Costco to Start Accepting Visa Cards -- Be Careful Out There!

Costco

Prepare to stack that shopping cart a little higher on your next trip to Costco! The big box store has ended its agreement with American Express and partnered with Citi and Visa, which will become the new issuers of credit cards for the members-only retailer starting in 2016.

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Previously, the store, known for its jumbo-sized merchandise, only accepted cash, debit, or Amex cards.

So, while you may have had your eye on a second rotisserie chicken or a set of Goodyear tires, if you didn't have the right plastic or a wad of cash, you were out of luck.

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The Costco Amex did have its advantages though as it provided card holders three percent cash back for gas purchases, two percent for restaurants and travel, and one percent back on just about everything else. Plus, there was no annual fee as long as users were Costco members. But not to worry, the warehouse giant intends to offer rewards to its Citi Visa card-holding members but hasn't revealed the terms just yet. And if your Visa card isn't issued by Citi, you can still load up on that gross of toilet paper, as the store will accept other banks' Visa cards as well. 

Sorry, MasterCard and Discover Card holders, you'll still have to stop at the ATM before purchasing that year's supply of barbecue sauce. 

Are you likely to spend more at Costco under this new agreement with Visa? 


Image via MikeMozart/Flickr

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