LOS ANGELES TIMES: Citigroup Inc. will be the exclusive provider of Costco credit cards and Visa will process all credit-card transactions made at the wholesale retailer.
LOS ANGELES TIMES: Citigroup Inc. will be the exclusive provider of Costco credit cards and Visa will process all credit-card transactions made at the wholesale retailer.
The deal is subject to the purchase of Costco’s existing co-branded credit card portfolio by Citi, Costco said in a statement.
The retailer expects the existing portfolio to be sold, spokesman Bob Nelson said. When that happens existing Costco members will have their new cards sent to them.
