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Costco Visa Card Review: A Solid Pick for More Than Just Costco Fans

Refreshed Review Updated Dec. 20, 2022
Lyle Daly
By: Lyle Daly

Our Credit Cards Expert

Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page.  Citi is an advertising partner of The Ascent.

If you have a Costco membership, the Costco Anywhere Visa® Card by Citi, an advertising partner with The Ascent, can earn you cash back on your spending at the warehouse giant. To make it even better, the card also earns bonus cash back on a variety of spending categories, giving you plenty of chances to rack up more rewards. Check out this full Costco Anywhere Visa® Card by Citi review to decide if it deserves a place in your wallet.

Rating image, 4.50 out of 5 stars.
4.50 stars
Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor

Credit Score:
Excellent (740-850) Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Intro APR

Purchases: N/A

Balance Transfers: N/A

Regular APR

19.49% (Variable)

Rewards Circle with letter I in it. 4% back on gas and EV charging ($7,000 annual spending cap), 3% back on restaurants and travel, 2% back on Costco purchases, 1% back on other purchases

1% - 4% back

Annual Fee

$0 for Costco members

Welcome Offer

N/A

  • Hard to beat for Costco shoppers with the lucrative rewards program and no annual fee for members. The gas and EV charging cash back earning potential is among the highest you'll find.

    • Gas and EV charging cash back
    • Costco cash back
    • Travel and dining cash back
    • Purchase protections
    • No foreign transaction fee
    • No sign-up bonus
    • No intro APR offer
    • Clunky cash back redemptions
    • Discover one of Citi's best cash back rewards cards designed exclusively for Costco members
    • 4% cash back on eligible gas and EV charging purchases 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

Full Costco Visa Card review

This credit card is a good fit for: Costco shoppers who have high spending at the warehouse store and on gas.

Top perks

The Costco credit card has valuable features, with the most notable being its high cash back rates.

Up to 4% back

This credit card earns:

  • 4% back on eligible gas and EV charging purchases, up to a spending cap of $7,000 per year
  • 3% back on restaurants and travel spending, including Costco Travel purchases
  • 2% back on other purchases from Costco and Costco.com
  • 1% back on all other eligible purchases

If you spend quite a bit on gas and groceries, the cash back rates on this card will be right up your alley.

No annual fee

This is a no annual fee card. To be fair, you do need to pay an annual fee for a Costco membership. You're probably already a member if you're checking out a Costco credit card, though. If you get this card, it also effectively replaces your Costco membership card.

No foreign transaction fee

If you're taking a trip out of the country, the Costco Anywhere Visa® Card by Citi doesn't charge an additional fee for foreign transactions. Given that it also earns bonus cash back at restaurants and on travel purchases, this card is a solid travel credit card choice.

Purchase protections

This card offers complimentary damage and theft purchase protection that covers the cost of refunds or repairs on eligible claims. Coverage applies for 120 days after the purchase date except for New York residents, who get 90 days of purchase protection.

Cardholders also get extended warranty protection on eligible purchases for the time being. However, this benefit will be removed effective Jan. 22, 2023. On purchases made before that date, extended warranty protection adds 24 months to manufacturers' warranties, up to a maximum coverage limit of seven years.

Alternatives to consider

If you want more flexible cash back categories: The Bank of America® Customized Cash Rewards credit card lets you choose a category to earn 3% cash back. It also offers 2% back at grocery stores and wholesale clubs like Costco. The 3% and 2% cash back rates apply to your first $2,500 in combined spending across those categories per quarter.

If you want a sign-up bonus offer: The Citi® Double Cash Card – 18 month BT offer offers a $200 cash back bonus after you spend $1,500 in the first six months. In addition to the great bonus offer, it also offers one of the most generous unlimited cash back rates we've seen.

As of Feb. 03, 2023
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Costco Anywhere Visa® Card by Citi Bank of America® Customized Cash Rewards credit card Citi® Double Cash Card – 18 month BT offer
Rating image, 4.50 out of 5 stars.
4.50 stars
Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.50 out of 5 stars.
4.50 stars
Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Rating image, 5.00 out of 5 stars.
5.00 stars
Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor

Credit Rating Requirement:

Excellent (740-850) Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Credit Rating Requirement:

Good/Excellent (670-850) Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Credit Rating Requirement:

Good/Excellent (670-850) Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Welcome Offer:

N/A

Welcome Offer: Circle with letter I in it. $200 online cash rewards bonus after making at least $1,000 in purchases within the first 90 days of account opening

$200 cash rewards

Welcome Offer:

N/A

Rewards Program: Circle with letter I in it. 4% back on gas and EV charging ($7,000 annual spending cap), 3% back on restaurants and travel, 2% back on Costco purchases, 1% back on other purchases

1% - 4% back

Rewards Program: Circle with letter I in it. 3% cash back in your choice category, 2% at grocery stores & wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), 1% on all other purchases.

1% - 3% cash back

Rewards Program: Circle with letter I in it. 2% cash back: 1% when you buy plus 1% as you pay

Up to 2% cash back

Intro APR:

Purchases: N/A

Balance Transfers: N/A

Intro APR: Circle with letter I in it. 0% Intro APR for 18 billing cycles for purchases. 0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.24% - 28.24% Variable APR on purchases and balance transfers will apply. A 3% fee (min $10) applies to all balance transfers.

Purchases: 0%, 18 billing cycles

Balance Transfers: 0%, 18 billing cycles for any balance transfers made in the first 60 days

Intro APR: Circle with letter I in it. N/A

Purchases: N/A

Balance Transfers: 0%, 18 months

Regular APR:

19.49% (Variable)

Regular APR:

18.24% - 28.24% (Variable)

Regular APR:

18.24% - 28.24% (Variable)

Annual Fee:

$0 for Costco members

Annual Fee:

$0

Annual Fee:

$0

Highlights:

  • Discover one of Citi's best cash back rewards cards designed exclusively for Costco members
  • 4% cash back on eligible gas and EV charging purchases 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

Highlights:

  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
  • Earn 3% cash back in the category of your choice, automatic 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.
  • If you're a Preferred Rewards member, you can earn 25%-75% more cash back on every purchase. That means you could earn 3.75%-5.25% cash back on purchases in your choice category.
  • No annual fee and no expiration on rewards.
  • New longer intro period! 0% Introductory APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.24% - 28.24% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.
  • Contactless Cards - The security of a chip card, with the convenience of a tap.
  • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.

Highlights:

  • Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • To earn cash back, pay at least the minimum due on time.
  • Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 18.24% - 28.24%, based on your creditworthiness.
  • Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
  • If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
  • There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
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What could be improved

There are some areas where the Costco Anywhere Visa® Card by Citi falls short compared to the competition.

Rewards on Costco purchases

A minor criticism of this card's cash back rates is that it gets you just 2% back when you shop at Costco or Costco.com. Some store credit cards offer 3% or more back at their respective brands, so Costco's credit card comes up a bit short.

No sign-up bonus

If you're looking for big sign-up bonuses, you won't find one with this card.

No 0% intro APR

0% intro APR offers can save you money on expensive purchases that you need some time to pay off. Once again, the Costco Anywhere Visa® Card by Citi doesn't offer this kind of benefit. You'll need to check out other credit card reviews if that's what you're after.

One cash back distribution per year

The biggest frustration with this card is an archaic method of getting your cash back. After the close of your February billing statement, Costco will send you your cash back from the previous year. Most cardholders get a reward certificate, but Citi and Costco may decide on another method for cash back amounts of over $10,000.

The reward certificate is valid for cash back or Costco purchases, and you have until Dec. 31 of the year you get it to use it.

Getting your cash back once per year isn't ideal. What makes it even worse is that you lose all that cash back if your card is canceled before Costco sends you the reward certificate. Compared to other popular credit cards, this Costco credit card doesn't make it very user-friendly to cash in what you've earned.

See more: Best Citi Credit Cards

TIP

How to increase your overall cash back

You can earn 2% back on purchases by becoming a Gold Star Executive Costco member. You'll still earn the 2% base rate this card offers, meaning a total of 4% back on regular purchases and 5% back on Costco Travel.

Find the best credit card for your needs

Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.

Suggested credit score

The recommended credit score to apply for the Costco Anywhere Visa® Card by Citi is 720 or higher. This credit card is intended for shoppers with excellent credit. You will also need to be a Costco member and provide your membership number when you apply.

The Costco Visa Card is right for you if:

You do most of your shopping at Costco or if you drive often and spend a lot of money on gas. It can be especially valuable for those families who ring up big Costco bills and want to start getting rewarded for it. And if you have a Costco Gold Star Executive membership, you should absolutely get the Costco Anywhere Visa® Card by Citi to boost your cash back.

If you shop at a variety of different retailers or if you want cash back you can redeem any time, then you're better off checking out these top cash back cards.

FAQs

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