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Hmm.. I Wonder if USA will follow suite. Costco Amex & Capital One

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MyDataMyChoice
Valued Contributor

Hmm.. I Wonder if USA will follow suite. Costco Amex & Capital One

Here is an article

http://www.bloomberg.com/news/2014-09-18/capital-one-said-to-replace-amex-as-costco-canada-issuer.ht...

 

 

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! Smiley Happy )

 

I Wonder if USA Costco will switch to accept mastercard and switch to Capital One from AMEX.

 



Message 1 of 17
16 REPLIES 16
coldnmn
Mega Contributor

Re: Hmm.. I Wonder if USA will follow suite. Costco Amex & Capital One

Listed in credit in the news section already.

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Gardening Date 7/01/16 / MyFico 08: EQ 801 / TU 777 / EX 771 / 06/08/17
Message 2 of 17
waters
Regular Contributor

Re: Hmm.. I Wonder if USA will follow suite. Costco Amex & Capital One

That would be exciting and would open up a world of new customers to Costco USA.

Wonder when their current contract with Amex is up
6/2014; EX:621 EQ:627 TU:640
Cards: Capital One WORLD MC (QS): $7500 | Chase Freedom $3500
Sock: Merrick Bank $600 | Barclaycard $1250 | Sportsman's guide visa $2500

Message 3 of 17
waters
Regular Contributor

Re: Hmm.. I Wonder if USA will follow suite. Costco Amex & Capital One

News came out today costco is considering dropping amex in USA also
6/2014; EX:621 EQ:627 TU:640
Cards: Capital One WORLD MC (QS): $7500 | Chase Freedom $3500
Sock: Merrick Bank $600 | Barclaycard $1250 | Sportsman's guide visa $2500

Message 4 of 17
uswala
Senior Contributor

Re: Hmm.. I Wonder if USA will follow suite. Costco Amex & Capital One


@waters wrote:
News came out today costco is considering dropping amex in USA also

http://www.bloomberg.com/news/2014-11-06/costco-said-to-weigh-dropping-amex-as-u-s-card-partner.html...

Message 5 of 17
Anonymous
Not applicable

Re: Hmm.. I Wonder if USA will follow suite. Costco Amex & Capital One

Fingers crossed that they open their world to several card networks.
Message 6 of 17
Revelate
Moderator Emeritus

Re: Hmm.. I Wonder if USA will follow suite. Costco Amex & Capital One


@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.  




        
Message 7 of 17
Gunnar419
Valued Contributor

Re: Hmm.. I Wonder if USA will follow suite. Costco Amex & Capital One

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.

Message 8 of 17
Anonymous
Not applicable

Re: Hmm.. I Wonder if USA will follow suite. Costco Amex & Capital One

What if? Costco still took American Express but allowed Visa, Master Card and Discover... then you could keep your cards? Food for thought.
Message 9 of 17
b_diddy
Established Contributor

Re: Hmm.. I Wonder if USA will follow suite. Costco Amex & Capital One

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. ;-)

FICO Scores: EX 733 (1/17/15) EQ 761 (1/17/15) TU 750 (1/17/15)
     
      
Message 10 of 17
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