I wanted clarification on this new relationship Costco is starting with Citibank when they end their agreement with Amex.
So, I called the local CostCo. Here's what I learned:
1. The new Citibank cards come out next spring, so between now and then, you can just use your Amex as normal.
2. The Amex card accounts will automatically be transferred to Citibank and the old Amex accounts will be shut down.
3. They don't yet have all the details in the store, but the Citibank relationship is supposed to be better than the Amex one is/was.
4. Any rewards accrued during the transition will automatically role to the new Citibank CC.
5. Citibank is not running new credit checks on the customers who are rolling over from Amex.
6. More info will be mailed about this during the next year.
Re: PSA: Costco and Amex and CitiBank
Thanks for the post! That is very different than what I was expecting. I thought my Amex account would stay open...with Amex...and I would then have to apply for the new Citibank/Costco card.
What Costco told you sounds MUCH better and more convenient.