Thoughts on Costco
Why does Costco only accept American Express? I was under the impression that AmEx is actually more expensive for vendors to accept, so why the exclusivity? Someone must know this, or be more willing to look it up than I am.
The running joke is that a gallon of milk at Costco costs you $85, since you end up buying twenty pounds of beef, eight gallons of soda, a 96 pack of power bars, etc. Yet a few weeks ago I managed to get in and out spending only $1.30. Can you beat that?
The running joke is that a gallon of milk at Costco costs you $85, since you end up buying twenty pounds of beef, eight gallons of soda, a 96 pack of power bars, etc. Yet a few weeks ago I managed to get in and out spending only $1.30. Can you beat that?
posted by Paul at
2:27 PM
2 Comments:
I think that Amex and Costco have some sort of deal, so Costco probably gets more of the profits.
Greetings from New York!
By
Anonymous, at 7:25 AM
business, particularly small businesses, represent a huge portion of costco's profits. Amex is tight with that market. By going exclusively with Amex, they probably also could negotiate down their commissions paid to Amex.
Sam's club on the east coast (Costco style warehouse store) only excepts Discover Card for this reason.
By
Anonymous, at 12:48 AM
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