Costco Just Introduced a Credit Card With Some Sweet Perks

After 16 years of an exclusive credit card deal with American Express, Costco is switching to a card managed by Visa. As of Monday, Costco will no longer accept Amex — instead, shoppers will have to use any Visa or Citibank card. This is actually good news for rewards customers. While you will have to stop using the Amex Costco credit card, the new Visa Costco card has far better deals.

The new Visa card will save shoppers way more money. It offers four percent cash back on gas purchases, three percent back on restaurant and travel expenses, two percent back on Coscto purchases, and one percent back on all other purchases.

Comparatively, the Amex card gave three percent cash back on gas charges, two percent on restaurant and travel, and one percent everywhere else. So the Visa card is a slightly better deal than the Amex. Customers with the Costco Amex card should have been sent the new Visa card in the mail already — and if you've got saved-up rewards on the former card, they will automatically transfer over to the new Visa card. According to Fortune, the Visa card has some of the best credit card deals on the market, and we're totally sold as well.