Heads up Costco members! On June 20th, Costco will be switching their co-branded card from American Express to Visa. That means you'll no longer be able to use your AmEx at Costco starting 6/20 (it will be automatically canceled on that day). If you currently use the AmEx card, you don't need to apply for the new CitiBank Costco Visa card, you will be mailed the new Citi card info in May.
The cash-back bonuses will change somewhat with the new card. Here's a rundown:
- 4% cash back on eligible gas worldwide, including Costco, for the first $7,000 per year and then 1% after that
- 3% cash back on restaurant and eligible travel purchases worldwide
- 2% cash back on all other purchases from Costco and Costco.com
- 1% cash back on all other purchases
And no need to worry about the rewards you've already earned – your current rewards will be transferred automatically to your new card on 6/20.
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