ISSAQUAH, WA--(Marketwired - Mar 2, 2015) - Costco Wholesale Corporation ("Costco") (
Under the terms of the agreements, Citi, the world's largest issuer of consumer credit cards, would become the exclusive issuer of Costco's co-brand credit cards and Visa will replace American Express as the credit card network for Costco in the United States and Puerto Rico beginning April 1, 2016. Once issued, Costco's co-brand Visa credit card would provide generous rewards to Costco members, serve as the Costco membership card, and would be accepted at Costco locations in the United States and Puerto Rico, as well as all merchants worldwide that accept Visa credit cards.
Costco will provide its members with additional information in the coming months regarding the anticipated transition from its existing co-brand credit card program.
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Visa Inc. (
Certain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that Costco expects or anticipates may occur in the future. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks and uncertainties include, but are not limited to Costco's ability to satisfy the requirements for consummation of the agreements and other risks identified in Costco's other public statements and reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and we do not undertake to update these statements, except as required by law.
Contact Information:
CONTACTS:
Costco Wholesale Corporation
Richard Galanti
425/313-8203
Bob Nelson
425/313-8255
David Sherwood
425/313-8239
Citi
Emily Collins
718/248-3901
Emily.collins@citi.com
Visa U.S.A. Inc.
Jennifer Doidge
jdoidge@visa.com
415/805-4116