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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 | |
| Main benefits |
|
| Annual fee | $0 (Costco membership required) |
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.
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.
Cardholders receive 4% cash-back on up to $7,000 in gas purchases and EV charging purchases. 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 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.
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.
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.
Costco Anywhere cardholders will receive 1% cash-back on all additional purchases where Visa is accepted.
At times, the rewards program may offer bonuses and special offers, such as an increased cash-back rate when you make specific purchases.
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.
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.
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.
There are several benefits of the Costco Anywhere card, most of which apply due to its connection with Citibank.
You can read more about the specific details of these benefits.
While this card is generally a great cash-back card, there are other potential drawbacks to consider:
As this is a cash-back card, we recommend considering these other cards either instead of or in combination with the Costco Anywhere card.
Terms Apply / Rates & FeesThis cash-back card offers a capped 3% at U.S. supermarkets, 3% at U.S. gas stations, and 3% on U.S. online retail purchases!
If you're approved and accept this Card, your credit score may be impacted.
When it comes to cash-back credit cards, there are dozens of options to choose from. So what sets the Blue Cash Everyday® Card from American Express apart from the rest?
This card is excellent at earning cash-back on your everyday purchases at U.S. supermarkets, U.S. gas stations, and on U.S. online retail purchases. So if you regularly spend money on everyday purchases, this could be the perfect card to add to your wallet.
Terms Apply / Rates & FeesThis card is great for those who want to earn cash-back with U.S. supermarkets, U.S. streaming subscriptions, transit, and U.S. gas stations.
If you're approved and accept this Card, your credit score may be impacted.
The Blue Cash Preferred® Card from American Express is a stellar cash-back credit card for those looking to maximize every purchase they make.
With bonus categories like U.S. supermarkets, select streaming services, U.S. gas stations, and transit purchases, this card rewards you for the items you spend the most on in a big way! For those looking to earn up to 6% cash-back on their purchases, this could be the card for you!
Redeem cash-back through your American Express account
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.
There are a few different ways to apply for the Costco Anywhere card:
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.
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.
Online, cardholders can perform the following tasks:
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.
For rates and fees of the Blue Cash Everyday® from American Express, click here.
For rates and fees of the Blue Cash Preferred® Card from American Express, click here.
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.
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 and EV charging purchases (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.
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.
The Costco Anywhere card is issued by Citibank.
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.
The easiest way to cancel your Costco credit card is to call the phone number listed on the back of your card.
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An experienced points hacker, Erin is Alex’s partner-in-crime and contributes to Upgraded Points with in-depth guides and relationship management. Erin’s work has been cited in multiple major publications.
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