Apply VISA Card. How to Apply for the New Visa Card from Costco Stores. Costco stores will have a new co-branded credit card from June 2016. The new Costco partner to issue credit cards is Citi Bank and this is called “Costco Anywhere Visa by Citi”. Old cards in collaboration with American Express will be removed by the super store. This agreement affects consumers and establishments in the United States. This card will not be available for new application until at least June 20, 2016.
How to Apply for the Costco Visa Card
If you already have the Costco American Express you do not have to apply for the new Visa by Citi. The conversion to the new card will be automatic on June 20 2016. If you wish to continue with the Costco credit card, do not close your account, you will receive the Citi Visa between the end of May and the beginning of June by mail.
The balance and rewards in your old account (Amex) will be transferred to the new Citi Visa. You don’t have to do anything, just follow the instructions when you receive the New Costco Visa and confirm that you received it. Starting June 20, 2016 you can use your new Costco Visa and discard the old Amex / Costco card.
According to Costco, Citi will not do a credit investigation by converting the old card with the new Citi Costco Visa.
If you do not have the American Express / Costco and wish to apply for the new Citi Costco Visa, you will have to wait and request it at least as of June 20, 2016 (after the conversion).
The “Costco Visa by Citi” Rewards Card
- 4% money back on gas expenses. For the first $7,000 in expenses per year and 1% from this
- 3% money back on restaurant expenses and travel expenses
- 2% money back on all other purchases at Costco and at Costco.com
- No annual fee (for Costco members)
- It works as a Costco member card and credit card
In addition to the Costco card, there are several other options to be rewarded when shopping. Comparing the benefits and rewards of the Costco Visa with another very popular reward card (Sam’s Club Mastercard). The Sam’s Club card also has no annual fee. Other alternatives for store cards are the Walmart Mastercard and the Target Red card.