Costco Anywhere Card: Maximize Your Cash Back

The Costco Anywhere Card by Citi offers robust cash back: 5% on Costco gas, 4% on other gas/EV, 3% on travel & dining, 2% at Costco. No annual fee with your membership. Perfect for maximizing savings on everyday spending and Costco trips.

,

If you’re a Costco member, the Costco Anywhere Card by Citi has likely caught your attention. This card is designed to enhance your membership by offering attractive cash back rewards on a variety of spending categories.

We’re talking about earning on gas and EV charging, getting money back from restaurants and travel, and of course, rewards on all your purchases at Costco. A big plus is that it comes with no annual fee, as long as you have an active paid Costco membership, and it even conveniently doubles as your membership ID.

Let’s take a closer look at what the Costco Anywhere Card brings to the table.

A smiling woman wearing a grey t-shirt and jeans is sitting at a white table using a laptop in a bright, modern room. In the upper left corner, there is a graphic of a Citi Visa credit card with the name L Walker.

How the Credit Card Works

The Costco Anywhere Card by Citi functions as a standard Visa credit card, accepted globally wherever Visa is welcome. A unique feature is its dual role as your Costco membership ID, simplifying warehouse visits.

Transactions, whether contactless, online, or chip-based, are processed via the Visa network and Citi. The card also supports digital wallets for secure mobile payments.

Applicants are typically existing Costco members aiming to enhance their membership value. They often shop regularly at Costco and are drawn to earning cash back on these purchases, as well as on everyday spending like gas, dining, and travel. It suits consumers seeking straightforward rewards, particularly if their spending aligns with the card’s bonus categories.

Main advantages of Costco Anywhere Card

The Costco Anywhere Card by Citi offers several compelling benefits for its users. Here are five key advantages:

  • Generous Cash Back Rewards: Earn significant cash back with 5% on Costco gas and 4% on other eligible gas and EV charging (up to $7,000 per year combined, then 1%). Also, 3% on restaurants and eligible travel, and 2% on all other Costco and Costco.com purchases.
  • No Annual Fee with Membership: You won’t pay an annual fee for the card itself, provided you maintain your paid Costco membership, making it a cost-effective choice.
  • No Foreign Transaction Fees: Use your card internationally without incurring extra charges on your purchases. This is a great perk for travelers.
  • Doubles as Membership ID: The card conveniently serves as your Costco membership card, meaning one less card to carry for warehouse access and checkout.
  • Valuable Purchase and Travel Protections: Benefit from included protections like damage and theft purchase protection, worldwide car rental insurance, and travel accident insurance.

Disadvantages

While the Costco Anywhere Card by Citi offers many perks, it’s important to consider potential drawbacks before applying.

  • Costco Membership Required: You must have an active, paid Costco membership to get and keep the card.
  • Annual Rewards Certificate: Cash back is issued once a year as a certificate after your February billing statement. This certificate must be redeemed for cash or merchandise at a U.S. Costco warehouse and expires by December 31st of the issuance year.
  • High Credit Score Typically Needed: Approval often requires excellent credit, which might be a barrier for some applicants.
  • Gas Rewards Cap: The higher 5% and 4% cash back rates on gas and EV charging are just for the first $7,000 in combined purchases per year, then it drops to 1%.

Rates and Commissions of Costco Anywhere Card

Understanding the potential costs associated with the Costco Anywhere Card is crucial. While there’s no annual fee, other charges can apply. The variable Annual Percentage Rate (APR) for purchases, balance transfers, and Citi Flex Plans ranges from 19.49% to 27.49%, depending on your creditworthiness. For Citi Flex Pay Plans, a monthly fee up to 1.72% may apply.

Cash advances come with a higher variable APR of 29.49% and a fee of either $10 or 5% of the advance amount, whichever is greater. Similarly, balance transfers incur a fee of $5 or 5% of the transfer amount. If you pay late, a variable penalty APR of up to 29.99% could apply.

There’s a minimum interest charge of $0.50, but thankfully, no foreign transaction fees.

Requirements and eligibility criteria

To apply for the Costco Anywhere Visa Card by Citi, you must be at least 18 years old (21 in Puerto Rico) and reside in the United States or its territories. Crucially, a current Costco membership in your name is mandatory to obtain and keep the card. If you can’t maintain your Costco membership, Citi may cancel your card account.

Furthermore, each authorized user added to the account must also hold their own Costco membership. This offer is for new accounts only.

Citibank assesses eligibility based on creditworthiness, reviewing your income, debt, and credit history. You’ll need to provide personal information like your name, address, date of birth, and SSN for identity verification.

How to get a Costco Anywhere Visa

Applying for the Costco Anywhere Visa Card by Citi involves a few steps. Here’s a general guide:

  1. Application Process:
    • Online: You’ll need to fill out an application form with personal details, financial information, and your Costco membership number. You can often get a response in under a minute.
    • By Phone: You can also apply by calling the number provided by Citi.
    • In-Person: While less common for direct Citi applications, you might find opportunities to apply at a kiosk or the membership counter within a Costco warehouse. The process would be similar, likely involving a paper application or assistance from a representative.
  2. Tips to Increase Approval Chances:
    • Maintain Good Credit
    • Have an active Costco Membership
    • Accurate Information
    • Manage Debt
    • Have a stable Income
  3. Estimated Time to Receive Card:
    • Application Processing: 4 weeks from date of submission.
    • Card Delivery: Within 7-10 business days, through this can vary.
  4. What to Do in Case of Rejection:
    • Review the Reason
    • Check Your Credit Report
    • Contact Citi
    • Improve and Reapply

Conclusion

The Costco Anywhere Visa Card by Citi presents a compelling option for dedicated Costco members looking to maximize their rewards. The absence of an annual fee (with your paid Costco membership) and no foreign transaction fees are significant perks, especially for frequent shoppers and travelers.

However, it’s essential to remember the mandatory Costco membership requirement for both primary and authorized users, the annual rewards certificate system, and the typical need for a good to excellent credit score.

Weighing these advantages and disadvantages against your personal spending habits and financial situation is key. If the benefits align with your lifestyle, this card could be a valuable addition to your wallet.

For those interested in applying, visit the official Citibank website by clicking here:

APPLY NOW TO GET YOUR COSTCO ANYWHERE VISA CARD

You will leave our site ↗

Read also

Disclaimer Under no circumstances will Sit Series require you to pay in order to release any type of product, including credit cards, loans, or any other offer. If this happens, please contact us immediately. Always read the terms and conditions of the service provider you are reaching out to. Sit Series earns revenue through advertising and referral commissions for some, but not all, of the products displayed. All content published here is based on quantitative and qualitative research, and our team strives to be as impartial as possible when comparing different options.

Advertiser Disclosure Sit Series is an independent, objective, advertising-supported website. To support our ability to provide free content to our users, the recommendations that appear on Sit Series may come from companies from which we receive affiliate compensation. This compensation may impact how, where, and in what order offers appear on the site. Other factors, such as our proprietary algorithms and first-party data, may also affect the placement and prominence of products/offers. We do not include all financial or credit offers available on the market on our site.

Editorial Note The opinions expressed on Sit Series are solely those of the author and not of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities mentioned. That said, the compensation we receive from our affiliate partners does not influence the recommendations or advice our writing team provides in our articles, nor does it impact any of the content on this site. While we work hard to provide accurate and up-to-date information that we believe is relevant to our users, we cannot guarantee that the information provided is complete and make no representations or warranties regarding its accuracy or applicability.

Loan terms: 12 to 60 months. APR: 0.99% to 9% based on the selected term (includes fees, per local law). Example: $10,000 loan at 0.99% APR for 36 months totals $11,957.15. Fees from 0.99%, up to $100,000.