AMEX Costco card

[thelethargicage]

Costco only takes Amex. Any Amex card works there, even those issued by third parties like FNBO.

[srchick]

Thanks much for the rapid response. 

[celluloid17]

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@Open123 wrote:

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@thelethargicage wrote:
If those turn out to be the rewards on this card, Citi will curse the day they got mixed up with Costco. After all, they're only getting 0.4% of every transaction at Costco. I doubt that card will get much 1% spending, even at Costco.

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Citibank is the worst run of all the major American Banks, and it would be a mistake to underestimate their propensity to make financially cancerous deals.  While it's universally accepted that their stupidity knows no bounds, not even they would be dumb enough to offer 5/3/2 on a no annual fee card.  

Just curious, how do you know they're only getting 0.4%?

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I don't necessarily disagree with the sentiment of your post, but this will be far from disastrous for Citi.  A lot of people use their current TE as a daily driver, not just at Costco (as it stands, the Amex variant only gives 1% back for actually shopping at Costco) and I imagine the same will apply for the Costco Citi card.  What Citi is primarily getting in this deal is access to a large pool of relatively affluent clients.  Studies have shown that most Costco members earn over $100k a year and for the non credit jugglers out there, they will simply be looking for another card that can serve multiple functions along with the added convenience of being accepted at Costco (complete with photo - another layer of security other cards don't have).  It would behoove Citi to keep those people in their product(s) by offering a competitive reward structure on their new Costco co-brand, especially now that their card(s) will be competing with every other Visa in a person's wallet.

[takeshi74]

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@Anonymous wrote:

This may have been covered already. If so, apologies in advance.

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@Anonymous wrote:

You can only apply online for another product if you want to replace having that one which I believe probably entails a new HP.  Good information to have but I am surprised that AMEX isn't offering some type of replacement if you are in good standing with them.

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There have been many threads on the fate of the TE, possible replacements and the BCE offers that TE holders have been receiving.

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

As SunriseEarth said, the situation with the portfolio is still pending despite all the rumors and speculation.

[BUN]

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@srchick wrote:

Not to hijack the thread, but I'm planning on doing some shopping at Costco in the next couple of weeks.  Exactly what cc's can I use for my purchases? (Don't have AMEX, but wondered if I can use my FNBO?) Anybody please respond.

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As long as you have a membership, debit cards work as well as cash of course. My new Amex with offer came with backdating member since 2014, and with a SP, Don't accept any less.

[fury1995]

Member since dates on new Amex accounts are meaningless.

[Creditaddict]

My understanding from conversations with reps this morning that the Costco Card later this year will be offered to PC into a Blue of some sorts.

I don't believe for a second that those Amex card holders that might not have any other products from Amex besides Costco but use Costco card as daily go to card that amex will just close them down and walk away!!! that would be insane.

[willwar14]

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@Creditaddict wrote:

My understanding from conversations with reps this morning that the Costco Card later this year will be offered to PC into a Blue of some sorts.

I don't believe for a second that those Amex card holders that might not have any other products from Amex besides Costco but use Costco card as daily go to card that amex will just close them down and walk away!!! that would be insane.

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+1

[Anonymous]

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@takeshi74 wrote:

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@Anonymous wrote:

This may have been covered already. If so, apologies in advance.

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@Anonymous wrote:

You can only apply online for another product if you want to replace having that one which I believe probably entails a new HP.  Good information to have but I am surprised that AMEX isn't offering some type of replacement if you are in good standing with them.

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There have been many threads on the fate of the TE, possible replacements and the BCE offers that TE holders have been receiving.

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

As SunriseEarth said, the situation with the portfolio is still pending despite all the rumors and speculation.

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That was yesterday; believe what she said or don't.

[Anonymous]

My 2 cents says take the most feedback from Racer609 at this point as he is somewhat on the inside.

My 2 cents also says Costco Am Ex cardholders should consider calling Am Ex up and letting them run through a BCE app for you, hp or not,  if you don't already have one, so you are already locked in with Am Ex no matter what route gets taken. They most likely already have one preapproved for you. Just call.

I did just that.