American Express platnum costco cash rebate card

razdigital · 08:49 PM

From the sticky it seems that this card has been retired to the pastures. Anyone have the card converted to something or has amex left you alone thus far. Any future plans to convert it and what card?

My parents have this as their oldest card, if it gets closed its going to shoot down the credit score a bit.
If mod desires please move to AMEX forum. I will hold no grudge.

Mogul of Pineapples · 11:14 PM

Hi and welcome to the forum. As far as I know there are no plans for American Express to end the Costco Cash Rebate card. Right now Amex has an exclusive partnership with Costco, where Costco only accepts American Express cards for payments at their stores. This is a very lucrative partnership for Amex from all the business that generates for them. As part of this deal, Amex is the exclusive issuer also of the Costco credit cards. With that being said, even if the Costco credit cards perform bad, Amex would never get rid of them since they are part of that lucrative exclusive agreement.

The Amex Costco Cash Rebate card that has gone to the backburner is mostly the Business version of the card. Because of the economy small business credit cards are very high risk and a loser for the industry. This is why Amex has stopped pushing the Amex Costco Cash Rebate Business card. It's still available and will be because of their partnership, but it's not something they're exactly encouraging people to get.

If your parents have the regular Costco Cash Rebate card (non-business version) I would say they are probably safer than if they had a regular credit card. That exclusive contract with Costco really ensures Amex will offer that card "no matter what" because they would not want to lose Costco as a partner.

I'm also going to go out on a limb here and say that Costco members are probably lower risk than the rest of the population. If they care about saving money they probably care about paying their bills on time and in full too. Except for the business version of the Costco credit card, I bet the regular version is still a very profitable enterprise for Amex.

But you said their card is platinum? I didn't know the Costco credit cards had a distinction level- Gold, Platinum, etc.

Cucumber · 01:40 AM

The Costco credit card is still really popular *I think* so I don't know why Amex would ever get rid of it even if this partnership agreement didn't require it.

Why get rid of a card that increases your cardmember base and makes you a lot of $$$$$

fffresh · 02:07 PM

The exclusive partnership agreements, such as this one and the Delta partnership, are perhaps the most lucrative areas of business for American Express. The Delta partnership was recently renewed for a multi-year deal valued at $15 billion if I recall correctly. While I do not know the details of the Costco partnership, one can safely say Amex is paying several billion dollars for it.

indianamom · 03:12 PM

I canceled my Costco membership ages ago. With the kids all grown up and out of the house it didn't make any sense. You can find better deals at grocery stores by doing the generics and sale items. Not only do you not have to pay a warehouse club membership fee but you also don't have to buy in bulk.

fffresh · 11:44 AM

Costco is still a good value if you purchase large amounts of office supplies, wine, household items of some types. Generally speaking, however, you are correct in that the membership fee is not worth it for many individuals.

1bootcamp · 04:34 PM

Costco and Walmart are rocking right now because everyone is shopping at the cheap places. You know I saw yesterday that Wal-Mart wants to target the richer customers and change their image to something more like Target. With that coming about you think they will do a Walmart credit card with Visa or Mastercard? If they wanted to go high-class they should go with an American Express but I don't think that will fly as long as this Costco deal is in place.

ntvinh986 · 01:55 AM

Quote:

Originally Posted by razdigital

From the sticky it seems that this card has been retired to the pastures. Anyone have the card converted to something or has amex left you alone thus far. Any future plans to convert it and what card?

My parents have this as their oldest card, if it gets closed its going to shoot down the credit score a bit.
If mod desires please move to AMEX forum. I will hold no grudge.

Thanks you for the post.

1bootcamp · 01:02 AM

Thanks for the post? cant these bs spammers be at least original with their fake posts

08:49 PM	#1
razdigital Green Member Join Date: Feb 2009 Location: out of the world Posts: 1	American Express platnum costco cash rebate card From the sticky it seems that this card has been retired to the pastures. Anyone have the card converted to something or has amex left you alone thus far. Any future plans to convert it and what card? My parents have this as their oldest card, if it gets closed its going to shoot down the credit score a bit. If mod desires please move to AMEX forum. I will hold no grudge.

11:14 PM	#2
Mogul of Pineapples Centurion Member Join Date: Jun 2008 Location: Where the smog from the 101 freeway coats my home's windows... Posts: 634	Hi and welcome to the forum. As far as I know there are no plans for American Express to end the Costco Cash Rebate card. Right now Amex has an exclusive partnership with Costco, where Costco only accepts American Express cards for payments at their stores. This is a very lucrative partnership for Amex from all the business that generates for them. As part of this deal, Amex is the exclusive issuer also of the Costco credit cards. With that being said, even if the Costco credit cards perform bad, Amex would never get rid of them since they are part of that lucrative exclusive agreement. The Amex Costco Cash Rebate card that has gone to the backburner is mostly the Business version of the card. Because of the economy small business credit cards are very high risk and a loser for the industry. This is why Amex has stopped pushing the Amex Costco Cash Rebate Business card. It's still available and will be because of their partnership, but it's not something they're exactly encouraging people to get. If your parents have the regular Costco Cash Rebate card (non-business version) I would say they are probably safer than if they had a regular credit card. That exclusive contract with Costco really ensures Amex will offer that card "no matter what" because they would not want to lose Costco as a partner. I'm also going to go out on a limb here and say that Costco members are probably lower risk than the rest of the population. If they care about saving money they probably care about paying their bills on time and in full too. Except for the business version of the Costco credit card, I bet the regular version is still a very profitable enterprise for Amex. But you said their card is platinum? I didn't know the Costco credit cards had a distinction level- Gold, Platinum, etc. __________________ “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.” -Warren Buffett Current Cards: American Express: Blue Cash, Simply Cash Bank of America: Visa Financial Rewards Platinum Plus Chase: Rewards Visa, Amazon Visa Discover: More Current Everyday Card: American Express Blue Cash

01:40 AM	#3
Cucumber Centurion Member Join Date: Apr 2008 Location: Zuma Posts: 456	The Costco credit card is still really popular I think so I don't know why Amex would ever get rid of it even if this partnership agreement didn't require it. Why get rid of a card that increases your cardmember base and makes you a lot of $$$$$ __________________ OBAMA Stop talking crap about him and give him a chance!

03:12 PM	#5
indianamom Gold Member Join Date: Oct 2008 Location: Bloomington Posts: 35	I canceled my Costco membership. I canceled my Costco membership ages ago. With the kids all grown up and out of the house it didn't make any sense. You can find better deals at grocery stores by doing the generics and sale items. Not only do you not have to pay a warehouse club membership fee but you also don't have to buy in bulk.

04:34 PM	#7
1bootcamp Centurion Member Join Date: Apr 2008 Location: Big Island, Hawaii Posts: 110	Walmart credit card status? Costco and Walmart are rocking right now because everyone is shopping at the cheap places. You know I saw yesterday that Wal-Mart wants to target the richer customers and change their image to something more like Target. With that coming about you think they will do a Walmart credit card with Visa or Mastercard? If they wanted to go high-class they should go with an American Express but I don't think that will fly as long as this Costco deal is in place.

02:07 PM	#4
fffresh Centurion Member Join Date: Apr 2008 Location: the edge of the world Posts: 417	The exclusive partnership agreements, such as this one and the Delta partnership, are perhaps the most lucrative areas of business for American Express. The Delta partnership was recently renewed for a multi-year deal valued at $15 billion if I recall correctly. While I do not know the details of the Costco partnership, one can safely say Amex is paying several billion dollars for it.

11:44 AM	#6
fffresh Centurion Member Join Date: Apr 2008 Location: the edge of the world Posts: 417	Costco is still a good value if you purchase large amounts of office supplies, wine, household items of some types. Generally speaking, however, you are correct in that the membership fee is not worth it for many individuals.

01:02 AM	#9
1bootcamp Centurion Member Join Date: Apr 2008 Location: Big Island, Hawaii Posts: 110	Thanks for the post? cant these bs spammers be at least original with their fake posts

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode