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@Old_Joe, If my guess is correct, that means Costco is keeping your credit card number on record. Just something to consider what with all the security stuff going on.
@Old_Joe, If my guess is correct, that means Costco is keeping your credit card number on record. Just something to consider what with all the security stuff going on.
No longer a Costco member (wish I still was a shareholder, oh well - as well run as the company is I thought the stock was fundamentally expensive, still do), but they definitely keep track of what you're buying. There was a recall last year where they did autocalls to everyone who bought the item. If there is an issue like that, they can call everyone who bought it which is nice.
@Mark- Totally incorrect. I am in charge of everything. My wife, however, is in charge of me.
OK, I just took a look at the last Costco credit statement. It comes on Costco letterhead, and is (as msf suggested) just a "store card" used only at Costco. It's administered by Capital One, and is evidently completely separate from any other Costco credit card arrangement. Thanks to everyone for clearing up the confusion.
Hi John- well, they probably hope to make a few bucks on an ongoing basis from folks who don't pay off their purchases immediately, but maybe space out payments over several months. The interest rates on that sort of thing are pretty good for Costco. I noticed on the statement that the limit, at least for us, is $5k.
@Maurice - are you personally that much of a bad luck charm? What investments should I be avoiding?
I suspect that Fidelity is picking up part of the tab on these cards - think of them as loss leaders to attract/maintain accounts. As far as I know, they've never discontinued a card. I still have a free Amex Gold card from them. As well as their 1.5% rebate MasterCard (they later switched to Visa).
So I have high hopes of their continuing the 2% rebate - Fidelity is more powerful than your jinx.
FWIW, I'm considering replacing that Fidelity 1.5% MC with Citibank's 1% + 1% MC.
Comments
OK, I just took a look at the last Costco credit statement. It comes on Costco letterhead, and is (as msf suggested) just a "store card" used only at Costco. It's administered by Capital One, and is evidently completely separate from any other Costco credit card arrangement. Thanks to everyone for clearing up the confusion.
OJ
wifey is the boss at home...happy wife happy life [family] lol
http://www.bloomberg.com/news/articles/2015-02-19/american-express-loses-antitrust-suit-over-merchant-card-rules
http://www.businessinsider.com/american-express-antitrust-suit-2015-2
I suspect that Fidelity is picking up part of the tab on these cards - think of them as loss leaders to attract/maintain accounts. As far as I know, they've never discontinued a card. I still have a free Amex Gold card from them. As well as their 1.5% rebate MasterCard (they later switched to Visa).
So I have high hopes of their continuing the 2% rebate - Fidelity is more powerful than your jinx.
FWIW, I'm considering replacing that Fidelity 1.5% MC with Citibank's 1% + 1% MC.