Review of the Costco Anywhere Visa® and Anywhere Visa® Business Card by Citi
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Costco Anywhere Visa® Card by Citi
Costco Anywhere Visa® Business Card by Citi
It’s easy to poke fun at Costco’s larger-than-life products and incredible return policy — watch this.
Are there any other one-stop shops where you can buy a pair of pants, check prices on grand pianos, and book a vacation? Do you need a wheel of cheese so big you could use it as a spare tire? And where else can you return an empty bottle of wine?
But the Costco credit cards are no joke:
They’re better than most store cards: more rewarding, more useful outside the co-branded store, and backed by a more reliable issuer (Citibank). This makes them good for everyday spending — again, unlike most store cards.
The main focus is the gas bonus category — you’ll enjoy one of the best rates available on any credit card. The other bonus categories are a bit less impressive, although they’re still pretty competitive and nothing to sneeze at (but you can get big boxes of Kleenex at Costco, just in case).
These cards are only available to Costco members, where they’ll serve as your member ID. They provide a rewards program that starts and ends at Costco, for the most part: Use your card at Costco (or anywhere else) to earn cash back, and then use your rewards for more Costco purchases. Rinse and repeat.
If you’re already a Costco member, you have plenty of good reasons to get a Costco credit card (unless you’re already earning better rewards through other cards).
The savings are enormous. Image credit: Random meme-makers
Costco Anywhere Visa® Card by Citi
Details
securely on the issuer's website
- Discover one of Citi’s best cash back rewards cards designed exclusively for Costco members
- 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter
- 3% cash back on restaurants and eligible travel purchases
- 2% cash back on all other purchases from Costco and Costco.com
- 1% cash back on all other purchases
- No annual fee with your paid Costco membership and enjoy no foreign transaction fees on purchases
- Receive an annual credit card reward certificate, which is redeemable for cash or merchandise at U.S. Costco warehouses, including Puerto Rico
- The standard variable APR for Citi Flex Plan is 15.24%. Citi Flex Plan offers are made available at Citi’s discretion.
Citi is a Credit Card Insider advertiser.
Costco Anywhere Visa® Business Card by Citi
Details
securely on the issuer's website
- Discover the only business credit card designed exclusively for Costco members
- 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter
- 3% cash back on restaurants and eligible travel purchases
- 2% cash back on all other purchases from Costco and Costco.com
- 1% cash back on all other purchases
- No annual fee with your paid Costco membership and enjoy no foreign transaction fees on purchases
- Whether you’re traveling for business or pleasure, enjoy no foreign transaction fees on purchases
- Receive an annual credit card reward certificate, which is redeemable for cash or merchandise at U.S. Costco warehouses, including Puerto Rico
Citi is a Credit Card Insider advertiser.
Where Can I Use the Costco Credit Cards?
You can use both of the Costco cards anywhere Visa is accepted, which is pretty much everywhere.
Insider tip
Costco began accepting Visa credit cards exclusively in 2016 — Mastercard, American Express, and Discover credit cards are not currently accepted. This only applies to credit cards, however; all debit and prepaid cards will be accepted. Before 2016, Costco only accepted Amex credit cards.
Our Rating: 5 Out of 5 Stars
We give the Costco Anywhere Visa credit cards 5 out of 5 Stars — and if you know us, that’s pretty rare for store credit cards.
Why We Like Them
- Excellent rewards at gas stations, making them some of the best credit cards for gas
- Competitive bonus categories make these cards useful outside of Costco
- Decent protections to help safeguard you and your purchases
- No foreign transaction fees
Why They Could Be Better
- Rewards are only disbursed once per year at the end of February, and expire at the end of the year
- 2% cash back at Costco is not too bad, but it’s nothing to write home about
- No signup bonus for online applications (in-store applicants may receive a small bonus offer)
- Must be a Costco member to qualify, at a minimum of $60 per year (not a big downside — this is normal for co-branded wholesale club cards)
Insider Advice: Getting the Most Out of Your Cards
- For all your Costco purchases: Use your card for every purchase at Costco or Costco.com, where you’ll get 2% cash back.
- Great for gas: The Costco cards offer 4% back on eligible gas purchases, including gas at Costco, but take note of the restrictions on this category below.
- Above average for travel and dining too: This is a nice surprise on a store card. 3% cash back on those purchases is competitive with some of the top dining and travel rewards credit cards.
- Mark your calendar for February: At the end of February you’ll get a Costco Cash Rewards certificate including all your rewards from the past year, which has to be used in-store at Costco by the end of the year.
- You can redeem for cash: For partial redemptions of Costco Cash Rewards certificates you can get the remainder of your rewards balance back in cash. And you can request the full cash value be provided by check, though this will be at Costco’s discretion.
- Look into the shopping protections: The Costco cards come with benefits to help protect your purchases; check them out before you start shopping.
The Rewards
Both of the Costco Anywhere Visa cards have the same rewards program for earning and redeeming cash back.
Earning
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Here we see one downside of these cards: There’s no signup bonus, at least when applying online. If you apply in-store you may be offered a rotisserie chicken or five gallon bucket, which is pretty meager compared to most signup bonus offers but might be nice if you didn’t have dinner plans. Costco Executive members may be offered in-store bonuses as well.
As for the rewards: These are some great rates, especially for anyone who travels frequently, but there are a couple important limitations to keep in mind about the gas category.
First, the 4% rate is limited to $7,000 in spending per year (≈$583 per month), so you can earn up to $280 cash back per year at that rate. Keep an eye on your spending so you can switch to a different gas credit card if you hit the limit.
Second, the 4% rate does not apply to gas purchased for non-automobile purposes, or gas purchased at:
- Convenience stores
- Supermarkets
- Superstores
- Wholesale clubs other than Costco
So you’re a bit limited in where you can fill up, but if you’re going to Costco regularly that shouldn’t be much of a problem (gas is often cheaper there, too). And these restrictions aren’t quite as restrictive as they may seem at first glance. Pretty much every gas station includes a convenience store, but this doesn’t actually mean your purchases will be coded as “convenience store” — in many of those cases you’ll still get 4% back on gas.
Many people have reported that their gas purchases earned 4% back, even when they bought gas at supermarkets like Kroger (check the comments in that thread, not just the initial post). But others have said gas purchases from Kroger did not earn 4% back. This might be confusing, but it’s because Kroger stores aren’t all categorized in the same way — and this is true for every retail brand. Some specific store locations could be categorized one way, while other locations are categorized differently.
You can assume that many fuel pumps will qualify, like those at big gas station brands, but you may want to test with a small purchase before buying a lot of gas. You may also find that, in some cases, when you pay at the pump it will be categorized as a gas station, but when you pay inside it will be categorized differently.
If you’d like to do some research before going out, you can check Visa’s Supplier Locator tool. Search for the specific merchant in question (including location), and if it’s listed you’ll be able to see how it’s categorized. Overall, you’ll probably find that you can get 4% back on gas at more merchants than the terms would imply.
The eligible travel purchases include airfare, hotels, car rentals, and travel agencies, as well as Costco Travel purchases.
There are a lot of credit cards for buying groceries, but they usually don’t count wholesale clubs like Costco as a grocery store. This makes the Costco cards all the more valuable, as they’re some of the best ways to get more than 1% cash back at Costco (especially with the Visa credit card limitation).
Insider tip
If you have a Gold Star Executive or Business Executive membership at Costco, you’ll earn 2% cash back on eligible Costco purchases (up to $1,000 in rewards per year). Those rewards will be in addition to any rewards you earn from a Costco Anywhere Visa Card. So, if you have a card and one of those memberships, you would effectively earn 4% cash back on eligible Costco purchases.
Redeeming
The rewards you earn with these cards will be provided in the form of Costco Cash Rewards certificates. Here’s everything you need to know about redeeming:
- You will only receive one Costco Cash Rewards certificate per year, after your February billing statement closes.
- The certificate will expire later that year, on December 31.
- The certificate will include all the rewards you earned from January through December of the previous year.
- The certificate can only be used for eligible in-store Costco purchases in the U.S., not online (some Costco stores may not allow alcohol purchases with rewards).
- If you only use a portion of the balance on the certificate, you can get the rest in cash at a register when checking out.
- Your certificate can be redeemed for cash at a register (at Costco’s discretion, you may receive a check or electronic transfer instead).
- You will forfeit any accrued rewards if you close your card account or cancel your Costco membership.
You can learn more about how to view and redeem your rewards here.
Costco Cash Rewards Certificate. Image credit: Citi
This rewards program is a bit unusual, with just a single disbursement per year. This could easily be seen as a downside. Who wants to wait? Indeed, some card issuers allow you to redeem as much as you want, whenever you want.
But it’s not necessarily a bad thing — you’re not going to get rich from credit card rewards. In a way, this could be a load off your mind. Instead of obsessing over cashing in each month, counting the nickels as they add up and checking back to see if they’re ready to redeem, you can just forget about it until after February. Then you might be in for a nice surprise, which could pay for groceries for a month or so. (Just don’t forget to keep track of the $7,000 spending limit on gas.)
Insider tip
If you’re planning on cancelling your Costco membership, you should probably wait until after February so you can cash in your rewards.
The Benefits
The Costco cards are a bit below average when it comes to their extra benefits. You’ll get a small set of protections to help cover your purchases, and that’s about it.
The shopping protections will help for any eligible items you buy — including Costco purchases.
The consumer card and the business card offer basically the same sets of benefits, outlined below.
- Damage & Theft Purchase Protection: The aptly named Damage & Theft Purchase Protection will… protect your eligible purchases against damage and theft! Eligible items are covered for 120 days (90 days for NY residents).
- Extended Warranty: Cardholders can enjoy Costco’s Two Plus Two Warranty program. Costco automatically extends the manufacturer’s warranty for eligible items by two years with its Concierge Service; but if you have a Costco card, Citi will extend eligible warranties for an additional two years — so you can get up to seven years of coverage in total.
- $0 Liability on Unauthorized Charges: You won’t be held responsible for any fraudulent charges (consumer card only).
In addition to the benefits above, each card comes with the Citi Private Pass perk, which provides access to exclusive tickets for sports, music, and dining.
The Terms & Fees
| Card | Purchase APR | Balance Transfer APR | Cash Advance APR |
|---|---|---|---|
| Costco Anywhere Visa | 15.24% (Variable) | 15.24% (Variable) | 25.24% (Variable) |
| Costco Anywhere Visa Business | 15.24% (Variable) | N/A | 25.24% (Variable) |
| Card | Annual Fee | Foreign Transaction Fee | Balance Transfer Fee | Cash Advance Fee |
|---|---|---|---|---|
| Costco Anywhere Visa | $0 (Costco membership required) | None | 3% of each balance transfer; $5 minimum | 5% of each cash advance; $10 minimum |
| Costco Anywhere Visa Business | $0 (Costco membership required) | None | N/A | 5% of each cash advance; $10 minimum |
| Card | Penalty APR | Late Fee | Returned Payment Fee |
|---|---|---|---|
| Costco Anywhere Visa | Up to 29.99% (Variable) | Up to $40 | Up to $40 |
| Costco Anywhere Visa Business | Up to 29.99% (Variable) | $39 | $39 |
There’s only one significant difference to note here: The regular consumer card allows balance transfers, while the business card does not. But the consumer card isn’t very good for balance transfers — if that’s what you need, check out the Best Balance Transfer Credit Cards.
These cards have no annual fees, but you’ll need a Costco membership to qualify for them. That starts at $60 for a basic Gold Star membership, while a Gold Star Executive membership costs $120. Business memberships are also available, at the same prices.
You don’t need a Costco business membership to qualify for the Costco business card; you just need to be a member of any kind.
If you’re the Primary Member on your Costco membership, the membership fee will automatically be billed to your Costco credit card every year (unless you specify a different payment method).
The Bottom Line
If you’re already paying for a Costco membership, it shouldn’t be hard to decide whether to apply for one of these cards or not.
Take a look at your receipts for the past few months, and any rewards you earned from credit cards — how would things be different with a Costco card? Would you earn more in rewards, or less?
The Costco Anywhere Visa® Card by Citi will work for regular consumers, while the Costco Anywhere Visa® Business Card by Citi could be a good fit for small business owners. But just because you have a business, that doesn’t mean you need to get the business version — you may opt for the consumer version if you want those slightly different features.
If you’re not a Costco member, it probably wouldn’t make sense to become one just to qualify for one of these cards — unless you also plan to start shopping at Costco. There are plenty of other great cash back credit cards for everyday spending to choose from, in any case.
Maybe you were wondering if a Costco membership would be worth it — how do those calculations change when you throw a Costco credit card in the mix? That extra cash back should sweeten the pot a bit.
Keep reading to learn how to apply for these cards, and to see some other credit card alternatives — some for shopping at Costco, and some for shopping elsewhere.
How to Apply for the Costco Anywhere Visa Cards
To apply for either card, just click the appropriate Apply Now button below.
Most applicants will receive an instant decision, either approved or denied. In some cases the decision could take a bit longer, and Citi may request more information from you. If you’re denied, you’ll receive an adverse action letter explaining why.
Qualifications and Requirements
- Must be 18 to apply
- Must be a Costco member: Have your membership number ready
- Personal information: Name, date of birth, Social Security number, and U.S. citizenship status.
- Address and contact information: Home address, phone number, email address
- Financial information: Total annual income, monthly mortgage or rent payment, accounts held (checking, savings, money market)
Alternatives to the Costco Anywhere Visa and Costco Anywhere Business Visa
Chase Freedom Unlimited®
Details
The Chase Freedom Unlimited® (Review) provides 5% cash back on Lyft rides (through March 2022), travel purchased through Chase Ultimate Rewards, and grocery store purchases (not including Target or Walmart purchases; up to $12,000 spent in the first year). You’ll earn 1.5% cash back for all other purchases.
That flat rate includes Costco, of course, so you’ll still earn at a decent rate when you shop there. It’s a more flexible option than the Costco cards (offering the same rate everywhere) and you don’t need to wait till after February to get your rewards.
There’s also a long 0% intro APR for purchases, unlike the Costco cards.
You don’t need to pick just one — you could always combine the Chase card with either of the Costco cards. Use a Costco card while you’re at the club store, and for gas, travel, and dining, and then use the Freedom Unlimited for Lyft rides and all other purchases.
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- Shop through Chase/Chase Offers: Earn more cash back from a select number of retailers from the Shop through Chase marketplace, and find discounts via Chase Offers.
- Credit Journey: Gain access to the Credit Journey credit monitoring tool (although it’s free to use for anyone). It provides your TransUnion credit report-based VantageScore 3.0 credit score.
- Refer a Friend: Earn $100 cash back for every friend you refer who successfully applies for the Chase Freedom Unlimited, up to $500 per year.
- Shopping and travel protections: Purchase protection, extended warranty protection, travel and emergency assistance services, roadside dispatch, auto rental collision damage waiver, and trip cancellation/interruption insurance.
- Purchase APR: 0% for 15 months, then 14.99% - 23.74% Variable
- Balance Transfer APR: 14.99% - 23.74% Variable
- Annual fee: $0
Chase Freedom Flex℠
Details
The Chase Freedom Flex℠ (Review) is a Mastercard, so you can’t use it at Costco.
It’s like the Freedom Unlimited above, but you’ll earn 5% cash back in categories that change every three months, along with some others. The categories are published shortly before they’re active, so we’re not yet sure if Costco will be included in 2020; but wholesale clubs were included from October through December of 2018, and in prior years, so it’s possible they’ll show up again.
You’ll get a few more protections here than with the Costco cards, which could help in a pinch, along with a solid 0% rate for purchases.
Rather than just picking one or the other, you could use either of the Costco cards in addition to the Chase card. Use the Freedom Flex whenever you’ll earn 5% cash back, and the Costco when you’ll earn more in its bonus categories.
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- Shop through Chase/Chase Offers: Earn extra cash back and find discounts with select retailers.
- Chase Credit Journey: Monitor your credit with free access to your VantageScore 3.0, based on your TransUnion credit report, and receive helpful insight into the factors influencing the score.
- Refer a Friend: Earn $100 cash back for every friend you refer who successfully applies for the Chase Freedom Flex, up to $500 per year.
- Shopping and travel protections: Purchase protection, extended warranty protection, travel and emergency assistance services, roadside dispatch, auto rental collision damage waiver, and trip cancellation/interruption insurance.
- Purchase APR: 0% for 15 months, then 14.99% - 23.74% Variable
- Balance Transfer APR: 14.99% - 23.74% Variable
- Annual fee: $0
Bank of America® Cash Rewards Credit Card
Details
securely on the issuer's website
The Bank of America® Cash Rewards Credit Card (Review) is a Mastercard, so you can’t use it at Costco. But it does have a handy 2% category for grocery stores and wholesale clubs, making it useful for groceries and other clubs like Sam’s Club and BJ’s.
You’ll also get to pick your own 3% category every month, from a selection of choices — we recommend using this to get an above-average rate for online shopping, but you can adjust it to fit your spending habits. It provides a bit more flexibility compared to the Costco cards. However, you can only choose one category each month, and the Costco cards’ categories are always active. So you’re still somewhat restricted in where you can earn and you have to pay a little more attention.
The Bank of America card provides a few more benefits than the Costco cards, some of which are pretty useful. You’ll be able to monitor your FICO Score 8 credit score, based on your TransUnion credit report, and get a few travel protections.
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- Customer bonus: 10% customer rewards bonus for having eligible Bank of America checking or savings accounts; Preferred Rewards members can get a 25%–75% bonus
- Free FICO credit score: Use this card to monitor your FICO Score 8 credit score over time, based on your TransUnion credit report.
- Extended Warranty: Eligible purchases will have their manufacturer’s warranties doubled by up to one additional year. This benefit only applies to warranties of one year or less.
- Travel protections: Rental car insurance, travel accident insurance, trip cancellation/interruption insurance, and 24-hour travel assistance services
- Purchase and Balance Transfer APR: 0% for 12 billing cycles, then 13.99%–23.99% Variable
- Annual fee: $0
- No annual fee
- $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
- NEW OFFER: Maximize your cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement /furnishings
- Now earn 3% cash back in your choice category and 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), and unlimited 1% on all other purchases
- You can update your choice category for future purchases once each calendar month using the Mobile Banking app or Online Banking, or do nothing and it stays the same
- No expiration on rewards
- 0% Introductory APR for 12 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 16.24% – 26.24% Variable APR will apply. A 3% fee (min $10) applies to balance transfers
- If you’re a Preferred Rewards member, you can earn 25% – 75% more cash back on every purchase
Blue Cash Preferred® Card from American Express
Details
(Rates & Fees)securely on the issuer's website
The Blue Cash Preferred® Card from American Express (Review) is a bit different than the others in this post, because its main course blends groceries and streaming services with a side of gas. If you don’t usually shop at wholesale clubs, or you have a different card for clubs, this could be an excellent pick because you’ll get an industry-leading rate at U.S. supermarkets.
It’s issued by American Express, so the Blue Cash Preferred is not accepted at Costco.
These cards don’t have the largest selections of benefits, but you’re not getting these cards for benefits. You want to reap the rewards, and it’s hard to beat the Blue Cash Preferred for that.
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- Amex Offers: Find significant discounts at a changing selection of merchants and websites, like (at the time of publication) TurboTax, SamsClub.com, Etsy, and many more.
- ShopRunner membership: ShopRunner provides free two-day shipping and returns at participating online retailers.
- Shopping and travel protections: Return Protection, Car Rental Loss and Damage Protection
- Purchase APR: 0% on purchases for 12 months, then 13.99% - 23.99% Variable
- Annual fee: $0 introductory annual fee for one year, then $95
- Limited Time Offer: Earn a $300 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months. Offer Expires 12/10/2020
- Limited Time Offer: $0 introductory annual fee for one year, then $95. Offer Expires 12/10/2020
- 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
- 6% Cash Back on select U.S. streaming subscriptions.
- 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
- 1% Cash Back on other purchases.
- Plan It® gives the option to select purchases of $100 or more to split up into monthly payments with a fixed fee and no interest.
- Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.
- Terms Apply.
American Express is a Credit Card Insider advertiser.
Costco Anywhere Visa® Card by Citi
Details
securely on the issuer's website
- Discover one of Citi’s best cash back rewards cards designed exclusively for Costco members
- 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter
- 3% cash back on restaurants and eligible travel purchases
- 2% cash back on all other purchases from Costco and Costco.com
- 1% cash back on all other purchases
- No annual fee with your paid Costco membership and enjoy no foreign transaction fees on purchases
- Receive an annual credit card reward certificate, which is redeemable for cash or merchandise at U.S. Costco warehouses, including Puerto Rico
- The standard variable APR for Citi Flex Plan is 15.24%. Citi Flex Plan offers are made available at Citi’s discretion.
Citi is a Credit Card Insider advertiser.
Costco Anywhere Visa® Business Card by Citi
Details
securely on the issuer's website
- Discover the only business credit card designed exclusively for Costco members
- 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter
- 3% cash back on restaurants and eligible travel purchases
- 2% cash back on all other purchases from Costco and Costco.com
- 1% cash back on all other purchases
- No annual fee with your paid Costco membership and enjoy no foreign transaction fees on purchases
- Whether you’re traveling for business or pleasure, enjoy no foreign transaction fees on purchases
- Receive an annual credit card reward certificate, which is redeemable for cash or merchandise at U.S. Costco warehouses, including Puerto Rico
Citi is a Credit Card Insider advertiser.
Was this review helpful to you? Go ahead and share it with a friend! And if you use one of these cards leave a comment, we’d love to hear from you!
Check out our picks for the Best Store Credit Cards for shopping at specific merchants, and our picks for the Best Rewards Cards in general.
For rates and fees of the Blue Cash Preferred® Card from American Express, please click here.
The Costco Anywhere credit cards are excellent for avid Costco shoppers. They offer 2% back on purchases from Costco and Costco.com, plus surprisingly good reward rates on gas, restaurants, and travel.
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