The Perks of Warehouse Club Credit Cards

Costco members were shocked some months ago to learn that Costco and American Express were getting a divorce. Starting June 20, Costco will discontinue its Amex TrueEarnings card and begin accepting the Costco Anywhere Visa by Citi. Customers will also be able to use any Visa credit card at the register, but Amex cards will no longer be accepted.

The good news: Costco's new Visa card (0% APR for seven months, then 15.49%; membership fee starts at $55 and includes the credit card's annual fee) offers better cash-back rewards than the Amex card. It will pay 4% on up to $7,000 in annual gas purchases at Costco and other gas stations, 3% on dining and travel, 2% at Costco and 1% on everything else. (For more information, go to www.costco.com/credit-card.html.)

Sam's Club and BJ's Wholesale Club also offer credit cards that charge no separate annual fee. The Sam's Club MasterCard (14.9% or 22.9% APR; membership fee starts at $45) pays an impressive 5% on up to $6,000 in gas purchases a year. You also get 3% back on dining and travel, and 1% on all other purchases. The My BJ's Perks MasterCard (14.99% or 24.99% APR) has two levels. The Elite card, with a $100 annual membership fee, offers 5% back on BJ's purchases; the Plus card, with a $50 annual membership fee, pays 3% in-store. Both cards provide a 10-cent-per-gallon discount at BJ's gas stations, 2% cash back on other gas purchases and dining, and 1% on everything else.

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Which card rewards you most depends on your spending patterns. But especially if you buy a lot of gas, the Sam’s Club card gets the nod.