business news in context, analysis with attitude

The Puget Sound Business Journal reports that Costco is saying that since it switched from American Express to Citi Visa cards as the sole credit card accepted and offering holder benefits at its membership warehouses, one million people have opened new accounts, with between 20,000 and 40,000 of those representing new Costco members.

As the story notes, the switch of close to 12 million Costco members and Amex holders to Visa accounts was not a smooth one, with members complaining about the customer service levels offered by Visa.
KC's View:
Interesting story, if only because Costco and Citibank were getting a lot of blowback in the days and weeks immediately following the shift.

If nothing else, this demonstrates that if you keep your head down, stay aligned with your strategy and do the things necessary to execute and implement, you can turn things around. Even when drama is happening all around you, it makes sense for businesses not to allow the tumult to affect the way they go to work and come to market.