ISSAQUAH, WA – Costco members saw another hiccup last weekend as the retailer makes for a transition with Citi’s Visa program.
A number of members received an email on Friday informing them that their credit cards accounts were closed, in a mixup that Citi told Business Insider was due to a systematic error.
Originally the card carrier had intended the emails to be sent to those whose Costco memberships had lapsed to alert them they could no longer use their Costco Anywhere Visa cards, according to the news source, but the error sent it to other cardholders who are still active.
As a result, some members reported emails not addressed to them with the last four digits of another account number listed, causing concerns of an account hack.
Costco responded Saturday with an email to all affected customers, stating "Your account and the cards for any existing authorized user(s) are open and available to use. We apologize for any concern or inconvenience this may have caused and please be assured your account has not been compromised."
While it has been a struggle for members, with some threatening to cancel due to long waits and difficulties in obtaining information from Citi, Costco continues to perform and looks to be continuing a slow-paced gain in previous months.
As of this morning, the company’s stock is trading at $168.05 USD, up .02%.
As for the issues that have been occurring, Citi reports that, to date, it has seen more than 337,000 new account acquisitions, far exceeding expectations since Costco made the switch in June.
AndNowUKnow will continue to follow the retailer’s progress, as well as other fluctuations in the market as they pertain to fresh produce.
