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Citi will be new partner for Costco


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Yes, I was thinking of instant D* for Barclays and Citi.

The question is, what if you are or were blacklisted with the above. Then what ? They transfer your account over (per the agreement) then close it on you ?

 

It might be a way back in, if they decide to keep them.

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So for those who have the Amex Costco, do we think that the D* will go along with your account when Citi purchases the portfolio or will it report as a new account?

 

When Citi purchased the BB portfolio from Cap One it retained the age. I'm assuming this would be the same.

 

 

I'm just wondering if Citi would report the actual opening date of the card though since they D* and it's widely known by other issuers.

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Amex *D is based on Member since date, not the card open date. I would assume they will report the card open date to Citi when they sell the portfolio.

 

I believe that's what will happen, although it might be a good idea to grab a Costco Amex now just in case.

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Yes, I was thinking of instant D* for Barclays and Citi.

The question is, what if you are or were blacklisted with the above. Then what ? They transfer your account over (per the agreement) then close it on you ?

 

It might be a way back in, if they decide to keep them.

they should move the line over and just keep it where it is when it was purchased. No CLI's, upgrades or PC's will be available to you.

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Gf's friends were visiting over the weekend and the Costco - Amex was one of their concerns as they both use Amex at Costco now. They had picked up from the media that Amex would be discontinued in April and thought it was April 2015. I wonder how many others have thought that.

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Amex *D is based on Member since date, not the card open date. I would assume they will report the card open date to Citi when they sell the portfolio.

 

I believe that's what will happen, although it might be a good idea to grab a Costco Amex now just in case.

 

 

I wouldn't be too sure about that.

 

That would require Citi changing the way a current account is reporting. I think that would be a sticky situation.

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So, my AmEx TE will be automatically converted to AmEx?? Don't wanna lose that D*1984

 

AND Costco will send out Citi Visa's to replace TE??

 

I don't even know what you just posted...

 

My American Express Costco branded True Earnings card will be converted to WHAT American Express card, plain vanilla, Blue Sky or what?

Will this now defunct card, American Express Costco True Earnings now be converted by Costco to a Citi Visa

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I had no idea Jimmy Buffett was so influential on CNBC. :dntknw:

Jimmy Buffett and Warren Buffett are actually related.

No they're not, silly goose. :P

 

 

Like I said, they were less interested in the content than they were Buffet. Buffet is a prize and gets them viewers and clicks and links, which is how they make their revenue. Who cares about accuracy? :P

I had no idea Jimmy Buffett was so influential on CNBC. :dntknw:
Well now you know. But if it is of any consolation to your denseness, I didn't realize my phone kept correcting Buffett to Buffet. :)

My "denseness" was too polite to call attention to yours. :angel: And we both know how "dense" I really am. ;)

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So, my AmEx TE will be automatically converted to AmEx?? Don't wanna lose that D*1984

 

AND Costco will send out Citi Visa's to replace TE??

 

I don't even know what you just posted...

 

My American Express Costco branded True Earnings card will be converted to WHAT American Express card, plain vanilla, Blue Sky or what?

Will this now defunct card, American Express Costco True Earnings now be converted by Costco to a Citi Visa

 

 

It appears Citi is purchasing the Amex TE portfolio...meaning Citi will by buying your account and your Amex TE will cease to exist as you know it. Just like if a company purchases your mortgage from another company.

 

This is also why I believe the open date will not change, the account history will just move forward. Since it is changing issuers, processors etc, I would think the Amex account will show up on your reports as sold/transferred, and the "new" Citi account will show up with the same open since date etc but with new bank and account info.

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Like I said, they were less interested in the content than they were Buffet. Buffet is a prize and gets them viewers and clicks and links, which is how they make their revenue. Who cares about accuracy? :P

I had no idea Jimmy Buffett was so influential on CNBC. :dntknw:
Well now you know. But if it is of any consolation to your denseness, I didn't realize my phone kept correcting Buffett to Buffet. :)

My "denseness" was too polite to call attention to yours. :angel: And we both know how "dense" I really am. ;)

 

 

smileys-kisses-527742.gif

Edited by Konrad2012
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Like I said, they were less interested in the content than they were Buffet. Buffet is a prize and gets them viewers and clicks and links, which is how they make their revenue. Who cares about accuracy? :P

I had no idea Jimmy Buffett was so influential on CNBC. :dntknw:
Well now you know. But if it is of any consolation to your denseness, I didn't realize my phone kept correcting Buffett to Buffet. :)

My "denseness" was too polite to call attention to yours. :angel: And we both know how "dense" I really am. ;)

Caveman_zpsmmdjwyyo.gif

FYP. TangoGirl_zpsrgmdaqyk.gif

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Gf's friends were visiting over the weekend and the Costco - Amex was one of their concerns as they both use Amex at Costco now. They had picked up from the media that Amex would be discontinued in April and thought it was April 2015. I wonder how many others have thought that.

 

The media here in LA is reporting this April 1st as well.

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So, my AmEx TE will be automatically converted to AmEx?? Don't wanna lose that D*1984

 

AND Costco will send out Citi Visa's to replace TE??

 

I don't even know what you just posted...

 

My American Express Costco branded True Earnings card will be converted to WHAT American Express card, plain vanilla, Blue Sky or what?

Will this now defunct card, American Express Costco True Earnings now be converted by Costco to a Citi Visa

 

 

It appears Citi is purchasing the Amex TE portfolio...meaning Citi will by buying your account and your Amex TE will cease to exist as you know it. Just like if a company purchases your mortgage from another company.

 

This is also why I believe the open date will not change, the account history will just move forward. Since it is changing issuers, processors etc, I would think the Amex account will show up on your reports as sold/transferred, and the "new" Citi account will show up with the same open since date etc but with new bank and account info.

 

OK, Thanks!

Do we know what AmEx will do with the account/CL, convert, combine to another account or ? Any AmEx history of how they've dealt with branded accounts ending?

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So, my AmEx TE will be automatically converted to AmEx?? Don't wanna lose that D*1984

 

AND Costco will send out Citi Visa's to replace TE??

I don't even know what you just posted...

My American Express Costco branded True Earnings card will be converted to WHAT American Express card, plain vanilla, Blue Sky or what?

Will this now defunct card, American Express Costco True Earnings now be converted by Costco to a Citi Visa

It appears Citi is purchasing the Amex TE portfolio...meaning Citi will by buying your account and your Amex TE will cease to exist as you know it. Just like if a company purchases your mortgage from another company.

 

This is also why I believe the open date will not change, the account history will just move forward. Since it is changing issuers, processors etc, I would think the Amex account will show up on your reports as sold/transferred, and the "new" Citi account will show up with the same open since date etc but with new bank and account info.

OK, Thanks!

Do we know what AmEx will do with the account/CL, convert, combine to another account or ? Any AmEx history of how they've dealt with branded accounts ending?

Citi is going to own your account.

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I think what stagefour is trying to get at is has there ever been history of the existing card issuer offering a replacement of a different product, in other words. . Any chance of getting another Centurion Bank issued Amex D* to replace the TE he has now (aside and seperate from the new Citi Costco card) without another EX pull.

Edited by fury1995
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So, my AmEx TE will be automatically converted to AmEx?? Don't wanna lose that D*1984

 

AND Costco will send out Citi Visa's to replace TE??

I don't even know what you just posted...

My American Express Costco branded True Earnings card will be converted to WHAT American Express card, plain vanilla, Blue Sky or what?

Will this now defunct card, American Express Costco True Earnings now be converted by Costco to a Citi Visa

It appears Citi is purchasing the Amex TE portfolio...meaning Citi will by buying your account and your Amex TE will cease to exist as you know it. Just like if a company purchases your mortgage from another company.

 

This is also why I believe the open date will not change, the account history will just move forward. Since it is changing issuers, processors etc, I would think the Amex account will show up on your reports as sold/transferred, and the "new" Citi account will show up with the same open since date etc but with new bank and account info.

OK, Thanks!

Do we know what AmEx will do with the account/CL, convert, combine to another account or ? Any AmEx history of how they've dealt with branded accounts ending?

Citi is going to own your account.

 

OK, so if you only had the Costco TE account, you'd no longer have any affiliation with AmEx once the transfer to Citi occurs. As such, AmEx has lost all those accounts and is making no offers to keep you in the AmEx family.

Just seems odd that AmEx wouldn't attempt to make retention offers

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So, my AmEx TE will be automatically converted to AmEx?? Don't wanna lose that D*1984

 

AND Costco will send out Citi Visa's to replace TE??

I don't even know what you just posted...

My American Express Costco branded True Earnings card will be converted to WHAT American Express card, plain vanilla, Blue Sky or what?

Will this now defunct card, American Express Costco True Earnings now be converted by Costco to a Citi Visa

It appears Citi is purchasing the Amex TE portfolio...meaning Citi will by buying your account and your Amex TE will cease to exist as you know it. Just like if a company purchases your mortgage from another company.

 

This is also why I believe the open date will not change, the account history will just move forward. Since it is changing issuers, processors etc, I would think the Amex account will show up on your reports as sold/transferred, and the "new" Citi account will show up with the same open since date etc but with new bank and account info.

OK, Thanks!

Do we know what AmEx will do with the account/CL, convert, combine to another account or ? Any AmEx history of how they've dealt with branded accounts ending?

Citi is going to own your account.

OK, so if you only had the Costco TE account, you'd no longer have any affiliation with AmEx once the transfer to Citi occurs. As such, AmEx has lost all those accounts and is making no offers to keep you in the AmEx family.

Just seems odd that AmEx wouldn't attempt to make retention offers

Correct. You would have to apply for a new card with Amex.

 

There are no retention offers because they aren't retaining Costco accounts.

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I think what stagefour is trying to get at is has there ever been history of the existing card issuer offering a replacement of a different product, in other words. . Any chance of getting another Centurion Bank issued Amex D* to replace the TE he has now (aside and seperate from the new Citi Costco card) without another EX pull.

Not without applying for another card. There's no retention possibilities in a case like this because they are not keeping the accounts.

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I think what stagefour is trying to get at is has there ever been history of the existing card issuer offering a replacement of a different product, in other words. . Any chance of getting another Centurion Bank issued Amex D* to replace the TE he has now (aside and seperate from the new Citi Costco card) without another EX pull.

Not without applying for another card. There's no retention possibilities in a case like this because they are not keeping the accounts.

 

 

This could be a grey area.

 

I could see Amex sending out targeted offers for cards, special AF waivers for them etc.

 

I guess it would depend on what kind of deal they cut with Citi, and what kind of language is in those contracts with regards to Amex offering products to that portfolio base.

 

Perhaps they put out a PC offer also. Serious math there. What are you worth being sold to Citi vs what are you worth to keep to Amex.

Edited by Konrad2012
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I think what stagefour is trying to get at is has there ever been history of the existing card issuer offering a replacement of a different product, in other words. . Any chance of getting another Centurion Bank issued Amex D* to replace the TE he has now (aside and seperate from the new Citi Costco card) without another EX pull.

Not without applying for another card. There's no retention possibilities in a case like this because they are not keeping the accounts.

 

I guess "retention" was a poor choice of words.

Now, I'm confused exactly WHEN Costco will stop accepting any AmEx cards as payment, regardless of the AmEx/Costco contract.

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I think what stagefour is trying to get at is has there ever been history of the existing card issuer offering a replacement of a different product, in other words. . Any chance of getting another Centurion Bank issued Amex D* to replace the TE he has now (aside and seperate from the new Citi Costco card) without another EX pull.

Not without applying for another card. There's no retention possibilities in a case like this because they are not keeping the accounts.

This could be a grey area.

 

I could see Amex sending out targeted offers for cards, special AF waivers for them etc.

 

I guess it would depend on what kind of deal they cut with Citi, and what kind of language is in those contracts with regards to Amex offering products to that portfolio base.

 

Perhaps they put out a PC offer also. Serious math there. What are you worth being sold to Citi vs what are you worth to keep to Amex.

Plus having existing open Amex CB accounts other than Costco/TE may play?

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