Mike Mozart

Costco Credit Card Switch Came With Unexpected Side Effect: Lost Insurance

When Costco announced it was ditching its exclusive co-branded American Express card in favor of a Citibank-issued Visa card, customers worried about the various ways this switch could affect their finances and credit, but one family says the change in card networks resulted in them losing an insurance policy. [More]

(Mike Mozart)

Costco’s Credit Card Transfer Issues Didn’t Affect Sales, Profits

Costco’s complicated, complaint-riddled switch from an American Express-branded store credit card to a Visa Citi card may have been a big issue for the membership store’s customers, but it apparently wasn’t a problem for the company’s bottom line.  [More]

The.Comedian

Court: American Express Can Stop Stores From Steering Customers To Less-Expensive Cards

When you pay with a credit card, you’d probably like to know if you could save money by using one type of card over another. However, stores that accept American Express are barred from steering customers toward less-expensive cards. Last year, a federal court ruled that AmEx’s policy violates antitrust laws, but today a federal appeals court overruled that decision. [More]

Mike Mozart

Costco Officially Switches From AmEx To Visa Today

It’s officially out with the old and in with the new at Costco today, as the company closes the book on its 16-year relationship with American Express in exchange for its new deal with Citi Visa.  [More]

Mike Mozart

Will Costco’s Switch From American Express To Visa Affect My Credit?

In June, Costco will officially change its store-branded credit card from American Express to a Visa card issued by Citi. The wholesale club is promising a seamless transition, but some longtime Costco customers have concerns: Will my credit score or history be dinged? Can I opt-out?  [More]

Mike Mozart

Citi Will Send Members’ New Costco Visa Cards In May

This June, things will change at Costco: the warehouse retailer will change its official, store-endorsed credit card from a Costco-branded American Express card to a Costco-branded Visa card from Citi. We now know that the new cards will start being mailed out in May, and what kinds of rewards users will be able to expect. [More]

seishin17

AmEx Signs Deal With Boxed, Which Is Kind Of Like An Online Costco

Last year, Costco announced the end of its longtime exclusive relationship with American Express. The end of the deal wasn’t as great for AmEx, since the captive audience was good for its business, and shareholders were unhappy. As the official breakup date approaches in June, AmEx is looking for a new bulk-selling credit card buddy, and has perhaps found one in Boxed. [More]

(Ciaran McGuiggan)

Supermarket Chain Sues Credit Card Companies Over Costly Chip Card Delay

Nearly five months ago, new credit card rules went into effect making retailers liable for fraudulent purchases if they haven’t upgraded their checkout technology to accept more secure, but far from perfect, chip-enabled cards. While some retailers have installed the card readers, many haven’t turned them on. But according to a new class-action seeking lawsuit, it’s not their fault.  [More]

Costco Credit Cards Will Officially Switch To Citi, Visa In June

Costco Credit Cards Will Officially Switch To Citi, Visa In June

For more than a year now, Costco has been preparing to take its store-branded credit card business in a new direction. Specifically, it’s transferring its credit card network from long-time partner American Express to Citigroup and Visa. After hitting a few snags in the road, the shopping club now plans to make things official in June.  [More]

All You Have To Do To Fly Free Forever Is Put A $170M Purchase On Your American Express Card

All You Have To Do To Fly Free Forever Is Put A $170M Purchase On Your American Express Card

Are you sick and tired of shelling out money every time you want to fly somewhere? If you’ve got the right credit card and an urge to spend some millions, you’ll be set: a billionaire who won a rare painting at auction for $170 million will never have to pay for a flight again when the sale goes through on the American Express card he plunked down to buy the artwork.

[More]

San Francisco Sues American Express, Alleging Illegal Restraints On Merchants

San Francisco Sues American Express, Alleging Illegal Restraints On Merchants

The Chip-And-PIN Credit Card Era Starts Today. What You Need To Know

The Chip-And-PIN Credit Card Era Starts Today. What You Need To Know

Over the past few months, you may have noticed more retailers adorning their checkout stands with shiny new credit card readers. While those systems still have an area along the side where you swipe your card’s magnetic strip, they also have a smaller slot (typically) on the front where you simply jam gently insert your card. This is all part of the country’s shift toward more secure, but far from perfect, chip-enabled cards that kicks into high-gear today. [More]

Sam’s Club Expands To Accept American Express Cards Starting Oct. 1

Sam’s Club Expands To Accept American Express Cards Starting Oct. 1

Back in February, American Express and Costco announced that they’re breaking up in 2016. That means AmEx, including the Costco co-branded cards, will be useless at the warehouse store. Now, seven months later, the credit card company reveals its entering into a relationship with Costco rival Sam’s Club, allowing shoppers at that warehouse store to use AmEx cards at the register for the first time. [More]

AmEx Introduces Prepaid Debit Card With Rewards For Spending

AmEx Introduces Prepaid Debit Card With Rewards For Spending

Now that its retail partner Costco has moved on to different credit cards, AmEx is apparently looking for some new customers who are a little downmarket from their old ones. Like its pal Bluebird, the card is reloadable and can even accept direct deposits from your employer. It offers one extra thing as an incentive to go prepaid: cash-back rewards like a credit card. [More]

Investors Sue American Express After Loss Of Costco Agreement

Investors Sue American Express After Loss Of Costco Agreement

Five months after American Express and Costco announced they would go their separate ways and end their exclusive relationship – essentially allowing members of the warehouse club to use other cards – shareholders for the credit card company have filed a lawsuit claiming it blindsided investors with the loss of the contract. [More]

American Express Creates Its Own Version Of PayPal: Amex Express Checkout

American Express Creates Its Own Version Of PayPal: Amex Express Checkout

It might be hard for one to argue that there’s a lack of options when it comes to digital wallets and mobile payment systems. The list that includes among others Apple Pay, PayPal, Google Pay, and Square is getting longer as American Express announced today that it would make a foray into the increasingly crowded sector with Amex Express Checkout. [More]