Costco Anywhere Visa Card by Citi Review
The Costco Anywhere Visa Card by Citi offers impressive cash-back rewards, even if you’re not a frequent Costco shopper. With no annual fee (though a paid Costco membership is required), you earn a high 4% back on gas purchases, including at Costco, for up to $7,000 annually. This is one of the best ongoing gas rewards rates available. Additionally, the card offers unlimited 3% cash back on restaurants and travel and 2% back on all other purchases at Costco.
The Citi Costco Cash Back card offers impressive rewards even for those who rarely shop wholesale. With no annual fee (paid Costco membership required), you earn a generous 4% cash back on eligible gas stations, Costco gas, and EV charging purchases, up to $7,000 in gas spending annually (then 1% after that). This is one of the most competitive gas cashback rates available. Additionally, the card rewards you with unlimited cash back in other essential categories: 3% on restaurants and eligible travel and 2% on all Costco purchases.
Quick highlights
- 4% cash back on eligible gas and EV charging purchases up to $7,000 per year, then 1% thereafter.
- 3% cash back on restaurants and eligible travel.
- 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.
- No foreign transaction fees: None
- Annual reward certificate: redeemable for cash or merchandise at U.S. Costco warehouses.
Costco Anywhere Visa Card Rewards
- 4% cash back: This applies to the first $7,000 spent annually on eligible gas and EV charging purchases.
- Unlimited 3% Cash Back
- Restaurants: exclude bakeries, department store restaurants, grocery store restaurants, warehouse club restaurants, and specific other categories.
- Travel: excludes timeshares, campgrounds, bed and breakfasts, train travel, and commuter travel.
- 2% cash back: to all other purchases made at Costco and Costco.com.
- 1% cash back: to all other purchases.
Rate and Fee
Rates
- Purchase:49% variable
- Balance transfer: 49% for balances transferred within 2 months of account opening, plus a fee of $5 or 5% of the amount of each transfer, whichever is greater
- Cash advance: 99% plus a fee of $10 or 5% of the amount of each cash advance, whichever is greater
Fees
- Penalty: up to 29.99% (and up to $41 late payment fee)
- Annual fee: $0 with your paid Costco Membership
- Foreign transaction fee: None
- Returned payment fee: up to $41
Costco Anywhere Visa Card by Citi Benefits
Travel
- Worldwide travel and emergency assistance: Get help with lost luggage, medical emergencies, and more.
- Global car rental insurance: Protect yourself against damage to rental cars abroad.
- Travel accident insurance: Receive coverage for injuries sustained while traveling.
Purchase Protection
- Damage and theft protection: Be reimbursed for the cost of covered purchases that are damaged or stolen within 120 days (90 days for New York residents).
- Purchase protection: Get reimbursed for stolen or damaged purchases within 3-4 months of purchase.
Convenience
- Citi Entertainment: Access exclusive pre-sale tickets and experiences for concerts, sporting events, dining, and more.
- Digital Wallets: Add your Citi card to your digital wallet for faster online and in-store checkout.
- Contactless Pay: Tap your card to pay quickly and securely at contactless terminals.
Redeeming Cash Back Rewards with the Costco Anywhere Visa Card by Citi
The Costco Anywhere Visa® Card by Citi offers cash-back rewards, but there’s only one way to redeem them: as a reward certificate usable solely for purchases at physical Costco warehouses. This can be a disadvantage for infrequent Costco shoppers. While the certificate cannot be used online or towards your credit card balance, any unspent portion can be returned to you as cash at the register. However, this is subject to Costco’s discretion. Similarly, certificates exceeding $10,000 might be issued as checks or electronic transfers, but again, at Costco’s discretion.
Important points to remember
- Certificates are issued annually in February.
- They expire on December 31st of the same year.
- You need to have earned at least $1 in rewards and maintain an open account to receive a certificate.
Application and Approvals
Are you interested in applying for the Costco Anywhere Visa Card by Citi and unlocking its cash-back rewards on gas, restaurants, travel, and Costco purchases? Head to the application page on the Citi or Costco websites, or visit your local Costco warehouse and request an application at the membership counter. Remember, a valid Costco membership is required to apply.
Eligibility Criteria
- A credit score of 750 or higher
- A Costco membership
- Enough income to pay your monthly bill
- Low debt relative to income
- Low housing costs relative to income
- A U.S. mailing address
- Be at least 18 years old
- Have a Social Security number.
Should you consider the Costco Anywhere Visa® Credit Card by Citi?
If you are a Costco member who wants to earn more rewards on gas or EV stations and travel, then the Costco Anywhere Visa® Card by Citi may be a great option for you. However, keep in mind that this card requires paying your Costco membership fee to qualify, which may not be desirable for non-Costco members. Additionally, the rewards are only issued as Costco certificates, which may not be suitable for everyone.
On the other hand, this card does offer attractive travel benefits such as no foreign transaction fees and 3% cash back on eligible travel purchases. It also provides purchase protection for damage or theft for up to 120 days (90 days if you live in New York).
If these features do not align with your needs or if you are not a Costco member, it may be wise to explore other credit card options. So, carefully consider your circumstances before deciding whether the Costco Anywhere Visa® Card is right for you.
Customer Service
- Helpline Number: 1-855-378-6264
- Official Website: Citi Credit Card
Conclusion
The Costco Anywhere Visa Card by Citi offers compelling rewards and benefits for frequent Costco shoppers and those who spend heavily on gas, restaurants, and travel. With no annual fee for active Costco members, the card returns 4% cash on gas and EV charging up to $7,000 annually, 3% on restaurants and travel, and 2% on all other purchases at Costco and Costco.com. Additionally, cardholders enjoy various perks like no foreign transaction fees, travel and purchase protection, and access to Citi’s mobile app for convenient account management. While the card’s interest rates are higher, for those who pay their balance in full each month and maximize the rewards categories, the Costco Anywhere Visa® Card by Citi can be a valuable addition to their wallet.
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Does the Costco Anywhere Visa® Credit Card by Citi have an annual fee?
No, there is no annual fee for the Costco Anywhere Visa® Card by Citi. However, keep in mind that you will need to maintain an active Costco membership, which starts at $60 per year.
What is the credit limit on the Costco Anywhere Visa® Credit Card by Citi?
The credit limit for the Costco Anywhere Visa® Card by Citi will vary based on your individual creditworthiness, but it can be as low as $500. It is important to maintain responsible credit habits and regularly check your credit score in order to potentially increase your credit limit over time.
Specification: Costco Anywhere Visa Card by Citi Review
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