If you have an American Express Costco acclaim agenda in your wallet, you’ll appetite to accumulate a aing eye on your mail.
Citi has announced that it will be sending out its new Costco Anywhere Visa acclaim card, alpha in May. The agenda is replacing the TrueEarnings Agenda from Costco and American Express. The aggregate banker concluded its abiding absolute affiliation with Amex aback in March 2015.
You won’t need to administer for the new agenda and Citi won’t be affairs your acclaim abode as allotment of the anniversary alteration process. (In added words, you don’t charge to anguish about a adamantine analysis dinging your acclaim score.) You can abide application your Amex agenda in food until June 19. After that, you’ll charge to accept your new Citi agenda accessible to go to boutique at Costco food or online. Citi said on its website anyone who afflicted their abode aback applying for the agenda should call the cardinal on the aback to amend their acquaintance information.
The new card, like the old one, doesn’t technically backpack an anniversary fee, but you charge a Costco membership, which costs at atomic $59 a year (depending on the associates type), to qualify. Your new Citi agenda will serve as your Costco associates card; anyone who is currently advantageous their associates fee through automated payments with their Amex agenda will automatically be accustomed to do so with the Citi version.
What You Charge to Know About Your Rewards
As for the rewards agreement and conditions, Citi’s new Costco agenda allows acceptable cardholders to acquire 4% banknote aback on acceptable gas purchases (on up to $7,000 of gas purchases per year, again 1% back); 3% aback at restaurants and on acceptable biking purchases; 2% aback on Costco and Costco.com purchases and 1% aback everywhere. That improves aloft the Amex version’s accolade structure, which offered 3% banknote aback on gas (up to $4,000), 2% aback at restaurants and acceptable biking and 1% back everywhere else.
One abeyant concise downside to the anniversary transfer: While cardholders won’t lose any of the banknote aback they’ve accrued with their Amex Costco card, they won’t be able to alteration any American Express-specific associates rewards over to the new account. All banknote aback will be transferred over by the June 20 alpha date.
Some More Housekeeping
Account balances, too, will backpack over. Citi said annual payments should be directed to whichever issuer you accept a annual from.
Remember, if you accept any automated or alternating payments affiliated to your old American Express card, you’ll charge to amend the anniversary advice with the merchant. You’ll additionally charge to set up automated bill pay on the new anniversary if you ambition to accomplish your annual payments from a affiliated blockage account. Forgetting to do either could aftereffect in absent payments, which could wind up affecting your acclaim score. You can see area your acclaim currently stands by examination your two chargeless array anniversary ages on Credit.com.
Citi will be sending abounding agreement and altitude — forth with acquittal due dates and absorption ante — with the new card, so you’ll appetite to apprehend these anxiously to apprentice if the alteration is affecting your anniversary in any added way. You can acquaintance a Citi chump annual adumbrative about these capacity if you accept any questions.
Note: It’s important to bethink that absorption rates, fees and agreement for acclaim cards, loans and added banking accessories frequently change. As a result, rates, fees and agreement for acclaim cards, loans and added banking accessories cited in these accessories may accept afflicted aback the date of publication. Please be abiding to verify accepted rates, fees and agreement with acclaim agenda issuers, banks or added banking institutions directly.
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