Loyalty & Rewards

Amex’s Parting Gift to Canadian Costco Customers

After Costco Canada’s decision to jump ship from American Express to the Capital One Platinum MasterCard, and all other MasterCard products which will now all also be available as a payment option at Costco Canada, the only thing left for Amex to do is pay its debts to those torn between the worlds of Costco and Amex membership.

Costco customers in the north country will no longer able to use their Amex cards at Costco come 2015 and will be switched to Amex’s Simply Cash card, according to an announcement from the Amex bank of Canada last week.  The announcement was accompanied by a message from CEO Howard Grosfield about the change, reports the Financial Post.  

These transfers will solve the issue of rebates earned on the old Amex cards that had not been cashed out as of the time of the switchover to MasterCard.  According to Amex, any rewards users qualified for before September 25 would be included in the Simply Cash card rebate to be mailed out in early October 2014.