@Anonymous wrote:Hi everybody. I have a costco truearning with amex and I got a letter saying they are ending that card in march next year. I was talking to some people I know and they told me to make sure I get another amex card (costco was my only one with them). They didn't explain why and I know they don't know as much about credit as some of you all in here. Do I really need to get another credit card with amex? I don't see the purpose as not everywhere accepts them and I don't want to pay an annual fee so their cashback cards are not much different than anywhere else. However, my total credit limit is 20,000 and my costco is the bulk of that, being 6000. My credit limits will take a big hit. Is their a way I can get a card with them and ask to just transfer my credit limit over? Or is it not worth it.
May I ask what your FICO scores are? Also, if you have any baddies.
It's really easy to break 6K with Amex. Got mine 2/14 approved at 4500 and it's currently over 18K and i'm pending income verification for more at this moment.
Must garden until 2/1/2022 to hit my goal AAOA. 
@Anonymous wrote:There is a thread around here that explains this. I think your card will be change to a different type of card since it wont be a costco card anymore. Also, Citibank is taking over the contract with cotsco. You will no longer be able to use AMEX at cotsco.
"Costco will accept only Visa credit cards at its stores starting April 1, 2016. Customers also will be able to use Visa and MasterCard debit cards or pay in cash. American Express credit cards no longer will be accepted on that date. That’s a hit to AmEx. Last year, Costco accounted for 8 percent of American Express billed business, 10 percent of its cards in force and 20 percent of its worldwide loans."
Did not know that peice of information. That's terrible that they're not taking Amex anymore at all...that's one of the few places where the retailer is barely affected by Amex's fee. The fact that McDonald's will accept Amex for a cheeseburger and Costco won't for a bulk purchase really is loopy.
I wonder who will win in this case? Will Amex cardholders simply stop going to Costco and use BJ's, Sam's Club, or other wholesalers? Will Costco members who have Amex cards simply use other cards? Very interesting this has become. One thing is to drop your partnership, another is to drop a payment method altogether. I think the impact will be minimal but my gut is that Costco will be hurt more than Amex.
@Anonymous wrote:No baddies, scores are good, (760+ accross the boards), however low AAOA only 2 years but oldest account is 6 years. Also I have 9 inquiries, but only 1 inquiry in the past year. The other 8 are over a year old, not sure if that makes it better.
It does make a difference that most of them are over a year old and 1 is 6 years old. Helps much. Your scores are also very good. 