Costco ditches Amex for Visa

[The Ghost of Bob Starr]

Pretty big change and nice to be able to get about 5,000 extra miles annually from my grocery shopping.

[mp170.6]

What does this mean for us who have American Express and Costco memberships all on the same card?  All of the rewards from that card are payable at Costco. 

[nate]

Means you have a year to use the rewards up.

[yk9001]

http://money.cnn.com/2015/03/02/news/companies/costco-citi-visa/

[Glen]

I have both a Costco and a Sam's Club membership - got the Sam's Club on a Groupon deal with a bunch of coupons that essentially made it free.  After comparing the two, much to my surprise Sam's Club is coming out a bit ahead.  Costco seems to have more locations near me but Sam's is usually less crowded (a big plus) and has a bit more variety.  Plus, the cheapo-food deli has many more choices.  When it comes time to decide between the two, I might go with Sam's.  

[mp170.6]

Means you have a year to use the rewards up.

 

I don't know if all Costco/AMEX cards are the same. 

 

With my card, the rewards are issued every February for the previous year.  It's in the form of a check made payable to Costco that gets used as a payment voucher.

[Adam]

Will they continue to accept Amex as payment? That is all I care about

[nate]

Nope they wont

[Adam]

Mother ****ers

[1nutkruk]

The only reason I have an AmEx is because of Costco.  I can finally get rid of it. 

[Brandon]

a lot of companies and uncle sam seem displeased with AMEX.

Their fees are absurd and charged to merchants. People didn't really think some credit card company happened to have kickass rewards for free, did they?

[Adam]

It is great for consumers though. I've got 110,000 Rewards points racked up. 

[Brandon]

I'm sure it is, but someone has to pay. AMEX makes it be the merchants. 

[Adam]

Yep. Thats why many don't take it. 

 

I'm not sure I'll continue to go to Costco if they cease taking Amex as payment. 

[Brandon]

14.99 for some 2.75 Kirkland vodka...I'll go.

[Adam]

Yeah me too prolly

[Adam]

I have friends in cali who shop pretty much exclusively at Costco for their every day stuff, and they don't use a Costco Amex.  They use their other Amex cards and build up huge miles for flights.    

 

A friend of mine who got married a couple years back paid for $5K of airfare for their honeymoon all through Amex miles.  

 

I can see why a lot of Amex users aren't thrilled with this.  

 

Yeah. That is what we do.

[mrwicked]

Amex is the bomb.

Their rewards program is so badass. 

[mp170.6]

also, the cotco amex isn't a real amex. 

 

What do you mean not a real AMEX?

 

I use mine all the time other places. 

[Amazing Larry]

Amex is the bomb.

Their rewards program is so badass.

Their customer service is legit too.

[gotbeer]

The only reason I have an AmEx is because of Costco.  I can finally get rid of it. 

 

Yup same here.  And once the Costco disolves this marriage.  I'm sure AMEX will start charging a yearly fee like all their other cards.  So bye bye AMEX.

[mp170.6]

Pretty sure it's co-branded, like my USAA AMEX is.  

 

I got the stupid thing, which I never use, before I got my Blue Cash and Gold cards. 

 

Mine looks like a regular AMEX on the front, with my Costco member info and photo on the back.  It still seems like a real AMEX card to me, but maybe I don't understand?

 

I will miss AMEX's rental car insurance program that for $17.95 (for California residents) covered the entire duration of a rental car.  It even activates automatically when you use the card at a rental agency.  The plan covers much more than the free "insurance" that comes with many credit cards. 

[yk9001]

I don't think the Costco Amex is co-branded.  i don't see it on the card, and I don't recall it on the statement.

 

Thanks for the heads up on the rental car insurance.

[nate]

Most personal car insurance plans cover rental cars FYI.

[mrwicked]

Their customer service is legit too.

 

Yep. And their travel people are so awesome.

I got stuck in Dallas or Denver at like 3am when my incoming flight was delayed, which missed the connecting flight back to SFO.

There was a storm or something so no one could get out.

It was a scramble with people trying and failing to find hotels with available rooms - just chaos.

People were bitching about how they can't find rooms and they are gonna have to sleep in the airport.

I called Amex travel, told them to handle it, they had a hotel room locked up for me and a car outside within like 10 minutes.

Love those cats.