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Costco on Lopez Mateos in Zapopan has lately had a booth set up to sign people up to their CC. Does anyone have comments about the Costco CC?

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It is a Visa issued by CitiBanamex that is an affiliation card for Costco. 3% cash back on Costco purchases with the card. Cost is $450 per year + IVA  . If you want to register for months without interest offers one time fee of $799   Interest rate on balances 67.2%b+ IVA

https://www.banamex.com/es/personas/tarjetas-credito/tarjeta-costco.html

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We've had costco/citibanamex cards for a few years now. With what we spend at Costco they pay for themselves in no time and the convenience of not carrying around wads of cash makes it a no brainer for us. And, yes, the cost of the card is in addition to the Costco membership fee.

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I have a couple of photos of Costco price labels on my phone so I did a bit of math. To pay with a credit card as opposed to cash costs 2.3% more, so you're really getting 0.7% back on your purchases. In order to pay for the $450 annual fee, you'd have to spend 64,285 pesos per year or 5,357 per month - just to pay for the annual fee. 

Edit: Mea culpa, I just looked at the price labels again and you pay the same as cash price if you use the Costco card, so you'd have to spend 15,000 pesos to cover the annual fee. Lo siento mucho! 

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14 hours ago, Frijoles said:

 

I have a couple of photos of Costco price labels on my phone so I did a bit of math. To pay with a credit card as opposed to cash costs 2.3% more, so you're really getting 0.7% back on your purchases. In order to pay for the $450 annual fee, you'd have to spend 64,285 pesos per year or 5,357 per month - just to pay for the annual fee. 

So even if you have their credit card you are still stuck paying more for using it there?  

When you consider the additional cost of having it that doesn't strike me as much of a good deal.

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6 minutes ago, Mainecoons said:

So even if you have their credit card you are still stuck paying more for using it there?  

When you consider the additional cost of having it that doesn't strike me as much of a good deal.

Mea culpa, I just looked at the price labels again and you pay the same as cash price if you use the Costco card, so you'd have to spend 15,000 pesos to cover the annual fee. Lo siento mucho! 

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Some interesting comments. Does anyone use Costco Wholesale on line for deliveries rather than going to a 

Costco.

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6 hours ago, cedros said:

Some interesting comments. Does anyone use Costco Wholesale on line for deliveries rather than going to a 

Costco.

Yes, for about 2 years or at least since Covid. The process works well although the online portal does not carry anywhere near what is in the store. Nothing requiring refrigeration is available and many items come and go just like in person shopping.

Shipping was always free however within the last couple of months Costco changed policy and is now charging $50 pesos per item from the "grocery" side of their site unless the total purchase is over $1,500 pesos. Non grocery items such as liquor doesn't count toward the shipping charge. If you buy 10 small value items from grocery as they call it and the total is under $1,500 then you'd get whacked for a $500 peso delivery charge.

It's a game and can be played of course. We are lucky to have Hola Market for a lot of Costco goods for those of us who don't want to drive to Guadalajara.

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36 minutes ago, John Shrall said:

If you buy 10 small value items from grocery as they call it and the total is under $1,500 then you'd get whacked for a $500 peso delivery charge.

I wouldn't call it getting whacked. If you only order 800 pesos worth of groceries and it costs 200 pesos worth of gas to deliver it plus the delivery person's time and pay, it isn't unreasonable that there would be a delivery charge.

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On 4/8/2022 at 8:11 PM, mudgirl said:

Well, I might spend 20,000 pesos in a year at Costco. At 3% cashback, that comes to 600 pesos. I'm not spending the time it takes to fill out the paperwork to get a Costco credit card to save 150 pesos/year 😜

I spend about 30,000 a year and get 2 percent off because I have a black Costco card  and pay cash. I will have to ask what percent I would get off if I used their CC.

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On 4/8/2022 at 8:37 AM, Mainecoons said:

So even if you have their credit card you are still stuck paying more for using it there?  

When you consider the additional cost of having it that doesn't strike me as much of a good deal.

Well, no, that's actually not correct. You pay the same price as if you were paying cash and get the benefit of the 2% for using the credit card. The poster above posted incorrect information and subsequently corrected it. We do the bulk of our shopping at Costco. With meds, groceries, wine, household items and all the other stuff we spend 75,000 to 100,000 a year at Costco so the card is of real benefit to us without even considering the fact that we no longer have to carry wads of cash around.

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