Details about new Costco Visa card effective 4/1/16

[benjie1305]

Link here

and here


Looks like:

3% CB on 1st 4k/per year of gas
2% CB for travel purchases
2% US restaurants
1% CB on all other purchases incl Costco
No AF

[ExGingi]

Link here

and here


Looks like:

3% CB on 1st 4k/per year of gas
2% CB for travel purchases
2% US restaurants
1% CB on all other purchases incl Costco
No AF

Just got a mailer from Costco/Citi. Looks like all categories were sweetened by an additional 1% (4% on Gas, 3% on Travel and Restaurants, 2% at Costco - all of these being "categories") and all else stays at 1%.

[tzifanya54]

Just got a mailer from Costco/Citi. Looks like all categories were sweetened by an additional 1% (4% on Gas, 3% on Travel and Restaurants, 2% at Costco - all of these being "categories") and all else stays at 1%.

Deffinetly beats the Amex Costco card.

[ExGingi]

Deffinetly beats the Amex Costco card.

Indeed, especially if Amex bans a certain person from being an AU. Though it probably doesn't beat AMEX for service, protection, etc.

I wonder if AMEX will make a push to get existing Costco/AMEX cardmembers to get an additional account. I've been at the 4 account max for a while, and this opens an opportunity for another one.

I wonder how lucrative this might end up for Citi, since rumor has it that Costco negotiated fees down to $0 or very close to that, and they will be processing many other Visa purchases.

[tzifanya54]

Indeed, especially if Amex bans a certain person from being an AU. Though it probably doesn't beat AMEX for service, protection, etc.

I wonder if AMEX will make a push to get existing Costco/AMEX cardmembers to get an additional account. I've been at the 4 account max for a while, and this opens an opportunity for another one.

I wonder how lucrative this might end up for Citi, since rumor has it that Costco negotiated fees down to $0 or very close to that, and they will be processing many other Visa purchases.

Very lucrative. Costco is a huge draw for people to get the card in the first place and then they use it everywhere else, where Citi gets the full processing fees.

[Denverite]

I know this definitely beats the current Costco Amex percentages and yes Amex has sent me multiple mailers to try to get me to open their other Cashback card but my question is this Citi  card now one of the best cashback cards in general?  The other Cashback Amex has great categories and returns but they give your rewards as a statement credit and I don't want my rewards to get plowed back into the business (with our Costco reward we would take it into the store, buy something small and get cash for the rest, which was amazing).  Now that I can use Visa at Costco do you think I'd be better off using a different Visa while shopping there?  Generally I prefer to get points but I did use my Costco AMEX quite a bit for Costco, some travel and gas spending.  We spend a lot at Costco for our businesses so any advice would be greatly appreciated.

[tzifanya54]

FTR you don't need to buy anything to redeem rewards for cash. Just walk over to the register and ask them to cash it.

[Denverite]

FTR you don't need to buy anything to redeem rewards for cash. Just walk over to the register and ask them to cash it.

Yeah but we do need some stuff for our house at Costco so we never had a problem buying something 😂😂

[shmoe joe]

Citi bank is launching on June 20th a new Costco card called Costco anywhere
4% CB on gas (anywhere in the world) up to $7K a yr 1% thereafter
3% CB restaurants & travel
2% CB at Costco
1% CB elsewhere
be advised do not go into your local citi branch or else you'll be push to the wall to get this card, I was harassed today for 20 min

[sguitarist18]

Seems like a pretty good card - is there a link from Dan for it?

Also, I heard there's an AF unless you're a costco member...how do you prove that you are?

[rileywiles23]

Seems like a pretty good card - is there a link from Dan for it?

Also, I heard there's an AF unless you're a costco member...how do you prove that you are?

Put in your Costco membership number ?

[sguitarist18]

If my wife is a costco member, but I'm not, can I open the card with her membership #?

Does Dan have a link for the card?

[peace123]

i am only interesting in converting  another one of my citi card to this. looks like not yet

[tzifanya54]

i am only interesting in converting  another one of my citi card to this. looks like not yet

You tried it, and they said no?

[Iz]

FAQ's: https://www.citi.com/credit-cards/creditcards/citi.action?ID=citi-costco-credit-card-conversion

[sguitarist18]

So even if I don't currently have the COstco AMEX card, if I'm a costco member, I'll be getting a card in the mail?