Get ready to whip out your Visa card at Costco in 2016.
After the news that it was ending its deal with American Express last month, Costco said today that it is entering into a new co-branding credit card program with Citi and an acceptance and co-brand incentive agreement with Visa. Per Costco’s official announcement:
“Citi, the world’s largest issuer of consumer credit cards, would become the exclusive issuer of Costco’s co-brand credit cards and Visa will replace American Express as the credit card network for Costco in the United States and Puerto Rico beginning April 1, 2016. Once issued, Costco’s co-brand Visa credit card would provide generous rewards to Costco members, serve as the Costco membership card, and would be accepted at Costco locations in the United States and Puerto Rico, as well as all merchants worldwide that accept Visa credit cards.”
The retailer says it will provide its members with additional information over the coming months regarding the transition. And you can still use your Amex there until March 2016. So, no worries, you can carry on turning those bulk toilet paper buys into bonus points or air miles.