Costco Anywhere Visa Card by Citi Review: More Details
If you regularly shop for deals at Costco, you could potentially get even more value from your membership – and put some money back into your pocket – by using a co-branded store card to pay for your Costco purchases. Capitalizing on Costco’s reputation for offering cheaper gas than the average fuel provider, the Costco Anywhere Visa card offers one of the best bonuses you can get on year-round gas purchases. It also offers a strong cash-back bonus on restaurant and travel spending and a decent bonus on other Costco purchases.
This card requires some patience, though, since it only lets you claim your earnings once a year.
Earning cash back
If you spend a lot on gas each month, you should get a pretty good return from this co-branded store card. You’ll get 4 percent cash back on every dollar you spend filling up your tank or charging your electric vehicle (up to $7,000 per year, then 1%). It doesn’t matter if you’re braving the lines at Costco’s fuel station or at another qualifying station. The only merchants that are excluded are gas stations at another warehouse club, grocery store, superstore or convenience store. Gas also has to be used to fill up a car to qualify for the bonus.
Tip: Though convenience store purchases are technically excluded from the Citi Costco card’s 4 percent gas bonus, most gas stations attached to convenience stores will still earn the bonus, since the Visa network codes these stations as gas stations rather than convenience stores. To see whether a purchase at a particular station qualifies as a gas purchase, you should check the merchant’s MCC code.
See related: FAQs on Costco Anywhere Visa Card by Citi
Citi caps bonus spending for gas purchases at $7,000 a year. But that still gives you just over $580 a month to earn 4 percent per dollar spent – allowing you to collect up to $280 every year.
You’ll also get 3 percent cash back on dining (including fast food and sit down restaurants, bars, lounges and cafes) and select travel purchases, such as airfare, hotel bookings, car rental charges, travel agent expenses, cruise bookings and purchases you make on CostcoTravel.com.
In addition, you’ll get 2 percent cash back on purchases you make at Costco and Costco.com and 1 percent cash back on everything else.
The wide variety of bonus opportunities makes the Costco Anywhere Visa a good card for everyday purchases. We estimate that you’ll earn roughly 1.91 cents for every dollar that you spend. That’s significantly more generous than other popular cash back cards, such as the Blue Cash Everyday®Card from American Express and the Bank of America® Customized Cash Rewards credit card – both of which earn, on average, just over 1.60 cents per dollar spent. In fact, one of the only cards without an annual fee that beats the Costco card’s earning rate is the Citi® Double Cash Card, which gives cardholders 2 cents back for every dollar that’s charged — 1 cent when you make a purchase and 1 cent when you pay your bill on time.
See related:Best fixed bonus category cash back cards
No sign-up bonus
The Costco card doesn’t offer a sign-up bonus, though. So if you’re looking for a quick cash infusion, you’d be better off looking at another gas card, such as the Wells Fargo Propel American Express® card* or the Bank of America Customized Cash Rewards credit card – both of which offer generous bonuses to brand-new cardholders.
Costco membership fee
The Costco Anywhere Visa doesn’t technically charge an annual fee. However, you will have to pay a yearly $60 fee to Costco to remain a member. If you upgrade to executive status, your yearly membership will cost $120.
Redeeming cash back
The biggest downside to the Costco Anywhere Visa is its highly restrictive redemption policy, which makes it a pain to redeem the cash you earned. Rather than allow you to claim your cash whenever you’re ready for it (as most issuers do), Costco makes you wait until the end of February for an annual rewards certificate. The certificate only covers the cash you earned the previous year (between January and December), so you’ll have to wait another year to claim whatever cash you earned in January and February, just before your certificate was issued. You will then have until December 31 of that year to redeem your one-time certificate at your local Costco for cash or merchandise. If you fail to claim your cash before the December 31 deadline (or if your Costco membership expires before you’ve presented your certificate), you’ll lose your rewards altogether.
Costco’s restrictive policy essentially forces you to maintain your membership indefinitely in order to redeem everything you’ve earned. So you may want to think twice about this card if you don’t plan on staying a Costco shopper forever.
No foreign transaction fee
Despite its restrictive redemption policies, the Costco Anywhere Visa is still an unusually generous card for everyday purchases. Unlike many of its cash back competitors, for example, it doesn’t charge a foreign transaction fee, allowing you to freely use your card abroad. Foreign transaction fees have become all-but-extinct on travel rewards credit cards. However, many cash back cards still charge a small fee for international purchases.
Other benefits
The Costco Anywhere Visa also offers some pretty good benefits for a cash back card, including:
- Purchase protection. You may be reimbursed if your purchases are stolen or damaged within three to four months after you bought them.
However, Citi has stopped advertising other valuable travel protections, such as travel accident insurance, rental car insurance and trip interruption and cancellation insurance. You may want to use a travel card with more robust protections when you’re purchasing airfare or making other big ticket travel purchases.
Alternatives for Costco purchases
The Costco Anywhere Visa’s 2 percent cash back rate for Costco purchases is pretty good for a (technically) no annual fee card. But if you don’t want to wait to receive your cash each year – or commit to an ongoing membership – there are some good alternatives that offer a similar return. For example:
- The Citi Double Cash card offers up to 2 cents back for every dollar that you spend — 1 cent when you make a purchase and another 1 cent when you pay your bill on time — including at Costco.
- Other flat rate cards, such as the American Express Cash Magnet® Card*, offer a slightly lower rewards rate of 1.5 percent back on every purchase. But since you can transfer your points to other airline loyalty programs when you own certain Chase premium cards (thus increasing their value), you may actually be able to get a higher rate of return with the Chase Freedom Unlimited card.
- You may also be able to temporarily get 5 percent cash back on up to $1,500 worth of Costco purchases using a card with a rotating bonus category. These types of cards often include warehouse purchases as a quarterly bonus category. However, categories change every year, so you can’t count on the bonus returning.
Approval odds
Unlike many store cards that don’t require excellent credit, you’ll need a pretty good credit score to get approved for the Costco Anywhere Visa. CreditCards.com, for example, estimates that you would need a score of at least 740 to feel confident about your odds.
Customer service
Citi has a fairly good reputation for customer service. J.D. Power, for example, ranked Citi sixth for customer satisfaction in its Credit Card Satisfaction Study. Citi customers who log in to their online accounts can chat directly with customer service or they can call a customer service line for 24/7 support. The Citi mobile app also has pretty good online reviews. However, customers do complain about frequent mandatory updates and occasional glitches.
How does it compare to other cash back cards?
With an earning rate of nearly 2 cents for every dollar you spend, the Costco Anywhere Visa stands out as one of the most lucrative no annual fee cash back cards on the market. But unlike many of its competitors, the Costco Anywhere card doesn’t offer a promotional APR. It also doesn’t offer as much flexibility.
 Bank of America® Customized Cash Rewards credit card |  Chase Freedom Unlimited®* |  Discover it® chrome |
Rewards rate
| Rewards rate
| Rewards rate
|
| Sign-up bonus $200 if you spend $1,000 in the first 90 days | Sign-up bonus Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) – worth up to $300 cash back | Sign-up bonus 100% match of your first year’s total earnings |
| Annual fee $0 | Annual fee $0 | Annual fee $0 |
Other things to know
| Other things to know
| Other things to know
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Bank of America Customized Cash Rewards credit card
Like the Costco card, the Bank of America Customized Cash Rewards card offers 2 percent cash back at grocery stores and wholesale clubs. It also offers 3 percent cash back on the category of your choice, including gas.
But unlike the Costco card, the Bank of America Customized Cash Rewards card sharply limits how much you can earn. You can only get 2 to 3 percent cash back on a combined $2,500 in purchases per quarter — limiting you to a maximum of $300 worth of bonus earnings per year. The Costco card, by contrast, limits bonus earnings on gas to $280 per year and doesn’t limit bonus earnings on Costco at all.
Chase Freedom Unlimited card
The Chase Freedom Unlimited card lacks the Costco card’s bonus rate on gas purchases, but matches its rate on dining purchases and can beat its rate on travel purchases if you book through the Chase Ultimate Rewards portal. You’ll also get at least 1.5% cash back on all other purchases, regardless of what you buy.
Discover it chrome
The Discover it chrome doesn’t offer the flashiest spending bonus: you’ll get just 2 percent cash back on gas and restaurant spending (on up to $1,000 in purchases per quarter) and 1 percent cash back on everything else. But Discover’s Cash Back match makes it a lot more attractive in the first year. Since Discover will match 100 percent of your earnings, you’ll essentially get 4 percent cash back on restaurants and gas. Discover limits bonus spending to $1,000 per quarter, though, so the most you could earn through bonuses alone would be $160 in your first year.
Who should get the Costco Visa card?
- You’re a Costco member (or plan to become one) and don’t plan on canceling your membership anytime soon.
- You’re a car owner and are looking for a gas card.
- You don’t mind waiting for your rewards certificate or driving to Costco to redeem it.
How to use the Costco Visa card?
- Use this card for all your gas and EV charging purchases so that you can get up to 4 percent cash back on your first $7,000 in purchases and then 1% thereafter. However, be aware that some gas stations, such as gas stations tied to convenience or grocery stores, are excluded from the bonus.
- Book travel and pay your bar and restaurant tabs with the Costco card in order to get 3 percent cash back. However, use a different travel card for everyday travel purchases, such as tolls and public transportation, since those don’t count toward the bonus.
- Bring this card with you when you shop at Costco in order to get a 2 percent bonus on your purchases.
- Redeem your rewards certificate on your next Costco shopping trip: You can pay for your merchandise with the certificate and receive cash back for any earnings that remain.
Is the Costco Visa card worth it?
If you’re a regular Costco shopper and don’t mind driving to your local Costco to pick up your annual rewards certificate, then the Costco Anywhere Visa is a great card. But if there’s a chance you’ll cancel your membership within the next few years, it may not be worth the risk of losing all or some of your rewards.
*All information about Wells Fargo Propel American Express card, Chase Freedom Unlimited® and American Express Cash Magnet® Card has been collected independently by CreditCards.com and has not been reviewed by the issuer. The Wells Fargo Propel American Express is no longer available.
Our reviews and best card recommendations are based on an objective rating process and are not driven by advertising dollars. However, we do receive compensation when you click on links to products from our partners. Learn more about our advertising policy
All reviews are prepared by CreditCards.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank’s website for the most current information.
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FAQs
What credit score do you need for Costco Anywhere visa? ›
What credit score is required for the Costco Anywhere Visa® Card? Applicants need to have excellent credit to qualify for the Costco Anywhere Visa® Card. The exact credit score required varies, but a very good credit score ranges from 740 to 799 and excellent credit is 800 and higher, according to Experian.
Is it hard to get a Costco Anywhere Visa card? ›Yes, it is hard to get the Costco Anywhere Visa® Card by Citi because applicants need to have excellent credit for approval. So, unless your credit score is 750 or higher and you have a lot of income, it will be difficult for you to get approved for the Costco Credit Card.
What is the limit on Costco Anywhere Visa card? ›The starting Costco Credit Card credit limit is $500, at a minimum. More specifically, everyone who gets approved for this card is guaranteed this limit. However, depending on your credit standing, you could get a much higher credit line.
How does the Costco Anywhere visa work? ›A Costco member can use the Costco Anywhere Visa card by Citi to earn 4% cash back on eligible gas and EV charging purchases for the first $7,000 per year, then 1% thereafter, 3% cash back on restaurants and eligible travel purchases, 2% cash back on all other purchases from Costco and Costco.com and 1% cash back on ...
Does Costco visa do a hard pull? ›Editorial and user-generated content is not provided, reviewed or endorsed by any company. Yes, the Citi Costco will do a hard pull. You will need a credit score of at least 700 to get it and there is no way to get pre-approved. A hard pull usually causes an applicant's credit score to drop by 5-10 points.
What is the lowest credit score you can have to get a Costco credit card? ›The Costco Credit Card credit score requirement is 750 or higher, which means applicants with excellent credit should have good odds of approval.
How do I get approved for a Costco Visa card? ›- Excellent credit (a credit score of 750+)
- Enough income to pay your credit card bills.
- Low debt relative to income.
- Low housing costs relative to income.
- U.S. mailing address.
- Age of 18+
- Social Security Number.
The business version of the Costco card is nearly identical to the personal Costco Anywhere Visa® Card by Citi*. They offer the same rewards structure and redemption limitations. The main difference is that the personal version of the card allows balance transfers and the business card does not.
What bank does Costco Visa use? ›The Costco Anywhere Visa® Card by Citi is exclusively for Costco members. If you do not already have a Costco membership, you can purchase one at Costco.com, prior to applying for the credit card.
Is Costco card worth it? ›Is the $120 Costco membership worth it? The Executive Costco membership is only worth it if you plan on shopping at Costco often and using additional perks. If you don't shop at Costco at least monthly, you may not save enough to justify the $120 annual fee.
Should I have 3 credit cards? ›
It's generally recommended that you have two to three credit card accounts at a time, in addition to other types of credit. Remember that your total available credit and your debt to credit ratio can impact your credit scores. If you have more than three credit cards, it may be hard to keep track of monthly payments.
Does Citi give high credit limits? ›Does Citi Offer High Credit Limits? Like many card issuers, Citi will typically offer a high credit limit to those with an excellent credit score and steady income.
Is Costco Visa card good for travel? ›You can use this card to pay for international purchases or when traveling outside the U.S. at no extra charge. This card is also widely accepted, making it a great option if you travel and want a cost-effective card. If you are a Costco member, you do not need to pay any fee for the Citi Costco Anywhere Visa card.
What percentage do you get back with Costco Visa card? ›Cash back rewards
4% on eligible gas and EV charging for the first $7,000 per year and then 1% thereafter. 3% on restaurants and eligible travel. 2% on all other purchases from Costco and Costco.com. 1% on all other purchases.
The Costco Anywhere Visa® Card by Citi can help frequent Costco shoppers save with its high earning rates on shopping trips and other everyday purchases, like gas and dining. Since it has a $0 annual fee, it costs nothing to start earning rewards.
Why is Costco Visa only? ›The reason Costco only takes Visa ultimately boils down to a deal it negotiated with the card issuer so that it can pay lower merchant fees, and hopefully pass those savings on to customers. Keep in mind that the Visa-only restriction only applies to credit cards — Costco accepts most PIN-based ATM/debit cards.
How long does it take to get a Visa card from Costco? ›You'll first need a Costco membership, but that usually doesn't take more than a few minutes to sign up for. Once approved, the card should arrive in seven to 14 business days.
What is a good credit score? ›Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.
What is Costco FICO score? ›Bottom line. To get approved for the Costco Anywhere Visa® Card by Citi you'll typically need a FICO® score of 800 or higher. This cash-back card doesn't have an annual fee, but you'll need a Costco membership to apply. There are two levels of Costco membership which cost $60 or $120.
What credit card Cannot be used at Costco? ›Costco Warehouses and gas stations do not currently accept cards from any network other than Visa. This means Costco Members shopping in-store cannot pay with American Express, Mastercard or Discover—nor any other non-Visa credit card.
Does applying for credit card hurt credit? ›
When you apply for a new card, the credit company may perform a hard pull of your credit report for review as part of the approval process. The inquiry on your credit history may lower your score but generally the impact is low on your FICO score (for most, this means fewer than 5 points).
Is Costco Visa exclusive? ›U.S. Costco warehouse locations accept: All Visa Cards. The Costco Anywhere Visa® Card by Citi. Most PIN-based Debit/ATM Cards.
How do I pay my Costco Visa? ›The easiest way you can make a Costco Credit Card payment is either online, or by calling customer service at (855) 378-6467. Alternatively, you can make a payment through the mobile app or via mail.
How hard is it to get a Sam's Club credit card? ›The credit score needed for the Sam's Club® Credit Card is at least 700. That's in the “good” credit range but barely meeting a card's minimum requirements is far from the ticket to high approval odds. You'll need income to make your payments, and the issuer will look at several other factors, too.
Can I use Costco business card for gas? ›Yes. The Costco Anywhere Visa® Business Card by Citi supplies cardmembers with the following travel benefits: 4% cash back on eligible gas and EV charging worldwide, including gas at Costco, for the first $7,000 per year and then 1% thereafter.
Can I use Costco credit card right away? ›You can use a Costco Anywhere Visa® Card by Citi immediately after approval if you apply at a Costco store and get approved instantly. Following in-store approval, you can request a temporary card at the service desk, and you can use the card at Costco locations until your new card arrives.
Can you have a Costco credit card without an executive membership? ›4. You have to be a Costco member. While the card itself has no annual fee, cardholders must have a paid Costco membership, which starts at $60 for Gold Star and Business levels, then doubles in price to $120 for Gold Star Executive and Business Executive members.
Can I use my Costco Visa at an ATM? ›All Visa cardholders can access surcharge-free ATMs at any Costco within the U.S., except Hawaii and Puerto Rico.
Which Costco card is best? ›The bottom line
I recommend giving the Gold Star membership a try. You can get a full refund if it isn't worth it. If you find you love shopping at Costco and are spending more than $250 per month, you can upgrade to the Executive membership right away for a prorated fee.
“The Costco Executive Membership is worth the money for every Costco customer,” he said. “The main benefit of the membership is it provides a 2% reward on all Costco purchases.” Depending on your spending habits, he said you might be able to earn enough rewards to cancel out the membership cost.
What are the cons of Costco? ›
- Warehouse items aren't available online. ...
- Prices might be higher on the website. ...
- There's no price matching. ...
- Frozen items have additional fees. ...
- Shipping is not free. ...
- Some items can't be shipped. ...
- There's a surcharge for non-members.
A good guideline is the 30% rule: Use no more than 30% of your credit limit to keep your debt-to-credit ratio strong. Staying under 10% is even better. In a real-life budget, the 30% rule works like this: If you have a card with a $1,000 credit limit, it's best not to have more than a $300 balance at any time.
Is 20 credit cards too many? ›There's no such thing as a bad number of credit cards to have, but having more cards than you can successfully manage may do more harm than good. On the positive side, having different cards can prevent you from overspending on a single card—and help you save money, earn rewards, and lower your credit utilization.
Is 11 credit cards too many? ›There is no universal number of credit cards that is “too many.” Your credit score won't tank once you hit a certain number. In reality, the point of “too many” credit cards is when you're losing money on annual fees or having trouble keeping up with bills — and that varies from person to person.
What is an excellent credit limit? ›A good credit limit is above $30,000, as that is the average credit card limit, according to Experian. To get a credit limit this high, you typically need an excellent credit score, a high income and little to no existing debt.
What is considered a very high credit limit? ›A high-limit credit card typically comes with a credit line between $5,000 to $10,000 (and some even go beyond $10,000). You're more likely to have a higher credit limit if you have good or excellent credit.
What is a normal credit limit? ›What is considered a “normal” credit limit among most Americans? The average American had access to $30,233 in credit across all of their credit cards in 2021, according to Experian. But the average credit card balance was $5,221 — well below the average credit limit.
Is Costco Citi card metal? ›The Costco Anywhere Visa® Card by Citi is not a metal credit card, as it is made of plastic like most other credit cards. There's no functional difference between a plastic card like the Costco Credit Card and a metal credit card, though, so don't dismiss the Costco Credit Card just because it isn't metal.
Can I use my Costco Citi card at an ATM? ›The Costco Anywhere Visa® Card by Citi cash advance fee is 5% (min $10) per transaction, whichever is higher. A cash advance fee is charged when using the Costco Credit Card for cash withdrawals at an ATM, or in person at participating locations.
Can you fly with a Costco card? ›Costco Membership
It is a photo ID, and can help you get through a TSA check. Just when you thought that the $60 you pay at Costco every year couldn't get any better, the bulk retailer offers a new surprise. Costco is a reputed name, and everyone has heard of its membership program.
Why did Costco charge me $120? ›
If you see a charge from Costco on your Visa® card or Mastercard® for approximately $60 or $120 around the first or second day of the month, it's most likely the automatic renewal of your Costco membership.
How much do you have to spend at Costco to make the executive card worth it? ›How much you'd need to spend to make Costco Executive Membership worthwhile. In order to receive $60 in reward dollars and recoup the $60 more that an Executive Membership costs, one must spend $3,000 over the course of the year at Costco on eligible purchases, an average of $250 a month.
Can I pay my Costco Citi credit card at Costco? ›No, you cannot pay your Costco Credit Card at Costco. The card's payments must be made directly to the issuer. But there are several other ways to make Costco Credit Card payments, including online and by phone.
Is Costco anywhere Visa hard to get? ›Yes, it is hard to get the Costco Anywhere Visa® Card by Citi because applicants need to have excellent credit for approval. So, unless your credit score is 750 or higher and you have a lot of income, it will be difficult for you to get approved for the Costco Credit Card.
How does the Costco Anywhere Visa work? ›A Costco member can use the Costco Anywhere Visa card by Citi to earn 4% cash back on eligible gas and EV charging purchases for the first $7,000 per year, then 1% thereafter, 3% cash back on restaurants and eligible travel purchases, 2% cash back on all other purchases from Costco and Costco.com and 1% cash back on ...
What credit score do you need for a Sam's Club credit card? ›The credit score needed for the Sam's Club® Credit Card is at least 700. That's in the “good” credit range but barely meeting a card's minimum requirements is far from the ticket to high approval odds. You'll need income to make your payments, and the issuer will look at several other factors, too.
How long does Costco card approval take? ›How Long Does It Take to Get a Costco Card? You may receive approval in seconds after applying for a Costco credit card. You'll first need a Costco membership, but that usually doesn't take more than a few minutes to sign up for. Once approved, the card should arrive in seven to 14 business days.
Why is Costco visa only? ›The reason Costco only takes Visa ultimately boils down to a deal it negotiated with the card issuer so that it can pay lower merchant fees, and hopefully pass those savings on to customers. Keep in mind that the Visa-only restriction only applies to credit cards — Costco accepts most PIN-based ATM/debit cards.
Is it beneficial to get a Costco credit card? ›The Costco Anywhere Visa® Card by Citi* lets you earn rewards on all of these purchases and more. We like that this card offers some of the best gas rewards rates on the market, along with strong rewards rates on restaurants, eligible travel and Costco spending.
Is synchrony bank hard to get? ›While Synchrony does not have a “Shopping Cart Trick” like Comenity Bank credit cards to make approvals much easier, they are still considered a bank that is more likely to approve applicants.
What is the highest limit on Sam's Club credit card? ›
The credit limit for the Sam's Club Credit Card typically ranges from $1,000 to $10,000, although reports indicate it's possible to get higher limits. Your credit limit on your Sam's Club Credit Card is determined by multiple factors, including your annual income and credit history.
Can I use my Sams credit card at Walmart? ›The Sam's Club Credit Card is designed to be used as a store card for purchases at Sam's Club and Walmart. The Sam's Club Mastercard can be used as a more general payment card and is accepted wherever Mastercard is.
Is it worth to get a Costco card $120? ›“The Costco Executive Membership is worth the money for every Costco customer,” he said. “The main benefit of the membership is it provides a 2% reward on all Costco purchases.” Depending on your spending habits, he said you might be able to earn enough rewards to cancel out the membership cost.