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Costco Citi Visa details announced

leehg69 18 99 March 24, 2016 at 10:06 AM in Clothing, Shoes & Accessories (6) More Citi Deals
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Last Edited by leehg69 March 27, 2016 at 12:29 AM
https://www.citi.com/credit-cards...y~CostcoWC

It will be called "Costco Anywhere Visa Card by Citi" (that's a mouthful).

For those who already have Costco Amex, they will mail out the replacement cards starting in May 2016, but you cannot use it until June 20, 2016.

A lot better benefits:

4% cash back on eligible gas worldwide, including gas at Costco, for the first $7,000 per year and then 1% thereafter (Costco Amex is 3%)
3% cash back on restaurant and eligible travel purchases worldwide (Costco Amex is 2%)
2% cash back on all other purchases from Costco and Costco.com (Costco Amex is 1%)
1% cash back on all other purchases
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Last Edited by rsveteran April 27, 2016 at 02:33 PM
Some FAQs answered: http://finance.yahoo.com/news/faq...NlYwNzYw--

I received this letter from Amex a few days ago about the end of the Costco Amex card. Please note that this letter came for a Costco Business Amex True Earnings account, not the non-business account. I imagine most of the info applies just the same though. It answers a lot of the questions that have been raised here.

Also, with the current Costco Business Amex True Earnings card, the rebates are 4% US gas, 2% US restaurants & eligible travel, 1% everything else. (The gas rebate started out at 5% until May 2009.)

Some facts pulled from Citi and posts here. Edit as needed
"The new Costco Anywhere Card will have no annual fee with your paid Costco membership."
"If your Costco membership fees are set up for automatic payments with your Costco card from American Express, Costco will charge these automatic payments to your new Costco Anywhere Card." No mention of membership fee here. I hope Costco doesn't increase them using this switchover as an excuse.
No details on executive membership rewards (are they higher as was the case before? I loved the tire deals!). Probably should come from Costco. Someone stated "The credit card gives 2%, and the extra $55 membership gives another 2%". I suppose this is for transactions at Costco (and .com).


https://www.citi.com/credit-cards...y~CostcoWC

Before June 20, 2016

Your new Costco Anywhere Card will be mailed between the end of May and early June. Follow the directions on the card to confirm that you've received it.
Keep using your Costco Card from American Express® until June 19, 2016.

Beginning June 20, 2016

Start using your new Costco Anywhere Card on June 20, 2016 and destroy your old card.
Visit citi.com/CostcoSetup to register your account for online access.

How/when do I get my new Costco Anywhere Visa® Card by Citi?
You do not need to apply. Between the end of May 2016 and early June, Citi will mail it to the basic cardmember or authorized officer's mailing address provided to Citi. You can begin using your new card on June 20, 2016. If your address has changed, please call the number on the back of your current Costco card from American Express to update it.

What rewards and benefits come with my new Costco Anywhere® Visa Card by Citi?
When you begin using your new card on June 20, 2016, all purchases you make with your new card will earn Costco Cash Rewards! You will earn:
4% cash back on eligible gas worldwide, including gas at Costco, for the first $7,000 per year and then 1% thereafter
3% cash back on restaurant and eligible travel purchases worldwide
2% cash back on all other purchases from Costco and Costco.com
1% cash back on all other purchases

845 Comments

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#3
Dat bonus tho? Where it at?
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#4
Thank you for sharing this information. I like the 3% cash back on restaurants and 4% cash back on gas.

Is there another credit card without an annual fee that offers higher than 3% cash back on restaurants?

With this being managed by Citi, do others also think that we can generate virtual credit card numbers for this card?

Tofu Vic
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Last edited by TofuVic March 24, 2016 at 10:15 AM.
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#5
Wow. I hate that its citi, but i cant hate on those benefits..!
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#6
how is citi able to give these benefits and amex couldnot
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#7
Quote from padmanabhuni View Post :
how is citi able to give these benefits and amex couldnot
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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#8
You can use any Visa to shop at Costco, right? I know right now it's still AMEX.
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#9
Quote from padmanabhuni View Post :
how is citi able to give these benefits and amex couldnot
citi is making like no money with this costco thing.
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#10
Quote from Cjchaps View Post :
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....
we did fight hard and there were big cuts when we lost the Costco account.
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#11
Quote from TofuVic View Post :
Thank you for sharing this information. I like the 3% cash back on restaurants and 4% cash back on gas.

Is there another credit card without an annual fee that offers higher than 3% cash back on restaurants?

With this being managed by Citi, I am assuming that we can generate virtual credit card numbers for this card. Let me know what you think about my assumption.

Tofu Vic
I don't think so, 3% is pretty high on restaurants, and 4% on gas. The cards with rotating categories will beat these for 1/4 of the year, for example Freedom offers 5% on gas right now until April 1, but I don't think there's a 4% yearly gas card for no fee.

Pretty good card, it looks like
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#12
Quote from padmanabhuni View Post :
how is citi able to give these benefits and amex couldnot
Partially be outsourcing customer service to India. AmEx keeps it all American.
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#13
Good info mate.

Other thing to remember. Pl transfer all of your current credit limits to other amex card if not, the sinking amex card may carry it away..
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#14
Don't have to do any sign up to receive the Citi Costco card right? If you're currently holding an Amex Costco..
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#15
Does this also come with free costco membership? Also Is it also available to new customers?
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