Advertiser Disclosure

Benefits of the Citi Costco Credit Card

The card earns high rewards rates on gas, restaurant and travel spending. And there's no annual fee beyond a yearly Costco membership.
Oct. 30, 2019
Cash Back Credit Cards, Credit Cards, Rewards Credit Cards
benefits-citi-costco
At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

If you have a Costco membership, you can apply for the Costco Anywhere Visa® Card by Citi, a card with rewards as rich as the store’s baked-goods department.

While a store membership will run you at least $60 a year, the annual fee for the card is $0, and frequent shoppers should have no trouble racking up cash-back rewards.

Here are the benefits of the Costco Anywhere Visa® Card by Citi.

Rewards on spending

1. High ongoing cash-back rates in multiple categories

The Costco Anywhere Visa® Card by Citi earns an impressive 4% cash back on gas purchases (at Costco or elsewhere) on up to $7,000 of spending a year. That translates to $280 back a year if you hit that limit. (After $7,000 in spending, the rewards rate goes down to 1%.) The card also earns 3% cash back on restaurants and most travel purchases, 2% back at Costco and Costco.com, and 1% back on all other purchases.

2. Useful redemption options

Every year at the closing of the February billing statement, cardholders receive their cash-back reward certificate. That certificate can then be redeemed at physical Costco stores anytime before the end of the year, in exchange for either cash back or merchandise. So if you’ve been saving up for a big-ticket item, you can put that rewards certificate toward it.

Travel perks and protections

3. No foreign transaction fees

The Costco Anywhere Visa® Card by Citi is a good card to bring on trips, not least of all because it charges no foreign transaction fees. That means you won’t be charged an extra 3% to 5% on purchases you make abroad. And you continue earning rewards whether you’re on the road at home or overseas.

4. WORLDWIDE CAR RENTAL INSURANCE

As long as you pay with your Costco Anywhere Visa® Card by Citi and decline the car rental company’s collision loss/damage insurance, your card can cover you against theft and damage.

5. Travel and emergency assistance

The Costco Anywhere Visa® Card by Citi offers 24/7 emergency assistance when you’re traveling. So if you suddenly find yourself in need of medical and legal assistance or emergency travel arrangements, you have a number to call.

6. Roadside assistance dispatch service

If you get stuck on the side of the road with car problems, this service will send help, as long as you are in the U.S., Puerto Rico, or the U.S. Virgin Islands.

Shopping and entertainment protections and perks

7. Damage and theft purchase protection

If the items you buy with your card are damaged or stolen within 120 days of buying them (or 90 days for residents of New York), the Costco Anywhere Visa® Card by Citi offers coverage.

8. Extended warranty

The card automatically adds 24 months of warranty coverage when you use it to pay for at least part of your purchase. 

9. Special tickets

The Costco Anywhere Visa® Card by Citi gives you access to tickets for thousands of events before they’re available to everyone else, via the Citi Entertainment program. So if you have your eye on a popular concert or sporting event, it can help you score seats.

10. High level of security

Not only does the Costco Anywhere Visa® Card by Citi come with $0 liability fraud protection, but Citi Quick Lock lets you instantly shut down your card if you can’t find it, and then just as easily turn it back on again when you locate it.

More about the card

About the author