Targeted Offers for Amex Costco Cardholders
As part of the deal, it was reported that Citi would be purchasing the approximately $14 billion portfolio of Costco credit cards from Amex. This basically means that Amex will be losing a lot of clients.
A Very Nice Targeted Offer
The other day I received a call from my father who is a very proud Costco customer and holder of the Costco Amex credit card. He had just received an offer in the mail for a new American Express card.
It just so happens that the Costco card is my dad’s only Amex card and he is most likely a customer they want to keep. The offer was for the Blue Cash Everyday card. This card normally doesn’t come with a sign-up bonus, but they were offering $200 after spending $3k within the first three months.
An offer on the Blue Everyday card makes sense since it pays 3% at grocery stores and 2% at gas stations. In other words it has decent bonus categories that match up well with Costco type spending.
Is It A Good Deal?
Since Amex limits the bonus on each personal card to once per lifetime, I absolutely recommend considering offers like this. In this case, Amex has never had as high a public bonus on this card.
While some hobbyists may have better cards on their radar from Amex, I certainly told my dad this is a great deal, since it is the best offer I have ever seen for this card and it doesn’t keep him from getting those other cards later.
I do expect more of these offers to surface as the changeover date inches closer. Everyone should obviously consider their individual goals and needs, but these offers should definitely be considered.
If you are a current holder of the American Express True Earnings Costco credit card, keep an eye posted for lucrative offers from American Express. With all of the negative attention they have received in the press, their back is against the wall, which means customers like my dad may be able to cash in.