SAVINGS ARE IN THE CARD
CONTINUED FROM PAGE 35
ship card as well as a credit card” and pos-sesses technology for enhanced security and
fraud protection. The card has an EMV
chip, as well as an embedded antenna for
contactless payments, while the membership number is embedded in the magnetic
stripe in addition to being on the back of the
card in bar-code form.
Citi’s commitment to
Citi has a team of employees dedicated
to the Costco account, made up of customer
service agents (available 24/7), fraud and
risk analysts, underwriters and more.
Greer says that at Citi, offering stellar
customer service is paramount: “Costco’s
members expect the same high-quality value
in the Visa card that they have come to
expect when they shop at Costco, and we are
committed to delivering on this.”
Latham agrees. “[Costco and Citi are]
well aligned in terms of what’s important,
and that is providing the very best value and
the highest level of service to our mutual cus-
tomers, our mutual members. Our hope is
that this will be a credit card portfolio that
performs very well for Citi, and that we’ll be
able to utilize some of their resources to help
us continue to grow our membership base.”
Whether you’re getting a new card auto-
matically or considering signing up, Latham
says there’s no question that members have
multiple opportunities, anywhere and
everywhere, to earn significant cash back:
“With no limits on the total reward coupon,
the new Costco Anywhere Visa Card should
be the most popular payment method in
your wallet.” C
CASH BACK REWARDS
CITI PRIVATE PASS: Access to presale, discounted and
preferred-seating tickets and VIP packages for music, sports,
dining and more.
EXTENDED WARRANTY: Provides up to two extra
years added to a manufacturer’s warranty if purchased with the
consumer card, and one year for business cards.
DAMAGE AND THEFT PURCHASE PROTECTION:
May cover repairs or a refund if purchases made with your Citi card
and/or your Cash Back Rewards coupon are damaged or stolen
within 120 days of purchase ( 90 days for New York residents).
WORLDWIDE CAR RENTAL INSURANCE: Coverage
for rental cars against theft and damage when you pay with your
VISA SAVINGSEDGE (BUSINESS MEMBERS):
Business members may enroll their cards at the Visa SavingsEdge
website ( visasavingsedge.com) to receive automatic savings on
qualifying purchases at participating merchants.
EMV CHIP and tap-and-go payment
ANNUAL REWARD COUPON: Redeemable for merchandise or cash back. Issued with your February statement each
year. Valid until December 31 of the issuing year.
For a full list of benefits, visit citi.com/Costco
COSTCO: 2 percent cash back on all other purchases from Costco and Costco.com.
RESTAURANT & TRAVEL: 3 percent cash back
on restaurant and eligible travel purchases worldwide.
ELIGIBLE GAS: 4 percent cash back on eligible gas
worldwide, including gas at Costco, for the first $7,000
per year and then 1 percent thereafter.
ALL: 1 percent cash back on all other purchases.
Because this card has a wider acceptance worldwide, there are many more opportunities to earn.
All Visa cards
ON JUNE 20, Costco began accepting all Visa credit cards and stopped accepting
American Express, a move that Paul Latham, senior vice president of membership,
marketing and services at Costco, says makes business sense.
“There are more than 300 million Visa cards in the U.S., and fewer than 50 million
American Express cards,” he says. “So we’re opening up the opportunity to shop at
Costco to a much larger audience of existing Visa cardholders, and that’s a big deal.”
Bigger, better rewards
We had a lot of passionate discussions
internally about the best way to return value
to the member. And in the end, we chose
to improve the rewards on this card.
—Paul Latham, Costco senior vice president