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Costco and Citi Visa

bluejen 3,907 1,641 August 16, 2015 at 10:15 AM
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Most of us know that Costco is changing from AMEX, but I just googled and found out that it will be a CITI Visa effective April 1st, 2016.

We have at least 15 credit cards that we've accumulated over the years, (many of which we don't use, but I know closing cards can affect your score). In addition to AMEX we have Chase Visas, Discovers and MasterCards. This doesn't count all the store cards like Old Navy, Overstock, Kohl's and others.

Ha, I remember way back in the day when we couldn't even get a credit card until we bought our first house. I guess the more you owe, the more credit you can get.

Of course, the only one we don't have is a CITI card. I've heard awful things about them, but will have to apply as we like to shop at Costco a lot. What do the rest of you think about Citi? Granted, it's pretty far away, but time flies.

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#2
Darn it! I thought it was going to be Capital One. I hate Citi. I canceled their card after they would not stop calling about "exciting offers" of pre-paid lawyers and credit monitoring. I used to get several credit offers every week, even after calling them and writing "return to sender" on every one of the offers. I still get one about every month, and I haven't had their card for at least 10 years. I just can't get rid of them! I need to seriously consider either only paying cash at Costco or dropping the membership. My purchases there have not been what they used to.

Are you sure all of your credit lines are still open? Three of mine have been closed in the past year due to inactivity (Home Depot, Menards, and an HSBC visa). You might want to use one of those credit calculators to find out how it will hurt your score. A lot of credit card companies already have it for free when you sign into your account. My credit score didn't go down all that much and my utilization rate looks much better now.
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#3
Citi - whatever. We've had 2 citi cards for near 10 years now. No real experience with them, never had to call CS. TYP redemption was easy. I briefly had a Citi mortgage and again no + or - to say.
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#4
I have three citi cards:
Hilton honors
Double cash
Sears (I think)
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#5
cap one is costco in canada.

i've had citi over the years. they're fine.
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#6
amex is going to let you keep your Costco card and number

it expects to retain 50% of its customers


I wonder how much intrest rate citi will charge

my one is 26% and the mastercard one ghas dropped most benefits like car insurance,warranty,travel help etc,
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#7
Quote from narnaie View Post :
amex is going to let you keep your Costco card and number

it expects to retain 50% of its customers


I wonder how much intrest rate citi will charge

my one is 26% and the mastercard one ghas dropped most benefits like car insurance,warranty,travel help etc,
Will Amex charge a fee if people keep the card? What will the cash back terms be?
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#8
Quote from narnaie View Post :
amex is going to let you keep your Costco card and number

it expects to retain 50% of its customers


I wonder how much intrest rate citi will charge

my one is 26% and the mastercard one ghas dropped most benefits like car insurance,warranty,travel help etc,
Nope. My current bill states, " SERVICE ADVISORY: You will no longer be able to use this American Express Card for any purchases as early as April 2016 because our Costco partnership is ending. You can keep using your Card and earning rewards until that time. Please call 1-888-246-1076 if you need more information."
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#9
Thanks for the feedback. I'll apply when the date is nearer. I haven't used the BofA cards in eons. They might have closed them by now. Plus my ebay MasterCard.
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#10
American Express will offer an alternative to the Costco American Express card (probably some time this winter) for those that wish to keep their relationship with American Express, but American Express will, unfortunately, do a hard pull for this new alternative card instead of relying on the already existing history with their customers.
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#11
I like some Amex notification features like getting a text when a credit hits and getting a text when a charge is made without the card actually being swiped. My cap one visa doesn't have those alerts. Does the citi double cash have notifications like that?
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#12
CITI double cash is awesome. A 2% cashback card on everything that is issued by mastercard. Highly recommended. Before that, I had to use my Fidelity AMEX, which while nice, is an AMEX and therefore not as widely accepted.

For those of us who don't like to track revolving categories, a flat 2% card is the way to go when you do the math.
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#13
Quote from rrc06 View Post :
CITI double cash is awesome. A 2% cashback card on everything that is issued by mastercard. Highly recommended. Before that, I had to use my Fidelity AMEX, which while nice, is an AMEX and therefore not as widely accepted.

For those of us who don't like to track revolving categories, a flat 2% card is the way to go when you do the math.
I've had the doublecash card for a few months now and agree that it's a nice convenient way to get good rewards on everything besides gas & groceries (which I use amex bcp for).
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#14
A blow to American Express, which earned over $100 billion in revenue from Costco in 2014. That number is highly unlikely. Costco's annual sales are about $100 bil, so Amex could not possibly have made that much money on its chunk of the portion of the sales it processes.
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#15
Quote from jimdarcy View Post :
Will Amex charge a fee if people keep the card? What will the cash back terms be?
Even for free itself, only 50% may keep. If there is a Fee, its 0%. Amex never even dream to fee the current Costco card holders. I will simply keep amex just for their customer service. Once they are otta Costco, there is no fun with Amex.
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