Credit Card Networks and Consumers

Costco has recently begun ending their relationship with American Express, as they have started to accept Visa credit cards. The former Amex cardholders will get their new cards from CITI. The new Visa card from Costco has been received with praise from many outlets, but the consumer conversation has been mostly centered around the card and its cash back policy. Most people are not concerned about Credit card networks, with only 11% of the people surveyed saying they would want cards from other networks.

What About Others?

The others don’t seem to care about anything other than the interest rate and the program associated with the card. Most people are interested in things like toasters, or other promotions that are going on when they are looking to get new credit cards. That being said, card networks are very important when choosing which credit cards to take out.

There are a few AMEX benefits that Visa card holders lose, but CITI makes up for this, like the round the clock number that AMEX users can call to get roadside assistance. There is a similar program with CITI.

Also, all new cardholders lose AMEX offers. This is a list of deals for AMEX holders that allows them to save money wherever they go.

However, Visa is accepted by a larger number of buisnesses worldwide, and AMEX is more of an American card only. People who enjoy spending time abroad will like having a Visa card. It is internationally known as also being safer than other credit cards, due to the amount of places it is accepted. That does not mean one should not be careful when using it however, as credit card debt is a deep hole to dig out of.