Wholesale clubs like Costco are a go-to for many when it comes to groceries, household items, prescriptions, electronics, and even car tires.
If you’re a Costco shopper, you’ve probably heard about its store-branded credit card and might be wondering: is it worth it? Can it really save more money?
We aim to answer that question with this review as we cover the Costco Anywhere card in-depth. We’ll outline its benefits, cash rewards program, fees, drawbacks, and more.
By the end of the article, you should have a good idea if this is a smart card for your wallet.
Costco Anywhere Card at a Glance
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Costco Anywhere Card | |
Main benefits |
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Annual fee | $0 (Costco membership required) |
The Costco Anywhere card is a cash-back credit card issued by Citibank. The Costco Anywhere Visa® Business Card by Citiis available for those interested in a business version of the card.
While the annual fee is technically $0, cardholders must have a valid Costco membership to apply.A basic annual Costco membershipis $60. Cardholders must keep their Costco membership open and in good standing to earn benefits and redeem rewards.
Once you receive your Costco Anywhere card, it can be used in place of your membership card, so you don’t have to carry around 2 different cards when you shop.
Costco Cash Rewards (Benefits In-Depth)
The benefits of the Costco Anywhere card are great for a cash-back card. The tiered bonus categories highlight everyday purchases where some cardholders may allocate a majority of their yearly spend, including gas, restaurant, travel, and Costco purchases.
The primary cardholder may add authorized users to the card. Authorized users are eligible to earn Costco Cash Rewards, which areadded to the rewards total of the primary cardholder.
Gas
Cardholders receive 4% cash-back on up to $7,000 in gas purchases and EV charging purchases. After you reach the $7,000 threshold, cardholders earn 1% cash-back on all additional gas purchases for that year.
Hot Tip:The 4% cash-back does not apply to fuel purchased at superstores, supermarkets, convenience stores, and warehouse clubs other than Costco. Additionally, it does not apply to fuel used for non-automobile purposes — you’ll only receive 1% for these purchases.
Dining and Travel
Cardholders will receive 3% cash-back on dining and travel purchases.
Dining rewards include purchases made at restaurants, cafes, lounges, fast food restaurants, and bars. Similar to the fuel exception, the 3% cash-back does notapply to dining at locations within grocery stores, department stores, supercenters, or other wholesale clubs. You’ll only get 1% at those establishments.
Travel rewards apply to all eligible travel purchases worldwide (without any foreign transaction fees!), which includes airfare, hotels, car rentals, cruise lines, travel agencies, and Costco Travel.
Costco and Costco.com Purchases
For frequent Costco shoppers, a big perk of this card is the 2% cash-back on all Costco and Costco.com purchases. This is a nice benefit compared to the Sam’s Club credit card that doesn’t reward its cardholders with any type of bonus for spending at Sam’s Club or Walmart.
All Additional Purchases
Costco Anywhere cardholders will receive 1% cash-back on all additional purchases where Visa is accepted.
Bonuses
At times, the rewards program may offer bonuses and special offers, such as an increased cash-back rate when you make specific purchases.
In the past, special bonuses have included offers such as the above offer on Samsung TVs and an offer for $100 off a set of 4 Michelin tires.
Redeeming Your Cash Rewards
Costco Cash Rewards are paid out annually, not monthly like most other credit cards.
Cardholders earn rewards from January through December each calendar year (regardless of the month in which they open the card).Rewards are then distributed in the form of a single reward certificate the following February once the billing statement closes. Rewards certificates are available for redemption through December 31 of that same year.
If you’re enrolled in paperless statements, you will receive the certificate via email separately. It will not be attached to your online statement. If you are not enrolled in paperless statements, you can find the certificate on the last page of your February billing statement when you receive it in the mail.
Cardholders may utilize the certificate for cash-back or Costco merchandise. Cardholders have the option of redeeming a portion for merchandise and receiving the remaining balance in cash at the register upon check-out.
You must redeem the certificate in-person at a Costco store. It is not available in the form of a statement credit, available to redeem online, or open to redeem with Costco Travel.
The certificate will be issued to the primary cardholder, but you may authorize someone else to redeem the certificate, if necessary.
Hot Tip:Cardholders must maintain an open Costco membership to redeem cash-back rewards. If your Costco membership closes before you redeem your certificate, you forfeit your hard-earned rewards.
See our Online Account Management section below for information on how to view your rewards online throughout the year.
Additional Costco Credit Card Features
There are several benefits of the Costco Anywhere card, most of which apply due to its connection with Citibank.
- No foreign transaction fees
- Damage and theft purchase protection
- Worldwide car rental insurance
- Travel and emergency assistance
- Roadside assistance dispatch service
- Citi Entertainment
- $0 liability on unauthorized charges
- Citi Quick Lock
- Citi Mobile App
You can read more about the specific details of these benefits.
Drawbacks of the Cards
While this card is generally a great cash-back card, there are other potential drawbacks to consider:
- You must be a Costco member
- Rewards can only be redeemed once per year
- Generally requires good-to-excellent credit for approval
- Not a points- and miles-friendly card
Alternative Rewards Credit Cards (Recommended)
As this is a cash-back card, we recommend considering these other cards either instead of or in combination with the Costco Anywhere card.
Blue Cash Everyday® Card from American Express
U.P. Rating
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
This cash-back card offers a capped 3% at U.S. supermarkets, 3% at U.S. gas stations, and 3% on U.S. online retail purchases!
(at Amex's secure site)
Apply With Confidence
Know if you're approved withno credit score impact
If you're approved and accept this Card, your credit score may be impacted.
Blue Cash Everyday® Card from American Express
This cash-back card offers a capped 3% at U.S. supermarkets, 3% at U.S. gas stations, and 3% on U.S. online retail purchases!
Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months.
$200
$0
19.24%-29.99% Variable,0% on purchases for 15 months
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)
When it comes to cash-back credit cards, there are dozens of options to choose from. So what sets the Blue Cash Everyday® Card from American Expressapart from the rest?
This card is excellent at earning cash-back on your everyday purchases at U.S. supermarkets, U.S. gas stations, and on U.S. online retail purchases. So if you regularly spend money on everyday purchases, this could be the perfect card to add to your wallet.
Pros
- 3% back on purchases at U.S. supermarkets on up to $6,000 in purchases each year, then 1% back after.
- 3% back on purchases at U.S. gas stations on up to $6,000 in purchases each year, then 1% back after.
- 3% back on purchases on online retail purchases on up to $6,000 in purchases each year, then 1% back after.
Cons
- Rewards are not flexible and can only be redeemed for cash-back. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit.
Read Full Review
- Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months.
- No Annual Fee.
- Balance Transfer is back! Enjoy 0% intro APR on purchases and balance transfers for 15 months from the date of account opening. After that, 19.24% to 29.99% variable APR.
- 3% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases, then 1%.
- 3% Cash Back on U.S. online retail purchases, on up to $6,000 per year, then 1%.
- 3% Cash Back at U.S. gas stations, on up to $6,000 per year, then 1%.
- Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
- Thinking about getting the Disney Bundle which can include Disney+, Hulu, and ESPN+? Your decision made easy with $7/month back in the form of a statement credit after you spend $9.99 or more each month on an eligible subscription (subject to auto renewal) with your Blue Cash Everyday® Card. Enrollment required.
- Enjoy up to $15 back per month when you purchase a Home Chef meal kit subscription (subject to auto renewal) with your enrolled Blue Cash Everyday® Card.
- Terms Apply.
Financial Snapshot
- APR: 19.24%-29.99% Variable,0% on purchases for 15 months
- Foreign Transaction Fees:2.7% of each transaction after conversion to US dollars.
HIGHEST CASH BACK
Blue Cash Preferred® Card from American Express
U.P. Rating
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
This card is great for those who want to earn cash-back with U.S. supermarkets, U.S. streaming subscriptions, transit, and U.S. gas stations.
(at Amex's secure site)
Apply With Confidence
Know if you're approved withno credit score impact
If you're approved and accept this Card, your credit score may be impacted.
Blue Cash Preferred® Card from American Express
This card is great for those who want to earn cash-back with U.S. supermarkets, U.S. streaming subscriptions, transit, and U.S. gas stations.
Earn a $250 statement credit after you spend $3,000 in eligible purchases on your new Card within the first 6 months.
$250
$0 intro annual fee for the first year, then $95.
19.24%-29.99% Variable,0% on purchases for 12 months
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)
The Blue Cash Preferred® Card from American Express is a stellar cash-back credit card for those looking to maximize every purchase they make.
With bonus categories like U.S. supermarkets, select U.S. streaming services, U.S. gas stations, and transit purchases, this card rewards you for the items you spend the most on in a big way! For those looking to earn up to 6% cash-back on their purchases, this could be the card for you!
Pros
- 6% cash-back at U.S. supermarkets (up to $6,000 per year)
- 6% cash-back on select U.S. streaming subscriptions
- 3% cash-back on U.S. gas stations and transit (including rideshares, parking, etc.)
Cons
- $0 intro annual fee for the first year, then $95 annual fee (rates and fees)
Read Full Review
- Earn a $250 statement credit after you spend $3,000 in eligible purchases on your new Card within the first 6 months.
- $0 intro annual fee for the first year, then $95.
- Buy Now, Pay Later: Enjoy $0 intro plan fees when you use Plan It® to split up large purchases into monthly installments. Pay $0 intro plan fees on plans created during the first 12 months from the date of account opening. Plans created after that will have a monthly plan fee up to 1.33% of each eligible purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.
- Low Intro APR: 0% on purchases and balance transfers for 12 months from the date of account opening. After that, your APR will be a variable APR of 19.24% - 29.99%.
- 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
- 6% Cash Back on select U.S. streaming subscriptions.
- 3% Cash Back at U.S. gas stations.
- 3% Cash Back on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
- 1% Cash Back on other purchases.
- Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit on Amazon.com at checkout.
- $84 Disney Bundle Credit: With your enrolled Blue Cash Preferred Card, spend $9.99 or more each month on an auto-renewing Disney Bundle subscription, to receive a monthly statement credit of $7. Valid only at Disney Plus.com, Hulu.com or Plus.espn.com in the U.S.
- Terms Apply.
Financial Snapshot
- APR: 19.24%-29.99% Variable,0% on purchases for 12 months
- Foreign Transaction Fees:2.7% of each transaction after conversion to US dollars.
Rewards Center
Redeem cash-back through your American Express account
Hot Tip: Amex, Discover, and Mastercard are not accepted in-store at Costco. Our latest guide details the best credit cards for shopping at Costco and Costco.com to make sure you earn rewards on all your Costco shopping, despite this obstacle.
Applying for the Costco Anywhere Card
There are a few different ways to apply for the Costco Anywhere card:
- In-person at a Costco Wholesale store
- Online
- By phone at 800-970-3019
In general, most credit card review sites recommend a good-to-excellent credit score for card approval.
While your credit score is important, it’s not the only factor in consideration for approval. If you have an average- to above-average score and you want this card, it may be worth applying.
Some applicants may be approved instantly for the card. However, some submissions may require further review, resulting in a 7 to 10 day waiting period.
Login and Online Account Management
Citi provides great instructions for activating and registering your Costco Anywhere card. Once you’ve registered, you can use Citi’s portal to log in and manage your account online.
Online, cardholders can perform the following tasks:
- View account activity
- View billing statements
- Set up paperless statements and e-communications
- Make a payment
Final Thoughts
If you’re a regular Costco shopper and enjoy earning cash-back on a variety of your everyday purchases, the Costco Anywhere card could be a great card to add to your wallet. This is especially true if you’re a responsible cardholder and don’t have to worry about late fees and other charges.
Remember, with this card, cash-back rewards are only available to be redeemed once per calendar year. Plus, youmust keep your Costco membership open and in good standing, or your ability to earn and redeem rewards is forfeited.
However, if you’re looking for a credit card that’s more geared towards travel and maximizing your points and miles, this isn’t the card for you.
The information regarding the Costco Anywhere Visa® Card by Citi was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Costco Anywhere Visa® Business Card by Citi was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
For rates and fees of the Blue Cash Everyday® from American Express, clickhere.
For rates and fees of the Blue Cash Preferred® Card from American Express, click here.
