Citi Costco Card

[wasCB14]

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@Andypanda wrote:

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@Anonymous wrote:

I've also heard of people who cancel their Costco membership and their card not being cancelled immediately, but a few months later.

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Probably takes that long for citi's system realize that there is no Costco membership associated with the account.

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It's possible there's some intentional lag. They have a non-subprime customer who might use the card but earn nothing in rewards.

Of course, many would SD the card because of the lack of rewards...and a SDed card in an economic boom can quickly become a massive credit loss in a downturn, especially one with a perhaps unprecedented spike in unemployment.

[Aim_High]

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@CBrow wrote:

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@Gunnerboy wrote:

Yes, it'll be cancelled immediately, and he'll probably lose his cash-back rewards.

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Correct. He will forfeit all cash back accrued YTD.

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I have the CITI Costco and still use it although it used to get more regular dining/travel spend before my CSR.

Potentially losing significant rewards by not planning Costco membership closure is a real pitfall to avoid.  As much as I like Costco and plan to keep my membership, there are several disadvantages to their cash back program. I dislike CITI keeping the accrued cash-back for a full year, I dislike having to cash a paper check (that is easily misplaced) only in Costco, and I dislike not getting the additional 2% for spending on my card if I take the easy route and apply the check to new purchases at the register.    They don't make it easy to get paid or to get the full 2%.

[Gunnerboy]

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@Aim_High wrote:

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 I dislike CITI keeping the accrued cash-back for a full year, I dislike having to cash a paper check (that is easily misplaced) only in Costco, 

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Did you get your rewards certificate in an email?

[Anonymous]

I got mine via snail mail and email.

[Aim_High]

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@Gunnerboy wrote:

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@Aim_High wrote:

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 I dislike CITI keeping the accrued cash-back for a full year, I dislike having to cash a paper check (that is easily misplaced) only in Costco, 

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Did you get your rewards certificate in an email?

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I don't do e-statements.  I'm old-school and like my paper so it comes that way.  But for those with e-statements, don't you still have to print it and carry it into Costco to cash it?  Or do they send it separately?

[wasCB14]

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@Aim_High wrote:

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@Gunnerboy wrote:

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@Aim_High wrote:

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 I dislike CITI keeping the accrued cash-back for a full year, I dislike having to cash a paper check (that is easily misplaced) only in Costco, 

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Did you get your rewards certificate in an email?

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I don't do e-statements.  I'm old-school and like my paper so it comes that way.  But for those with e-statements, don't you still have to print it and carry it into Costco to cash it?  Or do they send it separately?

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They do both. Paper check in the USPS mail and printable check via email.

Either way, you still need to carry a piece of paper into Costco.

[Gunnerboy]

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@Aim_High wrote:

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I don't do e-statements.  I'm old-school and like my paper so it comes that way.  But for those with e-statements, don't you still have to print it and carry it into Costco to cash it?  Or do they send it separately?

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I just showed the email from my phone and they scanned the bar code.

[Anonymous]

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@Gunnerboy wrote:

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@Aim_High wrote:

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I don't do e-statements.  I'm old-school and like my paper so it comes that way.  But for those with e-statements, don't you still have to print it and carry it into Costco to cash it?  Or do they send it separately?

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I just showed the email from my phone and they scanned the bar code.

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I also showed them the email and received everything.

[SouthernCredit]

You can redeem the rewards via the Citi app, email, or paper certificate. There is also a separate check/award that comes for executive members.

OP - if he's hellbent on cancelling before he can redeem the rewards, I would tell him to call Citi prior to cancelling his membership and request a product change to something else in Citi's lineup, with the DC or Simplicity the likely candidates. That would allow him to retain the product and positive trade history without being tied to Costco.

[Wavester64]

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@SouthernCredit wrote:

You can redeem the rewards via the Citi app, email, or paper certificate. There is also a separate check/award that comes for executive members.

OP - if he's hellbent on cancelling before he can redeem the rewards, I would tell him to call Citi prior to cancelling his membership and request a product change to something else in Citi's lineup, with the DC or Simplicity the likely candidates. That would allow him to retain the product and positive trade history without being tied to Costco.

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Would love to know if the OP winds up doing this since I have the Citi/Costco and you never know I might need to do this someday