Costco replacing Amex with Visa in 2016

I don't know if many of you remember, but Costco was Discover card only awhile back, prior to Amex. (I'm thinking mid-late 90's)

My guess is most people that have Amex also carry MasterCard and/or Visa. I don't get the logic of dropping Costco because of using Amex "99%" of the time. I prefer Amex too, but I wouldn't let a credit card drive where I give my business. Plus, it seems there's more than 1% of places that take Visa (or MC), but don't take Amex.

I don't think details on the new Costco Visa have come out yet, but I would imagine the perks would be roughly the same as the current Amex. If not, I'll just use a Visa I already have. Dropping Costco isn't an option.
 


I very rarely run across an establishment, that doesn't accept AMEX, so not a problem. I like the ease of paying one bill each month (yep, I'm one of those people). I love AMEX customer service and perks.

I also do a lot of online shopping. It's not hard to meet or beat Costco prices, WITHOUT paying an annual membership fee...AND my purchases are delivered to my doorstep.
 
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The following discussion has some age appropriate language, but expresses why many retailers and restaurants hate AMEX.

http://www.reddit.com/r/TalesFromYo.../you_dont_take_amex_but_i_really_want_you_to/

And I'm not saying everyone fits this, but quite a few in customer service have issues with a higher proportion of AMEX customers, like this guy:

Personal experience with AmEx has shown me that what it attracts are higher maintenance customers, customers who are more likely to create headaches later on, and more people with entitlement issues than any other card. And considering how much more they charge the merchant than any other card it's a %#%}{ wonder any business accepts it.
Click to expand...

One can just read the horror stories from retailers that accept it and don't like it, as well as those who stopped accepting it. I've encountered stores where the owner just said he had it on the door but would rather his customers pull out something else. They're notorious for having the latest payments, keeping the entire transaction fee when there's a refund, and withholding large amounts when there's a dispute. Smaller retailers are where AMEX makes a lot of money, and the places that hate them the most. The larger retailers and restaurants get the best rates and the best treatment from AMEX. They don't have the same margins for AMEX but keeping them at least keeps the names out there as accepting it.
 
TLSnell1981 said:
I very rarely run across an establishment, that doesn't accept AMEX, so not a problem. I like the ease of paying one bill each month (yep, I'm one of those people). I love AMEX customer service and perks.

I also do a lot of online shopping. It's not hard to meet or beat Costco prices, WITHOUT paying an annual membership fee...AND my purchases are delivered to my doorstep.
Click to expand...
Another advantage of AMEX is that they double the m manufacturer's warranty of all electronics you purchase. All of my iPhones and computers have been purchased on my AMEX card. My last laptop died 23 months after I purchased it and was out of the manufacturer's warranty. I brought it into a local computer place for an estimate, filed a claim with AMEX and they refunded my purchase price.

This move does bum me out since I was starting to transition over from the Disney Visa to the Costco AMEX card. I think that we will not be visiting WDW as much as we have in the past and the rewards are not as useful to me. I prefer cold, hard, rewards cash. I especially like the 3% I get back from gas purchases. I made up for the cost of the card JUST ON THAT ALONE.
 


We whiny, high maintenance, entitled patrons, who cause headaches....pay AMEX to cater to our every whim. It's why the loyal love them so... :upsidedow :teeth: :p
 
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Does anyone know what will happen to our cash rewards in March 2016? We have been considering canceling our Costco American Express for years but our membership renewal is in Nov or Dec (can never remember) and then the cash reward check doesn't come until Feb. We never knew what would happen to the rewards from Feb. to renewal time if we chose to cancel...hence, we still have the card.
 
kjetjl said:
Does anyone know what will happen to our cash rewards in March 2016? We have been considering canceling our Costco American Express for years but our membership renewal is in Nov or Dec (can never remember) and then the cash reward check doesn't come until Feb. We never knew what would happen to the rewards from Feb. to renewal time if we chose to cancel...hence, we still have the card.
Click to expand...

Not clear yet, but why cancel if there's no fee?

They'll probably transition to something else by then.
 
I'm in Canada, and the Costco Amex was cancelled at the end of Dec. 2014. I got my final cheque from them in January. Amex sent me a simple application and I got a new card from them that gets cash back each year, and I can use my Mastercard at Costco if I want (although I mostly use debit everywhere). It was all pretty painless.
 
Considering Visa has a 52% market share and Amex 12%, I don't think Costco will be hurting too much with the change.
 
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