Costco Anywhere Visa Business Card By Citi | finder.com

Costco Anywhere Visa® Business Card By Citi review — June 2018

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An excellent cashback business card designed exclusively for Costco members.

30-second take

  • Get this card if you’re a Costco member and want cashback rewards on your business spending.
  • Pick something else if you want travel rewards or don’t have solid credit.
  • Apply with an excellent credit score of 740 or higher.
Product NameCostco Anywhere Visa® Business Card
APR for Purchases ( Purchase Rate )16.74% variable
Annual fee$0
Cash Advance Rate23.49% variable
Card TypeVisa
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 23 days
Returned Payment Fee$0
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
0% of transaction value
Minimum Interest$0.50
Minimum Credit ScoreExcellent (740+)
Minimum Age18 years of age
Annual fee$0
Returned Payment Fee$0
Late Payment Fee$37
Cash Advance Fee$10 or 5% of each transaction, whichever is greater

The basics

The Costco Anywhere Visa® Business Card by Citi offers many perks to the Costco devotee — in fact, you’ll pay a $0 annual if you have a Costco membership.

The card focuses on one standout feature: excellent cashback rewards. The stars of the show are its 4% cash back on gas on up to $7,000 in eligible purchases each year. After that, your rate reverts to 1%. You’ll also get 3% back on restaurant and travel purchases.

If your business spends heavily in those categories, the Costco Anywhere Visa® Business Card by Citi can be a cashback machine. If you spend often at Costco — and you likely do if you’re looking at this card — you’ll get 2% cash back on Costco and Costco.com purchases.

The perks

  • Annual fee: $0 with your paid Costco membership.

    The Costco Anywhere Visa® Business Card by Citi can be a valuable sidekick to your Costco membership. You can only get the card if you’re a Costco member.

    Costco memberships start at $60 a year for Gold Star and Business memberships. For an Executive membership, you’ll pay $120 a year. Each membership results in a $0 annual fee for the card.

  • 4% cash back on gas.

    The Costco Anywhere Visa® Business Card by Citi is an excellent choice for gas rewards: You’ll get 4% cash back on gas, including gas you buy at Costco, on up to $7,000 in eligible purchases each year. After that, you’ll earn 1%.

    That’s a better rate than cards like the Chase Ink Business Cash℠ Card, which offers 2% cash back on up to $25,000 in gas purchases each year and 1% after, or the Business Gold Rewards Card from American Express that offers 3x points on up to $100,000 in gas purchases each year before dropping to 1x points.

  • Earn cash back on all other purchases.

    You’ll get 3% cash back on restaurant and travel purchases — also better than many travel credit cards. For example, the Chase Sapphire Preferred® Credit Card offers 2x points on dining and travel — which comes to a 2.5% rewards rate when you redeem points through Chase Ultimate Rewards.

    Earn 2% cash back on purchases from Costco and Costco.com, and 1% back on all other purchases.

You’ll also like …

  • No foreign transaction fees.

    You won’t pay a transaction fees when you use your card abroad or on foreign websites. Typically, providers charge a fee equal to 3% of each international transaction. It doesn’t sound like much, but it can add up over a trip spanning several days.

    Because the Costco Anywhere Visa® Business Card by Citi comes with no foreign transaction fees, it’s an excellent card to take on vacation or business trips.

  • Purchase protection and extended warranties.

    If eligible items you buy with your Costco Anywhere Visa® Business Card by Citi are damaged or stolen within 120 days of purchase (90 days for New York residents), Citibank may cover you for a refund or repair. It may also extend manufacturer’s warranties on eligible purchases.

  • Travel protection.

    The Costco Anywhere Visa® Business Card by Citi comes with collision loss and damage insurance, which covers your rental vehicles. You can often decline the insurance offered at car rental agencies when you have this benefit.

    Before or during a trip, you can contact Citi for travel and emergency assistance. This includes help with travel arrangements, medical issues, legal referrals and more. You and your family are also protected by Citi’s Worldwide Travel Accident Insurance, which offers coverage on reservations fully paid for with your card.

What to watch out for

  • You can only redeem rewards once a year.

    With most credit cards, you can redeem rewards whenever you want. The Costco Anywhere Visa® Business Card by Citi limits rewards payouts to just once a year.

    Your rewards arrive after the close of your February billing statement in the form of an annual credit card reward certificate. Redeem the certificate for cash or merchandise at US Costco warehouses.

  • No signup bonus.

    A signup bonus is a one-time deal, but it’s a nice sweetener when you open your card. Unfortunately, the Costco Anywhere Visa® Business Card by Citi doesn’t offer one.

  • High penalty APR.

    If your payment is late or returned, Citi may impose a penalty APR of up to 29.99% variable on all of your balances.

  • Transaction fees.

    For each cash advance, you’ll pay $10 or 5% of each transaction, whichever is greater. This is higher than the average cash advance fee, which is typically around 3%.

  • Penalty fees.

    For each late or returned payment, you’ll pay a fee of up to $37. To avoid penalty fees, consider setting up autopay.

Consider other cards if …

  • You’re not a Costco member — and you don’t plan on becoming one.

    The Costco Anywhere Visa® Business Card by Citi is available only to Costco members. If you don’t want to become a Costco member, check out the Uber Visa Card, which offers strong cash back. You might also like the Bank of America® Cash Rewards Credit Card, which offers solid cash back on everyday spending.

  • You want a signup bonus.

    Many business cards offer strong signup bonuses, such as the Ink Business Preferred credit card, Chase Ink Business Cash℠ credit card and Capital One Spark® Cash for Business.

  • You want travel rewards.

    The Ink Business Preferred℠ credit card is a fantastic choice to satisfy your need for travel rewards. It offers up to 3x points in select categories, and you can redeem your points for airfare, hotels, car rentals and more through Chase Ultimate Rewards.

    If you want premium travel perks, consider the Business Platinum Card® from American Express. It offers 5x points on flights and prepaid hotels booked through American Express Travel. And it includes benefits like an airline fee credit, automatic Gold status in Hilton Honors and Starwood Preferred Guest and complimentary admission to the best-in-class Centurion® Lounges.

  • You want flat rewards on all spending.

    You might like the Capital One Spark® Cash for Business for a more predictable reward amount. It offers 2% cash back on all spending.

  • You don’t spend much on gas, dining, travel or Costco purchases.

    Other cards like the Chase Ink Business Cash℠ credit card and SimplyCash® Plus Business Credit Card from American Express offer accelerated cash back in other business categories.

Compare other Citi credit cards

Rates last updated June 19th, 2018
Name Product APR for Purchases ( Purchase Rate ) Intro APR for Balance Transfer Annual fee Product Description
Citi® Double Cash Card
14.99% to 24.99% variable
$0
Earn 1% cash back for payments on purchases, on top of the 1% cash back on purchases. No annual fee.
Citi ThankYou® Preferred Card
14.99% to 24.99% variable
0% Intro APR for 15 months (with whichever is greater, $5 or 3% balance transfer fee)
$0 annual fee for the first year ($0 thereafter)
Enjoy our low intro APR for 15 months on purchases and balance transfers.
Citi® Secured Mastercard®
23.99% variable
$0
Start building credit for tomorrow with a secured credit card.
AT&T Access Card from Citi
15.49% to 24.49% variable
$0
Get rewarded for purchases you're already making with the AT&T Access Card, a top rewards credit card from Citi. Apply for the AT&T credit card today and start earning ThankYou® Points redeemable for gift cards, travel rewards electronics and much more.
Citi Simplicity® Card
15.49% to 25.49% variable
0% Intro APR for 18 months (with whichever is greater, $5 or 5% balance transfer fee)
$0
This is the only card with No Late Fees, No Penalty Rate and No Annual Fee - Ever. Give it a try and apply to find out what the Citi Simplicity® Card can do for you.
Citi Prestige® Card
17.24% to 25.24% variable
$450
Complimentary 4th night stay at any hotel of your choice after a minimum 4-consecutive night booking through ThankYou.com
Costco Anywhere Visa® Card by Citi
16.74% variable
$0
Earn Costco cash rewards everywhere Visa® is accepted.
Citi® Diamond Preferred® Card
14.49% to 24.49% variable
0% Intro APR for 21 months (with whichever is greater, $5 or 5% balance transfer fee)
$0
Lowest intro APR for 21 months plus VIP Access.
Citi® / AAdvantage® Executive World Elite™ Mastercard®
17.24% to 25.24% variable
$450
Earn 50000 American Airlines AAdvantage® bonus miles after making $5,000 in purchases within the first 3 months of account opening.
Citi® / AAdvantage®  Platinum Select®  World Elite™ Mastercard®
17.49% to 25.49% variable
$0 annual fee for the first year ($99 thereafter)
Earn 60000 AAdvantage® bonus miles after you spend $3,000 in the first 3 months.
AT&T Universal Savings and Rewards
13.99% to 23.99% variable
0% Intro APR for 12 months (with whichever is greater, $5 or 3% balance transfer fee)
$0
Earn 10000 bonus ThankYou Points after spending $500 in your first 3 months.
AT&T Universal Savings Platinum
13.99% to 23.99% variable
0% Intro APR for 15 months (with whichever is greater, $5 or 3% balance transfer fee)
$0
Citi ThankYou® Preferred Card for College Students
15.99% to 25.99% variable
$0
Earn 2500 bonus points after spending $500 within the first 3 months of account opening.
Citi® / AAdvantage® Gold World Elite™ Mastercard®
17.49% to 25.49% variable
$0 annual fee for the first year ($50 thereafter)
Earn 25000 American Airlines AAdvantage® bonus miles after you spend $750 in purchases within the first 3 months of account opening.
Citi ThankYou® Premier Card
15.99% to 24.99% variable
$0 annual fee for the first year ($95 thereafter)
Enjoy Great Rewards and Earn ThankYou® Points on Dining, Entertainment, Travel and more

Compare up to 4 providers

What size business is the Costco Anywhere Visa® Business Card by Citi good for?

The Costco Anywhere Visa® Business Card by Citi can be valuable for businesses of all sizes. If you regularly purchase business goods at Costco, the card can help you offset a big chunk of your expenses.

The card comes with a helpful $0 annual fee for Costco members. And because rewards come in the form of cash back or a certificate to spend at Costco, they’re almost always useful. The same can’t be said for an airline card, for example, which might limit your points redemption to airfare.

What should I know before I apply?

Apply for the Costco Anywhere Visa® Business Card by Citi if you’re:

  • A US citizen or permanent resident.
  • A Costco member.
  • At least 18 years old.

Information you’ll need

  • Your name, residential status and residential address.
  • Your Social Security number and date of birth.
  • Your email address and phone number.
  • Financial information like your annual income and source of income.
  • The name of your business, its mailing address and its employee count.
  • Your years in business and annual business revenue.
  • Your tax identification number.

What’s my likelihood of approval?

You have a better chance of approval for this card if you run a healthy business and apply with an excellent credit score of 740 or higher.

Other factors that might affect your odds of approval include:

  • The number of hard pulls on your credit report.
    If you have several hard inquiries — or hard pulls — on your account, Citi might consider you desperate for credit or as a business that’s having trouble managing debt.
  • Factors that tie into your credit score.
    Credit utilization is a major factor Citibank considers. The bank prefers a customer with low balances relative to their credit limit. Having many new card accounts also may be considered a red flag, as it could indicate you’re desperate for credit. It may also give the impression that you’re a flighty customer who’s just hunting for signup bonuses.

Always consider your options and your financial situation before you apply for a credit card.

What do customers say about the Costco Anywhere Visa® Business Card by Citi?

Most customers say they love the Costco Anywhere Visa® Business Card by Citi’s strong cash back. However, many cardholders say they’ve found Citi customer support unhelpful.

Citi earns a Trustpilot score of 3.9 out of 10 at the time of this writing. Some negative reviews cite unsatisfactory responses to fraud complaints and rude customer service.

Citi is not accredited by the Better Business Bureau and currently earns an F rating from the agency. Your mileage with Citi’s customer support may vary.

How to apply for the Costco Anywhere Visa® Business Card by Citi

  1. On the Citi website, click Apply now.
  2. Complete the application with your personal, financial and business details.
  3. Confirm that the information you’ve provided is correct and click Submit.

How long will it take to get my Costco Anywhere Visa® Business Card by Citi?

Because conditional credit card approval is automated on the website, you may get a decision on your application within minutes. If there are issues with your application, it could take a few days to a few weeks to hear back.

After you’re approved, you’ll typically receive your card within 7 to 10 business days.

I got the card. Now what?

  • Make timely payments.

    Pay your card bill online using the Citi website, where you can enroll in autopay.

  • Avoid interest.

    After the close of each billing cycle, you have a grace period of at least 23 days to pay your balance. If you do, you won’t pay interest on your purchases.

  • Avoid fees.

    Late and returned payments come with fees of up to $37. The cash advance fee is $10 or 5% of each transaction, whichever is greater.

  • Contact customer service.

    If you have questions, contact Citibank customer support at 1-800-950-5114.

Bottom line

The Costco Anywhere Visa® Business Card by Citi offers robust cash back if you spend heavily on gas, restaurant, travel or Costco purchases. It’s an especially good choice if you already have a Costco membership, offering a $0 annual fee to members.

Frequently asked questions about the Costco Anywhere Visa® Business Card by Citi

Adrienne Fuller

Adrienne Fuller leads the publishing team at finder.com. She has one goal: to deliver the accurate and transparent information she wishes she had when she made some of life's important financial decisions. When she's not helping folks save money, she's hiking with her two Catahoulas around her home in San Diego.

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