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Out of the us visa used to win that title. Not sure now.

This also makes me wonder what kind of deal Costco have... Since i doubt they bend to those things easily.

AmEx has special Costco card, which you can only use with valid Costco membership (it automatically renews it per year) and the cashback you are receiving will be in a form of coupon given yearly which you can only spend back at Costco.

You can cash the check at the customer service desk. But yes, you can only redeem the cash-back coupon at Costco.

costco probably gets discounted processing rates for being the exclusive cc vendor

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