American Express Co. is teaming up with warehouse club retailer Costco Wholesale Corp., to offer cobranded consumer and corporate small-business cards. American Express cards will also be accepted at Costco's 290 stores, which previously have accepted only Discover cards.

James Sinegal, president and chief executive officer of the Seattle-based retailer, said Wednesday that the arrangement with American Express is exclusive and that Costco has no plans to accept MasterCard or Visa cards.

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