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- Costco Anywhere Visa® Card by Citi Review
Costco Anywhere Visa® Card by Citi Review
By: Lyle Daly
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If you have a Costco membership, the Costco Anywhere Visa® Card by Citi can earn you cash back on all 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.
This Costco Anywhere Visa® Card by Citi review will provide you all the info you need to decide whether this card from Citi, which is an advertising partner with The Ascent, deserves a place in your wallet.
Costco Anywhere Visa® Card by Citi
Apply Now
On Citi's Secure Website.
Rating image, 4.5 out of 5 stars.
4.5 stars
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.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.
Rewards
4% back on gas ($7,000 annual spending cap), 3% back on restaurants and travel, 2% back on Costco purchases, 1% back on all else
Annual Fee
No annual fee for this credit card with your paid Costco Membership.
Intro APR
Purchases: N/A
Balance Transfers: N/A
Ongoing APR
15.24%, variable
Bonus
N/A
Highlights
- 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.
Top perks
Up to 4% back: The cash back rates on this card are excellent and on par with the very best credit cards. You'll earn 4% back on all eligible gas purchases, up to a spending cap of $7,000 per year. That includes Costco gas stations. You'll also get 3% back on restaurant and travel spending, which includes Costco travel purchases. Any other spending at Costco or on Costco.com earns 2% back. On everything else, you get 1% back.
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 fees: 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.
Damage and theft purchase protection: This card offers complimentary purchase protections that cover the costs 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.
Extended warranty coverage: Your Costco credit card will automatically provide an extra 24 months of warranty coverage on eligible purchases that have a manufacturer's warranty.
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.
What could be improved
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: Zero-interest 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.
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 cash back cards, this Costco credit card doesn't make it very user-friendly to cash in what you've earned.
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.
Alternatives to consider
- If you want to earn bonus cash back at more stores: Check out the Bank of America® Cash Rewards credit card, which earns 2% back at grocery stores and wholesale clubs, plus 3% back on a category of your choosing. You earn that bonus cash back on your first $2,500 in combined spending per quarter across those bonus categories.
- If you want to earn a high flat rate on every purchase: The Citi® Double Cash Card – 18 month BT offer is a leader here with a stellar 2% cash back rate. The way it offers cash back is unique, as you get 1% back upon making a purchase and the other 1% when you pay your bill on time. As long as you don't miss any payments, you'll be earning one of the best cash back rates on the market.
As of Sep. 01, 2020
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Bank of America® Cash Rewards credit card |
Citi® Double Cash Card – 18 month BT offer |
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Rating image, 4.5 out of 5 stars.
4.5 stars
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.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. |
Rating image, 4.5 out of 5 stars.
4.5 stars
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.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. |
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Apply Now
On Citi's Secure Website. |
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| Read Full Review | |
| Bonus: $200 after spending $1,000 within 90 days | Bonus: N/A |
| Rewards Program: 3% cash back on gas or in your choice category, 2% at grocery stores & wholesale clubs (up to $2,500 in combined bonus category quarterly purchases), 1% on all else. | Rewards Program: 2% cash back: 1% when you buy plus 1% as you pay |
| Intro APR: Purchases: 0%, 12 billing cycles Balance Transfers: 0%, 12 billing cycles on transfers made within first 60 days | Intro APR: Purchases: N/A Balance Transfers: 0%, 18 months |
| Regular APR: 13.99% - 23.99%, variable | Regular APR: 13.99% – 23.99%, variable |
| Annual Fee: $0 | Annual Fee: $0 |
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Highlights:
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Highlights:
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Apply Now
On Citi's Secure Website. |
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This card is right for you if:
The Costco Anywhere Visa® Card by Citi is a perfect fit 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 this card 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.
About the Author
Lyle Daly is a personal finance writer who specializes in credit cards, travel rewards programs, and banking. He writes for The Ascent and The Motley Fool, and his work has appeared in USA Today and Yahoo! Finance. He was born in California but currently lives as a digital nomad with a home base in Colombia.
