Costco Wholesale (COST) will switch to Visa (V) credit cards in four days, marking the end of its 17-year alliance with American Express (AXP) . This means American Express cards will no longer be accepted at Costco as of Monday. Both Costco and Visa are holdings in Jim Cramer’s Action Alerts PLUS Charitable Trust Portfolio.
The partnership between Costco and American Express evolved and expanded since 1999. The companies launched two co-branded cards — the American Express Costco Cash Rebate Credit Card and the American Express Costco Business Card.
