Back to Blog Home

Costco's New Credit Card is Better than Your Old One

monster1991 profile picture
March 25, 2016 · 239k Views
537
Shares

Update June 20, 2016

Costco Citi Visa is now accepted at Costco! Today (6/20) marks Costco Anywhere Visa's official launch in U.S. and Puerto Rico. 

Need more options? Read about the 5 Best Visa Cards for Costco Purchases and select one that best fit your weekly grocery runs. 

Official announcement from @VisaNews on Twitter 

Starting today:

  • Your old (AMEX) Costco credit card is no longer valid.
  • All previous balances and rewards will be transferred over to your new card.
  • Set up your Citi Online account to manage your new credit card today.

I haven't received my Costco Visa yet, what do I do?

For those who have not received their Costco Visa credit card in the mail, we recommend calling the customer service number on the back of your Costco American Express card for assistance. If you are not a Costco member and would like to sign up for a Costco Citi Visa, head over to citi.com to apply or apply by phone at 1-800-259-3052.


 

Costco citi visa

Source: CNN

Early last year, Costco announced an end to their partnership with American Express and introduced a new long term co-branded agreement with Citi Visa. The new co-branded card is set to replace AMEX in June 2016 and Costco just released their latest details on the new card.

The new Costco Anywhere Card will be mailed out to all current Costco AMEX cardholders (no need to apply) beginning May. Upon receiving the card, you have until June 19, 2016 to confirm. The Costco Citi Visa card will be valid for use starting June 20, 2016.

How are the rewards on the Costco Anywhere Visa Card is better than your old card?

Source: Bidness 

Compared to the American Express card, shoppers will benefit from the improved rewards program with the Visa card. All but one tier of cash-back rewards will increase:

  • 4% cash back on eligible gas worldwide, including gas at Costco, for the first $7,000 per year and then 1% thereafter (Compared to AMEX 3% cash back up to $4,000 per year)
  • 3% cash back on restaurant and eligible travel purchases worldwide (Compared to AMEX 2% back)
  • 2% cash back on all other purchases from Costco and Costco.com
  • 1% cashback on all other purchases
  • No annual fee with paid Costco Membership
  • Basic Costco Membership starts at $55 per year

In addition to cash-back rewards, Costco Anywhere cardholders will also receive:

  • Citi Private Pass - purchase tickets to latest concerts, sporting events, and more
  • Extended manufacturer's warranties on purchases made with the Costco Anywhere Card
  • Worldwide car rental insurance that protects you against theft or damage to a rental car when you pay with your Costco Anywhere Card and decline the company's collision loss/damage insurance
  • Damage and theft protection that covers the expense of repairs or a refund if purchases charged on your new card are damaged or stolen within 120 days of purchase

 

SEE ALSO:

Source: Grocery Network

 

What do I need to do with the new card?

Once you receive your new Visa card in the mail, you will find directions to confirm you've received it. After that, the one thing you may have to consider is transferring automatic payments that are already scheduled for your American Express over to your new Visa. 

If you're wondering if you need to do anything with your American Express account, don't worry. It will automatically be closed and stop working after June 19, and on June 20, the new Visa will be ready for use

Fortunately, not having to reapply for a new card means that you credit report won't be affected. Credit pulls have a negative impact on your credit score, which can determine your loan eligibility and interest rates in the future.

How do I manage payments with the new card?

Any cash-back rewards you have earned on your American Express card will be rolled over to the new card starting June 20th. You will receive your cash-back rewards coupon in February 2017, which will include the rewards you've earned on your Costco card from American Express during the first half of 2016. Once you start using your Costco Citi card, don’t forget to set up an online account with Citi (page will be valid in June) to manage your payments!

You can expect to receive information and updates from Citi about your new Costco Anywhere Visa Card starting April so keep an eye out for it in the mail.

You can head over to Costco’s Citi page for more details and they have included a slider feature for you to calculate how much potential cashback you earn with the new card.

Costco Citi Visa

Source: Costco

 

What do you think about the new Costco Citi Visa card?

 


 

RELATED NEWS:

 

monster1991 profile picture
I wanna be the very best like no one ever was. Couponing is my real test, to cut them is my cause. I will travel across the land, searching far and wide. Each store to understand, the discounts that's inside.
aztigers15Apr 15, 2016
so no apr interest charge for this?
Sullivc1Apr 09, 2016
Will any VISA card work or just a CITI VISA?
billyg35May 21, 2016
Costco will continue to accept American Express® Cards through June 19. Beginning June 20, Costco will accept only the following: Costco warehouses- all Visa cards, cash, checks, debit/ATM cards, EBT and Costco Cash Cards. Costco.com- all Visa cards, MasterCard, Discover, debit/ATM cards and Costco Cash Cards.
CrystalRS82May 22, 2016
You can shop at Costco starting on the 20th of June with any Visa, all will work, but only their new City Bank one will have those amazing cash back rewards.
timmonskristinApr 04, 2016
Love that it will automatically switch over-great new rewards
VavacoolApr 01, 2016
not bad
lcamposbravoMar 30, 2016
I love these wonderful news! More cash back is better :)
bigtom1Mar 29, 2016
Please get a store in St Cloud MN
realpaperMar 29, 2016
I have not received it yet but I love it already :)
TLWisnerMar 28, 2016
I like the Costco Amex, the Visa looks even better. Nice.
scorpion650Mar 27, 2016
I might just have to get me one of these CCs.
savealwaysMar 28, 2016
I'm definitely going to get one! Been waiting more than a year for details since the news broke.
DragonMaster25Mar 25, 2016
AMAZING!

Related Posts