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Costco Wholesale Corp. has named Citi and Visa as its new credit card partners.
The agreement calls for Citi, the world’s largest issuer of consumer credit cards, to be the exclusive issuer of Costco’s co-brand credit cards, and for Visa to replace American Express as the credit card network for Costco in the U.S. and Puerto Rico, beginning April 1, 2016.
The co-brand Visa credit card will serve as the Costco membership card and provide benefits to members of the warehouse club. The card will be valid in the U.S. and Puerto Rico, as well as with all merchants around the world that accept Visa.
Costco operates 671 warehouses, including 474 in the U.S. and Puerto Rico.