Costco Said to Weigh Dropping AmEx as U.S. Card Partner
This article is for subscribers only.
Costco Wholesale Corp., the retailer that replaced American Express Co. as its credit-card issuer in Canada, is considering a similar move with its larger U.S. portfolio, according to two people familiar with the matter.
Costco is seeking bids for both an issuer and a payments network for its U.S. cards, the people said, requesting anonymity because the matter hasn’t been made public. New York-based AmEx could be among firms bidding for the contract, the people said.