(VVNEWS.com)- Starting today, Monday, June 20th Costco begins accepting all Visa credit cards, including the new Costco Anywhere Visa® Card by Citi, both in the warehouse and at Costco gas stations.
American Express® cards will no longer be accepted.
American Express has been accepted at Costco stores for around 16 years, with approximately 10% of their cards actually being branding with the Costco logo.
American Express’s Chief Executive Ken Chenault has said losing the partnership with Costco will impact one in 10 AmEx cards in circulation and would likely eat into the company’s earnings in 2015 and 2016.
The Costco Anywhere Visa Business Card will offer:
- 4% Cash back on eligible, gas worldwide including gas at Costco (for the first $7,000 per year and then 1% thereafter).
- 3% Cash back on restaurant and eligible travel purchases worldwide.
- 2% Cash back on all other purchases from Costco and Costco.com.
- 1% Cash back on all other purchases.
For more frequently asked questions about the transition you can visit COSTCO by clicking here.