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Can I Use Costco Credit Card Anywhere

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Here’s What You Need To Know About The Costco Anywhere Visa Card Rewards Program And How To Redeem Costco Credit Card Rewards

Costco Anywhere Visa Credit Card Review 2021 – Is the Costco credit card for you?

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The Costco Anywhere Visa® Card by Citi is one of the best credit cards for shopping at Costco, but there are restrictions on how you receive rewards and the redemption options. Unlike many rewards cards, cardholders don’t have the option to redeem rewards at any time for any amount. Instead you have to wait until each February to redeem the rewards you’ve earned over the previous year.

Below, CNBC Select has everything you need to know about the Costco Anywhere Visa® Card rewards program.

  • How Costco Anywhere Visa® Card rewards work
  • How to redeem Costco credit card rewards
  • Costco credit card reward certificate FAQs

Travel And Emergency Assistance

The Costco Anywhere Visa® Card by Citi provides 24/7 emergency assistance for things like travel arrangements, medical referrals, legal issues, etc. While the information will be free, you’ll still have to pay for the services once requested.

Family members and traveling companions are eligible to use this benefit even if you’re not traveling with them.

How Can I Estimate My Costco Cash Rewards From Citi

There is no limit to how many rewards you can earn with the Costco Anywhere Visa® Card. To estimate your Costco cash rewards, visit citi.com/costcorewards and use the sliding scale to enter how much you spend per category each month. As you update each category, it will automatically calculate the annual cash back at the bottom.

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Review: Is The Costco Anywhere Visa The Best Credit Card For You

The Costco Anywhere Visa® Card by Citi offers generous cash-back rewards in several spending categories, including Costco purchases. But where the card really stands out is for the rewards it offers on gas purchases worldwide.

If you’re someone who drives long distances or commutes to work, this card could be an excellent choice for your wallet for that reason alone. You’ll earn 4% cash back on eligible gas purchases worldwide on up to $7,000 in spending per year .

You’ll also earn 3% cash back on all restaurants and eligible travel, 2% back on Costco purchases, and 1% back on everything else. Note that the card has no annual fee, but you’ll need an active Costco membership to qualify for the card.

Read more: The best credit cards for Costco shopping of 2022

While the ongoing rewards you earn with this card can be quite lucrative, the fact that there’s no sign-up bonus is a downside, as is the limitation on how you can use your rewards you’ll only receive your rewards once per year, in the form of a certificate you can redeem for cash back or merchandise at Costco.

Because of this, you should also consider one of the best cash-back credit cards before you decide on the Costco Anywhere Visa® Card by Citi. For example, the Citi® Double Cash Card effectively earns 2% cash back on all purchases and the rewards are much more flexible to redeem.

How The Costco Anywhere Visa Compares To Other Cash Back Cards

Credit Card Review: Costco Anywhere Visa® Card by Citi

The Costco cards bonus categories are competitive across the board compared to other cash back cards with no annual fee. It can be hard to find a single credit card that offers rewards on gas, dining, travel and wholesale clubs at this level.

However, the Costco cards Achilles heel is its lackluster benefits and lower rewards rate on actual Costco purchases. Granted, many cards dont earn cash back at wholesale clubs, and the typical flat-rate card offers 1.5 percent back. But its common for retail cards to offer up to 5 percent back at their storeincluding the previously mentioned Capital One Walmart Rewards and Amazon credit cards.

The closest competition when it comes to consistent wholesale club cash back would have to be the Bank of America® Customized Cash Rewards credit card. It earns 3 percent cash back in a choice category that can be changed monthlyincluding travel, gas and diningand 2 percent back at wholesale clubs and grocery stores .

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Is The Costco Credit Card Right For You

If you do a lot of your shopping at Costco, then this card can help you save. Just make sure you pay close attention to all of the redemption rules so that you can actually reap the rewards you earn.

For someone who spends a lot at Costco, one redemption per year might not be a hindrance. For instance, if you like to stock up at the wholesale club only a few times each year, you can easily put those rewards toward your next haul. And Costco does offer high-value items that you could save up your annual rewards for: new tires, jewelry, appliances, and more.

But if you dont want to sit on your cash rewards all year, or want more redemption options, then there may be better cards out there. This is especially true if youre considering the Costco card solely for its 2% cash back rate at Costco the right cash back credit card can offer the same rewards with more redemption flexibility. The Citi® Double Cash Card*, for example, offers up to 2% cash back on every purchase you make , including at Costco, and the Chase Freedom Unlimited® offers at least 1.5% cash back on purchases, in addition to higher rewards in specific categories.

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Do Costco Accept Credit Cards

Shoppers dont have the ability to use credit cards with the other three major networks, American Express, Mastercard, or Discover, at Costco warehouses since Costco and Visa are both partnered. When paying by Mastercard or Discover cards at Costco, youre allowed to use both cards. Costco.com and Costcos app allow you to store coupons online.

Costco Anywhere Visa Card By Citi

Costco Anywhere Credit Card Review- Waller’s Wallet

Rewards rate

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

Annual fee

Intro offer is not available to this Citi credit card

Regular APR

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

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What Is The Easiest Way For Me To Find Information About The Rewards I’ve Earned And The Details About My Credit Card Reward Certificate

The easiest way to find information about the rewards you’ve earned and the details about your credit card reward certificate is to visit Citi® Online or the Citi Mobile® App. After logging in online, click “View Your Reward & Certification Information” to see how much cashback you’ve earned to date based on your last statement earnings.

Read More Costco Anywhere Visa Card By Citi Faqs

How do you apply for the Costco Anywhere Visa® Card by Citi?

The application process for the Costco Anywhere Visa® Card by Citi is easy and straightforward. If you’re not already a Costco member, you can apply for a Costco membership here. Once you are a Costco member, you can

Is there a Costco Visa® Card by Citi for small businesses?

Yes, the Costco Anywhere Visa® Business Card by Citi is designed specifically for small business use. If you’re not already a Costco member, you can apply for a Costco membership here. Once you are a Costco member, you can learn more and apply online for the Costco Anywhere Visa® Business Card by Citi.

Do you need a Costco membership to get the Costco Anywhere Visa® Card by Citi?

Yes, 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.

Can I use my Costco credit card by Citi as proof of Costco membership?

Yes, your Costco Anywhere Visa® Card by Citi can act as your Costco membership ID while you are a cardmember.

Does the Costco Anywhere Visa® Card by Citi have an annual fee?

No. There is no annual fee1 for the Costco Anywhere Visa® Card by Citi with your paid Costco membership. on our website.

What is the interest rate on the Costco Anywhere Visa® Card by Citi?

With the Costco Anywhere Visa® Card by Citi, the standard APR for the following will vary with the market, based on the Prime Rate1:

  • Purchases
  • Balance transfers
  • Cash advances

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No Hassle With Rental Cars

Rental car companies are notorious for charging hidden fees and adding extra insurance that you dont typically need. One of the perks with the Costco Anywhere Visa is that you dont have to pay for the rental car prior to the trip. If there is a rate drop, you can easily change your reservation.

Also, there is no additional charge for adding another driver to the agreement, a perk that doesnt come with every car rental contract. This option worked out for us because both my husband and I like to drive during our vacations. When I checked what it would cost to rent a car without the Costco Anywhere Visa, the price was almost 20% more and only one authorized driver was part of the contract.

Costco Purchases Don’t Earn The Highest Cash

Costco Gas Credit Card / Costco Anywhere Visa by Citi ...

Though this card is co-branded with Costco, purchases at the store don’t earn the highest amount of cash back. You earn 2% cash back on purchases from Costco and Costco.com.

While this may seem rather low, if you frequently shop at Costco for groceries, it can still help you maximize your savings. Many rewards cards that offer bonus rewards at supermarkets exclude purchases at big box stores like Costco, so while you can earn 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases with the Blue Cash Preferred® Card from American Express, that doesn’t apply to Costco purchases.

The Costco Anywhere Visa® Card is still one of your best options for Costco purchases with 2% cash back.

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Who Should Get The Costco Anywhere Visa Card

The Costco Anywhere Visa is perfect for loyal Costco customers. You must be a Costco member to apply for this card, so already having ties to the wholesale club makes sense. Plus, you can justify your club membership fee by earning valuable rewards on gas, restaurant, and travel purchases. Its also one of the few .

This card is also a logical choice for frequent travelers. Besides earning 3% cash back for eligible restaurant and travel purchases, this Costco credit card offers plenty of additional perks that rival many travel rewards credit cards. Its also a solid choice for international travel.

People looking for a versatile credit rewards program need not apply. Despite its rewards-earning potential, the Costco Anywhere Visa has one of the most restrictive rewards programs around. If you dont care to use your cashback rewards specifically for Costco purchases, you should look at other rewards instead.

In order to qualify for the Costco Anywhere Visa, youll need excellent credit. If you dont meet the credit requirement, its better to look for a rewards credit card that matches your current credit situation.

Pros & Cons Explained

It is important to understand the pros and cons of the Citi Costco Anywhere Visa Card and how they will affect the value of the card in addition to your user experience. Before you sign up for this card, here are some of the pros and cons you need to consider.

Pros

  • Description
  • High rewards ratesThe 4% rewards rate for gas purchases worldwide is one of the best in the market, making the Citi Costco Anywhere Visa Card ideal for people who spend a lot on gas. This card also has generous rewards rates of 3% for travel and dining, which rivals some of the most popular travel cards in the market.
  • No foreign transaction feesYou 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.
  • No annual feeIf you are a Costco member, you do not need to pay any fee for the Citi Costco Anywhere Visa card. This means you get great value because there are no annual costs eating into your rewards.

Cons

Consider comparing the Citi Costco Anywhere Visa Card with the best rewards credit cards. This can help you find out which cards offer the most value for different spending categories.

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How To Increase Your Chances Of Getting Approved For The Costco Anywhere Visa Card

Getting approved for a credit card requires a little planning. Most credit card offers require very good credit. So when applying for new credit, its essential to know your credit scores and whats on your credit reports.

Citi wants to see a strong credit history, steady income, and low credit utilization. If youre using too much of your existing revolving credit, its a sign that you may not pay them back. Youll also want to make sure you havent applied for too much credit in the recent past. Having too many credit inquiries can lessen your chances of getting approved.

Alternatives To The Costco Anywhere Visa

Costco Anywhere Visa Credit Card Review

Even though youre earning a solid return across multiple categories with the Costco Anywhere Visa, that doesnt make it the right card for everyone. If you arent shopping at Costco regularly, or if you are looking for a card that earns rewards you can use throughout the year, you may want to look at other credit card options.

If youre looking for one of the best cash back cards that earns on gas in the U.S. and groceries at U.S. supermarkets, the Blue Cash Preferred® Card from American Express is another excellent option. Youll earn 6% back at U.S. supermarkets and on select U.S. streaming services , and 3% on transit and on gas at U.S. gas stations with a $0 intro annual fee for the first year, then $95 after . Cash back is received in the form of reward dollars that can be redeemed for statement credits.

Many cards have added additional earning opportunities for grocery store purchases for those who also spend outside of popular categories, such as travel and dining. For example, Amex added a supermarkets category to a number of its cobranded travel cards and Chase added a grocery bonus category to many of its cards. While Costco specifically wont earn bonus rewards with either the Amex or Chase cards, these are potential alternatives if you arent loyal to Costco.

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Maximize The Savings On Your Next Wholesale Purchase

Costco is one of Americas top wholesale merchants, known for its huge stores with huge packages of many types of wares, wines, and foods. To shop there, you must become a member, which costs at least $60 a year. If youd like to pay with a credit card, it must be one that works on the Visa network.

You can use the Costco co-branded cards, but as we point out in this review, you have other choices that are more flexible and at least as rewarding. Consider how much shopping you do at Costco and how you want to use your rewards. One of the cards in this review should perfectly match your preferences.

Alternatives To The Costco Anywhere Visa Card By Citi: Other Visa Cards

If the Costco Anywhere Visa® Card by Citi doesn’t appeal to you but you still want a credit card to use at Costco, keep in mind that your choices are limited to cards on the Visa payment network. Costco accepts only Visa credit cards, along with cash, checks, debit cards, EBT and Costco Cash cards. Visa cards worth a look:

  • Alliant Cashback Visa® Signature Credit Card: This card earns up to 2.5% cash back on the first $10,000 you spend per billing cycle. To apply for the card, you first must join Alliant Credit Union.

  • Fidelity® Rewards Visa Signature® Card: You need a Fidelity account to reap the rewards on this card. It earns 2% back on every purchase, including at Costco. There’s no annual fee.

  • Chase Freedom Unlimited®: This card pays 5% on travel booked through Chase Ultimate Rewards®, 3% on dining and drugstores and 1.5% cash back on every other purchase and has a $0 annual fee.

For other options, see our list of best credit card offers.

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How To Redeem Costco Anywhere Visa Card Rewards

Redeeming your rewards certificate from the Costco Anywhere Visa® Card is a bit more difficult than receiving it. Once you have the certificate, you can only redeem your rewards at a Costco warehouse in the US or Puerto Rico. Certificates are ineligible for redemption at:

  • Costco.com

  • On the Citi Mobile® App

  • Costco Anywhere Visa® Card account payments

When you are ready to redeem your Costco Anywhere Visa® Card rewards, you can present the printed certificate or show a virtual copy of it at checkout. The certificate barcode should be fully viewable to be scanned at the register.

You can only redeem Costco credit card reward certificates for Costco merchandise or cash. Reward certificates are ineligible for travel purchases or as a statement credit. If you make a purchase that is less than the certificate amount, you get the remaining balance in cash when you check out at Costco.

Your credit card reward certificate expires on December 31 of the year it was issued, which can make redeeming it less of a hassle if you don’t live near a Costco warehouse. If you have to make a trip for redemption, at least you can earn some cashback on your trip purchases by using your Costco Anywhere Visa® Card during your travels.

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