Costco Anywhere Visa® Credit Card by Citi review: earn up to 4% back on select categories

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costco-anywhere-visa-credit-card-by-citi-review:-earn-up-to-4%-back-on-select-categories

Why we like this card: Costco members earn high rewards on select categories, like gas and restaurants, with the Costco Anywhere Visa® Card by Citi. Non-members will need to join the warehouse club to qualify.

Pros

  • Up to 4% cash back
  • $0 annual fee with a Costco membership
  • No foreign transaction fees

Cons

  • Spending caps on highest rewards category
  • Costco membership is required to apply
  • No intro APR offer available
  • Cash back available in the form of Costco rewards certificates only

Costco Anywhere Visa® Credit Card by Citi: Overview

APR

  • Intro: N/A
  • Purchase: 20.49% variable
  • Balance transfer: 20.49% 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: 29.99% plus fee of $10 or 5% of the amount of each cash advance, whichever is greater.
  • 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

The Costco Anywhere Visa® Card by Citi is a solid no annual fee cash back rewards credit card for Costco club members. With up to 4% cash back, if you spend in the right categories, you could get considerable savings with this card. It’s also a good travel companion with no foreign transaction fees and numerous travel benefits, not the least of which is extra cash back on trips booked through Costco travel. However, while the credit card has no annual fee, you will need to pay the annual membership fee for Costco, which starts at $60 per year.

Costco Anywhere Visa® Credit Card by Citi: Rewards

The Costco Anywhere Visa® Card by Citi provides the following rewards structure:

  • 4% cash back on eligible gas and EV charging purchases for the first $7,000 per year and then 1% thereafter
  • Unlimited 3% cash back on restaurants excluding bakeries and certain restaurants inside department stores, grocery stores or warehouse clubs and eligible travel, which excludes timeshares, campgrounds, bed and breakfasts, as well as train and commuter travel
  • Unlimited 2% cash back on all other purchases from Costco and Costco.com
  • Unlimited 1% cash back on all other purchases

Does the Costco Anywhere Visa® Credit Card by Citi offer a bonus?

There is no currently new member bonus offer with the Costco Anywhere Visa® Card by Citi.

How to redeem Costco Anywhere Visa® Credit Card by Citi rewards

There’s only one way to redeem cash back rewards with the Costco Anywhere Visa® Card by Citi: As a reward certificate that can be used toward purchases at Costco warehouses. For infrequent Costco shoppers, this may be a deal breaker. 

However, any amount you don’t spend at Costco will be returned to you as cash at the register. You can also request to have your certificate redeemed for cash, but this will be fulfilled at Costco’s discretion.

Similarly, if your reward amount is more than $10,000, you may receive it as a check or electronic transfer, but this is at Costco’s discretion.

Certificates are issued each February and must be spent by December 31 of the same year. You must have earned at least $1 and have an open account to receive a certificate.

Additional benefits

  • Travel benefits: Cardholders can receive travel and emergency assistance, worldwide car rental insurance and travel accident insurance.
  • Damage and theft protection: You’re covered for the cost of a repair or return on purchases that are damaged or stolen within 120 days of purchase (90 days for New York residents).
  • Citi Entertainment: Get access to tickets, including presale tickets and exclusive experiences, for concerts, sporting events, dining and more.
  • Digital Wallets: Save your Citi card to your digital wallet for faster checkout online and in stores and apps.
  • Contactless Pay: Simply tap your card on the payment reader for a secure, contactless-chip payment option.

Is Costco Anywhere Visa® Credit Card by Citi right for you?

The Costco Anywhere Visa® Card by Citi a compelling option for Costco members who want to earn more rewards on gas or EV stations and travel. While the card has no annual fee, you do need to pay your Costco membership fee to qualify, which may make it a less appealing option for folks who aren’t already Costco members. The fact that rewards are only issued as Costco certificates can also be a mark against this card. 

It does provide solid travel benefits, though, including no foreign transaction fees and 3% cash back on eligible travel purchases. Plus, purchases are insured against damage or theft for 120 days (90 days if you live in New York).

If these benefits don’t appeal to you or you’re not a Costco member, you may want to consider a different card.

Credit cards similar to Costco Anywhere Visa® Credit Card by Citi

While the Costco Anywhere Visa® Card by Citi is a worthwhile option for Costco members, it’s by no means the only card to consider. Other credit cards offer comparable rewards that may be a better fit for your spending habits.

Chase Freedom Unlimited® Credit Card vs. Costco Anywhere Visa® Credit Card by Citi

The Chase Freedom Unlimited® Credit Card is another no annual fee cash back rewards card with high reward tiers—and since you don’t have to be a member of anything to qualify, this one truly does have no annual fee compared to Costco’s annual membership fee. 

Chase Freedom Unlimited® card holders earn 5% cash back on travel purchased through Chase Ultimate Rewards and 3% cash back on dining (including takeout and eligible delivery service) and 3% cash back on drugstore purchases, plus 1.5% cash back on all eligible purchases. You also get purchase protection, travel insurance, extended warranty protection and auto rental coverage, plus access to the Chase Ultimate Rewards Portal where you can book travel with your points.

Wells Fargo Active Cash® Card vs. Costco Anywhere Visa® Credit Card by Citi

If you don’t like keeping track of rewards categories, the Wells Fargo Active Cash® Card may be a better fit for you. With unlimited 2% cash back on all purchases and no annual fee, it makes earning rewards easy.

You won’t earn as much with the Wells Fargo card as you could by spending in the Costco Citi card’s highest tiers, but you also won’t need to keep tabs on earnings caps or tiers. There is, however, a 3% foreign transaction fee on the Wells Fargo card versus no foreign transaction fee with Costco’s card.

The Wells Fargo card offers a 0% intro APR for 15 months,which the Costco card does not. But you can redeem Wells Fargo rewards in numerous ways, including as statement credits or for cash.

Frequently asked questions

Is the Costco Anywhere Visa® Credit Card by Citi worth it?

The Costco Anywhere Visa® Card by Citican be worth it for Costco members who will appreciate receiving rewards as a warehouse certificate and are already paying the annual membership fee. If you are not already a Costco member or don’t want to become one, the card may not be worth the $60 annual club membership.

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

There is no annual fee for the Costco Anywhere Visa® Card by Citi by Citi. However, you will need to be an active Costco member, which starts at $60 per year.

What is the credit limit on the Costco Anywhere Visa® Credit Card by Citi?

The Costco Anywhere Visa® Card by Citi credit limit will vary based on your creditworthiness, but may be as low as $500.


Please note that card details are accurate as of the publish date, but are subject to change at any time at the discretion of the issuer. Please contact the card issuer to verify rates, fees, and benefits before applying.