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If you're a frequent Costco shopper, the Costco Anywhere Visa® Card by Citi is something to have in your wallet. Costco Anywhere offers cash back rewards that you can use to shop at the retail...
A number of Costco members received emails from Citi, alerting them that their credit card accounts had been closed.
The warehouse club agreed to accept only Visa cards, and in exchange, the credit company lowered Costco’s merchant fee to a negligible less than 0.4 percent.
The bank's private-label credit card division, Citi Retail Services, issues store-issued credit cards for such companies as: American Airlines, Best Buy, ConocoPhillips, Costco, ExxonMobil, The Home Depot, Sears, Shell Oil, and Staples Inc.
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Prior to that, Costco credit cards had been issued by American Express since 2001, and Costco accepted only American Express cards for credit transactions. After the switch of its co-branded cards to Citi, Costco ceased accepting AmEx and began exclusively accepting Visa.
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