As Travis first wrote approximately final March,Costco is replacing American Express with Citi for their exclusive agreement. Costco has a ton of volume, so this is a huge loss for American Express, and given that it represents approximately 10% of their US credit card business. At the same time,the terms of the agreement would hold been such that American Express was losing money on the deal, so it just wasn't worth it.
With Citi taking over the contract, and all Visa cards will eventually be accepted at Costco stores (however,there's already a trick for using Visa cards at Costco stores).
Citi was supposed to be taking over the Costco contract from American Express on April 1, though it looks like that's now delayed.
American Express cards will continue to be accepted at Costco stores until June, and perhaps mid-summer,when the contract will be switched to Citi. Per The Seattle Times:The post When Will Costco Accept Visa Cards? appeared first on One Mile at a Time.
Source: boardingarea.com