Costco has always had their own card. Before that, they didn't even accept credit cards so they didn't have to pay processing fees. My understanding at this poi

Costco has always had their own card. Before that, they didn't even accept credit cards so they didn't have to pay processing fees. My understanding at this point is that Costco actually made AMEX and Visa bid for the business, they actually make money every time their branded card is swiped and they pay Visa dramatically less for general processing fees than other retailers