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If you're a business owner who does quite a bit of shopping at Costco, then you could get a lot of money back with the Costco Anywhere Visa® Business Card by Citi, an advertising partner with The Ascent. This card offers several bonus categories that make it great for earning cash back, and it won't cost you anything extra. To see if you should apply, check out the good and the bad of this card in our Costco Anywhere Visa® Business Card by Citi review.
Costco Anywhere Visa® Business Card by Citi
The gas cash back, alone, makes this a winner. The premium cash back for restaurants, travel, and Costco purchases make it hard to beat, even more so for Costco members.
This credit card is a good fit for: Business owners who shop at Costco and want to earn some of the top cash back rates on the market.
The Costco Anywhere Visa® Business Card by Citi earns the following cash back rates:
Some credit cards earn more back on either gas and groceries or travel and restaurants, but not both. With the Costco Anywhere Visa® Business Card by Citi, you won't need to choose, because it earns ample cash back in all those categories.
This is a no annual fee card, although you will need to pay an annual fee for a Costco membership. One extra perk of having a Costco credit card is that you can carry that instead of your Costco membership card.
You can use this card anywhere in the world without paying an extra fee.
Your Costco Anywhere Visa® Business Card by Citi may cover repair costs or refunds if eligible purchases you make with the card are damaged or stolen. The card's purchase protection lasts for 120 days from the date of the sale (or 90 days for residents of New York).
While the cash back this card earns is a plus, it does fall a bit short when it comes to the percentage you can earn at Costco (besides the store's gas stations) and Costco.com. For a store card, 2% back at the store itself isn't the best.
Learn more: Best Rewards Credit Cards
Sign-up bonuses are a popular incentive many credit cards offer to new clients, but the Costco Anywhere Visa® Business Card by Citi doesn't have one.
Some business credit cards have 0% intro APR offers, which are useful for clients who have expensive business purchases they need to pay off over time. With this card, you'll pay the standard interest rate from the beginning.
A potential frustration is that you can't just redeem your cash back at any time. Instead, you'll receive your cash back for the prior year after the close of February's billing cycle. Most cardholders get a reward certificate, although Citi and Costco reserve the right to send cash back of over $10,000 through alternative methods.
You can use your reward certificate for cash back or to purchase merchandise. The certificate is good until Dec. 31 of the year you receive it.
This method of receiving cash back is obviously less convenient than redeeming it online whenever you have enough for the redemption minimum, which is what most cash back cards offer. And the bigger problem is that all your cash back is forfeit if your credit account is closed before reward certificates are sent out. If you decide you want to close your card in June, you’ll have to wait until the next year or throw away all your cash back.
Read more: Best Business Credit Cards
Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.
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Cardholders with a Gold Star Executive membership can earn an additional 2% back on purchases. Combined with this card, you'll earn 4% back on Costco purchases and 5% back on travel.
To have the best chance of getting the Costco Anywhere Visa® Business Card by Citi, you should have an excellent credit score of at least 720. Although this is a business credit card, Citi also heavily weighs your personal credit during the application process.
You're eligible for a business card with any type of business, including a sole proprietorship, and your business doesn't need to be making money yet. A Costco membership number is required to fill out the application.
Read more: Best Cash Back Business Credit Cards
If you want a 0% intro APR offer to finance business expenses: You can't do much better than the Ink Business Cash® Credit Card, which offers a 12-month 0% intro APR on purchases. That's one of many perks on this impressive no annual fee card, as it also offers up to 5% back in select spending categories and has one of the biggest sign-up bonuses of any business credit card.
If you want to earn a high cash back rate on your spending: The Capital One® Spark® Cash Select for Business earns an unlimited 2% back on purchases, and it offers a $500 bonus when you spend $4,500 within three months. Although this card has a $95 annual fee, that is waived for the first year.
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Ink Business Cash® Credit Card |
Capital One Spark 2% Cash Plus |
Rating image, 4.50 out of 5 stars.
4.50 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, 4.50 out of 5 stars.
4.50 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. |
Apply Now for Ink Business Cash® Credit Card
On Chase's Secure Website. |
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Credit Rating Requirement: |
Credit Rating Requirement: |
$750 |
$1,000 |
1% - 5% back |
Rewards Program: 2% cash back |
Intro APR: Purchases: 0%, 12 months Balance Transfers: N/A |
Intro APR: Purchases: N/A Balance Transfers: N/A |
Regular APR: 14.74% - 20.74% Variable |
Regular APR: Pay in full, 2.99% monthly late fee otherwise |
Annual Fee: $0 |
Annual Fee: $150 |
Highlights:
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Highlights:
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Apply Now for Ink Business Cash® Credit Card
On Chase's Secure Website. |
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Capital One Spark 2% Cash Plus is unavailable on The Ascent. All information was collected independently from the issuer. Some items may be out of date.
With its 4% cash back rate on gas, the Costco Anywhere Visa® Business Card by Citi is ideal if your business has you or your employees on the road often. It's also obviously a fantastic option if Costco is your retailer of choice. If you shop at Costco for most of your business supplies and use Costco Travel to book your trips, then you'll get quite a bit of value from this card.
There are no published credit limits for the Costco Anywhere Visa® Business Card by Citi. Credit limits between $1,500 and $25,000 have been self-reported by cardholders.
You can use this card to make purchases anywhere Visa credit cards are accepted.
Yes, the Costco Anywhere Visa® Business Card by Citi can help your business build business credit. However, it will not help you build your personal (consumer) credit.
Business credit cards only help you build personal credit if they are reported to the consumer credit bureaus. This card is issued by Citi. Reports indicate that Citi does not submit business card activity to the consumer bureaus.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
The Motley Fool owns shares of and recommends Visa.
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