Citi is offering 5% cash back rewards on gas at Costco and earn 4% cash back on other eligible gas and electric vehicle (EV) charging purchases for the first $7,000 combined spend per year, and then 1% thereafter with the Costco Anywhere Visa® Card by Citi for Costco Members. No annual fee.
Details:
Discover one of Citi's best cash back rewards cards designed exclusively for Costco members
Earn 5% cash back rewards on gas at Costco and earn 4% cash back on other eligible gas and electric vehicle (EV) charging purchases for the first $7,000 combined spend per year, and then 1% thereafter.
3% cash back on restaurants and eligible travel purchases and eligible travel, including Costco Travel.
2% cash back on all other purchases from Costco and Costco.com
1% cash back on all other purchases
No annual fee with your paid Costco membership and enjoy no foreign transaction fees on purchases
Receive an annual credit card reward certificate, which is redeemable for cash or merchandise at U.S. Costco warehouses, including Puerto Rico
Citi is offering 5% cash back rewards on gas at Costco and earn 4% cash back on other eligible gas and electric vehicle (EV) charging purchases for the first $7,000 combined spend per year, and then 1% thereafter with the Costco Anywhere Visa® Card by Citi for Costco Members. No annual fee.
Details:
Discover one of Citi's best cash back rewards cards designed exclusively for Costco members
Earn 5% cash back rewards on gas at Costco and earn 4% cash back on other eligible gas and electric vehicle (EV) charging purchases for the first $7,000 combined spend per year, and then 1% thereafter.
3% cash back on restaurants and eligible travel purchases and eligible travel, including Costco Travel.
2% cash back on all other purchases from Costco and Costco.com
1% cash back on all other purchases
No annual fee with your paid Costco membership and enjoy no foreign transaction fees on purchases
Receive an annual credit card reward certificate, which is redeemable for cash or merchandise at U.S. Costco warehouses, including Puerto Rico
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Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
I'm sure it's been mentioned and buried but extended warranty benefit goes away next month which sucks
Uhh yeah I have an Amex, this is not true lol
I'm sure citi fought hard in the bidding process to beat Amex to get the Costco account. Part of the terms were probably to offer better benefits for the customer....
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My AmEX gets charge automatically for my Costco membership renewal and it expires this May. Not sure if anyone already asked or answered, but will Costco automatically charge my AmEx in May then I wont be able to use it after June 10. That would suck for just being able to use it for just a month or so.
The charge is for your Costco membership, not for your AmEx. So if you're charged in May on your AmEx, your Costco membership will then be good through May 2017.
The switch to Citi is almost certainly based on the merchant fee that AMEX was charging Costco. Citi probably gave Costco an merchant fee rate that was lower thant AMEX was willing to go. If Warren Buffett is not worried abouth AMEX then I would not be worried. AMEX made $1 billion selling their $13.9 billion costco AMEX portfolio to Citi.
But they also loss with the Costco partnership, which represented 8%, or $80 billion, of American Express' billed business and about 20%, or $14 billion, of its interest-bearing credit portfolio.
Amex has been very aggressive to replace the Costco Amex card with their Blue card. The blue cash everyday card offers 3% at supermarkets, 2% on fuel and department stores, 1% everything else. Very disappointing when you compare it to the old Costco/Amex card.
I'm surprised that no one is mentioning Sam's club Mastercard. You get 5% back on fuel, 3% on travel and restaurants, 1% on everything else. It works exactly like the Costco card..
Not sure if I'll use this for anything other than Costco. My samsclub MC pays 5% on gas and 3% on dining and travel. I use the citi double cash back card everywhere else unless discover or chase gives more during a quarter.
That's actually a good replacement for the Costco Amex especially for the 3% cash back on restaurant. At least you don't need to re-apply for this card if you're a current Costco member.
Penfed has many rewards cards but you are referring to one of the 2 5% gas rewards cards
The Platinum Rewards Visa Signature® Card (the one u refer to) is 5x points on gas. This has been changed to 0.85¢ per point. If you have this card you are 100% correct.
Platinum Cash Rewards Visa® Card is their other card. This card was changed recently as well to be more variable. The standard card is 3% First Year $0 then $25 fee. The Plus card needs one of the following to activate the 5% and no fee.
Qualify for Plus Cash Rewards by opening up one of the following:
Active checking account with direct deposit ($250 min.)
Equity Loan or Equity Line of Credit
Money Market Certificate or IRA Certificate
Thrifty Credit Service
Mortgage
Personal Line of Credit
Installment loan
Money Market Savings Accounts
This is the card i have, but i also have my Mortgage with them to activate the 5%. Many people will be effect by these (crappy)changes, but a true 5% card with no limits does still exist.
When did they implement this? I have a car loan that is going away this year, so I'm wondering when they'll downgrade me to 3%.
My AmEX gets charge automatically for my Costco membership renewal and it expires this May. Not sure if anyone already asked or answered, but will Costco automatically charge my AmEx in May then I wont be able to use it after June 10. That would suck for just being able to use it for just a month or so.
You will get a VISA card for CITI instead of AMEX. You will be charged membership fee again next May, so you are still paying membership fee for 1 year.
Yes, that's true, but think about how much you actually spend. A 1% difference on $2000 is $20. That's not nothing, but is it worth opening a new credit card over?
Yes, but have you used it with your PIN at any merchant in the US?
What I meant is that US-based merchants don't care/won't ask for your PIN. If they have the new terminals (since 10/01/15 or whatever), they'll ask you to stick in your card but they'll print a receipt that you'll sign (i.e. chip & signature).
US bank executives thought it was a burden to "inconvenience" customers with having to remember/enter a PIN so they figured chip & signature was good enough for now.
So after following this thread today, it seems that Citi is going to take balance, rewards, and credit limit from the Costco Amex card.
My limit with Costco Amex is just below $5k right now, since I've never needed to request a CLI. Visa Signature cards are usually around the $5k CL threshold, from what I remember. Should I request a CLI on my Costco Amex to get me above that $5k limit so that I can be switched over to a Visa Signature?
I heard AMEX stopped taking any request for CLI on Costco AMEX with effect from March 15. But I might be wrong!
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https://www.citi.com/credit-cards...ogy-videod
We'll probably have chip & PIN widely used in the US in 5-10 years or something. Hopefully it's still secure by then!
http://www.thestreet.c
But they also loss with the Costco partnership, which represented 8%, or $80 billion, of American Express' billed business and about 20%, or $14 billion, of its interest-bearing credit portfolio.
http://www.latimes.com/business/l...story.html
10 percent of the 112 million Amex cards were Costco-branded.
http://www.bloomberg.c
I'm surprised that no one is mentioning Sam's club Mastercard. You get 5% back on fuel, 3% on travel and restaurants, 1% on everything else. It works exactly like the Costco card..
We'll probably have chip & PIN widely used in the US in 5-10 years or something. Hopefully it's still secure by then!
https://www.logixbankin
https://www.youtube.com/watch?v=oPylCZz
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If you're talking about this one, it's not really 5 points
https://slickdeals.net/forums/showpost.php?p=
https://www.penfed.org/platinum-c...ards-card/
The Platinum Rewards Visa Signature® Card (the one u refer to) is 5x points on gas. This has been changed to 0.85¢ per point. If you have this card you are 100% correct.
Platinum Cash Rewards Visa® Card is their other card. This card was changed recently as well to be more variable. The standard card is 3% First Year $0 then $25 fee. The Plus card needs one of the following to activate the 5% and no fee.
Qualify for Plus Cash Rewards by opening up one of the following:
Active checking account with direct deposit ($250 min.)
Equity Loan or Equity Line of Credit
Money Market Certificate or IRA Certificate
Thrifty Credit Service
Mortgage
Personal Line of Credit
Installment loan
Money Market Savings Accounts
This is the card i have, but i also have my Mortgage with them to activate the 5%. Many people will be effect by these (crappy)changes, but a true 5% card with no limits does still exist.
https://www.logixbankin
https://www.youtube.com/watch?v=oPylCZz
What I meant is that US-based merchants don't care/won't ask for your PIN. If they have the new terminals (since 10/01/15 or whatever), they'll ask you to stick in your card but they'll print a receipt that you'll sign (i.e. chip & signature).
US bank executives thought it was a burden to "inconvenience" customers with having to remember/enter a PIN so they figured chip & signature was good enough for now.
EDIT: Anyway, going off-topic, sorry.
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My limit with Costco Amex is just below $5k right now, since I've never needed to request a CLI. Visa Signature cards are usually around the $5k CL threshold, from what I remember. Should I request a CLI on my Costco Amex to get me above that $5k limit so that I can be switched over to a Visa Signature?