A Costco employee has leaked a letter that will be sent out to American Express cardholders and will arrive as early as October 19th, 2015. Here are copies of the memo that was sent to Costco’s, followed by the letter that will be sent to existing cardholders:
Contents
Memo & Letters
Our Thoughts
My reading of this letter and F.A.Q is that American Express cardholders will be transitioned automatically to the Citi Visa Costco card around March 31st, 2016. Until that date you’ll be able to use your American Express card, I suspect there will be some overlap where Costco accept both cards that run on the American Express & Visa payment networks to make things easier for customers.
The Citi Costco card will also act as your Costco membership card which is a neat feature as well. Unfortunately it looks like we’ll need to wait until early 2016 to see what the rewards package on this card is.
Given that American Express will lose these Costco cardholders, I think it’s safe to say that they will be offering generous targeted sign up bonuses for their other cards to try and get some retention of those cardholders (in fact we’ve already been seeing these targeted bonuses for Costco cardholders).
Hat tip to Racer609 on myFICO forums
