Your Costco Amex Card Will Stop Working on June 20

The Costco card from American Express will stop working on June 20, 2016. Also on that day, Costco will stop accepting Amex cards, and will switch over to accepting only Visa credit cards.

We learned last month that the Costco transfer will happen at some point in June, and we now have a lot more details on how it will play out:

The last day American Express cards will be accepting at Costco will be June 19. Beginning June 20th, only Visa credit cards will be accepted. (Other accepted forms of payment are debit cards, cash, check, EBT, and Costco Cash cards.)
After June 19, the Costco Amex card will not be valid for use anywhere.
Costco Amex cardholders will automatically get a new Costco Citi card, no need to apply.
Citibank will not pull your credit as part of the account transfer process, and cardholders will maintain their credit line. (It appears that your credit history will be retained in the transfer.)
All cashback will automatically transfer over to the new card.
You will get the new Citi card in May or early June.
On March 24, the new Costco Citi card will be available for signup at this link.

Key links:

Chase Freedom 5x at Costco

The Chase Freedom card is offering 5x rewards at grocery stores during the months of April, May, and June, and it appears that Costco in-store purchases will work to get the bonus rate as well.

Since Visa acceptance at Costco will begin on June 20th, that leaves us eleven days to earn 5x at Costco with the Freedom card; June 20 – June 30. (HT: @buickmuscle) An easy way to maximize this is to buy Costco Cash cards which can be used at a later date.

Other Costco/Citi/Visa/American Express posts:

Chase Freedom 5x at Costco

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