Costco flips the credit card switch

The American Express card is now history at Costco Wholesale Club.



As of June 20, Costco is accepting only Visa-branded credit cards chain wide.



The retailer made headlines last year when it announced that, after 16 years, it was dropping American Express as its exclusive credit card provider and switching to Visa.



In line with the change. Costco has switched its store-branded credit card from the TrueEarnings Card from Costco and American Express to the new Costco Anywhere Visa Card by Citi. Similar to the TrueEarnings card, the new card will offer cash-back rewards redeemable at Costco. Some of the new card’s features include:



• 4% cash back rewards on eligible gas worldwide for the first $7,000 and then 1% after;



• 3% cash back rewards on restaurant and eligible travel purchases worldwide;



• 2% cash back rewards on all other purchases from Costco and Costco.com; and



• 1% cash back rewards on all other purchases.