On Monday morning, Costco (COST ) announced that it has named Visa (V ) and Citigroup (C ) as its new credit card partners.
On February 12, Costco terminated its 16-year exclusivity deal with American Express (AXP ). In this deal, the retailer only offered American Express credit cards in its stores.
On Monday morning, the retailer announced that it has replaced American Express with a deal with Visa. As part of this deal, Citigroup will be the exclusive issuer of Costco’s co-branded credit cards.
The announcement sent shares of Visa up over 2.5% on Monday morning.
The Bottom Line
Costco (COST ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Visa (V ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Citigroup (C ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
