This Citibank business credit card is designed exclusively for Costco members. The card lets you earn cashback rewards on every purchases, and there is no annual fee with your paid Costco membership.
Costco Anywhere Visa Business Card By Citi review
If you are looking for a credit card designed to earn cashback rewards for your business, the Costco Anywhere Visa Business Card By Citi acts as an ideal solution. Not only does this card earn rewards at Costco, but also anywhere that accepts Visa.
You can expect to earn 4% cashback on eligible gas purchases worldwide, including Costco gas (for the first $7,000 per year and then 1% after that). For restaurant and eligible travel purchases worldwide, you will receive 3% cashback. All purchases from Costco and Costco.com generate 2% cashback, and all other purchases will earn you 1% cashback.
To qualify for the card, you need to be a Costco membership holder.
Benefits of the Costco Anywhere Visa Business Card By Citi
- Annual fee. The Costco Anywhere Visa Business Card By Citi does not charge an annual fee with your paid Costco membership.
- Introductory APR. For the first seven months after the account open date, you can enjoy a 0% introductory APR on purchases.
- Costco credit card. This credit card was designed specifically for Costco members and lets you earn Costco cash rewards everywhere that accepts Visa.
- Redeeming rewards. To redeem your rewards, you will receive a rewards coupon annually in your February billing statement. You can redeem your rewards at a Costco warehouse anytime before Dec. 31 of that year to exchange them for merchandise or cash.
- APR. The purchase APR is variable and can change with the market, but you can expect a current APR of 16.24%. The APR for cash advances is 22.99%. The penalty APR can go up to 29.99%. APR rates are determined by the Prime Rate.
- Purchase protection. The card is covered by purchase protection. You can enjoy an extended warranty, and damage and theft purchase protection.
- Extended warranty. When you make purchases with your Citi card, your manufacturer’s warranties will be extended.
- Damage and theft purchase protection. If the items you bought with your Citi card are damaged or stolen within 120 days of purchase (90 days for New York residents), Citibank’s Damage and Theft Purchase Protection could potentially cover you for a refund or repair.
- Penalty fees. You could pay up to $37 fees for late and returned payments.
- Cash advance transaction fee. Th cash advance transaction fee is $10 or 5% of the cash advance amount (whichever is more).
- Foreign purchase transaction fee. You can expect to pay 3% of the foreign purchase transaction amount in US dollars. There is no fee for purchases made at Costco.
- Credit score. To be approved for the card, you likely need excellent credit.
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How to apply for the Costco Anywhere Visa Business Card By Citi
Applying for this card is easy, and can be done online or by phone. All applicants are required to meet the following eligibility requirements:
- US citizen
- Costco member
- At least 18 years old
The application requires the following information and documentation:
Required documents & information:
- Full name
- Residential address
- Proof of Costco membership
- Phone number
- Social Security number
- Financial information (i.e., annual income)
- Email address
- Proof of employment and income amount
If you are a frequent Costco shopper and are looking to accumulate cashback rewards for your business, the Costo Anywhere Visa Business Card by Citi could be the answer. Before choosing this card, be sure to compare it with other credit card options.