Our Verdict
The Costco Anywhere Visa® Card by Citi*, from our partner, Citi, could stand on its own as a top-tier cash-back credit card. With rewards of 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 and no annual fee with a paid Costco membership, the card is ideal for Costco purchases and everyday spending. However, there are two potential drawbacks: If you cancel your Costco membership, you also lose your Visa card and all your rewards, and rewards are only distributed once annually each February.
Pros
- High rewards rates in bonus categories
- No foreign transaction fee
- Use the Costco Anywhere Visa card as your Costco membership ID
Cons
- Requires an active Costco membership
- Rewards can only be cashed out at Costco via an annual certificate
- Certificate expires at year-end
Highlights
- Earn 4% cash back on eligible gas and EV charging purchases for the first $7,000 spent annually, 1% thereafter
- Earn unlimited 3% cash back on restaurants and eligible travel purchases
- Earn 2% cash back on purchases from Costco and Costco.com and unlimited 1% cash back on all other purchases
- No annual fee with paid Costco membership
- No foreign transaction fees
Costco Anywhere Visa Card Introduction
Costco, in partnership with Citibank, offers the Costco Anywhere Visa® Card by Citi*. The card gives you perks specific to Costco services and products, so if you spend a lot of time or money at your local Costco, this card may be right for you.
Families and small businesses alike can get value from a Costco membership that far outweighs the price of membership, which starts at $60 annually. The ability to purchase large quantities of items all at once and save money while doing so is something many people can appreciate. Costco is unique in that it doesn’t accept every type of credit card. Costco doesn’t accept Discover, Mastercard or American Express in-store, so if you plan to use a credit card, it has to be a Visa.
Quick Facts
- 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
- Use the Costco Anywhere Visa Card as your Costco membership ID
- No annual fee with your paid Costco membership
- Rewards are paid out once annually and are redeemable for cash or merchandise at U.S. Costco warehouses
Compare Costco Anywhere Visa Card By Citi With Other Cards
What Is the Costco Anywhere Visa Card Best For?
The Costco Anywhere Visa® Card by Citi* is best for anyone looking to save money by buying in bulk at Costco. The Costco Anywhere Visa also has decent earnings on gas and EV charging.
Costco Anywhere Visa Card Rewards
Earning Rewards
A Costco member can use the Costco Anywhere Visa® Card by Citi* to 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.
Citi and Costco define eligible gas as those that Visa classifies as a gas station. The rewards program terms state: “You will only earn 1% cash back, not 4% for gas and EV charging purchases made at superstores, supermarkets, convenience stores and warehouse clubs other than Costco or for fuel used for non-automobile purchases.” That means if you go to a gas station that Visa classifies as a convenience store, you will only earn 1% cash back.
The Costco card offers increased cash back on spending at restaurants and eligible travel. Travel purchases that earn extra cash back include airfare, car rentals, cruise lines, Costco Travel purchases, hotels and travel agencies. All travel purchases ineligible for additional cash back such as timeshares, campgrounds, bed and breakfasts, trains and other commuter transportation will only earn 1%.
The same concept applies to restaurants. You will earn only 1% at bakeries, restaurants and cafes inside department stores, grocery stores and other warehouse clubs.
For your shopping trips to Costco and Costco.com, the Costco Anywhere Visa will earn 2%. And on all other purchases that don’t fall under any of the aforementioned categories, the card will earn 1% cash back.
Redeeming Rewards
A major downside of the Costco Anywhere Visa is the hassle required to redeem your rewards. After your February billing statement, you will have until December 31 to redeem your cash rewards earnings from the year before. For example, if you earn cash back in 2024, you can only redeem it between March and December 2025.
Your earnings will be sent as a certificate that you can cash in at your local Costco warehouse. If you cancel your Costco membership, the card will automatically be canceled and you’ll forfeit your cash-back rewards. So, make sure to take this into consideration before you consider canceling either your membership or your Costco Visa.
Rewards Potential
To determine the cash rewards potential of the Costco Anywhere Visa® Card by Citi*, we look at the bonus categories and calculate what an average household might spend in those areas. Forbes Advisor uses data from various government agencies to determine baseline income and spending averages across various categories. The 70th percentile of wage-earning households brings in $118,438 annually and has $39,337 in annual expenses.
Forbes Advisor estimates the average household spends $3,562 on gas, which results in $142.48 cash back annually. The $13,195 on travel and restaurants this household spends would translate to $395.85 cash back. As for groceries, if this household’s $7,243 spending was exclusively at Costco, it would result in $144.86 cash back. The remaining $15,337 in expenses that could be reasonably charged to a credit card would earn $153.37. This means the Citi Costco Anywhere Visa Card would earn $836.56 in cash back per year.
Other Costco Anywhere Visa Card Benefits
The card comes with basic Visa benefits, which include:
- ID Navigator identity theft protections. Enroll in this complimentary service from Norton LifeLock and get credit monitoring and assistance if your identity is compromised.
- Cardholder inquiry service. Get 24-hour access to a Visa representative with any questions about your account.
- Lost or stolen card assistance. You can report your lost or stolen card 24 hours a day, seven days a week. Visa will work with you and your issuing bank to put a hold on your missing account, issue a replacement card or arrange for an emergency cash disbursement.
Fine Print
Interest Rates
- Regular APR: 20.49% variable APR
- Purchase intro APR: N/A
- Balance transfer intro APR: N/A
Fees
- Annual fee: $0
- Balance transfer fee: 5% of each balance transfer; $5 minimum.
- Foreign purchase transaction fee: None
How the Costco Anywhere Visa Card Stacks Up
Costco Anywhere Visa® Card by Citi* vs. BJ’s One+™ Mastercard®*
The BJ’s One+™ Mastercard®* offers higher earnings rates with 5% back in rewards on most purchases at BJ's and 2% back in rewards everywhere else. However, gas at BJ’s will get a $0.15 discount per gallon.
The cash-back rates on this card are comparable to the Costco card, and the gas savings are particularly appealing. But which card is better for you depends on your shopping habits. If you are brand-loyal to either Costco or BJ’s, the card co-branded with the chain where you shop the most will likely net you better rewards. If you’re more fluid in your shopping habits, the Costco card slightly edges out the BJ’s card since its rewards structure on non-warehouse purchases is marginally better.
Costco Anywhere Visa® Card by Citi* vs. Citi Double Cash® Card
The Citi Double Cash® Card earns cardholders 2% cash back on all purchases—1% when purchases are made and another 1% when they’re paid off—no matter the purchase category. Plus, cash back is unlimited.
The only losing feature is that Costco enthusiasts are not maxing out potential rewards as Costco customers with this card—the Citi Double Cash is a Mastercard and Costco only accepts Visa when shopping in-store.
Costco Anywhere Visa® Card by Citi* vs. Bank of America® Customized Cash Rewards credit card
Then there’s the Bank of America® Customized Cash Rewards credit card, which earns 3% cash back in the eligible category of your choice, 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases. If there wasn’t a spending limit, the Customized Cash Rewards card would win this match. But the Citi Costco Anywhere Visa Card could be a better choice for most households as it has less-restrictive caps in fewer spending categories.
Is the Costco Anywhere Visa Card for You?
The Costco Anywhere Visa card is ideal for loyal and long-term Costco members. It offers the highest cash-back rate around on gas and electric vehicle charging at Costco and other stations and has competitive cash-back rates for in-store and online purchases.
A main drawback is you can only redeem your rewards once per year, and we expect most people would benefit from receiving earnings as soon as possible. You also stand to lose out on accrued rewards if you close the card or cancel your Costco membership before the annual reward certificate is issued.
Another drawback is that the card doesn’t function well for commuters because it doesn’t offer bonus categories for transportation-related services not categorized as gas station purchases. If you want extra rewards on trains, ferries and buses, the Costco credit card is not your best choice. Be mindful of where you shop so you know if you’ll be able to earn the maximum rewards on shopping categories outside Costco purchases.
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 come 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.
Frequently Asked Questions (FAQs)
How do I apply for the Costco Anywhere Visa card?
You may apply for the Costco Anywhere Visa card online, by phone or in-store. If you wish to apply over the phone, call 800-259-3052. Alternatively, you can visit a membership counter at any Costco store and request an application. You must be a Costco member to receive your card. So if you’re not already, you’ll want to pay the membership fees, which you can also do online, over the phone or in-store.
What credit score do you need to get the Costco Anywhere Visa card?
Though Citi doesn’t publish a minimum credit score requirement, it’s likely you’ll need excellent credit to qualify for the Costco Anywhere Visa® Card by Citi*. No credit score is a guarantee of approval. You may be approved with a low score, but we’d suggest you improve your credit until your score is above at least 740 on the FICO scale.
Is it hard to get a Costco credit card?
The Costco Anywhere Visa® Card by Citi* likely requires excellent credit for approval which can make it difficult. It also requires cardholders to be Costco members, providing an additional $60 per year cost barrier to account ownership.
Can I use my Costco Visa card anywhere?
The name implies you can use the Costco Anywhere Visa Card anywhere, but as a Visa network card, the card may only be used anywhere Visa cards are accepted.
*The information for the following card(s) has been collected independently by Forbes Advisor: Costco Anywhere Visa® Card by Citi, BJ’s One+™ Mastercard®. The card details on this page have not been reviewed or provided by the card issuer.
