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After losing Costco, American Express cuts deal with Sam's Club

Seven months after splitting with longtime partner Costco Wholesale Corp., American Express Co. said Thursday that its cards will be accepted at rival membership warehouse Sam's Club starting Oct. 1.

Sam's Club, a division of Wal-Mart Stores Inc., has 653 stores in the U.S. and Puerto Rico.

"We are constantly looking for ways to expand the places where our card members can shop and bring more convenience and value to their everyday lives," Anré Williams, American Express president of global merchant services, said in a statement.

New York-based American Express was the only credit card accepted at Costco for 15 years.