The all new Costco Anywhere Visa card by Citi

[thelethargicage]

Here it is: http://ficoforums.myfico.com/t5/Credit-Cards/AMEX-Costco-card/m-p/4266073#M1216017

Turns out it was OP who said it, oops.

[creditguy]

Man if that's true, then your right that will be a game changer. Sounds too good to be true though, but who knows, someone has to change the game eventually. Costco will definitely get a lot more interest if true though.

[Anonymous]

From what my gm is telling me it will be larger. It makes no sense to make such a big move like this just for a smaller transaction fee. Rewards will be larger. I'll keep you guys posted

[thelethargicage]

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@Anonymous wrote:
From what my gm is telling me it will be larger. It makes no sense to make such a big move like this just for a smaller transaction fee. Rewards will be larger. I'll keep you guys posted

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Will they force you to redeem the rewards only at Costco?

[Imperfectfuture]

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@thelethargicage wrote:

There's a poster on this board who works at Costco, and he mentioned on another recent Costco thread that he had overheard something about the benefits for the new Costco Visa. Apparently it will give 5% on gas, 3% at restaurants, and most importantly, 2% on general spend. Not sure if that last number was a typo on his part or if he was just kidding, but if it does turn out to be true, this card will be a game changer.

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Nice replacement for both Amazon visa and quicksilver MasterCard.  But don't need it ATM.

[CreditUnionFan]

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@thelethargicage wrote:
Will new Citi TL retain backdating or will actual account opening date be reported? I hope so--it would be like having an additional backdated Amex.

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It does seem likely that existing Costco Amex cardholders who have the backdated account opening on their credit report will have the same date when the account is transferred to Citi. There's no guarantee, but one would tend to believe that since Amex used to track it that way, it is unlikely that old accounts will suddenly have new opening dates. Citi has kept prior account opening dates in tact when they acquired other portfolios such as Home Depot (GECRB) and Best Buy (CapOne/HSBC).

[SunriseEarth]

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@MJ-san wrote:

Poking around the interwebs ... the actual agreement between Costco and Citi does show up at SEC:

http://www.sec.gov/Archives/edgar/data/909832/000090983215000012/costex10110qa51015.htm

LOTS of redacted stuff in there for confidentiality, but it looks like the rewards program will remain the same - an annual rebate based on 3% back on gas (up to 4k in gas purchased), 2% restaurants, and 1% everywhere else including Costco. BAH HUMBUG!

There is an "additional rewards" section that was redacted so maybe there's more "bonus" earning opportunity, but ... we'll see.

LOTS of other info - confirming that there will be new account numbers too.

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Very good find. If all goes as planned, it looks like the portfolio will be acquired and the rewards program will be same as it was.   As for the redacted portion, this also makes highly unlikely that the card will be a 2% gen spend card.   If so, 2% would be the base rate and rewards would mulitply off that rate (Gas as 3x category would be 6%, Dining as a 2x category would be 4%).   Now, that would be a game changer indeed!   But I don't think it'll happen.   

[thelethargicage]

If that document is correct, or hasn't changed since 2/27/2015, the Costco Visa will be a carbon copy of the Costco Amex

[Anonymous]

Idk thats a good question. I want to say yes.

[Bman70]

So, what's the best Visa cashback card for the Warehouse category? I guess that would mean general spend category, since no one seems to give cashback for warehouses. I wish I could convert one of my Quicksilver MasterCards to a Visa.