Best Credit Cards For Costco May 2024

With elevated earnings on all purchases, including Costco, the Capital One Venture X Rewards Credit Card (rates & fees) might be worth keeping in your wallet. This premium travel rewards card charges a high annual fee but includes a wealth of benefits that can justify the cost.

Rewards: Earn 2 miles per dollar on all eligible purchases, 5 miles per dollar on flights booked through Capital One Travel, 5 miles per dollar on Capital One Entertainment purchases through 12/31/25 and 10 miles per dollar on hotels and rental cars when booking via Capital One Travel.

Welcome offer: Earn 75,000 bonus miles after spending $4,000 on purchases within the first three months of account opening.

Annual fee: $395

Other benefits and drawbacks: Along with a steady earn rate on purchases, the Capital One Venture X Rewards Credit Card offers a $300 annual credit for travel booked through the Capital One Travel portal and 10,000 bonus miles each year. Access to its global Partner Lounge Network and the growing list of swanky Capital One lounges are also included. Authorized user cards are free, and those cardholders get access to benefits like lounges and Hertz President’s Circle status.

The annual fee on this card is easily offset with the benefits mentioned above, and it’s lower than fees on similar premium cards it competes with.

Capital One points are relatively easy to redeem in a few different ways including simply redeeming points for travel purchases. One unique way to redeem points with Capital One is to purchases at a ratio of 1:1. The biggest drawback with the Venture X is that, unlike other issuers, there are no domestic airline partners with Capital One.

If saving on travel is your goal, using the Chase Sapphire Preferred® Card for Costco purchases can help you work toward that end. With its low annual fee, respectable welcome bonus and above-average redemption options, this card is widely regarded as one of the best for anyone just wading into the travel rewards space.

Rewards: Earn 5 points per dollar on travel purchased through Chase Travel℠, 3 points per dollar on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per dollar on all other travel purchases and 1 point per dollar on other purchases.

Welcome offer: Earn 75,000 bonus points after spending $4,000 on purchases in the first three months from account opening.

Annual fee: $95

Other benefits and drawbacks: Chase makes it easy to redeem rewards at a rate above 1:1 by offering a 25% bonus when booking travel through its travel portal. That means the welcome bonus would be worth several hundred dollars when redeemed through Chase Travel.

Transferring Ultimate Rewards® to travel partners like World of Hyatt and Air France Flying Blue can offer even more value for points.

Other travel benefits like primary coverage for car rentals, trip cancellation and trip interruption insurance, baggage delay insurance and trip delay reimbursement make this one of the most comprehensive travel rewards cards available. Additionally, Chase has added a $50 annual hotel credit for stays purchased through Chase Travel and you’ll pay no foreign transaction fees when using the card abroad.

The U.S. Bank Altitude® Reserve Visa Infinite® Card* has an exceptional earn rate when it comes to mobile wallet spending. Those comfortable with using a mobile wallet and putting in a bit of legwork on the redemption side could see value from this card.

Rewards: Earn 5 points per dollar on prepaid hotels and car rentals booked directly in the Altitude Rewards Center, 3 points per dollar on eligible travel purchases and mobile wallet spending and 1 point per dollar on all other eligible net purchases.

Welcome offer: Earn 50,000 points after spending $4,500 in the first 90 days of account opening.

Annual fee: $400

Other benefits and drawbacks: Even with a high annual fee, this card looks like an easy winner offering 3 points per dollar on all mobile wallet spending—including Costco. Other benefits include a $325 travel credit annually and eight free Priority Pass airport lounge visits per year.

If you’re comfortable with mobile wallet payments and value cash back over travel rewards, the card allows you to redeem rewards as a statement credit or earnings can go directly into an eligible U.S. Bank account.

One limitation on the redemption side is the absence of any transfer partners for travel. On the other hand, you can book travel with a 50% bonus through the Altitude Rewards Center. Redemption options include airfare, hotels, car rentals, cruises and other select activities.

The Bank of America® Customized Cash Rewards credit card for Students is unique in that the card offers a bonus for spending at grocery stores and wholesale clubs. Most cards that include a bonus for grocery shopping specifically exclude wholesale clubs like Costco.

Rewards: Earn 3% cash back in the category of choice and an automatic 2% at grocery stores and wholesale clubs. Bonus earning is limited to the first $2,500 in the 3% and 2% categories combined each quarter. Earn an unlimited 1% on all other purchases.

Welcome offer: Earn $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of account opening.

Annual fee: $0

Other benefits and drawbacks: While the bonus rewards for specific categories are valuable, take note that there is a cap on the first $2,500 in spending each quarter. The card offers substantial time to pay a large balance with a 0% introductory APR for 15 billing cycles on purchases and balance transfers made in the first 60 days, after that a variable APR of 19.24% - 29.24% applies. There's a 3% balance transfer fee for 60 days from account opening, then 4%.

Redemptions are kept simple, with a few distinct options. One being that rewards can be used to contribute to a 529 account with Merrill. Automatic deposits can be set up starting at a minimum of $25 to a Bank of America checking or savings account or a qualifying Cash Management Account® with Merrill.

The Wells Fargo Active Cash® Card’s elevated rewards offering and generous intro APR make it a compelling option for Costco shoppers. Add to that an easy-to-earn welcome bonus with no annual fee, and the card makes even more sense.

Rewards: Earn 2% cash rewards on purchases.

Welcome offer: Earn $200 cash rewards bonus after spending $500 in purchases in the first 3 months.

Annual fee: $0

Other benefits and drawbacks: The earning rate on this card makes it stand out compared to others that have a cap on bonus earning. If you plan to make a large, expensive purchase and need time to pay it off, you’ll have some breathing room with the 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers, then a 20.24%, 25.24%, or 29.99% variable APR applies. Balance transfers made within 120 days qualify for the intro rate and fee of 3% then a fee of up to 5%, with a minimum of $5 applies.

Cardholders can get up to $600 in cellphone protection when paying their monthly bill with the card, something uncommon on cards with no annual fee (terms apply).

Costco only accepts Visa in person, but if you shop online at Costco.com, the Citi Double Cash® Card can help earn points quickly with an attractive flat earn rate.

Rewards: Earn 2% cash back on all purchases—1% when purchases are made and another 1% when they’re paid off.

Welcome offer: $200 cash back after spending $1,500 on purchases in the first 6 months of account opening, fulfilled as 20,000 ThankYou® Points.

Annual fee: $0

Other benefits and drawbacks: There is no cap on the amount of cash you can earn as long as you pay at least the minimum due on time each month. With no bonus categories to track, the Citi Double Cash® Card acts as a “set it and forget it” card.

Redemptions on this card are pretty standard, but if you don’t hold an eligible Citi travel card like the Citi Premier, the Citi Double Cash® Card’s points can only transfer to three of Citi’s more than 15 partners. Those transfer partners are JetBlue Airways True Blue, Choice Privileges Rewards and Wyndham Rewards.

The Costco Anywhere Visa® Card by Citi* is one of the strongest earning cards for gas and EV charging purchases, even outside of Costco, and gets an excellent flat rate on all in-store Costco and online Costco.com purchases. If you are a Costco Executive member, there is an opportunity for even more rewards. For business owners, the Costco Anywhere Visa® Business Card by Citi* is almost identical and can help keep expenses separate.

Rewards: Earn 4% cash back on eligible gas and EV charging purchases for the first $7,000 spent annually, 1% thereafter, 3% cash back on restaurants and eligible travel purchases, 2% cash back on purchases from Costco and Costco.com and 1% cash back on all other purchases. A Costco membership is required to apply.

Welcome offer: This card does not offer a welcome bonus.

Annual fee: $0

Other benefits and drawbacks: Don’t forget that Costco sells gas, so plan to fill-up your tank there to max out the bonus rate on eligible gas spending.

Enroll as an Executive level member of Costco, and you can earn another 2% back up to a maximum of $1,000 in rewards each membership anniversary year (not calendar year). These earnings are in addition to the 2% earned just for using the Costco Anywhere Visa® Card by Citi*. Costco Executive Membership costs $120 per year.

One downside is that the rewards are issued only once a year and come in the form of a certificate that can be redeemed for Costco purchases, or you can redeem for cash in a Costco warehouse. You’ll also need to have a membership with Costco to be eligible for this card.

The Capital One Venture Rewards Credit Card (rates & fees) may not include all of the benefits of its big sibling, the Capital One Venture X Rewards Credit Card, but it still packs a punch for a card with a moderate annual fee and solid flat-rate rewards everywhere, including Costco.

Rewards: Earn 5 miles per dollar on hotels and rental cars booked through Capital One Travel, 5 miles per dollar spent on Capital One Entertainment purchases through 12/31/25 and an unlimited 2 miles per dollar spent on other purchases.

Welcome offer: Earn 75,000 miles once you spend $4,000 on purchases within 3 months from account opening.

Annual fee: $95

Other benefits and drawbacks: The rewards and benefits offered on the Capital One Venture Rewards Credit Card might seem out of balance with the annual fee—in a good way.

If you like to use rewards for travel, the Capital One Venture Rewards Credit Card stacks up well. Cardholders can get a credit of up to $100 to cover Global Entry or TSA PreCheck®, and, like the Venture X, you can transfer to any of Capital One’s 15-plus air and hotel partners like British Airways Executive Club and Wyndham Rewards.

Business owners will want to consider the Ink Business Unlimited® Credit Card for its heightened earnings on all purchases, including Costco, and the versatility of Chase Ultimate Rewards for redemptions. Because many business owners make purchases for their businesses at Costco, having a card like this can be vital to keeping personal and business expenses separate.

Rewards: Earn 1.5% cash back rewards on every business purchase.

Welcome offer: Earn $750 bonus cash back after spending $6,000 on purchases in the first 3 months from account opening.

Annual fee: $0

Other benefits and drawbacks: In addition to the respectable flat earning rate, this card also offers 0% introductory APR for 12 months on purchases, then a 18.49% - 24.49% variable APR applies for purchases and balance transfers. A balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater, applies. The welcome bonus is one of the highest available for a no annual fee card, and the spending requirement is relatively reasonable, especially for a business card.

If the rewards from this card are combined with a premium Ultimate Rewards-earning Chase card like the Ink Business Preferred® Credit Card or Chase Sapphire Preferred® Card, the redemption value and options increase further.