Citi, Visa Win Costco's Business


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Costco Wholesale Corporation (NASDAQ: COST) announced on Monday that Citigroup Inc (NYSE: C) and Visa Inc (NYSE: V) would be its new credit partners. The news follows an announcement last week that Costco and American Express Company (NYSE: AXP) would end their partnership.

The news helped Citigroup to gain 0.8 percent in pre-market trading, while Visa added 2.4 percent. Rivals Capital One Financial Corp. (NYSE: COF) and Mastercard Inc (NYSE: MA) fell 0.5 percent and 1.1 percent, respectively.

American Express dropped 12.3 percent this year as the Costco news weighed on price. The company said that it is attempting to convert current Costco cardholders onto other American Express credit cards.


Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.


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