Costco Anywhere Visa Card Review – Everything You Need To Know

Costco Wholesale Store for Costco Credit Card Review

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Wholesale clubs like Costco are a go-to for many when it comes to groceries, household items, prescriptions, electronics, and even car tires.

If you’re a Costco shopper, you’ve probably heard about its store-branded credit card and might be wondering: is it worth it? Can it really save more money?

We aim to answer that question with this review as we cover the Costco Anywhere card in-depth. We’ll outline its benefits, cash rewards program, fees, drawbacks, and more.

By the end of the article, you should have a good idea if this is a smart card for your wallet.

Costco Anywhere Card at a Glance

Costco Anywhere Visa Card Benefits
Image Credit: Costco
Costco Anywhere Card
Main benefits⛽  4% cash-back on gas (limits apply)
🍽  3% cash-back on dining
✈  3% cash-back on travel
🛒  2% cash-back at Costco and Costco.com
🛍  1% cash-back on all other purchases
Annual fee$0 (Costco membership required)
APR15.24% (variable)

The Costco Anywhere card is a cash-back credit card issued by Citibank. The Costco Anywhere Visa® Business Card by Citi is available for those interested in a business version of the card.

While the annual fee is technically $0, cardholders must have a valid Costco membership to apply. A basic annual Costco membership is $60. Cardholders must keep their Costco membership open and in good standing to earn benefits and redeem rewards.

Once you receive your Costco Anywhere card, it can be used in place of your membership card, so you don’t have to carry around 2 different cards when you shop.

Costco Cash Rewards (Benefits In-Depth)

Costco Anywhere Visa Card Benefits
Image Credit: Costco

The benefits of the Costco Anywhere card are great for a cash-back card. The tiered bonus categories highlight everyday purchases where some cardholders may allocate a majority of their yearly spend, including gas, restaurant, travel, and Costco purchases.

The primary cardholder may add authorized users to the card. Authorized users are eligible to earn Costco Cash Rewards, which are added to the rewards total of the primary cardholder.

Gas

Cardholders receive 4% cash-back on up to $7,000 in gas purchases for the year. After you reach the $7,000 threshold, cardholders earn 1% cash-back on all additional gas purchases for that year.

Hot Tip: The 4% cash-back on gas does not apply to fuel purchased at superstores, supermarkets, convenience stores, and warehouse clubs other than Costco. Additionally, it does not apply to fuel used for non-automobile purposes — you’ll only receive 1% for these purchases.

Dining and Travel 

Cardholders will receive 3% cash-back on dining and travel purchases.

Dining rewards include purchases made at restaurants, cafes, lounges, fast food restaurants, and bars. Similar to the fuel exception, the 3% cash-back does not apply to dining at locations within grocery stores, department stores, supercenters, or other wholesale clubs. You’ll only get 1% at those establishments.

Travel rewards apply to all eligible travel purchases worldwide (without any foreign transaction fees!), which includes airfare, hotels, car rentals, cruise lines, travel agencies, and Costco Travel.

Costco and Costco.com Purchases

For frequent Costco shoppers, a big perk of this card is the 2% cash-back on all Costco and Costco.com purchases. This is a nice benefit compared to the Sam’s Club credit card that doesn’t reward its cardholders with any type of bonus for spending at Sam’s Club or Walmart.

All Additional Purchases

Costco Anywhere cardholders will receive 1% cash-back on all additional purchases where Visa is accepted.

Bonuses

At times, the rewards program may offer bonuses and special offers, such as an increased cash-back rate when you make specific purchases.

Example of a special bonus offer. Image Credit: Costco

In the past, special bonuses have included offers such as the above offer on Samsung TVs and an offer for $100 off a set of 4 Michelin tires.

Redeeming Your Cash Rewards

Costco Cash Rewards are paid out annually, not monthly like most other credit cards.

Cardholders earn rewards from January through December each calendar year (regardless of the month in which they open the card). Rewards are then distributed in the form of a single reward certificate the following February once the billing statement closes. Rewards certificates are available for redemption through December 31 of that same year

If you’re enrolled in paperless statements, you will receive the certificate via email separately. It will not be attached to your online statement. If you are not enrolled in paperless statements, you can find the certificate on the last page of your February billing statement when you receive it in the mail.

Costco 2020 Rewards Certificate
Example of a Costco Cash Rewards Certificate. Image Credit: Citi

Cardholders may utilize the certificate for cash-back or Costco merchandise. Cardholders have the option of redeeming a portion for merchandise and receiving the remaining balance in cash at the register upon check-out.

You must redeem the certificate in-person at a Costco store. It is not available in the form of a statement credit, available to redeem online, or open to redeem with Costco Travel.

The certificate will be issued to the primary cardholder, but you may authorize someone else to redeem the certificate, if necessary.

Hot Tip: Cardholders must maintain an open Costco membership to redeem cash-back rewards. If your Costco membership closes before you redeem your certificate, you forfeit your hard-earned rewards. 

See our Online Account Management section below for information on how to view your rewards online throughout the year.

Additional Costco Credit Card Features

There are several benefits of the Costco Anywhere card, most of which apply due to its connection with Citibank.

💱 No foreign transaction fees
🗓 Extended warranty
🕵️‍♂️ Damage and theft purchase protection
🚗 Worldwide car rental insurance
🆘 Travel and emergency assistance
🚧 Roadside assistance dispatch service
🎤 Citi Entertainment
💸 $0 liability on unauthorized charges
🔐 Citi Quick Lock
📱 Citi Mobile App

You can read more about the specific details of these benefits.

Fees and Drawbacks of the Card

Fees

As with any card, the Costco Anywhere card comes with fees.

Costco Anywhere Card
Annual fee $0 (Costco membership required)
Purchase APR15.24% variable
Balance transfer APR15.24% variable
Balance transfer fee$5 or 3% of the amount of each transfer (whichever is greater)
Cash advance APR25.24% variable
Cash advance fee $10 or 5% of the amount of each transfer (whichever is greater)
Penalty APRUp to 29.99% (variable), based on credit­worthiness
Minimum interest charge$0.50
Foreign transaction feeNone

The best way to avoid unnecessary fees is to always be a responsible cardholder. 

Pay off your balance in full, each month. If you can’t pay off your balance completely, pay at least the minimum, and pay as much as you can to carry as small a balance as possible.

The purchase APR for this card is about average, likely because the card is generally issued to individuals with good-to-excellent overall credit. You’ll see much higher APR fees on other store-branded credit cards, especially those issued by Synchrony Bank. If a low-APR card is important to you, there are many 0% APR credit cards with up to 18-month introductory periods.

Hot Tip: The penalty APR for this card is extremely high: a whopping 29.99%. The penalty APR can be applied to your account if you make a late payment or make a returned payment. The penalty APR applies on top late or returned payment fees.

Additional Drawbacks

While this card is generally a great cash-back card, there are other potential drawbacks to consider:

Alternative Rewards Credit Cards (Recommended)

As this is a cash-back card, we recommend considering these other cards either instead of or in combination with the Costco Anywhere card.

Hot Tip: Amex, Discover, and Mastercard are not accepted in-store at Costco. Our latest guide details the best credit cards for shopping at Costco and Costco.com to make sure you earn rewards on all your Costco shopping, despite this obstacle.

Applying for the Costco Anywhere Card

There are a few different ways to apply for the Costco Anywhere card:

  • In-person at a Costco Wholesale store
  • Online
  • By phone at 800-970-3019

In general, most credit card review sites recommend a good-to-excellent credit score for card approval.

While your credit score is important, it’s not the only factor in consideration for approval. If you have an average- to above-average score and you want this card, it may be worth applying.

Some applicants may be approved instantly for the card. However, some submissions may require further review, resulting in a 7 to 10 day waiting period.

Login and Online Account Management

Citi provides great instructions for activating and registering your Costco Anywhere card. Once you’ve registered, you can use Citi’s portal to log in and manage your account online.

Citibank Portal Landing Page
Once registered, you can log in from the Citi homepage. Image Credit: Citi

Online, cardholders can perform the following tasks:

  • View account activity
  • View billing statements
  • Set up paperless statements and e-communications
  • Make a payment

Final Thoughts

If you’re a regular Costco shopper and enjoy earning cash-back on a variety of your everyday purchases, the Costco Anywhere card could be a great card to add to your wallet. This is especially true if you’re a responsible cardholder and don’t have to worry about late fees and other charges.

Remember, with this card, cash-back rewards are only available to be redeemed once per calendar year. Plus, you must keep your Costco membership open and in good standing, or your ability to earn and redeem rewards is forfeited.

However, if you’re looking for a credit card that’s more geared towards travel and maximizing your points and miles, this isn’t the card for you.


Frequently asked questions

Is the Costco credit card worth it?

That depends. If you’re already a Costco member and you want a cash-back credit card that can earn rewards in a number of spending categories, then yes, it’s likely the Costco Anywhere card is worth it. It’s important to note the cash-back you earn is only available for distribution annually.

If you’re not a Costco member, don’t think you would benefit from a Costco membership, or you’re looking for a travel rewards-based credit card, this card is not worth it for your wallet.

How does the Costco credit card work?

Cardholders must first have an active Costco membership before applying and once approved can utilize the card for purchases anywhere Visa is accepted.

The Cash Rewards Program includes the following benefits for the Costco Anywhere card: 4% cash-back on gas (up to $7,000 per year), 3% cash-back on dining and travel, 2% cash-back at Costco and Costco.com, and 1% cash-back on all other purchases.

Rewards are earned annually and distributed at the end of the following February’s billing statement. Terms apply.

Is the Costco credit card hard to get?

In general, most credit card review websites recommend a good-to-excellent credit score to qualify for the card.

This means the card may be difficult to get for those individuals with average-to-poor credit.

Who issues the Costco credit card?

The Costco Anywhere card is issued by Citibank.

Can I get the Costco credit card without a Costco membership?

No, a Costco membership is required to apply for a Costco credit card. Additionally, the membership must remain open and in good standing to earn and redeem rewards.

How do I cancel my Costco credit card?

The easiest way to cancel your Costco credit card is to call the phone number listed on the back of your card.

Erin Miller

About Erin Miller

Erin currently maintains her status as Alex's adventure-seeking partner-in-crime and contributes to Upgraded Points through in-depth content creation & relationship management.
She caught the travel bug just after high school when her grandmother took her on a two-week, whirlwind trip around Europe. That was that - she's been gallivanting around the globe ever since (26 countries & counting)!

Disclaimer: Any comments listed below are not from the bank advertiser, nor have they been reviewed or approved by them. No responsibility will be taken by the bank advertiser for these comments.

15 comments

  1. Probably the best benefit of this card is the citi price rewind. I save more using this that all the cash back combined.

    Reply

  2. After being with Citi Costco card since the switch from Amex and spending thousands of dollars I accrued about $2000 in rewards. Citi closed my account without any warnings, explanations or heads up and my reward is gone. There is no answer, help or accountability. I was never late with my payments not any problems ever. Go figure. If you are getting this cards to get rewards, think twice.

    Reply

    • Citi did the same to me. I had had the card for almost 1 year and accrued quite a few hundred dollars of reward. Then Citi closed my account without warning and without a good reason. I always paid my bills on time. Citi would not entertain any complaint. Talked to Costco and they would not do anything about it.

      Reply

  3. Per terms and conditions: 4% cash back on eligible gas worldwide, including gas at Costco, for the first $7,000 per year in gas purchases and then 1% thereafter.

    Reply

    • Hi Jessica. Yes, it’s a great benefit that worldwide gas purchases earn that 4%. However, there are also certain non-qualifying gas purchases. The terms and conditions state that “You will only earn 1% cash back, not 4%, for gas purchased at superstores, supermarkets, convenience stores and warehouse clubs other than Costco or for fuel used for non-automobile purposes.”

      Reply

  4. Ronnie Dean Davidson June 17, 2019

    If you’re a regular Costco Shopper, getting their Credit Card is a good idea. When you buy expensive 4K TV, Costco doubles the Factory Warranty from 1 Year to 2 Years but…if you used their Credit Card they double it again to 4 years !

    Reply

  5. Does the credit card also double as your membership card at Costco gas pumps? Currently, I have to swipe my membership first, then swipe my payment card.

    Reply

    • Hi Cliff! I wasn’t totally sure on this so I went ahead and contacted Costco’s customer service via their live chat feature on their website and the rep said:

      “Hi Erin, yes this is correct. You can just use the Visa card at the gas pump. It will pull your membership number from it.”

      So, good news! Just like this card can be used in place of your membership card at the warehouse, it can also be used in place of your card at the fuel station (double duty)! 🙂

      Reply

  6. I have had this card for years, however, I will be finding another card. The billing disputes department is lacking. The communication on the status of your claim is horrible. In the years I’ve had this card I’ve only had two billing disputes and both times I lost. The last time they said I lost because I paid the bill! The problem didn’t even present itself until weeks later, what was I supposed to do, get a bad credit rating? I will be finding a new card. I’ve had it with their billing dispute dept. You can do better.

    Reply

  7. Beverley Jackson January 31, 2020

    This has been a great card for our use, but the chronic unavailability of their website is annoying! I need access to this to work on business expense reports, and delays cost money. Wish they would figure out what this problem is about and get about the business of fixing it.

    Reply

  8. Isabel Palumbo March 4, 2020

    It’s an ok card until you have to cash your rewards. This is what happened to me today. Unlike other credit card rewards where you can get a credit on the account, get a gift card or have a check sent to your home, with the Citi Card you physically have to go to the store. This, I can almost understand. What Costco wants is for you to go to the store and end up using the money from your rewards points to make purchases. But today, I didn’t need to make a purchase so I waited on the return line to cash my rewards certificate only to find out when I got to the front that they do not cash the rewards certificate there, you have to go to one of the cashiers – totally inefficient.
    I then go inside the store, only to find out that all the lines were about 8 people deep. Very frustrating for anyone who just wants to cash in their rewards certificate.
    With so many other good credit cards out there that give you points and no yearly fees – I will probably be canceling my Costco card.

    Reply

  9. Same thing happened to me. Citi could not give proper reason why it closed my account. I accrued close to $1000 in rewards. Multiple calls with Citi to no avail. Accountability is terrible. Not sure whom to approach or give compliant.

    Reply

  10. I would never recommend the Costco VISA to anyone!! If you use it to the fullest extent and get the maximum rewards, they cancel your card. If you use the Costco VISA for a big purchase and plan to make payments they tack on extra fees and have a very high-interest rate! By the time you pay off your card, you’ve paid quadruple in fees and interest than the amount you will get in rewards. Also, I had fraudulent activity on my card and they wouldn’t do anything about it. There is ZERO fraud protection on the Costco VISA and I’m telling you fraud happens! Big, Big mistake getting the Costco VISA!

    Reply

  11. Lois Gittens September 3, 2020

    I need to speak or contact by mail the CEO of the Citi Costco Card.

    Reply

    • Hi Lois,

      We do not have any contact information for the CEO of CitiBank. We are Upgraded Points, an informational travel website. To get in contact with the customer service team with Citi I recommend you call the number on the back of you Citi Costco card.

      Reply

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