Our Verdict
With rewards of up to 4% cash back and a $0 annual fee, the Costco Anywhere Visa® Business Card by Citi* (Citi is a Forbes Advisor Partner) knows how to stand out from the crowd. Small business owners earn on Costco purchases, of course, and bonus categories include gas, restaurants and travel. But the card comes with a catch: You must be a Costco member to apply for the card. And rewards are only paid out once a year, in February.
Pros
- Earn 4% cash back on eligible gas and EV charging purchases for the first $7,000 spent per year, 1% thereafter, unlimited 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
- No annual fee with your paid Costco membership
Cons
- Only available to people with paid Costco Business memberships
- No welcome bonus or introductory APR
Highlights
- Earn 4% cash back on eligible gas and EV charging purchases for the first $7,000 spent per year, 1% thereafter
- Earn 3% cash back on restaurants and eligible travel purchases
- Earn 2% cash back on purchases from Costco and Costco.com and 1% cash back on all other purchases
- No annual fee with a paid Costco membership
- No foreign transaction fees
Costco Anywhere Visa Business Card Introduction
Costco sells just about everything, making it the ultimate one-stop shop for small businesses. Members save with the store’s warehouse savings and bulk discounts. Now, with the Costco Anywhere Visa® Business Card by Citi*, they can save even more.
Because the card doesn’t offer a welcome bonus or introductory APR, the main reason to get the card is for substantial reward rates. Ironically, the strongest reward categories on this card are not Costco purchases, as with this card you’ll earn 4% cash back on eligible gas and EV charging purchases for the first $7,000 spent per year, 1% thereafter, unlimited 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.
Unfortunately, the card is only available with paid Costco memberships, which begin at $60 per year. Furthermore, if you cancel your Costco membership, you’ll lose access to your Visa account and any accumulated rewards. Because of this, the card is best for businesses that expect to be loyal to Costco long-term—and your earnings are only paid out once a year in February.
Featured Partner Offers
Quick Facts
- 4% cash back on eligible gas and EV charging purchases for the first $7,000 spent per year, 1% thereafter, unlimited 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
- $0 annual fee with your paid Costco membership
- Foreign transaction fees: None
What Is the Costco Anywhere Visa Business Card Best For?
The Costco Anywhere Visa® Business Card by Citi* is best for small businesses that are loyal to Costco’s bulk discount offerings.
Costco Anywhere Visa Business Card by Citi Rewards
Earning Rewards
Rewards add up quickly with this card thanks to multiple bonus categories and strong earnings rates. Cardholders earn 4% cash back on eligible gas and EV charging purchases for the first $7,000 spent per year, 1% thereafter, unlimited 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. Some purchases are excluded, such as timeshares and campgrounds.
This card is one of the few offering 2% cash back at Costco itself, since most grocery credit cards explicitly exclude warehouse stores. Small businesses that source many of their purchases at Costco will appreciate the extra earnings.
Unlike other store cards, the Costco Anywhere Visa® Business Card by Citi* can be used anywhere Visa is accepted. However, at a paltry 1% cash back, you’re better off using another card for your non-bonused purchases.
Redeeming Rewards
Unfortunately, reward redemptions with the Costco Anywhere Visa® Business Card by Citi* are inflexible. Rewards accrue all year long and are provided as a lump sum with your February statement. They’re issued as a certificate that must be redeemed in a Costco warehouse before they expire on December 31. For example, you accrue rewards from January to December 2024 for a certificate issued in February 2025 that expires December 31, 2025.
On the bright side, you’ll have a sizable return all at once. However, you’ll forfeit all of your earnings if you cancel your Visa—or your Costco membership—before your reward certificate is issued.
Rewards Potential
As always, the potential rewards on this card depend on your annual business spending.
To determine the rewards potential of the card, we calculate what a sole proprietor or small business might spend in its bonus categories. Forbes Advisor uses data from various government agencies to determine annual expenses and spending averages across various categories. Based on the data, we calculate the following rewards potential for a sample small business with income of $118,438 per year.
A small business spending $2,990 on gas or EV charging purchases would earn $119.60 based on 4% earnings. Add in 3% rewards from $4,622 on restaurant spending and $8,573 in travel spending, and you’d net $138.66 and $257.19 back, respectively.
Next, factor in 2% back on $5,432 spent at Costco for $108.64 cash back, and 1% rewards for $17,720 spent on other purchases for $177.20 cash back. That adds up to a total annual reward of $801.29, not counting the Costco membership fee of $60 or $120, depending on your tier.
Other Costco Anywhere Visa Business Card by Citi Benefits
- Purchase protection. Purchases that are damaged or stolen can be refunded or replaced if reported within 120 days of purchase (90 days in New York).
- Extended warranty. Extends the manufacturer’s warranty on eligible purchases.
- Lost baggage protection. If your luggage gets lost in transit, this coverage can reimburse you for missing items.
- Worldwide car rental insurance. Pay with this card and decline the rental company’s insurance.
- Worldwide travel accident insurance. Get travel accident coverage when you put your trip on your Costco business credit card.
- Citi Concierge. A staff of experts can assist with travel, shopping and more.
- Citi Entertainment. Get special access to tickets and exclusive experiences.
Fine Print
Interest Rates
- Regular APR: 20.49% variable APR
Fees
- Annual fee: $0
- Balance transfer fee: N/A
- Foreign purchase transaction fee: None
How the Costco Anywhere Visa Business Card by Citi Stacks Up
Costco Anywhere Visa® Business Card by Citi* vs. Costco Anywhere Visa® Card by Citi*
The business version of the Costco card is nearly identical to the personal Costco Anywhere Visa® Card by Citi*. They offer the same rewards structure and redemption limitations. The main difference is that the personal version of the card allows balance transfers, and the business card does not. However, there are better options for cards offering balance transfers.
As you determine which version of the card is a better fit for you, the main factor is likely whether you anticipate charging personal or business expenses to the card since keeping expenses separate can be important for tax and accounting purposes.
Opening a business card can be crucial toward building small business credit, making it a better choice if all else is equal. Strengthening your business score can eventually lead to loan access or more favorable payment terms with suppliers or merchants. Business cards can also come with higher credit limits, as businesses may need more spending power for inventory or materials.
Costco Anywhere Visa® Business Card by Citi* vs. American Express® Business Gold Card
What if you could earn 4 points per dollar in your two top spending categories instead of just gas? That’s exactly what the American Express® Business Gold Card (Terms apply. See rates & fees) offers. Cardholders earn 4 Membership Rewards® points per dollar on the 2 select categories where a business spends the most each month (up to $150,000 combined purchases per calendar year), 3 points per dollar on flights and prepaid hotels booked on Amex Travel and 1 point per dollar is earned for other purchases.
American Express Membership Rewards are also more flexible than Costco rewards. You can redeem them at your chosen time (rather than once per year) for cash, merchandise or transfers to travel partners. They also never expire as long as an eligible card is open.
You’ll only earn 1 point per dollar spent at warehouse clubs though, and Costco won’t even be one of those: American Express isn’t accepted at Costco. If you spend a fair amount of money there, you may be better off with one of the Costco Visas. Additionally, the Amex Business Gold comes with a hefty $375 annual fee. After accounting for the fee, do the math to see if your potential rewards are still worthwhile.
Costco Anywhere Visa® Business Card by Citi* vs. Amazon Business Prime American Express Card*
If you’re not loyal to Costco, the Amazon Business Prime American Express Card* offers a similar substitute. It offers 5% back in rewards or 90 day terms on eligible U.S. purchases at Amazon Business, AWS, Amazon.com and Whole Foods on the first $120,000 spent in a calendar year with an eligible Prime membership, 1% thereafter. Earn 2% at U.S. restaurants, U.S. gas stations, and on wireless telephone services purchased directly from U.S. service providers and 1% on other purchases.
Cardholders will also have the option to forego the 5% earning rate in exchange for special financing. Between those options, many small businesses can access virtually anything they need.
The Costco card beats the Amazon Business Prime card on restaurants and gas (and 3% on travel), so the better card depends on which categories you spend in. Neither card requires an annual fee as long as you’re a member of their respective programs.
There’s certainly more flexibility with the Amazon Business Prime Card, though. Rewards can be redeemed at any time with no minimum cashout threshold. If you choose to cancel your Business Prime membership, you won’t forfeit the rewards. Instead, your card will be downgraded to the Amazon Business American Express Card* which earns rewards at a lower rate.
Evaluate Credit Cards Side By Side
Is the Costco Anywhere Visa Business Card by Citi for You?
If you shop at Costco regularly, adding its credit card to your wallet might be a natural fit. Considering there’s a $0 annual fee and it’s notoriously difficult to earn 2% at warehouse clubs, this card offers a unique value proposition.
However, the card will only appeal to Costco customers who are the most loyal. Even with competitive earning rates in gas, restaurants and travel, the hassle of redeeming rewards might not be worth it compared to other business credit cards. Cardholders need to be diligent about reward expiration dates. They must also ensure they don’t inadvertently forfeit rewards by canceling their Costco membership or credit card before rewards are issued.
Undoubtedly, the Costco Anywhere Visa® Business Card by Citi* offers compelling rewards. It boils down to whether the hassle of redeeming rewards is too much of a turn-off for your business. If you prefer simplicity, this isn’t the card for you.
Methodology
Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors including:
- Annual fees
- Welcome bonus offers
- Ongoing earning rates
- Value of individual points or miles
- Included travel or merchant credits
- Additional cardholder benefits
Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors came together to provide a star rating for each individual card.
To learn more about our rating and review methodology and editorial process, check out our guide on how Forbes Advisor rates credit cards.
To view rates and fees for the American Express® Business Gold Card please visit this page.
*The information for the following card(s) has been collected independently by Forbes Advisor: Costco Anywhere Visa® Business Card by Citi, Costco Anywhere Visa® Card by Citi, Amazon Business Prime American Express Card, Amazon Business American Express Card. The card details on this page have not been reviewed or provided by the card issuer.
*The information for the following card(s) has been collected independently by Forbes Advisor: Costco Anywhere Visa® Business Card by Citi, Costco Anywhere Visa® Card by Citi, Amazon Business Prime American Express Card, Amazon Business American Express Card. The card details on this page have not been reviewed or provided by the card issuer.
