Costco Enters Co-Brand Credit Card Agreement With Citi - Quick Facts

(RTTNews) - Costco Wholesale Corp. (COST) announced it has entered into a new co-brand credit card program agreement with Citi and an acceptance and co-brand incentive agreement with Visa. Under the terms of the agreement, Citi would become the exclusive issuer of Costco's co-brand credit cards and Visa will replace American Express as the credit card network for Costco in the United States and Puerto Rico beginning April 1, 2016.

Costco said, once issued, its co-brand Visa credit card would provide generous rewards to Costco members, serve as the Costco membership card, and would be accepted at Costco locations in the United States and Puerto Rico, as well as all merchants worldwide that accept Visa credit cards.