Dear Cashing in, as a Costco executive member I appreciate your taking the time to read my article, I hope you found it helpful. Costco is a great company with great values and the opportunities are endless for those that are dedicated to their business. Costco carries many types of merchandise including dollar store items. You can buy almost any type of product in the store and sometimes for far less than at home prices.
Costco is now offering American Express credit to its American Express members. American Express, is a giant with global market share. With the recent merger of these two companies, American Express will be in the same place Costco is now. So American Express has made the decision to give rewards to its card members with Costco's merchandise. As a Costco executive member you are going to enjoy 2 percent back on purchases of many types at Costco when using American Express credit.
This is a very important update for many American Express and Costco consumers. Costco's management team has decided to make this transition in order to help their customers continue to have access to the great prices they enjoy shopping at Costco, and to help eliminate duplication of many business expenses by allowing consumers to shop with their American Express credit cards. Most consumers will see significant savings when using their American Express credit cards to make their purchases at Costco and other American Express partner companies.
The update means that American Express would now offer the same rewards, benefits and cash rebates available to all American Express credit cardholders. This would also mean that American Express would no longer be a exclusive partner for Costco and will become a more inclusive partner in the years to come. The timing of the announcement is very important and has implications not only for Costco consumers but also for American Express as a whole. This is a very good thing for American Express, because as I mentioned in my previous article, I believe the timing of this partnership with Costco could mean higher profits for American Express in the years to come.
The timing of the partnership was intended to begin after Costco was purchased by the larger supermarket chain, Wal-Mart. But, Wal-Mart dropped the deal, citing financial complications in the wake of the economy. Costco management however, believed it would take too long for the company to become profitable with only one partner. The timing of the Costco agreement therefore eluded Costco management, until the latter decided to pull the trigger and announce the acquisition of American Express. The timing of the transaction was not a coincidence and can be attributed to the fact that Costco needed some time to find a suitable partner.
Costco earns their revenue from the membership fees it charges its members. They earn additional revenue from the cash back and rewards programs it has in place for members. The combination of these two factors is a sure recipe for success. With the American Express partnership, American Express is able to extend its remit to a larger customer base and receive greater access to a wider range of products.
The American Express cash back and rewards program rewards card was recently launched at the end of June. The acquisition of American Express would see Costco expand their reach even further. American Express jnglared card and the Costco prepaid card are both available online. You may use the same card to make purchases at Costco or any other US restaurant.
At present, the Costco Blue Cash card and the American Express platinum card are the two most widely used cards in the United States. The cash back rewards program is an important tool for a Costco customer. This is a very good move on the part of Costco as the company aims to expand their customer base into new areas. The Blue Cash card is also a great way for American Express to increase their client base across the United States and beyond.
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