A lot of changes went into effect today (June 20, 2016) at Costco as they switch over from their Amex partnership to a Citi and Visa partnership.
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Cards Now Available for Application
The new Citi Costco Visa cards are now available for application online.
The new card gets 4% on gas up to $7k, versus the 3% up to $4k on the old card. (The business card stays the same for gas at 4% on up to $7k.) The new card gets 3% at restaurants and certain travel purchases, versus the 2% on the old card. The new card gets 2% at Costco and costco.com, versus 1% with the old card.
Read our full review of the Citi Costco personal and business cards here. Before applying for a Citi card, it’s worth reading 16 Things Everybody Should Know About Citi Credit Cards.
Existing Cardholders
- You should have already gotten your new card in the mail. If you didn’t, contact Citi.
- The old Costco Amex card won’t work anymore – at Costco or anywhere else.
- All balances and rewards balances should transfer over automatically to your new Citi Costco account.
- The terms imply that any extended warranties WILL work for items purchased before June 20, see also this Slickdeals thread
Payments Accepted In Costco Stores
As of today, June 20, 2016, Costco stores only accept Visa credit cards, whether they are issued issued by Citi or by any other bank.
They no longer accept American Express credit cards, and you also can not use Mastercard or Discover credit cards. Even Mastercard credit cards issued by Citi can not be used.
You can also use Visa or Mastercard debit cards, Costco Cash cards, cash, or check.
Payments Accepted on Costco.com
On costco.com you can use Visa, Mastercard, and Discover credit or debit cards. And Costco Cash cards.
Amex credit or debit cards can not be used.
Payment Opportunities
We’ve covered the fact that Chase Freedom offer 5x points on Costco purchases (along with Sam’s and BJ’s) this quarter and for the rest of 2016. Costco.com will earn 5x as well.
If you shop heavily at Costco, consider maxing out $1,500 before the end of June by purchasing Costco Cash cards in store or online. Then put another $1,500 during July – September, and then another $1,500 during October – December.
It’s also possible to get up to 3.5% cashback with the BofA Cash Rewards card for those who get relationship bonuses with them, up to $2,500 per quarter.
New DP (success, after HUCA):
I called the number on my Diamond Preferred, the CSR said “sure, let me transfer you to a product specialist.” After being on hold, she came back and told me that she talked with someone else and it’s not possible since the Costco card is through a third-party.
Then I SM-ed Citi, and they said “sure, but you have to call to do the conversion. Use this number.” It was a different number (1-800-950-5114; General Credit Cards) than I’d used from my card, and when I called, that CSR said “sure” and immediately started the process, which was successful.
Called CSR and was told cannot product change existing Citi card to Costco Anywhere card
Thanks for the data point
*switches not swithes
Thanks, fixed for Chuck.
I honestly dont give a crap about any of your spelling mistakes as long as I can read it and understand it, but since its been mentioned already, might as well… “Payments Accpeted on Costco.com”
Thanks, fixed. We’re always happy to fix errors but we can’t afford an editor and me & Chuck prefer to write multiple posts rather than proof read one multiple times.
Haha, looks like I have to enable Grammarly again.
It’s very helpful for spelling/grammar, but their system is buggy like anything and interferes in many unpredictable ways with writing posts.
can i convert other citi card (most likely mastercard) to costco visa card?
Hmm, good question. Since there’s no signup bonus, that’s a good idea. Not sure.
Let us know if you try it.