Help understanding what exactly is going to happen to my Costco Amex

[ShatteredReality]

Hi,

Sorry if this is considered a duplicate post but I'm having a really hard understanding the implications of what is going on with Costco and Amex.

Here is what I currently understand to be true:

• Costco and Citi have teamed up to issue a Visa that will replace the Costco Amex
• Current Costco Amex cards will cease to function after 3/31/16
• Amex does not appear to be doing anything to attempt to retain Costco cardholders (no replacement product). 

I'm trying to figure out my best plan of attack.

Here are my goals:

* Impact my credit as little as possible, we are looking at buying a home in 10-12 months so I'm trying to avoid all credit pulls. 

* Retain an Amex product if possible (I like amex, it's my primary card right now). 

Here are my questions:

* Is the Amex debt being sold to citi? What is going to happen if I have a balance on my Amex when the changeover happens?

* Is there a way to keep my Amex account?

* My Amex account is one of my older accounts, when the changeover happens will a new citi account be backdated to the date I opened the Amex or will my AAoA get shorter because my Amex will be closed and a new account will be opened?

* What is the deal with Amex "backdating" accounts? I know they no longer do this but I don't know what the practice was. 

Can anyone help me understand what is going to happen, how it will affect me, and what my options are?

Thanks!

[OmarGB9]

http://ficoforums.myfico.com/t5/Credit-Cards/Re-UPDATED-11-30-Latest-on-Costco-and-Citi-Bank-Visa/m-...

Might want to read through that whole thread. Lots of good info there. As far as Amex backdating, it just meant that whenever you acquired a new Amex account, they would report the open date and payment history of your oldest account, making it seem like the account was considerably older than it really was.