LindaH Posted February 6, 2016 Report Share Posted February 6, 2016 The switch won't happen until June or later: http://www.bizjournals.com/seattle/blog/2016/02/costco-credit-card-switch-delayed.html Link to comment Share on other sites More sharing options...
lasttruck Posted February 6, 2016 Report Share Posted February 6, 2016 Hopefully not too much longer. My AMEX Costco card expires in June. Link to comment Share on other sites More sharing options...
LindaH Posted February 6, 2016 Author Report Share Posted February 6, 2016 I would imagine that Amex would send you a new card if the transition isn't complete by the time your card expires (?). Link to comment Share on other sites More sharing options...
lasttruck Posted February 6, 2016 Report Share Posted February 6, 2016 They may, but would be pretty much worthless after the transition. Already have a replacement Amex card. Link to comment Share on other sites More sharing options...
Darryl&Rita Posted February 6, 2016 Report Share Posted February 6, 2016 Already a done deal in Canada. Link to comment Share on other sites More sharing options...
skp51443 Posted February 6, 2016 Report Share Posted February 6, 2016 Some good links to follow in the page linked to in the original post. AMEX has been a decent card for us but it just isn't worth keeping once Costco drops it, we'd only use it a couple times a year and one of our other cards will work just fine as a replacement for the times we'd have used it only with a bit smaller rebate. We'll look carefully at the Costco / Citi offer and see if it gives us enough more than our current Visa card before deciding to add it to our collection or switch to it. Link to comment Share on other sites More sharing options...
lenp Posted February 7, 2016 Report Share Posted February 7, 2016 Have had an AMEX Cash Rewards card for nearly 10 years now - no fee and no interest when I pay it off every month. I use if for EVERYTHING and get a few hundred back is cash rewards every year. Well worth keeping in my mind. Lenp Link to comment Share on other sites More sharing options...
LindaH Posted February 7, 2016 Author Report Share Posted February 7, 2016 Have had an AMEX Cash Rewards card for nearly 10 years now - no fee and no interest when I pay it off every month. I use if for EVERYTHING and get a few hundred back is cash rewards every year. Well worth keeping in my mind. If you're talking about the Amex card that's linked to Costco, it's my understanding that you won't be able to use it after Costco's deal with Citi/Visa is finally a done deal. Link to comment Share on other sites More sharing options...
lenp Posted February 8, 2016 Report Share Posted February 8, 2016 Linda, You are correct but I am still keeping my AMEX card! I like the rewards! Lenp Link to comment Share on other sites More sharing options...
LindaH Posted February 8, 2016 Author Report Share Posted February 8, 2016 You are correct but I am still keeping my AMEX card! I like the rewards! What I meant by "you won't be able to use it," is that the card is going to go away for all uses, not just at Costco. If you want to stick with an Amex card, you'll have to switch to one of their other cards. At least that's been my understanding from all the articles I've read. Link to comment Share on other sites More sharing options...
lenp Posted February 9, 2016 Report Share Posted February 9, 2016 Sorry Linda, I neglected to say this is not a Costco branded card - just an AMEX cash rewards card that anyone can get and I use everywhere AMEX is accepted. It gives 5% cash back on gas, groceries and pharmacy purchases but only at stand alone gas stations (not Walmart or other grocery stations) and 1% on everything else. Sorry for the confusion. Lenp Link to comment Share on other sites More sharing options...
skp51443 Posted February 9, 2016 Report Share Posted February 9, 2016 Len, Do you get the Costco rebates on your non-Costco Amex card when you shop there?For anyone, I'm going to have the same question when it comes to the new Visa, if I use my existing Visa at Costco rather than using theirs will it qualify for the rebates and discounts? Link to comment Share on other sites More sharing options...
WeBeFulltimers Posted February 9, 2016 Report Share Posted February 9, 2016 Have had an AMEX Cash Rewards card for nearly 10 years now - no fee and no interest when I pay it off every month. I use if for EVERYTHING and get a few hundred back is cash rewards every year. Well worth keeping in my mind. Lenp The same things can be done with MOST cards. None of them charge interest when paid in full monthly by due date. Link to comment Share on other sites More sharing options...
DJW Posted February 9, 2016 Report Share Posted February 9, 2016 Stan I think that the Citi Visa Card will have it's own reward program within Costco but they will now accept any Visa and of course you will collect what ever rewards that are associated with that card. Your Costco Executive Card Membership rebate for the 1 percent is not tide to the AMEX. I get two rewards check a year one from each. Almost $400 this year and we don't even have a Costco in Arkansas. Come April of 2016 we will have a Costco in Tulsa, Ok which is the next state west. The first one in OK. 124.5 miles door to door. Dennis Link to comment Share on other sites More sharing options...
2gypsies Posted February 9, 2016 Report Share Posted February 9, 2016 Cash Back Reward Cards are great. We average $500 back/year with our Visa and pay off everything monthly so no interest. We charge everything. It'll be nice to be able to use our Visa at Costco instead of AMEX which we never use outside of Costco now. Link to comment Share on other sites More sharing options...
Smitty77_7 Posted February 9, 2016 Report Share Posted February 9, 2016 Two sides to every story. But this has been a cluster from both companies perspectives: 1) Costco = Poor communication on what is going on. And for sure and inconvenience to their members. 2) AE = Costco AE Memership being 10% of your business base, you do all that you can to retain that large of group. Usually this comes down to two stories. One is always about money. Costco probably wanted more of the action/kickback from AE. And AE probably wanted to retain a larger piece of the hunk too. And two, is the ego's of those that are the decision makers. Does not matter who was right/wrong on this one - as IMO, they both lose... AE will lose the significant hunk of their Costco generated AE holders. and Costco will have some of their membership ticked off - as many just do not like change. And, many do not want yet another credit card in their wallets.... Doubt we'll ever know what really happened on this one, Smitty Link to comment Share on other sites More sharing options...
lenp Posted February 10, 2016 Report Share Posted February 10, 2016 Stan, Yes the AMEX rebates are in addition to my executive membership rebates. Lenp Link to comment Share on other sites More sharing options...
Velos Posted February 23, 2016 Report Share Posted February 23, 2016 I received a letter 6/2/2015 from AMX saying I could use the Costco branded AMX until 3/31/2016. I just came across this article today dated January 29, 2016: https://www.nerdwallet.com/blog/credit-cards/costco-amex-cardholders-get-new-card-number-not-new-account/ Here is a partial excerpt: Costco announced last year that it was changing its co-branded credit card from an American Express to a Visa issued by Citi. Citi is expected to purchase AmEx’s TrueEarnings credit card portfolio by March 31. In that transaction, Citi will acquire the accounts of existing Costco cardholders, including information about debt owed and credit ratings. Current holders of the TrueEarnings® Card from Costco and American Express will get a new card — a Visa — as well as a new card number, because Visa and AmEx have different account-naming conventions. But it will likely show up as the same old account on your credit report.If you have the TrueEarnings® Card from Costco and American Express, you’ll probably get a new card in the mail from Citi and Costco sometime this summer, according to an SEC filing from Costco. But you won’t have to apply for the new card, and it probably won’t result in a separate entry on your credit reports. I have looked at the SEC filing (that is referred to and linked to the article above) in the past; it is lengthy and full of legaleze but if you scan it there is a lot of info about what is going on. Link to comment Share on other sites More sharing options...
Scion Gypsy Posted February 24, 2016 Report Share Posted February 24, 2016 Not a big deal imo. I remember COSTCO before they took AMEX. My credit union VISA has a great rewards program that is better than what the AMEX is now--I'll go that route rather than a new COSTCO Visa card. Link to comment Share on other sites More sharing options...
Ron Posted March 29, 2016 Report Share Posted March 29, 2016 A little new information on the Costco transition From AMEX to VISA: Beginning June 20, Costco stores will accept the Citi Visa, as well as all other Visa cards, along with cash, checks, and debit cards but not AmEx cards. After June 19, Costco-branded American Express cards will become invalid at all merchants. But the new Visa cards will yield bonuses for Costco shoppers. All Costco AmEx holders will receive a new Citi Visa in the mail in May or June and don't need to apply for the new card. Through the Visa, cardholders will receive significant savings such as cash back on gasoline purchases of 4%, versus 3%; a 3% bonus on restaurant and travel; 2% cash back on all Costco purchases; and 1% on everything else. The new situation appears to be a win-win for Costco and shoppers alike. Increased shopping rewards equal increased customer loyalty. The entire article can be found here. Link to comment Share on other sites More sharing options...
lasttruck Posted June 9, 2016 Report Share Posted June 9, 2016 Received our new Citi Costco Visa cards yesterday. Same credit limit. Chipped, however, the numbers and other information that used to be raised for running in the old carbon copy type machines has very little texture. Guess that is really old school now. Same expiration date as our Costco Amex cards that had been renewed last month. Link to comment Share on other sites More sharing options...
LindaH Posted June 9, 2016 Author Report Share Posted June 9, 2016 We also got our new VISA Costco card earlier this month. I'll be glad to get rid of the Amex card because not all places accept Amex, so we have had to carry two credit cards. Now we'll only have to carry the one. Link to comment Share on other sites More sharing options...
Barbaraok Posted June 9, 2016 Report Share Posted June 9, 2016 We also got our new VISA Costco card earlier this month. I'll be glad to get rid of the Amex card because not all places accept Amex, so we have had to carry two credit cards. Now we'll only have to carry the one. We always carry two, Dave has one, I have the other. That way when (not if anymore) one card is compromised we have another to use. Link to comment Share on other sites More sharing options...
2gypsies Posted June 9, 2016 Report Share Posted June 9, 2016 We have one card used solely for automatic deductions. Our other card is used for restaurants, groceries, store shopping and online purchases. If that card is compromised at least we don't have to change our automatic deduction account number to a new card. We never used American Express except for Costco shopping and gas. Not sure what we'll do now with the new Costco Visa. Our other cards give us good cashback. Link to comment Share on other sites More sharing options...
LindaH Posted June 9, 2016 Author Report Share Posted June 9, 2016 We always carry two, Dave has one, I have the other. That way when (not if anymore) one card is compromised we have another to use. Oh, we have more than one credit card, but I don't like carrying more than one in case my purse or DH's wallet is lost or stolen. Since we'll want to use our new Costco VISA card for everything, for me to carry one card and DH a different card defeats the purpose of having everything on one card. Link to comment Share on other sites More sharing options...
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