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Costco Enters Into a Long Term Co-Brand Credit Card Agreement With Citi and an Acceptance and Co-Brand Agreement With Visa
Under the terms of the agreements, Citi, the world's largest issuer of consumer credit cards, would become the exclusive issuer of Costco's co-brand credit cards and Visa will replace
Costco will provide its members with additional information in the coming months regarding the anticipated transition from its existing co-brand credit card program.
Citi (NYSE: C) the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
Certain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that Costco expects or anticipates may occur in the future. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks and uncertainties include, but are not limited to Costco's ability to satisfy the requirements for consummation of the agreements and other risks identified in Costco's other public statements and reports filed with the