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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.
Apply Now
On Citi's Secure Website.
Costco Anywhere Visa® Business Card by Citi
Apply Now
On Citi's Secure Website.
Rating image, 4.50 out of 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.
Bottom Line
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.
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
$0 for Costco members
Intro APR
Purchases: N/A
Balance Transfers: N/A
Ongoing APR
15.24%, variable
Welcome Bonus
N/A
Highlights
- 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
Full Costco Business Card review
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.
Pros
- Gas rewards
- Costco rewards
- Travel and dining rewards
- Purchase protections
- No foreign transaction fee
Cons
- No sign-up bonus
- No zero-interest offer
- Difficult cash back redemptions
Top perks
Up to 4% back: The Costco Anywhere Visa® Business Card by Citi earns the following cash back rates:
- 4% for eligible gas spending worldwide, including gas at Costco (applies to the first $7,000 spent in this category per year)
- 3% on eligible travel and restaurants (including purchases made through Costco Travel)
- 2% on all other spending through Costco or Costco.com
- 1% on all other spending
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.
No annual fee: 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.
No foreign transaction fee: You can use this card anywhere in the world without paying an extra fee.
Damage and theft purchase protection: 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).
Extended warranty coverage: On eligible purchases that have a manufacturer's warranty, your Costco Anywhere Visa® Business Card by Citi includes extended warranty coverage for 24 months and up to $10,000. Note that total warranty coverage won't exceed seven years from the purchase date.
What could be improved
Rewards for Costco purchases: 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.
Sign-up bonus: 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.
0% APR intro offer: 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.
One annual cash back distribution: 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.
TIP
Amp up your cash back
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.
Suggested credit score
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.
Alternatives to consider
- If you want a zero interest 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 all your spending: The Capital One® Spark® Cash Select for Business earns an unlimited 2% back on every purchase, 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.
As of May. 03, 2021
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| Ink Business Cash® Credit Card |
Capital One® Spark® Cash for Business |
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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, 4.00 out of 5 stars.
4.00 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 Chase's Secure Website. |
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| Read Full Review | |
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Credit Rating Requirement: |
Credit Rating Requirement: |
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Welcome Bonus: $750 after spending $7,500 within 3 months |
Welcome Bonus: $500 after spending $4,500 within the 3 months |
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Rewards Program: 5% back at office supply stores and internet, cable and phone services (on $25,000 spent each year), 2% back at gas stations and restaurants (on $25,000 spent each year), 1% on all else |
Rewards Program: Unlimited 2% cash back |
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Intro APR: Purchases: 0%, 12 months Balance Transfers: N/A |
Intro APR: Purchases: N/A Balance Transfers: N/A |
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Regular APR: 13.24% - 19.24% Variable |
Regular APR: 20.99%, variable |
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Annual Fee: $0 |
Annual Fee: $0 intro for first year; $95 after that |
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Highlights:
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Highlights:
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Apply Now
On Chase's Secure Website. |
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Capital One® Spark® Cash for Business is temporarily unavailable on The Ascent. All information was collected independently from the issuer. Some items may be out of date.
This card is right for you if:
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.
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.
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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 has a Disclosure Policy. The Author and/or The Motley Fool may have an interest in companies mentioned.
The Motley Fool owns shares of and recommends Visa.
