The credit cards I typically review focus on earning airline miles, hotel points, or transferable points like Chase Ultimate Rewards, Citi ThankYou Points, or AMEX Membership Rewards. However, there’s another category worth exploring—cashback cards.
For many people, Costco has become a go-to for groceries, supplies, and more. Warehouse clubs like Costco don’t qualify for grocery category bonuses on most cards, making the Costco Anywhere Visa® Card by Citi a compelling option for frequent Costco shoppers.
This card stands out in the cashback card market, offering up to 4% back in specific categories—more than the usual 1.5% to 2% cashback most cards provide. Let’s break down what makes this card worth considering.
Costco Anywhere Visa® Card by Citi
Annual Fee
- No annual fee if you have a Costco membership.
Costco memberships start at $60 per year (plus tax) for a Gold Star membership.
Spending Bonus Categories
The Costco Anywhere Visa offers competitive cashback rates:
- 4% cashback on eligible gas and EV charging worldwide (including at Costco) for the first $7,000 annually, then 1% thereafter.
- 3% cashback on restaurants and eligible travel purchases worldwide.
- 2% cashback on all purchases from Costco and Costco.com.
- 1% cashback on all other purchases.
Why this card stands out:
- The 4% cashback on gas applies not only to Costco Gas—which is already cheaper than most stations—but also to gas purchases everywhere. This is rare for cashback cards.
- The travel category includes airfare, hotels, car rentals, cruise lines, and Costco Travel. However, purchases like timeshares, commuter rail tickets, and campgrounds earn only 1%. If you spend heavily in these excluded categories, consider an AMEX Green Card, which has a broader definition of travel expenses.
Rewards Redemption Process
The card’s cashback system works a bit differently:
- Rewards are issued annually as a credit card reward certificate after your February billing cycle.
- The certificate can be redeemed for cash or merchandise at any U.S. Costco location, including Puerto Rico.
- Important deadlines: Rewards must be redeemed in person by December 31 of the year they’re issued. Unused rewards will expire.
If you’re a frequent Costco shopper, this system aligns well with regular visits. For those who shop at Costco only occasionally, the once-a-year redemption might be less convenient.
No Foreign Transaction Fees
The Costco Anywhere Visa has no foreign transaction fees, making it an excellent choice for international purchases. You can take full advantage of the 3% cashback on dining and travel globally without worrying about extra charges—a rare benefit for a card with no annual fee.
Contactless Payments
The Citi Costco Anywhere Visa is a contactless card featuring technology allowing you to tap your card on the reader instead of using the chip or swiping the card. This means you can use the card to pay for your tickets on the Chicago Transit Authority, New York subways & buses, and London Underground systems just by tapping your card on the turnstiles.
Additional Considerations
- Sign-Up Bonus:
Unlike many rewards cards, the Costco Anywhere Visa doesn’t offer a sign-up bonus. This card is for long-term savings rather than an upfront perk. - Comparison with Premium Cards:
Earning 3% on dining is equivalent to the Chase Sapphire Reserve’s restaurant bonus category. While Ultimate Rewards points can be worth more than cashback, the Sapphire Reserve comes with a $550 annual fee compared to the Costco card’s $0 annual fee (with membership). Consider how much you spend to determine which card offers better overall value
Final Thoughts
If Costco is a regular part of your shopping routine, the Costco Anywhere Visa® Card by Citi is one of the best cashback options available. With generous bonus categories, no annual fee (with membership), and no foreign transaction fees, it’s a standout choice for gas, dining, and Costco purchases.
However, the card’s rewards redemption process, requiring in-person visits to Costco, may be inconvenient for occasional shoppers. Make sure the card fits your spending habits and redemption preferences.
*** Thanks to Mary B. for the heads up about the perks of having the Costco Anywhere Visa card.
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10 comments
It is the worst card ever. Only one person cam see statements so when my husbhus travels i i cant check any of our statememts or check for fraud. He also is the only person that can use the cash back slip and i am a second class citizen. So many different websites we have to change password every month because God forbid you make a mistake logging in more than twice. Stay away.
Never can access online!!! Frustrated!!!!
Just get a 2% cash back card with no annual fee. Make life simple
I’m trying to think of a 2% cashback Visa card? Fidelity? But then you need to have a Fidelity account.
This is by far the best credit card I have ever had. I am tracking to redeem $1400 in Feb. just on the purchases I have made this past year. No annual fee, 4% back on gas, 3% restaurants & travel, 2% on all Costco purchases and anything I buy that has a warranty, it extends the warranty by 2 more years. Hands down, the only credit card you ever need!
If you’re not looking to use your points for premium travel, this sounds like a good plan for you. I didn’t think much about the warranty aspect of the card.
Annie O, where did you find out about the extended warranty? I didn’t know this, and just have purchased a new washer and dryer with my card. Info please???
Thanks!
This is a niche use but if you’re traveling internationally and you happen to be in a country that has Costco (and you want to go check it out for fun), this card will get you in since your Costco membership is on the back AND you can use it to pay for anything you might want to buy over there. I bring it with me and have used it to go to Costco Canada, Costco Australia, Costco Japan, and Costco Korea. Fun to see what other snacks and such other countries have in bulk!
Costco Business Visa is worth a review…some different benefits.
I’ve had this card since its inception (and I had the prior card as well). This card isn’t that great but it could be if they would make some simple changes to it.
1. It should include the annual membership for free with no annual fee. – That would be a game changer and I bet they would have a HUGE increase in cardholders using this card.
2. The rebate certificate should be available to use online at the Costco website. – It’s 2024 guys, come on. By keeping it a “paper” like certificate that can only be used in person at the store it is designed for breakage. It’s like Menard’s 11% rebate or Kohl’s cash schemes.
3. I give it credit for 4% back on EV charging which is one of the best rates out there but Costco cashback is worth less per $1 than Amex, CSR, etc. points. Also EV charging typically costs WAY less than gasoline spent per vehicle, per month. Most EV owners charge at home, limiting EV charging from public stations. A high user might spend $50 to $100 per month on EV costs so 4% per year isn’t that interesting.
4. Costco should offer special deals for Costco cardholders. Special coupons or something to put some icing on top.