5/13/2017 0 Comments Costco Amex Rewards Program![]() The new Costco Anywhere Visa Card by Citi released its cash back rewards details: 4% on gas, 3% on restaurants & travel, 2% at Costco, & 1% everywhere else.American Express Membership Rewards provides opportunities to get huge value out of points with partners like British Airways, Singapore Air, and FlyingBlue. Starting March 31, 2016, Costco Will No Longer Accept AMEX Cards. And Folks Will Receive a New Citi Costco Visa to Replace the AMEX Costco Card. Costco's original date to switch from Amex to Visa has been delayed until early summer because the process has taken longer than expected.
![]() Costco credit card review. Costco’s partnership with American Express (a Credit. Card. Forum advertising partner) ended June 2. Going forward, Visa will be the only plastic accepted at Costco, and the new co- branded Costco rewards card is the Costco Anywhere Visa card by Citi. In this review, we’ll compare both cards, guide current True. Earnings cardholders through the transition and help potential new applicants decide whether the new card is worth getting. The transition. If you were an Am. Ex True. Earnings cardholder, your new Citi card should have already arrived by mail — and you should securely destroy your old card). You can register your account for online access at citi. Costco. Setup. The transition should have been automatic, and Citi shouldn’t have done a new credit pull. As for the rewards you already earned with the True. Earnings card, those will be automatically transferred, and you’ll receive them on your next regular February cash- back rewards coupon. If you never had the True. Earnings card, you can apply for the Costco Anywhere Visa on Citi’s website, according to American Express. If you have no intention of getting a Costco rewards card, how happy you are about the transition will depend on the cards already in your wallet. If you enjoyed using large Costco purchases to earn American Express Membership Rewards on, say, your American Express Everyday card, you’re likely not thrilled with the change, as Am. Ex will no longer be accepted at Costco. On the other hand, if your primary rewards- earning card is a Visa, you can start using it to rack up rewards on your bulk purchases. The rewards. The reward structure for the new Citi product is definitely an improvement over the old card. Oddly, the old True. Earnings card did not give extra rewards for Costco purchases, but the new Costco Anywhere card does. The new card also bumps up the amount of cash back you’ll earn on gas, dining and travel: NEW Costco Anywhere Visa. OLD True. Earnings American Express. U. S. Costco)4%3%Restaurants. Travel. 3%2%Costco and Costco. N/AOther purchases. When it comes to receiving your rewards, you’ll get them annually. This is a big difference from the redeem- whenever- you- want structure of most cash- back cards. Every February, you’ll be mailed a rewards coupon with your billing statement. It’s redeemable at any Costco location for merchandise or cash. If you want cash, you’ll need to request it in person at Costco. The coupon expires in August the same year it was issued. Fees. The True. Earnings Am. ![]() Ex didn’t have an annual fee, and neither does the Citi Anywhere card. However, Costco membership is required to hold the card. Costco memberships start at $5. The American Express True. Earnings card charged a 2. Citi card charges 3 percent. Other perks and benefits. Visa and American Express offer their own suites of protections to cardholders. While Visa offers the standard collection of damage and theft protection, purchase protection, travel accident insurance, extended warranty and secondary rental car insurance, American Express extends some unique benefits, including a popular and robust deals program (Am. Ex Offers) and free Shop. Runner membership (which offers free shipping from certain merchants). If you made use of Am. Ex Offers and Shop. Runner, saying goodbye might be hard. However, the boosted cash back on the new Visa card may be some consolation. Other cards to consider. The new Citi card is a solid product for Costco members, especially now that it’s adding 2 percent back on Costco purchases. If you’re already paying the annual Costco membership fee and frequently shop at Costco, the card is an obvious choice. It offers cash back in everyday categories, in addition to what you buy at Costco. Four percent back on gas and 3 percent back on dining and travel isn’t a combination you’ll find on any other no- annual- fee card. However, if you don’t often shop at Costco, we suggest you tap the brakes. The redemption structure is designed for avid Costco shoppers. Your rewards come annually in the form of a coupon to be redeemed at Costo. These are not the kind of rewards you can redeem for a statement credit in any amount at any time. If you’re looking for more flexible cash- back rewards that hit similar categories, here are some ideas: Bank. Americard Cash Rewards. It’s a Visa Signature card, so you’ll be able to use it at Costco post- transition. It’s now a Maser. Card card, however so you can no longer use it at Costco (to get 1. Sam’s Club, which loves Master. Card. American Express Blue Cash cards: If you still want an American Express card after your True. Earnings card is phased out, consider one of the Blue Cash cards. The no- annual- fee version gives you 3 percent back at supermarkets on up to $6,0. Costco) and 2 percent back at gas stations and department stores. If you’re willing to pay an annual fee of $7. Blue Cash Preferred card, which rewards you 6 percent back at supermarkets (on up to $6,0. Just remember that you won’t be able to use either at Costco (although you can at Sam’s Club and BJ’s wholesale clubs)Updated July 2.
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