The Bottom Line: Costco loyalists can rack up some nice rewards with this card, but you'll only be able to redeem them once a year — and you'll have to go to a physical Costco store to do it.
- Discover one of Citi’s best cash back rewards cards designed exclusively for Costco members
- 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter
- 3% cash back on restaurants and eligible travel purchases
Pros & Cons
Bonus cash back categories
No annual fee
High rewards rates in certain categories
Can use card as Costco membership ID
Requires excellent credit
Needs Costco membership to qualify
Rewards redeemable once a year and only at Costco
Alternate Pick: Simple rewards
Capital One® Quicksilver® Cash Rewards Credit Card
Get 1.5% back on everything, everywhere
This is a Visa card, so you can use it at Costco, but it doesn't bother with a complicated tiered rewards structure and imposes no restrictions on redemption. You get unlimited 1.5% cash back on all purchases, and you can redeem rewards in any amount at any time. You even get a sign-up bonus offer and a 0% intro APR period. The annual fee is $0.Read our review
Compare to Other Cards
$0 the first year, then $99
16.99%* Variable APR
16.74% - 25.49% Variable APR
12.49% - 14.99% Variable
0% on Purchases and Balance Transfers for 15 months
Recommended Credit Score
Recommended Credit Score
Recommended Credit Score
For a store card, the Costco Anywhere Visa® Card by Citi carries plenty of goodies in its cart.
The card can indeed be used anywhere, not just at Costco, and it offers impressive rewards rates across a wide variety of categories. Its annual fee is $0*.
But there are a couple of economy-size caveats there: You have to be a Costco member to get the card (or to realize any benefit from it), and that does require a yearly membership fee. And while the card’s rewards rates are generous, redemption isn’t as straightforward as it can be with other credit cards.
Key features of the Costco Anywhere Visa® Card by Citi
Card type: Store.
Annual fee: $0* for the card, but you have to be a Costco member. Memberships start at $60 per year.
4% cash back on gas purchases (both at Costco and other gas stations) on up to $7,000 of spending a year, then 1% back
3% cash back on restaurants and most travel purchases.
2% cash back at Costco and Costco.com.
1% cash back on all other purchases.
Sign-up bonus: None.
Intro APR offer: None.
Additional benefits: The card charges no foreign transaction fees. It also includes trip cancellation protection, travel and emergency assistance, and worldwide travel accident insurance.
Why you might want the Costco Anywhere Visa® Card by Citi
Costco loyalists on the fence about getting the Costco Anywhere Visa® Card by Citi might be swayed by these features:
It really is an anywhere card. The Costco Anywhere Visa® Card by Citi is an "open-loop" store card, meaning you're not limited to using it only at Costco. In fact, you're rewarded more handsomely for using it elsewhere.
Best-in-class gas rewards. You'd be hard-pressed to find a higher rate on gas. At 4% back on up to $7,000 in gas spending a year, you could earn $280 annually just at the pump. And that's not including the 1% back you'd get on any gas purchases beyond that cap.
Rich rewards on dining and travel. The 3% cash back on dining and travel is unlimited. That's as good as the rate offered by some premium travel cards with annual fees in the hundreds of dollars.
No foreign transaction fees. Unlike many other cash-back credit cards, the Costco Anywhere Visa® Card by Citi charges no extra fee on purchases abroad. If you travel internationally, you'll continue earning rewards without facing a 3% penalty on every purchase you make.
Drawbacks of the Costco Anywhere Visa® Card by Citi
It requires excellent credit for approval. Simply being a Costco member is not enough to qualify.
No sign-up bonus. Costco's annual membership fee — $60 or $120 a year, depending on the type of membership — is a de facto annual fee for this card. Unlike many cash-back cards, the Costco Anywhere Visa® Card by Citi offers no sign-up bonus to offset that cost.
Redemption is restricted. While the card's rewards rates are high, the redemption process is peculiar. With most rewards credit cards, cardholders receive their cash back or points within a billing cycle or two and can redeem them once the rewards post to their account. With the Costco Anywhere Visa® Card by Citi, cardholders receive their rewards once a year in the form of a certificate included with their February billing statement. They can redeem the certificate in Costco stores (not online) before the end of the year for either merchandise or cash back. If cardholders cancel their Costco membership before redeeming the certificate or don’t redeem before the Dec. 31 deadline, they lose those rewards. To recap: You'll have to wait months for your rewards, you'll have to travel to a store to redeem them, and you'll be on the clock to do so. If any of these are dealbreakers, this isn't the card for you.
Limited rewards at Costco itself. Be aware, too, that while the Costco Anywhere Visa® Card by Citi does earn 2% cash back at Costco, other store cards offer higher rewards rates or incentives for shopping with their retailers specifically. For example, the Amazon Prime Rewards Visa Signature Card gives cardholders 5% back on purchases at Amazon, and the Target REDcard offers a 5% discount off almost everything in its stores and online.
Alternatives to the Costco Anywhere Visa® Card by Citi: Other Visa cards
If the Costco Anywhere Visa® Card by Citi doesn't appeal to you but you still want a credit card to use at Costco, keep in mind that your choices are limited to cards on the Visa payment network. Costco accepts only Visa credit cards, along with cash, checks, debit cards, EBT and Costco Cash cards. Visa cards worth a look:
Chase Freedom Unlimited®: This card pays 1.5% cash back on every purchase and has a $0 annual fee. Even better, in the first year you have the card, you get 3% cash back on up to $20,000 in purchases.
Capital One® Quicksilver® Cash Rewards Credit Card: This card pays an unlimited 1.5% cash back on all purchases. The annual fee is $0.
Alliant Cashback Visa® Signature Credit Card: This card earns 2.5% cash back on an ongoing basis and 3% back the first year. It also has an annual fee ($99, waived the first year). It's aimed at those who spend upwards of $50,000 a year on the card. To apply for the card, you first must join Alliant's credit union.
Chase Freedom®: Get 5% cash back in rotating categories that you activate (on up to $1,500 per quarter in spending) and 1% back on all other spending. Wholesale clubs (including Costco) were a bonus category in the fourth quarter of 2018. The annual fee is $0.
Fidelity® Rewards Visa Signature® Card: While you need a Fidelity account to reap these rewards, if you have one, then the card can be an easy way to earn 2% back on every purchase, including at Costco. There's no sign-up bonus or annual fee.
Is the Costco Anywhere Visa® Card by Citi right for you?
If you're an avid Costco shopper who spends a significant amount on gas every year and enjoys travel and dining out, then the Costco Anywhere Visa® Card by Citi probably comes with more benefits than drawbacks. But if you like to shop at a wide variety of grocery stores and prefer rewards that are easier and faster to redeem, you’d probably prefer a flat-rate cash-back card.
Information related to the Amazon Prime Rewards Visa Signature Card and Target's REDcard products has been collected by NerdWallet and has not been reviewed or provided by the issuers of these cards.
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