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Costco and Amex (AXP) announced this week that they have failed to come to terms to extend their 16-year exclusive partnership. American Express was the only credit card Costco (COST) accepted, and the TrueEarnings American Express Card doubled as customers' membership cards.
The relationship will end on March 31, 2016.
VISA will be the only Credit Card accepted at Costoc, no Discover/MC/AMEX.
This sucks for my father. The only reason he got an Amex was to have the Costco membership, so I will tell him if he wants to keep it he will have to pay for it. Unless they can do a deal with Visa, but they don't charge for their cards.
This sucks for my father. The only reason he got an Amex was to have the Costco membership, so I will tell him if he wants to keep it he will have to pay for it. Unless they can do a deal with Visa, but they don't charge for their cards.
Amex has no-annual-fee cards as well. They'll likely convert Costco cardholders to one of them after the TrueEarnings card goes away. Your father would also likely be eligible for the new Costco Visa.
Amex has no-annual-fee cards as well. They'll likely convert Costco cardholders to one of them after the TrueEarnings card goes away. Your father would also likely be eligible for the new Costco Visa.
They are reducing the number of no annual fee cards and raising the annual fee rates on numerous other cards so we will see where the trend goes
Amex has no-annual-fee cards as well. They'll likely convert Costco cardholders to one of them after the TrueEarnings card goes away. Your father would also likely be eligible for the new Costco Visa.
I didn't know that they had no fee cards, but the only reason he got Amex was for the Costco membership so I'm sure he won't keep it, it's not like he needs it.
If the Costco Visa includes membership he will get it and so will I.
I am not a fan of bulk stores, but if I can get a free membership I will indulge them.
In fact he has an old Visa that he got in the 70s that he pays a annual fee for, one time I called and they waved it for him, the next time they didn't. it's like $20 he is throwing away just so he can say "I've had this card for over 40 years"
I didn't know that they had no fee cards, but the only reason he got Amex was for the Costco membership so I'm sure he won't keep it, it's not like he needs it.
If the Costco Visa includes membership he will get it and so will I.
I am not a fan of bulk stores, but if I can get a free membership I will indulge them.
In fact he has an old Visa that he got in the 70s that he pays a annual fee for, one time I called and they waved it for him, the next time they didn't. it's like $20 he is throwing away just so he can say "I've had this card for over 40 years"
The costco Amex didn't waive the costco membership fee, I still have to pay the costco fee just not an Amex fee
The costco Amex didn't waive the costco membership fee, I still have to pay the costco fee just not an Amex fee
OR you pay the Amex free and waive the Costco fee, same thing.
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