Costco Anywhere Visa® Card review: Members earn cash rewards for future Costco spending

If your idea of a perfect Saturday morning is shopping for freezer goods and pantry staples at Costco, a Costco cash back credit card could be a great addition to your wallet. Costco credit card rewards are designed to help bring down the price of your next Costco haul, plus no annual fee.

The Costco Anywhere Visa® Card by Citi is a solid cash-back credit card with a ton of potential savings for members of the wholesale club. Here’s everything you need to know before you apply:

Costco Anywhere Visa Card by Citi

Annual fee: $0

Welcome offer: N/A

Rewards:

• 4% cash back on eligible gas and EV charging (up to the first $7,000 spent per year, then 1%)

• 3% cash back at restaurants

• 3% cash back on eligible travel purchases

• 2% cash back on other Costco and Costco.com purchases

• 1% cash back on all other spending

APR

The Costco Anywhere Visa has a variable APR of 20.49%. That’s slightly lower than many other cards today, but it’s still a high APR. A balance transfer fee applies if you spend more than you can afford.

There is also no intro APR offer, so the regular variable APR will kick in for any balances not paid by the due date.

Dig deeper: Yahoo’s list of the best credit cards

Annual fee

There is no annual fee for the Costco credit card. However, cardmembers will need an active Costco membership to be approved.

Annual personal memberships cost $60 for Gold Star Members and $120 for Executive Members. The Executive membership tier offers a 2% annual reward (up to $1,000) on Costco spending, which applies in addition to any rewards you earn with your Costco credit card.

Your Costco membership will auto-renew onto your Costco Anywhere Visa card (if you’re not already enrolled in auto-renewal) and you’ll earn rewards on the fee.

Welcome offer

This Costco credit card has no cash welcome bonus offer for new cardholders.

Costco credit card rewards rate

These are the Costco credit card cash-back rewards categories — which extend even beyond Costco purchases.

• 4% cash back on eligible gas and electric vehicle charging (including Costco gas stations; up to $7,000 spent per year, then 1%)

• 3% cash back at restaurants

• 3% cash back on eligible travel purchases (including Costco Travel)

• 2% cash back on other Costco and Costco.com purchases

• 1% on all other purchases

Dig deeper: Yahoo’s list of the best credit cards for rewards

How to earn Costco credit card rewards

Cardmembers will earn cash-back rewards every time you make an eligible purchase with your Costco credit card. There are some exceptions to eligible bonus spending, though — for each of the non-eligible purchases below, you’ll earn only 1% cash back.

• 4% cash back does not apply to gas purchases at non-Costco superstores, supermarkets, and warehouse clubs. Gas not used for cars is also excluded.

• 3% cash back at restaurants does not apply to bakeries, and may not apply to restaurants or cafes inside of department stores, grocery stores, or warehouse clubs.

• The 3% cash back travel category has some select exclusions: timeshares, campgrounds, bed and breakfasts, train tickets, and other commuter travel purchases.

In addition, non-purchase transactions earn no rewards. These include cash advances, balance transfers, interest and fees, lottery tickets, and fraudulent charges.

How to redeem Costco credit cards rewards

Unlike many cash-back credit cards, the Costco Anywhere Visa offers little flexibility in how cardmembers redeem and use your rewards.

Each year, you’ll receive the previous year’s cash back as a rewards certificate with your February billing statement. You can use the certificate like cash at U.S. Costco warehouses, but there are some important restrictions:

• You must use your rewards certificate by December 31 the year you receive it

• You can only use your rewards at U.S. Costco warehouses (including Puerto Rico) — not online or at Costco gas stations

• You must redeem your rewards certificate in a single transaction

Cardmembers may also use your rewards to purchase a Costco Shop Card, which works like a store gift card. This is a useful option if you have more rewards than you can spend in one trip or you’re unable to use your rewards before the December 31 deadline. Unlike the rewards certificate, you can also use the gift card online or at Costco gas stations.

Related: How to use your Costco credit card’s travel benefits

Additional Costco credit card benefits

Aside from rewards, there aren’t many additional Costco credit card benefits. The benefits you will get are fairly standard amongst rewards cards. These include no foreign transaction fees, travel and emergency assistance services, travel accident insurance, and roadside dispatch.

Who is the Costco Anywhere card best for?

Not only does the Costco Anywhere Visa offer great benefits on several everyday categories — even outside of Costco spending — but it’s also one of the only card options for bonus rewards at Costco.

Many credit cards with grocery or supermarket rewards categories exclude wholesale clubs like Costco from eligibility. If you shop at Costco regularly, this card is one of the only ways to maximize what could potentially be one of your biggest monthly budget items.

Plus, it also offers a ton of additional savings.

Let’s say you’re a regular Costco shopper and pay $120 for annual Executive Membership. Each month, you do the majority of your family’s grocery and household spending at the wholesale club, totaling around $500. Over a year, that’s about $6,000. You also spend about $120 on gas each month and another $200 on dining out — both of which you charge to your card.

Here’s a look at what rewards you could earn over a year:

If you already think your Costco membership is worth the annual cost, you may not consider the fee cost in your rewards calculation. But the amount you spend at Costco each year and the membership tier you choose can affect your net rewards.

You’ll pay less for Gold Star membership, but Executive members earn an added 2% in annual Costco rewards. If you spend enough with Costco each year, that could be enough to wipe out the fee altogether (like in our example above). On top of that, your Costco Anywhere card rewards total nearly $250 more in cash back, and you could earn even more depending on your spending outside of these categories.

Before you apply now, make sure to look back at your spending and budget to determine the right options for you.

Costco Anywhere Visa pros

• Everyday savings: Not only can you earn Costco credit card rewards, but more everyday bonus categories can help you save on your regular spending at restaurants, gas stations, and even on travel.

• No annual fee: Outside of Costco membership, this card has no annual fee. If you already use a Costco membership for savings with the wholesale club, you won’t pay any extra to earn additional rewards with this card.

• Combine with Executive Membership rewards: If you have the $120/year Executive Membership from Costco, you may already earn 2% rewards on your Costco spending. With a Costco Anywhere Visa, you’ll earn those rewards plus 2% credit card rewards on your Costco spending.

Costco Anywhere Visa cons

• No added benefits: Beyond rewards, this card has few added benefits for cardholders. If you’re looking for annual credits or partner perks, consider more general rewards credit cards.

• Limited redemptions for rewards: Inflexible rewards are one of the Costco card’s big drawbacks. You’ll only receive rewards once per year and must use them in a single transaction at U.S. Costco store locations. For more flexibility, you may want to look at regular cash-back credit cards or rewards credit cards.

Where can you use your Costco credit card?

Cardmembers can use the Costco Anywhere Visa with any retailer that accepts credit card payments. It’s a co-branded card between Costco and Citibank and runs on the Visa network, one of the most widely accepted credit card networks worldwide.

If you don’t have a Visa credit card already, this could be another incentive to consider the Costco credit card. Costco accepts all Visa credit cards (plus non-credit card payments including cash, debit cards, and checks).

How to make a Costco Anywhere Visa payment

The Costco credit card is issued by Citibank, so you’ll make all of your payments through your online Citi account (not through Costco). Here are your options from the issuer:

PO Box 78019

Phoenix, AZ 85062-8019

Costco Anywhere Visa customer service info

• Phone number: 1-855-378-6467

• Costco Anywhere Visa card login page

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Alternative cards to consider

If you’re not already a Costco member or looking for more flexible cash rewards, here are a few more cash-back credit cards to compare:

Read more: Check out our full review of the Blue Cash Everyday card

Related: Chase Freedom Unlimited vs. Freedom Flex — Which cash-back card is the best?

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