Beginning July 22, JPMorgan Chase will no longer charge overdraft fees incurred by purchases that cost $5 or less, according to the bank's checking disclosure notice. The new policy will prevent customers from wracking up outsized fees for small purchases -- like a $34 overdraft fee for a $3 slice of pizza.
American Express cards will continue to be accepted at Costco stores until June, or perhaps mid-summer, when the contract will be switched to Citi. Costcoâs switch from American Express to Visa is being pushed back to this summer. Itâs now saying that transition will happen in June or by midsummer.
Credit to CostcoMeanwhile, hooking up with its new partners gives Costco a direct pipeline to a much wider pool of credit card holders. As of the end of 2014, there were 304 million or so Visa credit cards in circulation in the U.S., far higher than the 55 million AmExes.he Motley Fool recommends American Express, Costco Wholesale, and Visa, and owns shares of Costco Wholesale and Visa. Try any of our Foolish newsletter services free for 30 days.