Costco to Stop Accepting American Express, Switches to Mastercard
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Beginning January 1, 2015, Costco stores in Canada will no longer accept American Express cards.

For the last 15 years, Costco and American Express had an exclusive agreement. The only credit card accepted at Costco stores in Canada was American Express. However, a breakdown in contract negotiations caused Costco and American Express to part ways.

On January, shoppers will now be able to apply for a new co-branded Capital One Platinum MasterCard and member card. This will replace the existing American Express member card.

Also, for the first time in 15 years, Costco will accept other MasterCard credit cards at its Canadian stories. US stores will continue to be exclusively American Express.

VISA card holders are still out of luck. Debit cards will continue to be accepted.