A superb cashback card for gas, dining and travel — plus solid rewards for Costco purchases.
- Get this card if you want great cash back on gas, dining, travel and Costco purchases.
- Pick something else if you want an intro APR or signup bonus.
- Apply with an excellent credit score of 740 or higher.
|Product Name||Costco Anywhere Visa® Card by Citi|
|Standard purchase APR||17.24% variable|
|Intro purchase APR|
|Standard balance transfer APR||17.24% variable|
|Intro balance transfer APR|
|Balance transfer fee||$5 or 3% of the transaction, whichever is greater|
|Cash advance rate||27.24% variable|
|Cash advance fee||$10 or 5% of the cash advance amount, whichever is greater|
|Foreign transaction fee||None|
|Interest free period||Up to 23 days|
|Late payment fee||Up to $37|
|Returned payment fee||Up to $37|
|Additional cardholder fee||$0|
|Minimum Age||18 years of age|
|Rewards||4% at gas stations on up to $7,000 annually (then 1%), 3% at restaurants and on travel, 2% at Costco and 1% on all other purchases|
|Base Rewards||1% cash back|
|Rewards Points Expiry||Never|
The Costco Anywhere Visa® Card by Citi keeps the focus squarely on excellent rewards. You’ll receive impressive cash back on gas, and the cash back on dining and travel beats earnings from the vast majority of cards. Not to mention you’ll get a solid accelerated rewards rate on Costco purchases.
Keep in mind you can’t redeem rewards whenever you want; they’re distributed annually. If you spend in the right categories and can wait to redeem rewards, this could be one of the best cashback cards you’ve seen yet.
Another card for everyday use
Blue Cash Everyday® Card from American Express
Annual fee: $0 with paid Costco membership.
If you’re not a Costco member, you can purchase a membership online for $60.
Rewards: Great cash back on gas, travel, dining and Costco purchases.
You’ll earn up to 4% cash back when you use your card. Receive your rewards in the form of an annual reward certificate after the close of your February billing statement. Anytime through December 31 of that year, you can redeem the certificate for cash or merchandise at US Costco stores.
Here are the rewards you'll earn with the Costco Anywhere Visa® Card by Citi
- 4% cash back on gas. When you use your card to purchase eligible gas — including gas at Costco — you’ll receive 4% cash back. This rate applies to the first $7,000 you spend for the year, after which it changes to 1%.
- 3% cash back on restaurants and travel. You’ll earn 3% cash back on eligible dining. This rate also applies to travel purchases, such as airfare, hotels, cruises and car rentals.
- 2% cash back on purchases from Costco and Costco.com. Receive 2% cash back on purchases at Costco warehouses and at Costco.com.
- 1% cash back on everything else. You’ll earn rewards, no matter what you spend on.
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The Costco Anywhere Visa® Card by Citi doubles as a Costco membership ID.
Typically, shoppers need to show their Costco membership cards to enter Costco. As a cardholder, you can simply show your credit card for entry.
No foreign transaction fees.
Take the Costco Anywhere Visa® Card by Citi on vacation and don’t worry about paying fees for foreign purchases.
You’ll receive travel services like accident insurance, car rental insurance, trip cancellation protection, travel assistance and emergency assistance.
With Citi’s purchase protection, you’ll receive extended warranties on your eligible purchases. You’ll also receive damage and theft protection eligible items purchased with your card.
Case study: Britny’s experience
The rewards are great, such as 4% back on gas purchases (capped at $7,000, then decreases to 1% cash back), but they’re only issued once per year in February — and the rewards are forfeited if you cancel your Costco membership before then. If you stay a member long enough to get the rewards, they can be redeemed for merchandise purchases or cash.
How much cashback rewards can I earn with the Costco Anywhere Visa® Card by Citi?
Here’s the cash back you might earn if your family spends these amounts in different categories each year:
- $3,000 on gas x 4% = $120
- $5,000 on travel and restaurants x 3% = $150
- $5,000 at Costco x 2% = $100
- $7,000 on other purchases x 1% = $70
That would be $440 cash back for the year.
How much do I have to spend to make the annual fee worth it?
You’ll need a Costco membership to apply for the Costco Anywhere Visa® Card by Citi. If you don’t plan on ever going to Costco, that essentially means you’re paying a $60 annual fee for your credit card.
You can offset this fee by spending $1,500 on gas, which earns 4% cash back. You can also offset it by spending $2,000 on dining and travel, which earns 3% cash back.
What to watch out for
Redeeming Costco Cash Rewards.
You can’t redeem your rewards whenever you’d like. Instead, you’ll receive a coupon every year with your Costco Cash Rewards.
Penalty APR for late payments.
Making a late or returned payment may result in a penalty APR being applied to your account. This APR may be as high as 29.99% variable, applies to all of your balances and may last indefinitely.
Balance transfer restrictions.
If you’d like to initiate any balance transfers, you need to complete them within 2 months of your account opening.
Higher interest rate and fee for cash advances.
Taking out cash advances comes with a 27.24% variable APR and a fee of $10 or 5% of the amount of each cash advance, whichever is greater.
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What should I know before I apply?
You may only apply for the Costco Anywhere Visa® Card by Citi if you’re at least 18 years old.
Required documents and information
- 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 salary.
What credit score do I need?
Citi is more likely to approve you if you apply with an excellent credit score of 740 or higher.
What do customers say about the Costco Anywhere Visa® Card by Citi?
Some customers warn that Citi will close your account if you cancel your Costco membership.
Happy customers say the card offers great cash back. Unhappy users say Citi customer support is unhelpful, and Costco staff may not be able to help you with your credit card.
Citi isn’t accredited by the Better Business Bureau (BBB). Because it’s failed to respond to 75 complaints, it’s received an F rating from the agency. The average of its 100-plus customer reviews hovers around 1 out of 5 stars. As of this writing, it has nearly 4,000 customer complaints that are mostly listed as answered or resolved.
Overall, it seems the customer consensus is you’ll likely enjoy a fairly robust rewards structure but you may not have the best customer service experience.
How to apply for the Costco Anywhere Visa® Card by Citi
- Head to the Citi website and click Apply now.
- On the application form, fill in your name, Social Security number, contact details and financial information.
- Agree to Citi’s terms and conditions, privacy notice and cardmember agreement.
- Review your information and click Submit.
How long will it take to get my Costco Anywhere Visa® Card by Citi?
Many customers have reported they’ve received immediate decisions on their applications. In some cases, you’ll need to wait a few business days while Citi manually reviews your application.
If you’re approved, look for your welcome materials and card in the mail within 7 to 10 business days.
I got the card. Now what?
Make payments on time.
You can register for an online account on the Citi website. It will let you check your account balance, pay your bill electronically and set up automatic payments.
The card comes with a 17.24% variable APR for purchases and balance transfers. That’s around the average credit card APR. Still, consider paying off your balances in full each month to avoid accruing interest.
You’ll incur fees for balance transfers and cash advances. For each late or returned payment, you’ll pay a fee of $37.
Contact customer service.
If you have questions about your card, you can log in to your Citi account and chat with a representative. You can also call the number on the back of your card to reach the Citi Cards general support line.
How do I redeem rewards from the Costco Anywhere Visa® Card by Citi?
After you receive your credit card reward certificate, simply use it when you’re paying for your Costco purchases. If you don’t use its entire balance, you’ll get the remaining amount in cash while you’re checking out.
If you’re in the market for a strong cashback card, the Costco Anywhere Visa® Card by Citi could be a great choice. It offers impressive rewards on gas, dining and travel, and you’ll earn solid cash back on Costco purchases.
If you don’t spend much in the card’s elevated-rewards categories, you may earn more rewards with another cashback card.