Citi is eliminating these benefits for Costco cardholders

If you have a Costco credit card or have been thinking about getting one, Citi is making some big changes that you’ll want to know about.

The Costco Anywhere Visa® Card by Citi will no longer offer Trip Cancellation & Interruption Protection and Citi Price Rewind starting on September 22, 2019, Clark.com has confirmed.

When we reached out to Citi about the Costco Visa changes, here’s the statement they provided us:

“Citi continuously evaluates our products to ensure that associated benefits best meet the needs of our customers. Due to sustained low usage, we will no longer offer select credit card benefits such as Citi Price Rewind and Trip Cancellation & Interruption Protection as of September 22, 2019 so that we can continue providing key benefits our customers use and value most at no additional cost.”

Although Trip Cancellation & Interruption Protection and Citi Price Rewind are being discontinued, Citi told us that Costco Visa cardholders will still be able to receive the following benefits:

• Worldwide Car Rental Insurance
• Worldwide Travel Accident Insurance
• Roadside Assistance Dispatch Service
• Travel & Emergency Assistance
• Damage & Theft Protection
• Extended Warranty
• FICO Credit Score
• Citi Identity Theft Solutions
• Citi Entertainment

If the trip protection benefit is important to you, credit card expert Jason Steele says the Chase Sapphire Preferred is a good card that still offers it.

These changes don’t just affect the Costco Visa. As Clark.com reported in late June, Citi is discontinuing various consumer and travel benefits for other cards including the Citi Double Cash Card, Citi Prestige Card, Citi Premier Card and more.

When you log in to your account, you should get a notification if one of the cards in your wallet is affected. Learn more here.

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American Express adds new 6% cash back category to popular credit card

American Express is adding two cash back categories and dropping one from its popular Blue Cash Preferred credit card.

American Express Blue Cash Preferred changes

Starting May 9, new and existing cardholders will receive 6% cash back on select U.S. streaming subscriptions like Netflix and Hulu, and 3% cash back on transit purchases like Uber and Lyft.

However, the card will no longer offer 3% cash back at select U.S. department stores after July 31, 2019.

Launched in 2011, Blue Cash Preferred is popular for its 6% cash back at U.S. supermarkets on up to $6,000 in purchases per year. That valuable perk will continue.

Here’s what the American Express Blue Cash Preferred Card will offer:

• 6% cash back at U.S. supermarkets (on up to $6,000 in purchases then 1%)
• 6% cash back on select U.S. streaming subscriptions [NEW]
• 3% cash back at U.S. gas stations
• 3% cash back on transit, including parking, tolls, trains and rideshares [NEW]
• 1% cash back on other purchases

“The Blue Cash Preferred has been one the top cash back credit cards for many years, but it’s become a bit outdated recently,” said credit card expert Jason Steele. “The most frugal shoppers that this card appeals to are also likely to be those who subscribe to streaming services rather than cable, and are using shared ride services and public transportation. At the same time, most cash conscious cardholders aren’t too likely to spend much at major department stores in malls, and they probably won’t miss the removal of this bonus category.”

Along with the bonus category changes, Blue Cash Preferred is getting a new design and will feature contactless payment.

This card has a $95 annual fee. American Express says new cardholders who apply and are approved after May 9 will receive a welcome bonus of $250 after spending $1,000 on purchases in the first three months.

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