Costco Partners With Citi: Collaboration with AMEX Comes To An End

Big things are happening this year in the credit card industry and yesterday, Costco has officially switched their partnership from American Express to Citi and VISA. It’s without a doubt that they also had to introduce two new cards in their portfolio: Citi Costco Anywhere Visa, Citi Business Costco Anywhere Visa. The Citi 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.) Also, The new card will receive 3% at restaurants and certain travel purchases, versus the old 2%. Lastly, you’ll receive 2% cash back on Costco purchases instead of 1% from the previous Costco Card.

Editor’s Note: Payments on the card are available in Costco Stores or online at Costco.com

Citi Costco Anywhere Visa Business Card Features:

• Exclusively for Costco Members: Go Big with Cash Back Rewards. Receive a reward coupon annually which is redeemable for cash or merchandise at US Costco warehouses
• 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter
• 3% cash back on restaurants and eligible travel purchases
• 2% cash back on all other purchases from Costco and Costco.com
• 1% cash back on all other purchases
• No Annual Fees (with Paid Costco Membership)

Existing Cardholders:

• Existing cardholders with the previous Costco Anywhere AMEX, you should have received a new card in the mail already, if not, contact Citi.
• The old Costco Amex card won’t work anymore – at Costco or anywhere else.
• All balances and rewards balances will be transfered over automatically to your new Citi Costco account.
• The terms imply that any extended warranties WILL work for items purchased before June 20, 2016.

Citi Costco Anywhere Pros VISA:

• Earn 4% cash back on eligible gas at Costco worldwide
• No Annual fee
• Easy to rack up cash back rewards
• High Rewards Rates
• High Spending limit
• No Spending caps on points earned

Citi Costco Anywhere Cons VISA:

• Citi is not doing a credit inquiry; meaning this may affect your credit score a little bit.

Author’s Verdict:

You can now get your hands on a Costco Anywhere VISA Business or Personal Card by Citi. If you frequently make purchases in bulk or wholesale, then these two card could be a very exceptional option for you. Now, the American Express Costco Anywhere will no longer be available to make purchases or redeem with. In my opinion, Costco is stepping their game up from their previous American Express card which only offered up to 3x cash back  and with Citi they are offering  a nice 4x cash back. Partnership with American Express has now ended and you can now take advantage of Citi’s Costco card for big savings on all your Costco and gas purchases! Find our complete list of Credit Card Promotions today!