topic Re: Reaction to the Costco conversion from Amex to Visa in Credit Cards

Reaction to the Costco conversion from Amex to Visa

Anonymous — Tue, 23 Feb 2016 06:24:13 GMT

I've been really curious how cardholders feel about this. I'd enjoy reading replies from people who have the Costco Amex and their thoughts and feelings about the conversion.

Re: Reaction to the Costco conversion from Amex to MC

Anonymous — Tue, 23 Feb 2016 06:03:57 GMT

I didn't have a Costco AmEx, so my only reaction, is good, I can use one of my several MC there.

Re: Reaction to the Costco conversion from Amex to MC

lg8302ch — Tue, 23 Feb 2016 06:05:53 GMT

I do not have the Costco AX and use SPG or BCE but now I am already Costco ready with my Fidelity Rewards Visa

Re: Reaction to the Costco conversion from Amex to Visa

UncleB — Tue, 23 Feb 2016 06:24:08 GMT

@Anonymous wrote:
I've been really curious how cardholders feel about this. I'd enjoy reading replies from people who have the Costco Amex and their thoughts and feelings about the conversion.

Just to clarify, Costco is changing to Visa, not MasterCard.

You might want to edit your post and update the subject to indicate this - that will correct how the thread appears on the forum.

Otherwise your thread will get 'watered-down' with posts from folks correcting you instead of thoughts on the conversion.

(If you have trouble a mod can help.)

Re: Reaction to the Costco conversion from Amex to Visa

Anonymous — Tue, 23 Feb 2016 06:24:40 GMT

@UncleB wrote:
@Anonymous wrote:
I've been really curious how cardholders feel about this. I'd enjoy reading replies from people who have the Costco Amex and their thoughts and feelings about the conversion.
Just to clarify, Costco is changing to Visa, not MasterCard.

You might want to edit your post and update the subject to indicate this - that will correct how the thread appears on the forum.
Otherwise your thread will get 'watered-down' with posts from folks correcting you instead of thoughts on the conversion.

(If you have trouble a mod can help.)

Nice catch.

Re: Reaction to the Costco conversion from Amex to Visa

Anonymous — Tue, 23 Feb 2016 06:28:06 GMT

I thought you were referring to the Canadian switch from amex to MasterCard which happened last year, under written by capital one.

For the most part, people loved it, although they had to apply for the new card, as the portfolio was not carried over.

The new Canadian Costco MasterCard has the exact same rewards as the old Canadian Costco amex

Re: Reaction to the Costco conversion from Amex to Visa

takeshi74 — Tue, 23 Feb 2016 14:28:58 GMT

@Anonymous wrote:
I've been really curious how cardholders feel about this.

Don't overlook the existing discussions on the topic. There have been many threads on this.

https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&es_th=1&ie=UTF-8#q=costco%20amex%20citi%20site%3Aficoforums.myfico.com

I'm not too worried about it but my TE is backdated so it reports as 17 years old and I'd like to keep a tradeline with that age if it works out one way or another. The limit is also something I'd like to keep if possible. Not too concerned about keeping a cobranded Costco card. The TE provides little benefit to us in terms of rewards on spend and we don't shop at Costco any more. Once this all settles I'll be terminating my membership.

Re: Reaction to the Costco conversion from Amex to Visa

youdontkillmoney — Tue, 23 Feb 2016 14:27:54 GMT

I don't like it since I try to exclusively use AMEX all the time, but I don't go to Costco often anyway

Re: Reaction to the Costco conversion from Amex to Visa

EdMan63 — Tue, 23 Feb 2016 14:37:33 GMT

My DW has a business AmEX TE dated back to 1994 as she used to do a lot of catering. She recently decided to close it out and got a BCE with a backdate of 1994. She even added me as an AU but when the card arrived and it wasn't backdated for me since AmEx doesn't backdate the AU card, I had her cancel it. I just got a QS and don't want another new account posting to my CR. Whether or not she gets the Citi card I don't know. Either way she is an AU on my CSP and she can just use that for Costco.

Re: Reaction to the Costco conversion from Amex to Visa

UncleB — Tue, 23 Feb 2016 14:46:41 GMT

@EdMan63 wrote:
My DW has a business AmEX TE dated back to 1994 as she used to do a lot of catering. She recently decided to close it out and got a BCE with a backdate of 1994. She even added me as an AU but when the card arrived and it wasn't backdated for me since AmEx doesn't backdate the AU card, I had her cancel it. I just got a QS and don't want another new account posting to my CR. Whether or not she gets the Citi card I don't know. Either way she is an AU on my CSP and she can just use that for Costco.

I hate to be the bearer of bad news, but unless your DW got her BCE before March of last year, the only thing backdated is the 'Member Since' date on her physical card, not the actual account.

I got my own current Amex accounts in April 2015; each time I log in to the Amex site I'm greeted as "Member Since 1995", but my accounts report the actual opening date of 4/2015. I missed 20 years of backdating by three weeks.

Re: Reaction to the Costco conversion from Amex to Visa

TiggerDat — Tue, 23 Feb 2016 15:37:47 GMT

Waiting patiently to find out the rewards structure. I am a bit happy I don't have a CostCo Amex as I am uncertain how this conversion will go since there seems to have been a few snags. I wonder if the cards do get transferred over to Citi, will the date of opening be the new card or the Amex date? Also, what if you got the account backdated when Amex did that and will Citi still honor that? Is that one of the issues that Citi is running into with moving the accounts over? Is the backdating interfering with the computer looking at the account opening date being different from the backdating? Is the computer saying, "Does not compute?" Will we have a HAL9000 issue because of this?

Re: Reaction to the Costco conversion from Amex to Visa

celluloid17 — Tue, 23 Feb 2016 15:54:54 GMT

I wish Costco would have went with MC instead of Visa in the US, then I could use my Citi Double Cash. I'm sort of indifferent to the change in general and I'm not sure I'm even going to keep a Costco cobranded card, especially if it only offers 1% back on Costco spend. I have a Fidelity Amex that I'm waiting for to be automatically converted to the Visa version later this year and that will probably become my defacto Costco credit card (although, I don't even know if I want to keep that card either).

Re: Reaction to the Costco conversion from Amex to Visa

Anonymous — Tue, 23 Feb 2016 18:34:27 GMT

@celluloid17 wrote:
I wish Costco would have went with MC instead of Visa in the US, then I could use my Citi Double Cash. I'm sort of indifferent to the change in general and I'm not sure I'm even going to keep a Costco cobranded card, especially if it only offers 1% back on Costco spend. I have a Fidelity Amex that I'm waiting for to be automatically converted to the Visa version later this year and that will probably become my defacto Costco credit card (although, I don't even know if I want to keep that card either).

You can always get the Fidelity 2% Visa or a CapOne QS Visa for 1.5% back.

Re: Reaction to the Costco conversion from Amex to Visa

Anonymous — Tue, 23 Feb 2016 18:35:59 GMT

@Anonymous wrote:
I've been really curious how cardholders feel about this. I'd enjoy reading replies from people who have the Costco Amex and their thoughts and feelings about the conversion.

Meh. The old card's rewards weren't great and the new card's rewards are the same blasé rewards as the old one. There needs to be a napping smiley for occassions like this.

Re: Reaction to the Costco conversion from Amex to Visa

EC341 — Fri, 04 Mar 2016 01:45:42 GMT

Hi;

I recently got the Amex Blue Cash Everyday they were offering every time I logged on. I got the same 20K credit line I have with the Costco card. When the Costco card is cancelled in June, will I be able to add the Costco credit line to my new BCE making it 40K, or no, since I got a new card to replace it? And what happens if I have a balance on my Costco card. Does that get transfered over to BCE?

Thanks

Re: Reaction to the Costco conversion from Amex to Visa

EddieK — Fri, 04 Mar 2016 02:54:20 GMT

I have a TE's card, but am indifferent to the switch. I won't be switching my TE to a BCE as I already have two other Amex cards. As for the new Citi card, it doesn't matter to me as I'm not a Citi fan.

Re: Reaction to the Costco conversion from Amex to Visa

EC341 — Sun, 06 Mar 2016 15:53:42 GMT

I found the answer on their site. If you have a balance on your Amex Costco card, it will be tranferred to your new account with Citibank. You will not be required to pay your balance in full to Amex when it is transferred to Citibank. So if you don't want the new Citibank card, make sure you have a zero balance on your AMEX costco card.

Re: Reaction to the Costco conversion from Amex to Visa

quizzert — Tue, 08 Mar 2016 22:42:08 GMT

How to stop getting the new citi visa card? I have the costco amex TE card and dont want to get the citi visa one.

I will use some other visa card.

Is there a way to PT the costco amex to amex everyday cash or some other amex without HP.

Thanks

Re: Reaction to the Costco conversion from Amex to Visa

deltatee — Tue, 08 Mar 2016 23:50:57 GMT

I personally am not terribly pleased at the moment. I think it is mostly because the TE was my only amex, and I am not happy about taking a HP and an AAOA hit to accept their BCE offer to stay with Amex. Also, the TE rewards are worthless to me. The only reason I kept it was to use at Costco and because it was my only amex. I'm also not optimistic about the Citi card. I don't need another Visa and certainly not with lackluster rewards. Therefore, I anticipate moving my TE limit to my new BCE then closing the card.

Ultimately though, I think I'll actually be pleased with the change. The BCE is a much better card for me, and I can start earning more rewards on my Costco spend.

Re: Reaction to the Costco conversion from Amex to Visa

slicemans — Wed, 09 Mar 2016 00:01:08 GMT

I will ending up closing because there are better cards to use. I go there moslty for gas.