Effective April 1, 2016, Costco will no longer accept Amex cards and will start accepting Citibank Visa. Visa would replace American Express as the credit card network for Costco in the U.S. and Puerto Rico on the same date. More than likely, you will be able to switch your current Amex Costco card to another Amex card with more details coming soon. There are rumors with a coming of a new Citi Costco co-branded Visa credit card. It doesn’t matter because you can pay with any Visa card at Costco. For those living in Canada, Costco has recently switched from AMEX to MasterCard and Capital One.
Costco News Highlights:
- Starting 4/1/2016, Costco will no longer accept AMEX cards
- Costco is forming a partnership with Visa and Citi in the U.S and Puerto Rico stores.
- Since Citi bought out existing co-brand portfolio from American Express, current Amex Costco cardholders most likely to be converted to Citi.
I believe this is good news for members of Costco due to the fact that many people carry a Visa card in their wallets. Unlike Amex cards, most Visa cards have no annual fee. This would be extremely convenient of having a Visa credit card for Costco members.