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- Costco stores no longer accepts American Express as a method of payment, Visa is now exclusively accepted as the method of payment.
- The Costco American Express Card is now caput. The new Costco credit card is a …. (you guessed it) Visa card issued by Citibank.
- Costco, as a warehouse store, will be a 5% category for the Chase Visa Freedom card for the remainder of the year.
But, what if you don’t want to pay by Visa card? Are you stuck?
Answer: yes and no. When Costco exclusively accepted American Express cards, it was a well-known trick to buy Costco Cash Cards online with a Visa or MasterCard.
So, I just did an experiment fully expecting to be able to buy a Costco Cash Card online with an American Express Card. I was wrong. American Express isn’t even accepted online at Costco.com anymore.
While you cannot use an American Express card online at Costco.com, you are not bound by the EXCLUSIVELY VISA rule. Instead, if you are making a purchase online at Costco.com, in addition to Visa, you can pay with MasterCard or Discover cards. Good to know!
Two other questions come to mind: First, will there be another Groupon or Living Social deal for Costco membership anytime soon? Answer: I don’t know, but I’m guessing there will be. Second, what happens if you purchase an item at Costco online with a non-Visa credit card, and return it at a Costco Warehouse store – will you receive a credit of some sort or a refund? Answer: I don’t know but I’m guessing we’ll know soon enough.
Editorial Note: The opinions expressed here are mine and not provided, reviewed, by any bank, card issuer, or other company unless otherwise stated.