Citibank gets Costco Credit Card Deal

[Anonymous]

I was so hoping they'd go with Cap One MC like in Canada...well here's to hoping I can get my scores in order to get some Citi CC love by next year.

[thom02099]

More information from the Wall Street Journal:

Citi Replacing AMEX

From the article, it states the agreement is with Citi to provide the co-branded card, and Visa to provide the processing network. Both are named as new credit partners, and confirms that the agreement with AMEX ends in April of 2016.

ETA:  Since it's an exclusivity agreeement that AMEX has with Costco, it's highly doubtful that AMEX would give up ANYTHING prior to April 2016.  The thought crossed my mind that perhaps the new agreement would run concurrent with the remaining year of the AMEX contract and that both AMEX and Visa would be accepted for a year, but I just don't see AMEX agreeing to that at all.  As far as any early termination of the contract with AMEX, seems to me that AMEX has the controlling interest there. 

[thelethargicage]

First reaction, ""meh". Although I'm not surprised they went with Citi--they did after all recently acquire the US Airways co-branded cards from Barclays (or something to that effect).

Looks like my QS will be getting a bit more use next year.

I can just picture the brand new, ground-breaking "TryEarning" Platinum Visa card from Citi and Costco, which rewards your Costco purchases with Citi's patented, god-awful FU Points rewards program. Spend $10K at Costco and get a $10 statement credit.

[thelethargicage]

I bet Citi's glad DC is a MC and not a Visa.

[thom02099]

Additional.  This article from Fortune, is more focused on Visa as the network, rather than Citi as the co-branded issuer:

Visa Wins Costco

Addendum:  I think it was a disservice for moderator movement of this from the Credit Card forum to the In The News forum.  Just my opinion.

[thelethargicage]

---

@thom02099 wrote:

Additional.  This article from Fortune, is more focused on Visa as the network, rather than Citi as the co-branded issuer:

Visa Wins Costco

Addendum:  I think it was a disservice for moderator movement of this from the Credit Card forum to the In The News forum.  Just my opinion.

---

+1

It's gonna die a slow death in this forum.

[vAirGo7]

So the winner is Citibank.  Can't wait to see the new visa card design.

[Creditaddict]

---

@vAirGo7 wrote:

So the winner is Citibank.  Can't wait to see the new visa card design.

---

WOW

[yfan]

---

@Anonymous wrote:

Citi + Visa, according to CNBC.com. Sounds like no DC for us. 

---

I wonder if a Mastercard Double Cash can be converted to a Visa. I don't see why Citi wouldn't do it.

[starry1]

So can I use a Visa at Costco now, or are they only taking Visas issued by Citi?