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College-educated women are snapping up the highest-earning men without college degrees, leaving the rest further behind

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College-educated women are snapping up the highest-earning men without college degrees, leaving the rest further behind

2

The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'

3

An 11-year-old is cleaning his neighbors' trash cans for $10 each—he now has 100K followers as teens face the worst summer job market since 1948
RetailCostco

Here’s What You Need to Know About Costco’s Switch From AmEx to Visa

By
Michal Addady
Michal Addady
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By
Michal Addady
Michal Addady
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June 20, 2016, 1:01 PM ET
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After a 16-year relationship with American Express (AXP), Costco (COST) has officially moved on with Visa (V).

The discount wholesaler announced its new partnership with Citigroup (C) last year, which made the company the exclusive issuer of Costco co-branded credit cards, and American Express was replaced with Visa as the retailer’s credit card network. Sunday was the last day to use the Costco TrueEarnings American Express, and Monday was the first time customers could break out their new Costco Anywhere Visa Card by Citi, Consumerist reports.

The AmEx cards have been automatically canceled, and Costco members should have already received their new Visa cards in the mail. It’s now the only credit card accepted at Costco stores, though customers will also be able to make purchases with both Visa and MasterCard debit cards.

Fortune previously reported that the new Visa card is a step up from the TrueEarnings American Express. Cash-back rewards increased to 3% on restaurant and travel purchases, and to 4% on up to $7,000 spent on gas. Technically there’s no fee for the card, though you still need to pay your $55 annual Costco membership fee.

 

The more generous Visa could help Costco attract new customers, helping it combat recent efforts by Sam’s Club to steal shoppers away.

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