• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

'Skills nobody can take': Meet a 20-year-old with a 4.5 GPA who skipped college for technical school to land an 'AI-proof' career

3

China suffers another setback in effort to de-dollarize global finance as anchor in the greenback's dominance quietly exits Beijing's payment scheme

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

'Skills nobody can take': Meet a 20-year-old with a 4.5 GPA who skipped college for technical school to land an 'AI-proof' career

3

China suffers another setback in effort to de-dollarize global finance as anchor in the greenback's dominance quietly exits Beijing's payment scheme
RetailCostco

Here’s What You Need to Know About Costco’s Switch From AmEx to Visa

By
Michal Addady
Michal Addady
Down Arrow Button Icon
By
Michal Addady
Michal Addady
Down Arrow Button Icon
June 20, 2016, 1:01 PM ET
Google source logo
Add Fortune on Google for similar content.

After a 16-year relationship with American Express (AXP), Costco (COST) has officially moved on with Visa (V).

The discount wholesaler announced its new partnership with Citigroup (C) last year, which made the company the exclusive issuer of Costco co-branded credit cards, and American Express was replaced with Visa as the retailer’s credit card network. Sunday was the last day to use the Costco TrueEarnings American Express, and Monday was the first time customers could break out their new Costco Anywhere Visa Card by Citi, Consumerist reports.

The AmEx cards have been automatically canceled, and Costco members should have already received their new Visa cards in the mail. It’s now the only credit card accepted at Costco stores, though customers will also be able to make purchases with both Visa and MasterCard debit cards.

Fortune previously reported that the new Visa card is a step up from the TrueEarnings American Express. Cash-back rewards increased to 3% on restaurant and travel purchases, and to 4% on up to $7,000 spent on gas. Technically there’s no fee for the card, though you still need to pay your $55 annual Costco membership fee.

 

The more generous Visa could help Costco attract new customers, helping it combat recent efforts by Sam’s Club to steal shoppers away.

About the Author
By Michal Addady
See full bioRight Arrow Button Icon

Latest in Retail


Most Popular

Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

    Latest in Retail


    Most Popular

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.