Costco has accomplished an acceding with Citi for a new co-branded acclaim agenda program, anon afterwards bottomward its agnate accord with American Express.
Costco says it will alpha accepting Visa rather than American Express at its U.S. food on April 1, 2016.
Currently, the broad club banker has accustomed alone debit cards and Amex for purchases in its food or at its gas stations, although it additionally accepts Visa and MasterCard for online purchases.
Most retailers who acquire Visa additionally acquire MasterCard, but Costco will be an barring to that rule.
The alone acclaim cards it will acquire for abundance and gas base purchases will be Visa.
Details about the new card’s allowances and agreement will be fabricated accessible to associates soon.
The Costco Amex agenda offered agenda holders 3% banknote aback for gas, 2% for restaurants and biking and 1% aback for aggregate else, and there was no anniversary fee as continued as the user was a Costco member.
The accord anticipates the acquirement of the absolute co-branded Costco Amex agenda portfolio by Citi.
Citi is the world’s better issuer of customer acclaim cards and has co-branded cards with added retailers, including Sears, for which it has issued a Sears MasterCard.
Note: An beforehand adaptation of this address afield said the accord amid Citi and Costco would booty aftereffect on April 1, 2015.
By Chris Isidore for CNN
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