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Currently Costco accepts AMEX in USA
They also have Capital One issued (PLCC) Cards. (Personal and business) (and the business is revoling no PG by the way! )
I Wonder if USA Costco will switch to accept mastercard and switch to Capital One from AMEX.
Listed in credit in the news section already.
@waters wrote:
News came out today costco is considering dropping amex in USA also
@Anonymous wrote:
Fingers crossed that they open their world to several card networks.
If I had to guess they manage to negotiate a discount based on sole source. Doesn't seem likely, I sort of wonder why more retailers don't do something similar? Doesn't seem to hurt business, I had the misfortune of accidentally driving through the Costco parking lot on a Sunday: 15 minutes of my life later just getting to the other side, during which I saw plenty of cars trying to find parking.
Anybody have any idea what would happen to the co-branded Amex True Earnings card if Costco did switch in the U.S.? Would it just cease to exist and all TE holders lose a tradeline? Or would Amex be able to continue the card without the Costco connection? Would Amex just switch TE cardholders to some other card in the Amex lineup?
The potential for the card just disappearing is a worry for me. My Amex TE is one of my biggest tradelines and the backdate on it is huge. OTOH, I can see why Costco and Costco customers might benefit by a switch to MasterCard or some other vendor.
Ah ha ... but then Costco wouldn't be able to leverage the "exclusive" opportunity to negotiate low transaction rates and pit the credit card companies against each other in the bidding process. ;-)