Thursday, March 31, 2016

Costco's Generous New Credit Card Will Be a Boon for the Retailer

The Citi card will offer Costco members 4% cash back on up to $7,000 spent on gas, compared to 3% back up to $4,000 with Amex. Cardholders will also get 3% back on restaurants and travel, a point higher than with the Amex cards. There is no annual fee but shoppers will need to pay for a $55 annual Costco membership.

As Costco looks to fend off Sam’s Club’s efforts to win new business, the new Visa card may offer the discount retailer a helping hand. As Sean McQuay, credit card expert for Nerdwallet, told the Chicago Tribune this week, the Visa card could entice people who aren’t currently Costco shoppers.. . . more

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