Costco Anywhere Visa Credit Card

Costco Anywhere Visa Credit Card
Costco Anywhere Visa Credit Card

If you’re considering this store card for the benefits offered, here are some necessary things to learn about the Costco Anywhere Visa ® Card before using.

Though it’s a store card, Costco members can use the Costco Anyplace Visa card wherever Visa cards are accepted and earn benefits towards daily purchases like gas, travel, and dining. Nevertheless, the card is only offered to current Costco members. If you cancel your Costco membership, your Costco Anyplace Visa card will also be canceled.

If you aren’t a present Costco member, should you pay for the membership to get access to the Costco Anyplace Visa card? And if you are a Costco member, do the benefits and benefits provided outweigh other benefits cards?

Before you obtain this store card, here are 5 essential things to know about the Costco Anyplace Visa card:

APR
16.74% (Variable)
Recommended Credit
Excellent
Reward Rates4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter
3% cash back on restaurants and eligible travel purchases
2% cash back on all other purchases from Costco and Costco.com
1% cash back on all other purchases
Annual Fee
$0
Intro Purchase APR
N/A

Before you can apply for the Costco Anywhere Visa card, you need to be a current member of Costco warehouse. When you get the store card, the very first piece of information you should go into is your Costco membership number.

The annual cost is $60 for a Gold Star membership or $120 for an Executive membership, plus sales tax, where appropriate. Executive members get more discounts and advantages on Costco services and a 2% yearly reward up to $1,000 on eligible purchases at Costco and Costco Travel. These perks remain in addition to any cashback rewards you earn by making purchases utilizing the Costco Anywhere Visa card.

With no annual cost outside the cost of Costco subscription, the Costco Anywhere Visa card could be a great choice. However if you are already a warehouse member at BJ’s or Sam’s Club, you need to decide if the additional membership expense deserves it.

Highlights Costco Anywhere Visa card

  • Discover among Citi’s finest cash back rewards cards developed exclusively for Costco members
  • 4% money back on qualified gas for the first $7,000 each year and after that 1% afterwards
  • 3% cash back on dining establishments and qualified travel purchases
  • 2% money back on all other purchases from Costco and Costco.com
  • 1% cash back on all other purchases
  • No annual charge with your paid Costco subscription and enjoy no foreign transaction costs on purchases
  • Receive a yearly credit card benefit certificate, which is redeemable for money or product at U.S. Costco storage facilities, including Puerto Rico
  • The basic variable APR for Citi Flex Strategy is 16.74%. Citi Flex Plan deals are offered at Citi’s discretion.

Pros & Cons

Pros

  • No annual fee
  • Bonus categories
  • No foreign transaction fees

Cons

  • Must be a Costco member
  • Limited redemptions

Key features of the Costco Anywhere Visa ® Card by Citi

Yearly charge: $0 for the card, but you need to be a Costco member. A baseline Gold Star membership costs $60 annually, while the higher-tier Executive membership is $120 per year.

Benefits:

  • 4% cash back on gas purchases (both at Costco and other gasoline station) on approximately $7,000 of investing a year, then 1% back.
  • 3% cash back on restaurants and the majority of travel purchases.
  • 2% money back at Costco and Costco.com.
  • 1% money back on all other purchases.

Sign-up perk: None.

Intro APR deal: None.

Additional benefits: The card charges no foreign deal fees. It likewise includes travel and emergency assistance and worldwide travel mishap insurance.

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Credit rating requirements: According to the company, you’ll require excellent credit to get approved for the Costco Anyplace Visa ® Card by Citi. That’s normally defined as a credit score of 720 or much better.

Why you may desire the Costco Anyplace Visa ® Card by Citi

It truly is an anywhere card

The Costco Anywhere Visa ® Card by Citi is an “open-loop” shop card, meaning you’re not restricted to utilizing it just at Costco. In fact, in several cases, you’re rewarded more handsomely for utilizing it somewhere else.

Big gas benefits

For those who drive typically, this card’s abundant gas rewards are a highlight. At 4% back on up to $7,000 in gas spending a year, you could earn $280 every year just at the pump. And that’s not including the 1% back you ‘d get on any gas purchases beyond that cap.

Abundant benefits on dining and travel

The 3% money back on dining and travel is unlimited. That’s as good as the rate provided by some premium travel cards with yearly costs in the hundreds of dollars.

No foreign deal costs

Unlike numerous other cash-back charge card, the Costco Anywhere Visa ® Card by Citi charges no extra cost on purchases abroad. If you take a trip globally, you’ll continue making benefits without dealing with a 3% charge on every purchase you make.

Costco Anywhere Visa card Rewards

Making Rewards

A Costco member can use the Costco Anywhere Visa card by Citi to earn 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter, 3% money back on dining establishments and qualified travel purchases, 2% money back on all other buy from Costco and Costco.com and 1% cash back on all other purchases. Citi and Costco specify qualified gas as gasoline station that Visa categorizes as a filling station. The Benefits Program Terms states: “Particular Non– Qualifying Purchases. You will just make 1% cash back, not 4%, for gas purchased at warehouse stores, grocery stores, corner store and warehouse clubs besides Costco or for fuel utilized for non– car functions.” That implies if you go to a filling station that Visa categorizes as a convenience store, you will just make 1% cash back.

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The Costco Card uses increased money back on costs at restaurants and on eligible travel. The kinds of travel purchases that will make extra cash back consist of air travel, automobile leasings, cruise lines, Costco Travel purchases, hotels and travel agencies. All travel purchases that are disqualified for additional cash back such as timeshares, campgrounds, bed and breakfasts, trains and other commuter transports will just make 1%. The same concept applies to restaurants; you will make only 1% at bakeshops, restaurants and coffee shops inside outlet store, grocery stores and other warehouse clubs.

For your shopping journeys to Costco and Costco.com, the Citi Costco Visa Card will make 2%. And on all other purchases that do not fall under any of the abovementioned categories, the card will get 1% money back.

Redeeming Benefits

A major downside of the Costco Anywhere Visa is the trouble required to redeem your rewards. After your February billing statement, you will have up until December 31 to redeem your money rewards profits from the year prior to. For instance, if you made cash back in 2021, you would have the ability to redeem it between March and December 2022.

Your incomes will be sent to you as a certificate that you can money in at your regional Costco storage facility. If you cancel your Costco membership the card is immediately canceled. This indicates you will surrender your cash-back benefits, so make certain to take this into consideration before you think about canceling either your Costco membership or your Costco Visa.

Rewards Potential

To figure out the cash benefits potential of the Citi Costco Anywhere Visa card we need to look at the bonus offer classifications and determine what an American household may spend in those areas. Cashdik utilizes information from numerous government agencies in order to figure out both baseline income and spending averages throughout numerous classifications. The 70th percentile of wage-earning homes generate $100,172 yearly and we base costs on that number.

Cashdik approximates that our example family invests $2,687 on gas, which results in $107.48 cash back yearly. The $7,591 on travel and dining establishments this home spends would equate to $227.73 cash back, a Costco member’s purchases at Costco totaling $2,456 each year result in $49.12 and the staying $13,676 that might reasonably be charged to a credit card would earn $136.76 money back. This suggests that the Citi Costco Anywhere Visa card would earn a total of $521.09 in cash back per year.

Frequently asked questions

Can I utilize the Costco Anyplace Visa card beyond Costco?
Yes. The Costco Anyplace Visa ® Card by Citi can be utilized anywhere that accepts Visa, not simply at Costco.
Does the Costco Anyplace Visa charge an annual cost?
There’s no annual charge for the card, but you need to be a Costco member to apply, and subscription starts at $60 a year.
Do you have to be a Costco member to get the Costco Anywhere Visa?
Yes. You must be a Costco member to get the Costco Anyplace Visa ® Card by Citi. Because benefits are redeemable just at Costco, there wouldn’t be much of a benefit for nonmembers to get the card.
Does the Costco Anywhere Visa feature a Costco subscription?
You obtain the credit card individually from signing up for a subscription. You don’t get the card automatically for becoming a member, nor do you get free subscription as a perk of the card.
What are the benefits on the Costco Anywhere Visa?
You earn 4% cash back on gas purchases (at Costco along with other filling station) on approximately $7,000 in gas spending per year (1% after that); 3% money back on dining establishments and the majority of take a trip purchases; 2% back at Costco and Costco.com; and 1% money back on all other purchases.
Do I need to invest my Costco Anyplace Visa rewards at Costco?
You need to go to a Costco shop to declare your benefits, but you don’t need to invest them there.
What credit report do I need to get the Costco Anywhere visa?
You need to have excellent credit to get approved for the Costco Anyplace Visa ® Card by Citi. That normally means a credit report of 720 or above.
Exists an option to the Costco Anywhere Visa card?
The Costco Anywhere Visa Business Card is practically the same as the Costco Anywhere Visa card, however it doesn’t allow transfers. Depending on your requirements for a company credit card, there might be other options out there that better fit your requirements
What kinds of payment does Costco accept?
Costco accepts money, checks, EBT, Costco Shop Cards, and mobile payments (Apple Pay, Google Pay, Samsung Pay). Visa credit and debit cards are also accepted, together with Mastercard debit cards only. Mastercard and American Express charge card are declined at Costco, Costco.com, Costco gasoline station, or Costco car cleans. 

 

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