The Costco Anywhere Visa Card by Citi Review
January 15, 2020
Get rewarded with the Costco Anywhere Visa Card by Citi
The Costco Anywhere Visa Card by Citi is a cash back card that offers bonus cash back when you spend at Costco gas stations or make purchases in Costco stores or at Costco.com. Backed by Citi’s reputation for reliability and Visa’s broad acceptance worldwide, the Costco Anywhere Visa Card makes it possible to earn and redeem cash when and how you want — while also giving you extra benefits for shopping at Costco.
If you like cash back cards that offer multiple bonus tiers for different spending types and make regular purchases in-store or online from Costco, this card may feel right at home in your wallet.
What to expect from the Costco Anywhere Visa Card by Citi
- APR: 16.74%, variable with prime rate. This puts it on par with most major credit cards and below the standard APR for other retail-branded offerings.
- Annual Fee: No annual fee if you have a valid Costco membership.
- Reward Rates: 4% cash back on eligible gas purchases — including Costco gas — for the first $7,000 spent per year and 1% thereafter, along with 3% on eligible dining and travel purchases worldwide, 2% on all purchases from Costco and Costco.com and 1% on all other purchases.
- Intro Offer: No introductory offer.
- No foreign transaction fees: Travel where and when you want without worrying about extra fees for using your Costco Anywhere Visa Card.
- Redeem rewards your way: Get a credit card reward certificate after your February billing statement closes and redeem it for cash or merchandise at any U.S. Costco warehouse.
- Use your card as a membership: Don’t worry about carrying around your Costco card — your Costco Anywhere Visa serves as your membership identification at any U.S. Costco store, giving you one less thing to worry about.
- Damage and theft protection: Shop with confidence thanks to Citi’s damage and theft protection. Enjoy coverage for repairs or a refund if purchases made with your Citi card are damaged or stolen within 120 days (90 days in New York).
- Enjoy extended warranty: Extended warranties on big-ticket items are often expensive and not worth the cost — unless something happens and you’re on the hook for the bill. The Costco Anywhere Visa Card automatically extends the manufacturer’s warranty so you can feel confident that your new purchases enjoy maximum protection.
But keep your eyes open for pitfalls
While the Costco Anywhere Visa Card by Citi offers great benefits for Costco members, there are potential pitfalls. First, it’s worth noting that non-qualifying gas purchases at superstores, supermarkets, convenience stores and warehouse clubs other than Costco only earn 1% cash back. In addition, the 4% cash back only applies to the first $7,000 you spend on gas at Costco gas stations each year. This also applies to non-qualifying restaurant purchases — you’ll only earn 1% cash back for purchases made at bakeries and certain cafes or restaurants inside department stores, grocery stores and warehouse clubs. Last but not least? Non-qualifying travel purchases. Spending at timeshares, campgrounds, bed and breakfasts and commuter train travel only earns 1% cash back.
This card also comes with purchase limitations. Some types of spending don’t qualify as purchases and don’t earn cash back. These include cash advances, travelers checks, lottery tickets and items returned for credit. In addition, the card only delivers rewards as Costco cash, and your rewards certificate must be redeemed at a Costco location for merchandise or cash. At Costco’s discretion, requests for cash may be paid as physical cash, check or e-transfer. Any cash not used by December 31 of the year in which it was issued is forfeit. Finally, account closure means you will no longer earn Costco cash rewards and will forfeit any earned rewards.
If you enjoy retail-linked reward cards but don’t shop enough at Costco to make the Anywhere Visa Card worth it, consider alternatives like the Amazon Rewards Visa Signature Card, which offers 3% back in points on all Amazon.com purchases — or 5% if you’re an Amazon prime member.
If straightforward cash back is your preference, the Citi Double Cash Card has you covered. Earn unlimited 1% cash back on all purchases and another 1% cash back when you pay for those purchases. Plus, enjoy 0% APR on balance transfers for the first 18 months.
How to maximize your Costco Anywhere Visa Card Rewards
Getting the most from your Costco Anywhere Visa Card by Citi means making sure you’re using the card at Costco gas stations and warehouses across the United States whenever possible. It’s also critical to consider how you’re going to spend your cash back reward certificate at Costco — if you hold off hoping to find exactly the right item or the best deal, your certificate may expire. For regular Costco shoppers, however, the extra cash back earned from making weekly grocery runs, filling up with gas and buying big-ticket items is more than enough to make this card a mainstay — especially since you’ll get 1% cash back no matter where you shop.
If you’re an avid Costco shopper looking to get rewarded for regular spending and big purchases as this big-box warehouse, the Costco Anywhere Visa Card by Citi makes it easy to earn cash back all year long.
If you like rewards but want to skip the store, consider an option like the Amazon Rewards Visa Signature Card to earn points from the comfort of your own home. If you’d rather get cash back directly, choose the Citi Double Cash card and get paid twice — once when you purchase and again when you pay off those purchases.