Costco's bumpy transition to Visa Card angers loyal customers
Costco's big switch from the American Express Costco card to the Costco Visa Anywhere card has been anything but smooth. Although the cover pic on Costco's Facebook page currently reads Costco + Visa = (Love), one frustrated Costco customer commented on Facebook that Costco + Visa = Disaster.
The warehouse club officially ended its 17 year partnership and cobranded credit card with Amex on June 20, replacing it with Citibank Visa. Customers who had a balance on their Amex Costco card now have to deal with Citi.
Although the new cards were all supposed to be sent out in May, Money says many consumers are still waiting on their Visa cards. I just received my new Citi card in the mail last week. I set it up online this week with no issues, but clearly, not everyone has been so lucky.
Among the most common complaints is that many customers have yet to receive their Costco Citi card, which obviously presents a problem for them when shopping at the warehouse store or anywhere else they typically use their card. Many customers also claim Citibank has left them on hold for more than an hour when they've called for customer service assistance.
"I am about to cancel my account with Costco," a woman, who claimed she had waited on hold with Citi for more than hour and still hadn't talked to an actual person, complained on Costco's Facebook page. "This is ridiculous!"
This was Costco's response to many complaints on its Facebook page:
Due to high levels of interest in the Costco Anywhere Card and high volumes of calls from cardholders, callers to Citi should expect longer than desired hold times. Citi is reviewing processes and pulling in additional resources to alleviate hold times. Thank you for your patience!
Another person, who described herself as a formerly loyal Costco shopper on Facebook, said Costco's decision to stop accepting Amex as a payment option is a "slap in the face." She continued: "From now on, I will occasionally shop in Costco, but have already started to find many items elsewhere, and am lowering our membership from Executive to a standard membership."
The Citi card was touted by Costco because it offered a better cash-back program than the Costco Amex card, according to CNN Money.
If you still haven't received your Costco Citi Visa card, Costco says you should call Citi at 866-241-8684 for assistance. To voice a complaint with Costco, you're encouraged to email email@example.com and include your 12-digit membership number, contact information and any other pertinent details.
What's your take on Costco's switch from Amex to Citi Visa? Share your comments below or on our Facebook page.
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