Costco has finally set a hard date for its switch from American Express to Visa. Beginning June 20, 2016 the wholesale chain will no longer accept American Express cards, including its own co-branded cards, in favor of Visa. Earlier this year, the chain announced that there would be a delay in the switch, but it seems that the date is finally settled. Customers now will be able to use Visa cards, including those without Costco branding, such as the Chase Freedom.
Current Costco Amex cardholders will automatically be switched to a new Costco Citi card from Citibank as part of the new co-branded program. If you’re a Chase Freedom cardholder, this is especially good news as you’ll be able to take advantage of Chase’s latest 5% bonus category, which includes wholesale clubs. Note that this bonus is only valid through the end of June, so there won’t be too much time to spend with the increased rewards.
BEFORE JUNE 20TH:
Your new Costco Anywhere Card will be mailed between the end of May and early June. Keep using your Costco Card from American Express® until June 19, 2016.
ON JUNE 20TH:
Start using your new Costco Anywhere Card on June 20, 2016 and destroy your old card. Visit citi.com/CostcoSetup to register your account for online access. Provide your new card information to merchants who automatically bill your card.
Read more: thepointsguy.com