As we’ve known since early last year,Costco is replacing American Express with Citi for their exclusive credit card agreement. With Citi taking over the contract, all Visa cards will eventually be accepted at Costco stores.
Citi was supposed to be taking over the Costco contract from American Express on April 1, and though in early February we learned that would be delayed,and that American Express cards would continue to be accepted at Costco stores until at least June.
Then in early March we found out the reason for this — American Express is selling their portfolio of Costco cardmembers to Citi in a billion dollar deal, meaning those with the Costco Amex will bear their card converted into a Costco Visa in the coming months. This will construct the transition easier for cardmembers, and since those who want to continue to bear a Costco credit card wont bear to apply for a new one.
We now bear information from Costco as to the timing of the transition from American Express to Citi:The post Costco Will Switch From Amex To Visa On June 20,2016 appeared first on One Mile at a Time.
Source: boardingarea.com