Chances are, if you enjoy shopping at Costco for bulk and discounted items, the Costco Anywhere Visa Card by Citi already caught your eye. With generous rewards on gas, travel, dining, and Costco purchases, this card certainly warrants a closer look.
In this post, we will explore everything you need to know about the coveted Costco credit card.
An Overview of Benefits
The Costco Anywhere Visa® Card is the only credit card accepted at Costco warehouses and gas stations. Offering 4% back on gas (including Costco gas), 3% back on dining and travel, 2% back on Costco/Costco.com purchases, and 1% back elsewhere, it provides solid rewards for Costco loyalists.
Additional benefits include:
- No annual fee
- Generous cash back rewards
- No foreign transaction fees
- Primary rental car insurance
- Extended warranty protection
- Travel and emergency assistance
- Special financing offers
With no annual fee, the Costco Anywhere Visa Card offers a lot of bang for your buck. Next let’s break down exactly how cash back earnings work.
Earning Cash Back Rewards
The Costco Anywhere Visa Card offers generous cash back through these 5 tiers:
4% Back on eligible gas purchases (on up to $7,000 per year, then 1% back) including gas at Costco
3% Back on restaurant and eligible travel purchases
2% Back on all purchases at Costco and Costco.com
1% Back on all other purchases
These bonus categories make it easy to maximize rewards on routine Costco shopping trips and everyday spending. And as an added perk, cash back comes in the form of an annual reward certificate to redeem at Costco warehouses.
Costco Visa Card Details to Know
Beyond rewards and redeeming, let’s explore some key details around eligibility requirements, credit limits, account management and more.
Applying and Getting Approved
Since it is a Costco credit card, only current Costco members can apply and qualify for this card. Both personal and business memberships are eligible as long as your name matches the Costco membership exactly.
This card does require strong credit to qualify and limits start around $5,000 for new applicants.
Paying the Bill and Account Management
The Costco Anywhere Visa Card billing cycle closes on the 25th of each month. Payments are due on the 22nd of the following month.
You can pay online, through the mobile app, by phone, or by mail. Account management can also be handled online or via their top-rated mobile app.
Special Financing Offers
For even more savings opportunities, Citi provides exclusive cardholder financing offers throughout the year. These often include deferred interest plans on purchases like furniture, jewelry, electronics, and more. Offers range from 6 months to 60 months interest free depending on the promotion.
Costco Card Fees, APRs, and Fine Print
Let’s finish up by outlining fees and financing rates along with some final considerations before applying.
No Annual Fee
Unlike premium travel rewards cards, the Costco Anywhere Visa® Card has no annual fee. This makes the existing rewards and offers even more valuable.
APRs Starting at 15.24%
APRs range from 15.24% on the low end up to 25.24% for less qualified applicants. There is also a 29.99% penalty APR that can kick in for late/missed payments.
As a store card, interest rates trend a bit higher but special financing offers can help offset costs on big purchases.
Foreign Transaction Fees
Also nice to have when shopping anywhere, the Costco Citi Visa® Card charges no foreign transaction fees. This helps maximize savings for travelers and abroad purchases.
Other Fine Print and Disclosures
Reviewing final fine print items and disclosures is always wise. Key details to note include:
- Must be a current Costco member to qualify
- Rewards come in the form of annual certificates
- Maximum $7,000 gas rewards per year (then 1%)
- Cash advances and balance transfers don’t earn rewards
While there are many benefits, is the Costco Anywhere Card the best fit for you? Let’s compare it to some alternatives.
How to Get the Costco Credit Card
The Costco Anywhere Visa® Card by Citi provides great rewards on Costco purchases and gas. Here’s how to get one:
- Check your credit – You’ll need good credit (Scores of 700+) for approval.
- Apply in-warehouse – Fill out an application at the membership counter or kiosk at any Costco warehouse.
- Apply online – Submit an online application through Costco’s website.
- Provide information – Have required personal and income details ready for the application.
- Accept card terms – Review all rates, benefits and program rules before accepting.
- Activate your card – Call the number on the sticker on the new card to activate it.
- Set up online access – Register your card on the Citi website to manage your account online.
Applying at your local Costco warehouse makes getting approved quick and convenient. You can also apply online.
How to Login to Your Costco Credit Card Account
You can manage your Citi Costco credit card account online via the Citi website:
- Go to www.citicards.com
- Click “Log In” in the top right corner
- Enter your Citi card username and password
- Click the “Costco” card account to view details
- View your balance, statements, transactions, and more
You can also download the Citi mobile app to manage your Costco card account on your phone or tablet conveniently. Signing into your account allows you to track rewards, make payments, set alerts, and more.
How the Costco Visa Compares to Other Credit Cards
With no annual fee yet solid gas, dining, travel and Costco rewards, the Costco Anywhere Visa Card definitely holds its own among top cards. However, depending on your spending habits and goals, other options may suit you better.
General Cash Back Cards like the Citi® Double Cash Card offer flat 2% back (1% when you buy plus 1% paying it off) across all purchases without worrying about categories. Downside – no Costco certificate rewards.
Premium Travel Cards like the Chase Sapphire Preferred® Card offer highly valuable travel redemption options and travel protections that the Costco card lacks but have $95+ annual fees.
Other Store Cards like the Amazon Prime Rewards Visa Signature Card offer 5% back and special financing on Amazon. Better if you don’t shop at Costco routinely.
As you can see, the Costco Anywhere Visa Card fills an excellent niche for Costco devotees who also spend decently on gas, travel and dining.
Is the Costco Anywhere Visa Card Worth It?
For Costco members, the Costco Anywhere Visa® Card undeniably deserves a spot in your wallet if you drive a lot, dine out routinely, and maximize Costco shopping trips throughout the year.
With exclusive member-only perks and category bonuses aligning closely with typical Costco purchases, this card goes hand-in-hand with a paid Costco membership.
Occasional Costco shoppers may find better perks or welcome offers with other general cash back or travel rewards credit cards.
In all, the Costco Anywhere Visa® Card by Citi presents an excellent opportunity to unlock additional value from an existing Costco membership. Costco devotees will appreciate the custom-tailored rewards and discounts that amplify their bulk-buying efforts.