Costco customers will use the Anywhere Visa Card for payments

Costco dumped American Express cards in favor of Visa cards, and from June 20, 2016, if you want to get credit card rewards for your bulk purchases, you'll be able to use any Visa card, along with debit cards, cash, checks, EBT and Costco Cash Cards.

Customers who previously had a Costco and American Express co-branded card, will receive a new Costco Anywhere Visa Card by Citi, with all the previous rewards.

The new card from Visa offers 4% back on up to $7,000 a year in gas purchases, 3% back on restaurant and travel purchases and 2% back on Costco purchases.