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Find out how sticking with one credit company saves Costco (and its members) money, and why the warehouse club chose Visa. The post This Is Why Costco Only Accepts Visa Cards appeared first on ...
On April 1, 2016, Citigroup became the exclusive issuer of Costco's branded credit cards. [49] [50] The bank's private-label credit card division, Citi Retail Services, issues store-issued credit cards for such companies as: American Airlines, Best Buy, ConocoPhillips, Costco, ExxonMobil, The Home Depot, Sears, Shell Oil, and Staples Inc.
Citi continues to offer corporate and institutional banking and wealth management in Panama and Costa Rica. [124] On April 1, Citigroup became the exclusive issuer of Costco-branded credit cards. [125] In April 2016, Citi was given regulatory approval for its "living will", its plans to shut down operations in the event of another financial crisis.
A number of Costco members received emails from Citi, alerting them that their credit card accounts had been closed.
Prior to that, Costco credit cards had been issued by American Express since 2001, and Costco accepted only American Express cards for credit transactions. After the switch of its co-branded cards to Citi, Costco ceased accepting AmEx and began exclusively accepting Visa.
With the Costco Anywhere Visa Card by Citi®, you can earn cash back on your purchases. This includes 3% cash back on travel and restaurants, 4% on eligible gas and EV charging for the first ...
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