We are considering applying for the Costco Visa card. They offer a very nice cash back rewards (better than the Capital One card that we currently use for everything) so that is quite enticing.
One thing we really like about the Capitol One card Visa is that they have an excellent fraud prevention program in place. Our card has been compromised a few times and Capitol One has always caught it and handled it well (except for the 7-10 day wait before getting a replacement card). Anyone know what fraud prevention Costco has for their card?
Any pros and cons that I should know about?
Thanks in advance.
Also considering the Costco Visa. I was set to apply online until I tried to add my husband as an authorized user. It won’t allow an authorized user unless they have their own Costco card. This means dragging my husband to Costco to get him added to the membership even though he never shops there.
I am ready to dump my Amazon Visa with Chase bank. They have sent unsolicited new cards twice this year with the explanation being that the cards have been ‘redesigned’. Every time they send a new card with new expiration date I have to change 15 autopay accounts and info linked to apps, major pain. Chase web site is also a hassle to use.
I’ve been fine with the Costco Visa card. When I questioned a charge, they got in touch with merchant and sent me all the info. Still, I’m sorry that I no like Niger have an Amex card. Fidelity also switched friends m Amex.m
We have used the Visa since the conversion, and so far it worked fine for us. You can set alerts through the website. I usually get an email asking if that was a legitimate purchase if their algorithm determines that something did not fall into the typical spending pattern. Have not had a chance to replace lost cards or dispute a charge yet, so no reviews. This year, we charged all of our renovations to the card, and we will get more than $2,000 back not including the extra 10% in Costco cash cards on carpets and countertops.
I mainly use 2 cards. The Costco Visa and my Chase Sapphire Preferred Visa. The Chase doesn’t charge foreign transaction fees. We have been happy with the fraud prevention on both cards. Earlier this year my H got a call from Citi who is the administrator of the Costco card. They had somehow detected that my H’s card had been compromised. Someone was trying to use it at Bevmo. We were on a road trip and think the number got scammed at a gas station pump. Chase has also caught fraud charges right away before we even saw them on the bill.
No complaints with our Costco Visa. Guessing that getting that lucrative Costco account, VISA will work hard to keep Costco’s customers happy. Yes, fraud can happen with any card, but I have to believe VISA will be diligent and if any cards get compromised, they will be on top of it, pronto…
I love the Costco Visa card. In my experience the fraud protection is as good as that of my Capital One MasterCard. No actual fraud, but when the spending doesn’t fit the usual pattern I do get prompt fraud alerts. I had to dispute one charge, not fraud but a mistake by the vendor, and that was fine. H and I use the Costco Visa for everything, though we still keep the Capital One MasterCard for foreign travel since that one has no transaction fees. I get no marketing from the Costco Visa, and as far as I can tell they haven’t sold my info to others because I don’t really get any credit card marketing at all. Capital One, however, will not stop trying to sell me on its banking services.
Looks like it may still be worth keeping a Capital One card, if it has rewards >1% for “all other” purchases, and/or you use it for international travel or purchases.
I had attempted fraud on my Costco card and they were very quick to notify me and send a replacement card. I always use that card for gas (4% back) and had recently driven from FL to NJ. I received a call at home on a Saturday night from Citi asking if I had been denied at a gas station. Turns out someone was attempting to use a clone of my card at gas stations in South Carolina that day. I had stopped for gas in SC the week before so we suspect my card was skimmed at that station. Citi’s system had denied the fraudulent card at the pump and they rushed a new card to me.
I like the various text alerts I can get to stay on top of any charges.
The Amazon Visa (Chase) also has no foreign transaction fee, at least with the Amazon Prime card. One thing I’ve learned the hard way is to always call and report upcoming travel before a trip. The AMEX reps will insist that it isn’t necessary but we’ve twice had the card denied while traveling. They will note your travel on the account if you specially request they do so. My Chase card was denied at BevMo once because I had stopped at Kmart the same day- very suspicious!
btw- no need for both H and W to have all of the same credit cards. I got the Target red card when H encouraged me to when so many cards were being reissued for fraud concerns a couple of years ago- I shop there often. I only use it at Target (to get the immediate 5% off). So, if you do get the card it is not necessary for your spouse to. In fact, in the event of a card problem it can be good to have one not linked to both of you.
@wis75 brings up a good point. When H and I travel I have to remind him that we need to not bring the same card as if one of us has a compromised card we don’t have a back up. And each of us should have one card the other isn’t carrying in case of a lost or stolen wallet.
We have one credit card only and parted ways with Costco when they parted with Amex. If a merchant doesn’t take Amex, they don’t get our business. I don’t miss shopping in that depressing cement cavern.
Amex- is that American Express? Never had that, never wanted or want it. In fact, I am leery of it. Never want any credit card that charges any fees. Visa and Mastercard have a lot more acceptance.
Anyone disgusted with that Citi credit card TV ad that is so “up front and honest”- they give you 1% now and 1% when you pay your bill? Wow, that’s so much better than the other guys’ 2%.
Another good habit we have is paying off the credit card bills each month- auto pay as well. Companies we have dealt with have been very good about wrong charges as well. We make money using our credit cards and have the convenience as well.
We are in the age/economic demographic where we get tons of credit card offers in the mail. Do not want one for the many different stores I shop at either, or the bank’s. Two is nice in case of problems with one. Have had Penneys and Sears in the past when there was a discount for using it- made a difference on large purchases such as appliances and window treatments. And another store for that extra discount on the mattress/box spring. They went dormant and I finally closed them.
Many Amex cards have no fees. They have the best warranty extension protection in the business, and will give you an extra year even beyond extended warranties like Applecare. You don’t need to register the product either. Super handy when your laptop or cell phone battery fails in year 3 or 4