The new Costco card hits the road on June 20, are you ready for your Visa cashback?
As we all know, the 16-year cooperation between Costco and American Express finally came to an end in June this year, and the remarriage farce of switching to Citi and VISA finally settled. For most small partners, it is good news Hey, it will be fully changed to accept Visa cards from June 20 this year! However, there are still many doubts about the old card, the original membership, the new membership system, and the scope of the new card. Here is an explanation of the new rules for Costco card replacement for your reference.
Hold the original American Express Costco membership card
For American Express Costco members, the old card will still be valid until June 20. In addition, Citibank has begun to mail card replacement letters since April, and most people have already received new cards. All you need to do is to open the card according to the prompts on the card, and you can start spending with the new card on June 20. Many people worry about the repayment problem. Citi said that changing the card will not adjust the user’s credit history, and the original monthly repayment date will not change. The rebates, balances, and arrears accumulated on the previous Amex card will all be transferred to the new card on June 20.
After June 20, Costco will accept new rules for payment methods
Check out at Costco, you know, in addition to American Express, no other credit cards are accepted, only cash and debit cards (Debit Card). Now that the new card is implemented, Costco has also opened up to accept all Visa credit cards, which has met the expectations of many customers. Under the new regulations, Costco accepts all Visa credit cards, not only Citibank Citi Visa cards, other Visa credit cards, such as ChaseFreedom, can be used at Costco, and cash, checks, Debit Cards, EBT, Costco Cash Cards can be used, Consumption restrictions have been greatly relaxed!
Description of the benefits of the new Citi Costco card
This time, Costco has fully cooperated with Citi, which also made the editor curious. It is estimated that there will be some new instructions in the first year of this year. Let’s take a look at the new Citi card. Compared with the old card, what benefits are there to enjoy? Oh.
- Citi’s new card has no annual fee, but like American Express, there’s a Costco membership fee of $55 (no extra cashback at Costco) or $110 (an extra 2% cash back at Costco).
- 4% cashback on gas, previously 3%, not only Costco gas stations but all gas stations, 4% back on the first $7,000 of gas consumption each year, and 1% after that.
- 3% cashback on dining and travel, up from 2%.
- 2% cashback on Costco in-store and online purchases, it used to be 1%, and if it is a Costco Executive Member, there is an additional 2%.
It still sounds pretty good. It is more affordable to use as a meal card, travel card, and fuel card. But remind you, the cashback needs to go to the Costco counter to exchange for cash by collecting the Costco Annual coupon, which is a bit troublesome. In addition, there are overseas transaction fees, so don’t use them when you leave the United States.
Other Visa Card Recommendations
Now that Costco fully accepts all Visa cards, and you don’t want to apply for Citi’s new Costco credit card, here are some other Visa cards worth using.
- Chase Freedom Card Chase’s Freedom is familiar to everyone, and the first choice for a good credit card. No annual fee, 5% cashback quarterly, and 1% cashback in other quarters.
- The 5% cashback quarters this year are as follows:
- From June 20, when Costco begins accepting VISA cards, you can get 5% cashback CashBack for spending with this card at Costco within 11 days before June 30, including gas at Costco of course.
- Bank of America Cash Rewards 3% cashback on gas, 2% cashback on grocery shopping, 1% cashback on other categories
- No annual fee, no credit history to apply, and sign-up bonus.
- 0% Intro APR for the first year of card opening (just pay MinimumPay, and the remaining balance will not charge interest).
- PenFed Platinum Rewards Visa includes 5% cashback on all gas station purchases including Costco gas stations, 3% cashback on supermarket purchases, and 1% on other categories.
- No annual fee, sign-up bonus, or no overseas transaction fees.
- Get 2% cashback on any purchase with Citi Double Cash.
- No annual fee, 3% overseas transaction fee
- Within 18 months of opening the card, the Intro APR will increase by 0% (you only need to pay MinimumPay, and the remaining balance will not charge interest).
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