Chase Sapphire Preferred Card vs. Costco Anywhere Card [Detailed Comparison]

Costco shoppers can use credit cards for their purchases, but the warehouse store only accepts Visa within the U.S.

The Costco Anywhere Visa^® Card by Citi is designed for frequent Costco shoppers. Although the card has a $0 annual fee, you must have a Costco membership to be approved for the card. The Chase Sapphire Preferred^® Card, also a Visa, can be used at Costco but charges a moderate annual fee of $95. The card earns flexible rewards and excellent travel insurance benefits, making it a good choice for travelers.

This article compares the earning potential, redemptions, spending examples, and benefits of the Costco Anywhere card and the Chase Sapphire Preferred card.

Quick Overview: Chase Sapphire Preferred Card vs Costco Anywhere Card

The Chase Sapphire Preferred card suits frequent travelers who value flexible rewards redeemable for travel, while the Costco Anywhere card is designed for Costco shoppers who prefer earning cash-back on their purchases distributed as an annual certificate.

The Chase Sapphire Preferred card charges an annual fee of $95 while the Costco Anywhere card charges an annual fee of $0.

However, you must be a Costco member to be approved for the Costco Anywhere card. The current membership prices are $65 per year for a Gold Star membership and $130 per year for a Gold Star Executive membership (Source: Costco).

The Chase Sapphire Preferred card earns the most rewards on the Chase Travel portal, dining, online grocery stores, gas stations, EV charging, and some streaming services. The Costco Anywhere card earns the best on gas stations, some travel, and dining.

The Chase Sapphire Preferred card has a generous welcome bonus offer, while the Costco Anywhere card does not.

Chase Sapphire Preferred Card vs. Costco Anywhere Card at a Glance

These snapshots offer additional information on the latest welcome offer and details on each of our featured cards:

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Chase Sapphire Preferred^® Card

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

A fantastic travel card with a great welcome offer, good benefits, and perks for a moderate annual fee.

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Chase Sapphire Preferred^® Card

A fantastic travel card with a great welcome offer, good benefits, and perks for a moderate annual fee.

Welcome Offer

Earn 75,000 100,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.

75,000 100,000 points

UP's Offer Valuation*:

$2,000

Annual Fee

$95

APR

19.24% - 27.49% Variable

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Good to Excellent

Why We Like This Card

The Chase Sapphire Preferred^® card is one of the best travel rewards cards on the market. Its bonus categories include travel, dining, online grocery purchases, gas, EV charging, vacation homes, and streaming services, which gives you the opportunity to earn lots of bonus points on these purchases.

Additionally, it offers flexible point redemption options, no foreign transaction fees, and excellent travel insurance coverage including primary car rental insurance and emergency evacuation. With benefits like these, it’s easy to see why this card is an excellent choice for any traveler.

Pros & Cons

Pros

• 5x points on all travel booked via the Chase Travel portal
• 3x points on dining purchases, online grocery purchases (excluding Walmart, Target, and wholesale clubs), gas, EV charging, vacation homes (such as Airbnb and Vrbo), and select streaming services
• 2x points on all other travel worldwide

Cons

• $95 annual fee
• No elite benefits like airport lounge access or hotel elite status

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Card Highlights

• Earn 100,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
• Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, 3x on vacation homes, 3x on gas & EV charging, 3x on top streaming services and online groceries (excluding Walmart, Target, and wholesale clubs), 2x on all other travel purchases, 1x on all other purchases
• Earn up to $100 in statement credits each account anniversary year for hotel stays through Chase Travel
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
• Get a year of complimentary Apple TV when activated by December 31, 2026 - a value of $156.
• Complimentary DashPass which unlocks $0 delivery fees & lower service fees for a min. of one year when you activate by 12/31/27. Plus, a $10 promo each month on non-restaurant orders.
• Receive one statement credit of up to $120 every four years as reimbursement for the application fee charged to your card for a Global Entry, TSA Precheck^® or NEXUS application.
• Transfer points to leading airline and hotel loyalty programs
• Member FDIC

Financial Snapshot

• APR: 19.24% - 27.49% Variable
• Foreign Transaction Fees: None

Rewards Center

Chase Ultimate Rewards

Costco Anywhere Visa^® Card by Citi

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

All information about Costco Anywhere Visa^® Card by Citi has been collected independently by Upgraded Points.

Costco Anywhere Visa^® Card by Citi

Welcome Offer

None

Annual Fee

$0

APR

18.74% to 26.74% Variable

Why We Like This Card

The Costco Anywhere Visa^® Card by Citi is a great Citi’s cash-back rewards card designed specifically for Costco Members.

Card Highlights

• Discover one of Citi’s best cash back rewards cards designed exclusively for Costco members
• 5% cash back on gas at Costco and 4% cash back on other eligible gas and EV charging purchases for the first $7,000 per year and then 1% thereafter
• 3% cash back on restaurants and eligible travel purchases
• 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 and enjoy no foreign transaction fees on purchases
• Receive an annual credit card reward certificate, which is redeemable for cash or merchandise at U.S. Costco warehouses, including Puerto Rico

Financial Snapshot

• APR: 18.74% to 26.74% Variable
• Foreign Transaction Fees: None

Earning Potential

The Chase Sapphire Preferred card earns flexible Ultimate Rewards points, while the Costco Anywhere card earns cash-back.

Here’s how rewards are earned on each of our featured cards.

While the number of rewards you earn depends on your spending mix, here is a simple spending scenario to illustrate the earning differences between the 2 cards:

• $300 per month at Costco ($3,600 per year)
• $200 per month on gas ($2,400 per year)
• $100 per month on dining ($1,200 per year)
• Average $200 per month on travel ($2,400 per year using Chase Travel for the Chase Sapphire Preferred card and qualifying travel purchases on the Costco Anywhere card)

If using the Chase Sapphire Preferred card, the yearly earnings would be:

• 1x points on $3,600 at Costco = 3,600 points
• 3x points on $2,400 on gas = 7,200 points
• 3x points on $1,200 on dining = 3,600 points
• 5x points on $2,400 on travel via Chase Travel = 12,000 points
• Total: 26,400 Ultimate Rewards points

Let’s add up the yearly earnings if using the Costco Anywhere card:

• 2% cash-back x $3,600 at Costco = $72
• 5% cash-back at Costco gas stations x $2,400 on gas = $120
• 3% cash-back x $1,200 on dining = $36
• 3% cash-back x $2,400 on travel = $72
• Total: $300 in cash-back

The $300 cash-back earned on the Costco Anywhere card has clear value. We need to look more closely at the value of Ultimate Rewards points at redemption time to compare accurately.

Bottom Line: The Chase Sapphire Preferred card earns the most on travel purchased via Chase Travel, dining, online grocery stores, gas stations, EV charging, and some streaming services. The Costco Anywhere card’s biggest earning categories are gas stations, some travel, and dining. The mix of your actual spending determines which card delivers the most total earnings. 

Redemption Options

While earning rewards is important, the value at redemption time can be even more important. Here are the options for redeeming your rewards for both of our featured cards:

Let’s refer back to our earlier spending scenario. Spending on the Costco Anywhere card yielded $300 cash-back, and the Chase Sapphire Preferred card yielded 26,400 Ultimate Rewards points. If you redeem Ultimate Rewards points for certain travel with Points Boost through Chase Travel, the value could be as high as $462 at 1.75 cents per point (Source: Chase).

However, by our valuation of Chase Ultimate Rewards points at 2 cents per point, those points could potentially be worth $528 when transferred to travel partners.

If you don’t spend a lot on travel and don’t prefer to redeem your travel rewards, you may find cash-back rewards a better fit for you.

Bottom Line: Your spending mix, redemption preferences, and which card benefits you use determine which card is a better fit for your circumstances. If you prefer to redeem your travel rewards, the Chase Sapphire Preferred card can deliver greater potential value. 

Travel Benefits and Protections

Travel benefits and protections can provide peace of mind, assistance when you need it, savings on your travel purchase, and elite-style perks.

Here are some of the travel protections found on the Chase Sapphire Preferred card and the Costco Anywhere card:

• Car rental collision damage waiver: Pay for your entire rental with your card, decline the agency’s CDW/LDW coverage, and receive primary worldwide coverage for damage or theft with the Chase Sapphire Preferred card. Primary coverage means that you do not have to file a claim with other insurance before card coverage kicks in. The Costco Anywhere card also offers primary worldwide coverage outside of the U.S. and secondary coverage within the U.S.
• Roadside assistance: Pay 1 low, prenegotiated fee with either card for a service call that includes limited towing, lockout service, fuel delivery (cost of fuel not included), tire changing, winching, and jump-starting.
• Travel accident insurance: Up to $500,000 in travel accident insurance is included with the Chase Sapphire Preferred card and $250,000 with the Costco Anywhere card in the event of a covered severe injury or death.
• Travel and emergency assistance services: While traveling, receive 24/7 assistance and referrals for travel, medical, or legal emergencies. The cardholder is responsible for any services used.
• No foreign transaction fees: Neither of our featured cards charges foreign transaction fees.

Chase Sapphire Preferred Card

You’ll find these additional travel benefits and protections on the Chase Sapphire Preferred card:

• $100 Ultimate Rewards hotel credit: Make a prepaid hotel booking with your card via the Chase Travel portal and receive a $100 statement credit each card anniversary year.
• Visa Signature Luxury Hotel Collection benefits: Receive hotel VIP status, an upgraded room (when available), daily breakfast for 2, late checkout (when available), and a $25 food and beverage credit when booking through Chase.
• Trip cancellation and trip interruption insurance: If your trip is canceled or interrupted for a covered reason, you could receive up to $10,000 per person, up to $20,000 per trip.
• Trip delay reimbursement: For common carrier trips where you are delayed for a covered reason, you could receive up to $500 for eligible unreimbursed expenses.
• Lost luggage reimbursement: If your luggage is lost or damaged, you could receive up to $3,000.
• Baggage delay: Receive up to $100 per day, up to $500 total, in reimbursement for eligible incidentals if your bags are delayed for more than 6 hours.

Shopping Benefits and Protections

Shopping benefits and protections that come with the Chase Sapphire Preferred card or the Costco Anywhere card can save you money or provide reimbursement if something goes wrong with your covered purchase.

Shopping protections can provide coverage if something should happen to an eligible purchase made with your card. Here are some of the protections you’ll find on both cards:

• Purchase protection: Make an eligible purchase with either card and receive coverage for theft or damage for 120 days from the purchase date. Coverage for the Chase Sapphire Preferred card is limited to $500 per item and up to $50,000 per calendar year. The Costco Anywhere card limits coverage to $1,000 per item and up to $50,000 per calendar year.

Both cards also offer zero-liability fraud protection against unauthorized purchases and a free FICO credit score.

Chase Sapphire Preferred Card

Save money on your purchases and earn more with these Chase shopping benefits.

• Complimentary DoorDash credits and DashPass: DashPass unlocks $0 delivery fees and lower service fees for a minimum of 1 year when you activate by December 31, 2027. Plus, receive a $10 promo each month on nonrestaurant orders.
• Chase Offers: Log in to your online Chase card account, add merchant offers to your card, and make the required purchase with your card to earn statement credits.
• Shop through Chase: Earn additional Ultimate Rewards points by visiting the Shop through Chase section of your online card account and making your purchase through the portal.
• Extended warranty: Eligible items that have a manufacturer’s warranty of 3 years or less and were purchased with the Chase Sapphire Preferred card receive coverage for 1 additional year.

Hot Tip:

Chase Sapphire Preferred cardholders can get a year of complimentary Apple TV, worth up to $156. Activate this benefit by December 31, 2026.

Costco Anywhere Card

Costco Anywhere cardholders receive targeted savings.

• Shopping offers: Receive special offers for purchasing discounted gift cards and coupons for specific in-store purchases.

This article does not include a comprehensive list of benefits for our featured cards. These are key benefits for comparison purposes only. We’ve also abbreviated the benefit descriptions. For a complete list of benefits and applicable terms and conditions, access each card’s benefits guide.

Final Thoughts

The Costco Anywhere card can offer more value for Costco, gas, and dining purchases if cash-back works better for your budget. The Chase Sapphire Preferred is better for travelers who value transferable points, flexible redemption options, and travel protections.

Before you apply for either, be aware of Chase’s 5/24 rule.