{"id":22583,"date":"2022-10-12T16:04:33","date_gmt":"2022-10-12T16:04:33","guid":{"rendered":"https:\/\/clinicinus.com\/?p=22583"},"modified":"2023-11-15T16:57:38","modified_gmt":"2023-11-15T16:57:38","slug":"why-does-costco-only-take-visa","status":"publish","type":"post","link":"https:\/\/clinicinus.com\/why-does-costco-only-take-visa\/","title":{"rendered":"Why Does Costco Only Take Visa in 2024? (**SOLVED**)"},"content":{"rendered":"<p>This article mainly decodes &#8220;<strong>Why Does Costco Only Take Visa<\/strong>.&#8221;<\/p>\n<p>Costco, the biggest private warehouse club in the US, and Visa have an exclusive partnership.<\/p>\n<p>Businesses in more than 200 nations accept Visa cards since it is a well-known processing network.<\/p>\n<p>A payment card with the Visa network and the Visa logo is referred to as a Visa card.<\/p>\n<p>Payment cards that use the Visa network are known as Visa cards.<\/p>\n<p>Visa cards come in various forms, including gift cards, prepaid cards, debit cards, and credit cards.<\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"color: #003366;\">Why Does Costco only Take Visa?<\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-22589 size-full\" src=\"https:\/\/clinicinus.com\/wp-content\/uploads\/2022\/10\/Why-Does-Costco-Only-Take-Visa-2.jpg\" alt=\"Why Does Costco Only Take Visa \" width=\"800\" height=\"520\" srcset=\"https:\/\/clinicinus.com\/wp-content\/uploads\/2022\/10\/Why-Does-Costco-Only-Take-Visa-2.jpg 800w, https:\/\/clinicinus.com\/wp-content\/uploads\/2022\/10\/Why-Does-Costco-Only-Take-Visa-2-300x195.jpg 300w, https:\/\/clinicinus.com\/wp-content\/uploads\/2022\/10\/Why-Does-Costco-Only-Take-Visa-2-768x499.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/p>\n<p><strong>Customers cannot use credit cards backed by the other three major networks\u2014American Express, Master card, or Discover\u2014at Costco warehouses because of the Costco retailer&#8217;s contract with Visa. <\/strong><\/p>\n<p><strong>The customer&#8217;s credit score and financial profile are used to determine the credit cards and borrowing limits.<\/strong><\/p>\n<p><span data-preserver-spaces=\"true\">The Visa payment processing network is used to carry out transactions with each Visa card. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">By working with Visa as their main network for payment processing, businesses can accept payments online and have their accounts electronically debited or credited.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span style=\"color: #993300;\">Why Does Costco Stop Accepting American Express?<\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">Costco only accepted American Express cards from 1999 until 2016. Why? <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">They were able to trade exclusivity for a good merchant fee from America Express. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Using a Visa card can save Costco money on transaction costs; thus, they encourage you to do so. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Consequently, that agreement was terminated in 2017, and Visa replaced America Express. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Visa was willing to negotiate the merchant cost of using the card down to a reported 0.4 percent. Normally, Visa wouldn&#8217;t likely budge on that fee.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">Reasons:<\/span><\/strong><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">Costco simply anywhere Costco members may get the Visa Card by Citi without paying an annual fee, and it has better benefits than its American Express predecessor.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">It also offers the advantage of being a Visa card, which is more widely used than American Express by merchants globally.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Many Visa issuers provide bonus rewards categories for warehouse retailers, so using your Visa card at Costco will earn you additional cash back or reward points.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Its additional points include 1% back on all other purchases, 4% on qualified petrol expenditures up to $7,000 annually, 3% on dining out and eligible travel, and 2% back at Costco.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><strong>Read<\/strong>&#8211; <a href=\"https:\/\/clinicinus.com\/what-is-the-best-costco-membership\/\" target=\"_blank\" rel=\"noopener\">What is the best Costco Membership<\/a>?<\/p>\n<p>&nbsp;<\/p>\n<h3><span style=\"color: #993300;\">How many different Visa card varieties are typically offered?<\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">Visa Cards come in five different varieties: Classic, Gold, Platinum, Signature, and Infinite.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span style=\"color: #993300;\">What is a Visa debit card?<\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">Debit cards from Visa operate better than cash. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">They are made with money directly from your bank account and issued by your bank or another financial organization. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Customers with Visa debit cards can access their regular banking accounts, such as checking and savings accounts. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Visa Debit Cards are widely accepted and provide rapid, safe, and practical access to your money in person, online, abroad, and over the phone.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span style=\"color: #993300;\">What is a Visa credit card?<\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">A Visa credit card is a credit card that uses the Visa network to authorize and handle transactions between customers, the government, and companies.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><strong>Read<\/strong>&#8211; <a href=\"https:\/\/clinicinus.com\/do-you-need-a-costco-membership-to-buy-pizza\/\" target=\"_blank\" rel=\"noopener\">Do I Need a Costco Membership To Buy a Pizza<\/a>?<\/p>\n<p>&nbsp;<\/p>\n<h3><span style=\"color: #993300;\">Which credit cards does Costco often accept?<\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">Costco only accepts Visa credit cards in-store. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Cash, cheques, ATM\/debit cards, Electronic Benefits Transfer (EBT), Costco Shop Cards, and mobile payment applications are all acceptable forms of payment if you don&#8217;t have a Visa card.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span style=\"color: #993300;\">How hard is it to get a Costco Visa card?<\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-22590 size-full\" src=\"https:\/\/clinicinus.com\/wp-content\/uploads\/2022\/10\/Why-Does-Costco-Only-Take-Visa-3.jpg\" alt=\"Why Does Costco Only Take Visa \" width=\"800\" height=\"520\" srcset=\"https:\/\/clinicinus.com\/wp-content\/uploads\/2022\/10\/Why-Does-Costco-Only-Take-Visa-3.jpg 800w, https:\/\/clinicinus.com\/wp-content\/uploads\/2022\/10\/Why-Does-Costco-Only-Take-Visa-3-300x195.jpg 300w, https:\/\/clinicinus.com\/wp-content\/uploads\/2022\/10\/Why-Does-Costco-Only-Take-Visa-3-768x499.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/p>\n<p><span data-preserver-spaces=\"true\">You must have a credit score that meets the Costco Credit Card&#8217;s requirements. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">You&#8217;ll have a better chance of acceptance if your credit score is already 750 or above and your debt-to-income ratio is favorable.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\"> If not, be sure to first raise your credit score. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Assets and income demonstrate your ability to pay new credit card charges. People generally view you as less unsafe with more money and valuables to your name.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">Note:<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0\u00a0you must be at least 18 years old and have a reliable source of income. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">An SSN and a Costco membership number are also requirements.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span style=\"color: #993300;\">How much is the Costco Visa Card&#8217;s annual fee?<\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">The card has a $0 annual cost, but you must be a Costco member. That entails a paid Costco membership with no annual charge.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><strong>Read<\/strong>&#8211; <a href=\"https:\/\/clinicinus.com\/does-costco-take-cash\/\" target=\"_blank\" rel=\"noopener\">Does Costco Take Cash<\/a>?<\/p>\n<p>&nbsp;<\/p>\n<h3><span style=\"color: #993300;\">How long does it take to have a Costco Visa approved?<\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">If you apply for your credit card at a Costco location, you can immediately get a temporary card at the service desk.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\"> The card will come in seven to 14 business days if your application is accepted.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\"> After submitting, you might get a response quickly. You must first have a Costco membership, which can easily be obtained in minutes.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span style=\"color: #993300;\">What advantages does the Costco Visa Card offer?<\/span><\/h3>\n<p><strong><span data-preserver-spaces=\"true\">1. Worldwide Vehicle Rental Insurance:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">thanks to this Visa card, you&#8217;ll be covered when renting a car anywhere in the globe.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">2. Cashback incentives:<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0Costco shopping might be more satisfying. It provides rewards on all purchases, including qualified ones for travel, gas, and restaurants.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">3. Travel and emergency assistance:<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0The benefits of your visa card will help you in case of any emergencies as well as for travel-related reasons.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">4. No Foreign Transaction:<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0There are no international transaction fees for purchases made everywhere Visa is accepted.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">5. Worldwide Travel Accident Insurance:<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0If you encounter difficulties when traveling abroad, don&#8217;t worry about your family; your visa card will always be at your side and provide you with travel accident insurance.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">6. Business Owner Option:<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0If a business owner makes any purchases, they will receive cashback.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">7. No Annual Fees:<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0Visa doesn&#8217;t charge any yearly fees.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">8. Other Faculty:<\/span><\/strong><span data-preserver-spaces=\"true\"> When a person travels to another country, a VISA or Visitors International Stay Admission is considered one of the most crucial documents.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span style=\"color: #993300;\">What happens to my Costco Visa card if I cancel my membership?<\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">If the membership is terminated or expires, you will receive a notice and have 90 days to re-enroll in Costco. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Your credit card will be canceled if you do not renew your membership.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">To put it another way, a Costco membership is necessary to apply for and maintain a Costco Anywhere Visa card.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><strong>Read<\/strong>&#8211; <a href=\"https:\/\/clinicinus.com\/does-costco-take-mastercard\/\" target=\"_blank\" rel=\"noopener\">Does Costco Take Mastercard<\/a>?<\/p>\n<p>&nbsp;<\/p>\n<h3><span style=\"color: #993300;\">Can I use my Visa card from Costco anywhere?<\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">Spend your Costco cash rewards anywhere that accepts Visa. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The Costco Credit Card is not a store-specific credit card that can only be used at Costco, and there is no annual charge with your paid Costco membership.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\"> Instead, it&#8217;s a co-branded card that gives you benefits anywhere you spend, including Costco. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Anywhere Visa is accepted, the Costco Credit Card is accepted.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Therefore, the answer is that you may use a Costco <a href=\"https:\/\/www.costco.com\/credit-card.html\" target=\"_blank\" rel=\"noopener\">credit card<\/a> anyplace Visa is accepted, which is about everywhere that accepts credit cards.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span style=\"color: #993300;\">What is the Costco Visa Card&#8217;s interest rate?<\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">You have a 23-day grace period with the Costco Credit Card to avoid paying interest on your purchases. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The grace period lasts from the conclusion of the billing cycle until the due date for the card payment. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Your statement and the online account summary will both include a list of all interest rates for the Costco Credit Card. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The Costco Credit Card also levies a penalty rate for late payments in addition to the standard interest rate of 28.24%.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Look at your card member agreement and monthly credit card statements to see the interest rate on your card. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">An annual percentage rate will be used to represent your interest rate.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><strong>Read<\/strong>&#8211; <a href=\"https:\/\/clinicinus.com\/lost-costco-card\/\" target=\"_blank\" rel=\"noopener\">What Happen if I Lose My Costco Card<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This article mainly decodes &#8220;Why Does Costco Only Take Visa.&#8221; Costco, the biggest private warehouse club in the US, and &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Why Does Costco Only Take Visa in 2024? (**SOLVED**)\" class=\"read-more button\" href=\"https:\/\/clinicinus.com\/why-does-costco-only-take-visa\/#more-22583\" aria-label=\"Read more about Why Does Costco Only Take Visa in 2024? (**SOLVED**)\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":22588,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13984],"tags":[14767,14769,14765,14768,14770,14766,14763,14764],"table_tags":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/clinicinus.com\/wp-content\/uploads\/2022\/10\/Why-Does-Costco-Only-Take-Visa.jpg","_links":{"self":[{"href":"https:\/\/clinicinus.com\/wp-json\/wp\/v2\/posts\/22583"}],"collection":[{"href":"https:\/\/clinicinus.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/clinicinus.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/clinicinus.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/clinicinus.com\/wp-json\/wp\/v2\/comments?post=22583"}],"version-history":[{"count":2,"href":"https:\/\/clinicinus.com\/wp-json\/wp\/v2\/posts\/22583\/revisions"}],"predecessor-version":[{"id":31800,"href":"https:\/\/clinicinus.com\/wp-json\/wp\/v2\/posts\/22583\/revisions\/31800"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/clinicinus.com\/wp-json\/wp\/v2\/media\/22588"}],"wp:attachment":[{"href":"https:\/\/clinicinus.com\/wp-json\/wp\/v2\/media?parent=22583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/clinicinus.com\/wp-json\/wp\/v2\/categories?post=22583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/clinicinus.com\/wp-json\/wp\/v2\/tags?post=22583"},{"taxonomy":"table_tags","embeddable":true,"href":"https:\/\/clinicinus.com\/wp-json\/wp\/v2\/table_tags?post=22583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}