Costco Anywhere Visa Card from Citi: Is a Costco Membership Worth the Gas Rewards?

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The Citi Costco Anywhere Visa® Card* has the potential to bring in a lot of value for the right cardholder, but it’s not without some drawbacks.

While this card does not contain Annual feeYou’ll have to pay for a Costco membership ($60 annually), and you’ll need to access a Costco warehouse to redeem your rewards. You will also need to be patient to receive your winnings because they are issued to you only once a year.

On the plus side, the cashback rates on gas and eligible restaurants — not to mention rewards on Costco purchases — are competitive with some of the best cards on the market. Plus cashback rates and no Foreign Transaction FeeHowever, there are not many other features – for example, there is no welcome bonus or Pre-April. Read on for details about the cashback program, how to redeem rewards and recommendations for worthwhile alternatives.

In this article

Costco Visa Anywhere Card from Citi

Show IntroductionUnavailable
April15.99% (Variable)
Credit is recommended excellent

Bonus rates

  • 4% cash back on qualifying gas for the first $7,000 per year and then 1% thereafter
  • 3% cashback 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 fee0 dollars
APR Purchasing IntroductionUnavailable

Balance Transfer Fee A balance transfer fee applies with this offer of 5% of each balance transfer; $5 minimum.
Balance Transfer Annual Interest Rate15.99% (Variable)
late payment fee Up to $40
Foreign Transaction Fee 0%
April penalty Up to 29.99% (Variable)

  • 4% cash back on qualifying gas for the first $7,000 per year and then 1% thereafter
  • 3% cashback 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

Cashback Rewards

You’ll earn 4% cashback on the qualification Gas Purchases — including gas from Costco — on the first $7,000 spent annually, then 1%. If your average gas is $135 a week or less, this card should cover you year-round. There are only a few cards out there that can boast more than 4% cashback on gas, so this is one of the best deals out there.

The Costco Anywhere Visa also gives you 3% cash back on eligible restaurants and travel purchases worldwide. While it is not necessarily the best rewards rate available for Restaurants3% cashback on eligible recipients Travel The purchases – which are not subject to reservation through any source portal – are compelling. Include eligible travel purchases air faresAnd HotelsCar rentals, travel agencies, cruise lines, and travel reservations at Costco.

You’ll also earn 2% cashback on purchases at Costco and Costco.com, although you can also use a flat rate card like Wells Fargo Active Cash® Card, which earns 2% cash back rewards on purchases. For all other purchases outside of these categories, you will earn 1% cashback using Visa Anywhere.

Cashback

The cashback process is unique to this card – and not in a good way. Unfortunately, you can only redeem the cash earned on an annual basis. Most credit cards give you your rewards on a monthly basis, and some even daily.

You will receive an annual cashback reward certificate after the billing statement closes for February, regardless of the account opening date. But the restrictions go further – if you don’t redeem your certificate by December 31 of the year it was issued, you will lose it. For most credit cardsYour rewards do not expire unless you close the account.

Additionally, you can only redeem your certificate for cash or goods in a single transaction at any Costco warehouse in the United States (including Puerto Rico). So while the rewards may be attractive even if you’re not a frequent Costco shopper, you might want to get one nearby.

Purchase Protection

Costco Anywhere Visa doesn’t offer much more than its rewards program, but it does include purchase protection on the items you buy with the card. This means that if an item you purchased is damaged or stolen within 120 days, City They may compensate you for repairs or a refund. Note that if you are in New York State, your purchases are only covered for 90 days.

comparable cards

Citi Custom Cash℠

The Citi Custom Cash Card has the potential to beat the Costco Anywhere Visa when it comes to gas rewards. Its prime reward rate is an automatic 5% cashback on the highest eligible spend tier per billing cycle, on up to $500 in spends (then 1%). Eligible categories include gas stations, restaurants, groceries, select travel, select public transportation, and select broadcasting servicespharmacies, home improvement stores, fitness clubs and live entertainment. You’ll earn 1% on all other purchases.

If you spend $750 within the first three months of account opening, you’ll also earn $200 in cash (fulfilled as 20,000 ThankYou points, which can be redeemed for $200 in cash) – another part of the offer that Costco Anywhere Visa can Do not live up to the standard.

Citi Premier® Card

While the Citi Premier Card will only earn you 1x points for every dollar you spend at Costco — and all other purchases that don’t fall into other reward categories — you’ll earn 3x points on restaurants, air travel, hotels, supermarkets and gas stations. Points are worth 1 cent each when redeemed for a statement credit through the ThankYou portal. While the rate for rewards on gas is a bit lower, for many budgets, rewards on supermarkets, air travel, and hotels may make up for it. You will also win a big welcome bonus by using this card.

Check out our full review of City Premier Card For more details on the welcome bonus, annual fee, annual hotel credit, and more.

Amazon Prime Rewards Visa Signature Card

If you’re primarily driven by grocery rewards and bulk buying, the Amazon Prime Rewards Visa Signature Card might be worth considering. Cashback rates on additional categories are lower – 2% cashback for restaurants, gas stations and pharmacies – but you’ll earn 5% cashback on Amazon PurchasesIncluding Amazon Fresh and Whole Foods. For all other purchases, you’ll earn 1% cash back. This card also gives you the option to fund purchases rather than earn rewards, and getting cash back is easier than redeeming with a Costco Anywhere Visa.

Check out our full review of Amazon Prime Rewards Visa Signature Card for more details.

questions and answers

How do I choose a credit card?

In the end, the right credit card is unique according to each person’s goals and preferences. Decide what features you’re looking for: Maximum rewards, sporadic payments on a large purchase, credit building, emergency credit card or other benefits. From there, you can select the type of card you’re looking for. You can then use CNET’s online reviews to narrow down the terms that will work best for you.

Do you need a Costco membership to shop at Costco?

Yes, you will need a Costco membership to shop at Costco. While there are higher levels of membership available at a higher price, a basic membership costs $60 per year. You will need to have this membership to successfully apply for a Costco Anywhere Visa card.

What types of cashback credit cards are available?

Cashback credit cards generally fall into four basic categories: flat rate, tiered, rotating, or choose what works for you.

Fixed rate cards offer the same price for every purchase. Graduated cards offer a different reward rate for different spending categories. Variable denomination cards offer different rewards every quarter, determined by the card issuer. Your Class Choice Cards allow you to choose your reward class.

our approach

We review the most requested cards and offer the best benefits. We look into the finer details so that there are no surprises when opening an account. We find the main factors that make a card special and compare it to other most important cards. In this way, readers can choose a different card with similar features if our choice does not suit them. Our reviews are checked and updated regularly to include new recommendations, as well as to reflect changes in offerings and the market.

*All information about the Citi Costco Visa Anywhere card and the Amazon Prime Rewards Visa Signature card has been collected independently by CNET and has not been reviewed by the issuer.

The editorial content on this page is based solely on objective and independent reviews by our writers and is not influenced by advertising or partnerships. It is not provided or authorized by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.

The editorial content on this page is based solely on objective and independent reviews by our writers and is not influenced by advertising or partnerships. It is not provided or authorized by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.

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