Why doesn't Costco take credit cards?

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Why doesn't a super-power like Costco take credit cards (other than American Express)? That's so annoying having to carry large sums of cash just to shop at Costco. Can someone explain that to me? Don't they realize that they could rule the world if they did?

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Is there any way to buy something via costco.com (where you can use VISA), but instead of paying for delivery you just g... (more)

peter17319 (May. 23, 2007 @ 11:38p) |

No.

billrubin (May. 24, 2007 @ 1:57a) |

Yea they do this to save costs. Many stores will make deals with credit card companies that they will sign up lots of ne... (more)

InFlamed (May. 30, 2007 @ 11:58a) |

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ablang said: Why doesn't a super-power like Costco take credit cards (other than American Express)? That's so annoying having to carry large sums of cash just to shop at Costco. Can someone explain that to me? Don't they realize that they could rule the world if they did?

Simple: To keep costs low. They have an exclusive agreement with AMEX so their merchant fees are lower.

sdkjr said: ablang said: Why doesn't a super-power like Costco take credit cards (other than American Express)? That's so annoying having to carry large sums of cash just to shop at Costco. Can someone explain that to me? Don't they realize that they could rule the world if they did?

Simple: To keep costs low. They have an exclusive agreement with AMEX so their merchant fees are lower.



You could also apply for an AMEX instead of carrying huge wads of cash...

They also take check and debit card, so you don't literally have to take large sums of cash with you if you don't have an AMEX card.

ablang said: Why doesn't a super-power like Costco take credit cards (other than American Express)? That's so annoying having to carry large sums of cash just to shop at Costco. Can someone explain that to me? Don't they realize that they could rule the world if they did?

You don't have any debit cards? My Citibank debit card even has some rewards (1 point per $2 or something like that), so its not that bad...

I have an AMEX card just for Costco...it doubles as the Costco membership card, no additional annual fee (over and above the Costco membership), and you get 3% cash-back at restaurants, 2% for travel, and 1% everywhere else.

I honestly can't think of a single reason not to use this card.

https://www124.americanexpress.com/cards/cda/dynamic.jsp?name=CostcoTrueEarnings&type=intProduct

They have enough clout that people will get an AMEX card just to use there. AMEX likes more cardholders, so they cut Costco a deal on fees to be exclusive.

ablang said: Why doesn't a super-power like Costco take credit cards (other than American Express)? That's so annoying having to carry large sums of cash just to shop at Costco. Can someone explain that to me? Don't they realize that they could rule the world if they did?Ummm, just an FYI, are you aware that you can use Visa / MC on Costco.com?

Costco works out a deal with AMEX to get a good discount (like others have mentioned). Before AMEX was the exclusive credit card (around 1999 and earlier), they only accepted Discover.

ablang said: That's so annoying having to carry large sums of cash just to shop at Costco.
you can give those large sums of cash to me and i'll carry it for ya!

Also if you don't want to deal directly with AMEX and their evil F/R's a nice Citibank one does the trick too...I got a Citi Dividend AMEX(or BofA too but I don't like them as much). Although I have still been tempted to get their TrueEarnings one just for the benefits so the ploy must be working.

ablang said: Why doesn't a super-power like Costco take credit cards (other than American Express)? That's so annoying having to carry large sums of cash just to shop at Costco. Can someone explain that to me? Don't they realize that they could rule the world if they did?

I don't know --- but what they are doing seems to be working

germanpope said: ablang said: Why doesn't a super-power like Costco take credit cards (other than American Express)? That's so annoying having to carry large sums of cash just to shop at Costco. Can someone explain that to me? Don't they realize that they could rule the world if they did?

I don't know --- but what they are doing seems to be working



Exactly, they always seem to have a line. There are lot of companies out there who can only dream about having people so irritated as to have that few customers. Seems to be working to me.

ablang said: Why doesn't a super-power like Costco take credit cards (other than American Express)? That's so annoying having to carry large sums of cash just to shop at Costco. Can someone explain that to me? Don't they realize that they could rule the world if they did?

WOW. I'm speechless. Someone has been living under a rock the last decade. You must have no idea what a debit card is. Heck, have you ever heard of writing a check?

Bmr4life said: ablang said: Why doesn't a super-power like Costco take credit cards (other than American Express)? That's so annoying having to carry large sums of cash just to shop at Costco. Can someone explain that to me? Don't they realize that they could rule the world if they did?

WOW. I'm speechless. Someone has been living under a rock the last decade. You must have no idea what a debit card is. Heck, have you ever heard of writing a check?
Talk about living under a rock...who (other than non-financially-savvy individuals) uses debit cards or checks anymore, when credit cards give you a 30-day interest-free loan and more cash-back opportunities?

They take cards other than AMEX.

They take Visa AMEX cards. What? A Visa AMEX card? Yes, there is such a thing. Visa.com

handyguy said: They take cards other than AMEX.

They take Visa AMEX cards. What? A Visa AMEX card? Yes, there is such a thing. Visa.com
I didn't see a Visa AMEX card there...do you have a link?

jayK said: I have an AMEX card just for Costco...it doubles as the Costco membership card, no additional annual fee (over and above the Costco membership), and you get 3% cash-back at restaurants, 2% for travel, and 1% everywhere else.

I honestly can't think of a single reason not to use this card.

https://www124.americanexpress.com/cards/cda/dynamic.jsp?name=CostcoTrueEarnings&type=intProduct


agreed

no more to carry than the costco membership card without the AMEX on it

gives you 1 percent back at costco and other Cash Back benefits, also has a very good 'extended warranty' policy which may have more use as costco rolls out limited return period on 'electronics'

They just updated the electronics return policy last week. Restrictions on other returns may follow soon.

scottmagic said: Costco works out a deal with AMEX to get a good discount (like others have mentioned). Before AMEX was the exclusive credit card (around 1999 and earlier), they only accepted Discover.


Yup, and now Sam's Club only takes Discover, and Costco only takes AMEX.

chokaay said: scottmagic said: Costco works out a deal with AMEX to get a good discount (like others have mentioned). Before AMEX was the exclusive credit card (around 1999 and earlier), they only accepted Discover.


Yup, and now Sam's Club only takes Discover, and Costco only takes AMEX.


They now take Mastercard as well. No, not just a debit card Mastercard, but a credit card Mastercard. There are big signs all over the stores.

what's the costco membership cost now a days?

edit: i also hate how they only take AMEX...i'm one of those people who have and only want ONE credit card (citibank)

mYkaL48 said: what's the costco membership cost now a days?

edit: i also hate how they only take AMEX...i'm one of those people who have and only want ONE credit card (citibank)
Costco membership is $50/year.

There's really no reason to only use a single credit card...the Costco TrueEarnings AMEX card will get you additional Cash Back over and above your Citi card for travel and restaurant purchases.

mYkaL48 said: what's the costco membership cost now a days?

edit: i also hate how they only take AMEX...i'm one of those people who have and only want ONE credit card (citibank)


You can get your membership fee completely refunded at any time if you are "dissatisfied." I've done that a few times and gotten a few free years out of it.

What was your arguement, if they even care? Is the process easy?

ragnacor1234 said: mYkaL48 said: what's the costco membership cost now a days?

edit: i also hate how they only take AMEX...i'm one of those people who have and only want ONE credit card (citibank)


You can get your membership fee completely refunded at any time if you are "dissatisfied." I've done that a few times and gotten a few free years out of it.

jayK said: Bmr4life said: ablang said: Why doesn't a super-power like Costco take credit cards (other than American Express)? That's so annoying having to carry large sums of cash just to shop at Costco. Can someone explain that to me? Don't they realize that they could rule the world if they did?

WOW. I'm speechless. Someone has been living under a rock the last decade. You must have no idea what a debit card is. Heck, have you ever heard of writing a check?
Talk about living under a rock...who (other than non-financially-savvy individuals) uses debit cards or checks anymore, when credit cards give you a 30-day interest-free loan and more cash-back opportunities?


Ok genius, I'm comparing cash to cash, not cash to credit. jeesh.

jayK said: Costco membership is $50/year.

There's really no reason to only use a single credit card...the Costco TrueEarnings AMEX card will get you additional Cash Back over and above your Citi card for travel and restaurant purchases.


Has anyone compared Costco TrueEarnings AMEX to AMEX Blue Cash?

costco.com takes visa. Which I've found to be kinda nice, and if you return to the store you get Cash Back instead of a refund to your visa. Nice way to stock up on rewards points I guess, if you have the patience.

ragnacor1234 said: mYkaL48 said: what's the costco membership cost now a days?

edit: i also hate how they only take AMEX...i'm one of those people who have and only want ONE credit card (citibank)


You can get your membership fee completely refunded at any time if you are "dissatisfied." I've done that a few times and gotten a few free years out of it.


They really should make that a one time occurance. I'm all for good deals, evem gaming the system a little. Thats just plain shady and the reason why costco changed its return policy on TV's. It's things like that that increase costs and hurts everyone else. Somehow, I'd bet you couldn't care less.

": i also hate how they only take AMEX..."

So get an Visa Amx card, there is such a thing.

handyguy said: ": i also hate how they only take AMEX..."

So get an Visa Amx card, there is such a thing.



How about you provide a link to this Visa AMEX? We are already aware of a Citibank AMEX and a BOA AMEX...

i think saying there is a visa AMEX is akin to saying u have a boa citbank card.

Is there any way to buy something via costco.com (where you can use VISA), but instead of paying for delivery you just go to your local store and pick it up? I know other stores like Best Buy do this.

peter17319 said: Is there any way to buy something via costco.com (where you can use VISA), but instead of paying for delivery you just go to your local store and pick it up? I know other stores like Best Buy do this.No.

Yea they do this to save costs. Many stores will make deals with credit card companies that they will sign up lots of new CC users in return for a bonus for each sign up and waived transaction fees.



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