Costco will start a new partnership with Visa and Citi; only Visa credit cards will be allowed at the warehouse and Citi will issue a Costco co-branded credit card under the Visa network.
Personal credit card details
Business credit card details
My view: Useful if you do not have another reward card that provides a bonus for gas and travel spend (or don't want to pay an annual fee) and for those who value costco credit (same as cash IMO) over funny money points.
A bit disappointing that there is no bonus for Costco spend.
Personally I would rather have Chase UR points so I see no reason to apply for another card.
Per public filings at sec.gov the following details have been revealed:
Starting in April 2016, Costco will start a new partnership with Visa and Citi; only Visa credit cards will be allowed at the warehouse and Citi will issue a Costco co-branded credit card under the Visa network.
Personal credit card details
- No annual fee
- 3% on the first $4,000 of gas, 1% thereafter
- 2% on travel and at US restaurants
- 1% on all other purchases including Costco
Business credit card details
- No annual fee
- 4% on the first $7,000 of gas, 1% thereafter
- 2% on travel and at US restaurants
- 1% on all other purchases including Costco
My view: Useful if you do not have another reward card that provides a bonus for gas and travel spend (or don't want to pay an annual fee) and for those who value costco credit (same as cash IMO) over funny money points.
A bit disappointing that there is no bonus for Costco spend.
Personally I would rather have Chase UR points so I see no reason to apply for another card.
#8
FlyerTalk Evangelist
Join Date: Aug 2009
Location: ZOA, SFO, HKG
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Posts: 12,634
It is apparent that Costco, not Citi, designs the credit card products.
#9
FlyerTalk Evangelist
Original Poster
Join Date: Dec 2002
Location: Danville, CA, USA;
Programs: UA Plat & 1MM, DL Plat, Marriott LT Gold, HHonors Gold, Hyatt Explorist & IHG Ambassador
Posts: 12,911
They must think Costco shoppers are dumbkopfs.
#10
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 8,103
And, based on the percentage of Amex's business that was on Costco Amex cards, they are correct.
#11
Join Date: Jun 2005
Location: ORD (formerly SAN)
Programs: Hilton Diamond; IHG Spire; AA Gold and free agent (DH = AA EXP)
Posts: 1,757
Maybe the folks at the Costco-Citi team didn't really think this one through. While I was happy with my Costco Amex card, it was because I have very few Amex cards in general, and this was the only one with cash back (the others are hotel cards). I have a dozen (maybe more) Visa cards that give me better cashback than the Costco card. There's really no reason to apply for a Costco card unless they offer card-specific offers like Amazon does.
#12
Join Date: Oct 2013
Location: DEN
Programs: AS MVP; UA Silver; HHonors Silver; HyattGP Platinum; Hertz PC
Posts: 113
Doesn't look good. Further down in the article it says it will be the same annual costco rebate check.
#13
#14
#15
A FlyerTalk Posting Legend, Moderator: American Express, Citi, Diners Club, Signatures
Join Date: Jun 2003
Location: Miami & London
Programs: AA & Marriott Perpetual Platinum; HH Gold
Posts: 41,772
Don't expect anything. The best [email protected] I have ever seen was $50 statement credit.
Richard Galanti, Costco's finance chief, said co-branded customer sign-ups during the quarter ended Nov. 22 had "greatly slowed and now ceased." That reduced the company's quarterly earnings by $15 million - See more at: http://paymentsjournal.com/Content/F....uRWoVA3z.dpuf