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Costco Anywhere Visa Credit Card Review

Costco Anywhere Visa Credit Card Review

*Editorial Note: This content is not provided or commissioned by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Jun 12, 2018, but some terms and conditions may have changed or are no longer available. For the most accurate and up to date information please consult the terms and conditions found on the issuer website.

Who the card is best for

If you enjoy wandering the aisles of Costco, looking forward to the days where you can get free samples of food and most importantly — enjoying buying food and supplies in bulk — then the Costco Anywhere Visa® Card by Citi could be the best credit card for you.

  • 4% on gas, 3% on restaurants & travel, 2% at Costco, 1% everywhere else

  • 0% fee for transactions while traveling abroad

  • $0* annual fee

Highlights
  • Exclusively for Costco Members: Go Big with Cash Back Rewards
  • 4% 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
  • No annual fee with your paid Costco membership*

See additional details for Costco Anywhere Visa® Card by Citi

More Info

Where this card stands out in its category

The Costco Anywhere Visa® Card by Citi offers a generous 4% cash back on eligible gas for the first $7,000 per year, then 1% thereafter. And get even more bang for your buck when you buy gas at Costco, which tends to be cheaper than your normal gas station.

Dan McTeague, a Costco member, is also a senior petroleum analyst at GasBuddy.com. He explains that Costco can offer lower gas prices because of one key advantage: “They don’t honor all credit cards, only Visa, unlike most gas stations,” he said. “There’s a cost associated with honoring all credit cards. In the case of Costco, they prefer to work just with Visa, so that gives them an advantage.”

Costco also probably receives significant discounts from wholesalers, given the large volumes of gas they sell, McTeague told CompareCards. “[That] yields them a several cents a gallon advantage,” he added. “It’s purchasing power and other opportunities not available to small gas stations.”

There’s a $0* annual fee as long as you have a Costco membership, which costs $60 a year at the basic Gold Star level. Because the card is issued by Citi, cardmembers get access to the Citi® Price Rewind program, which helps you find the lowest price on purchases made with your card. You have up to 60 days to submit a request or search for a lower price on what you bought. If one is found, you may get the price difference, depending on what you buy.

Where this card falls short in its category

Other cards with cash back for groceries offer more generous cash back than the Costco Anywhere Visa® Card by Citi. The Blue Cash Preferred® Card from American Express, for example, offers 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 3% cash back at U.S. gas stations, 1% cash back on other purchases. The Amazon Prime Rewards Visa® Signature Card* offers 5% back on Amazon.com and Whole Foods Market purchases. And the Huntington Voice Credit Card® has no annual fee and earns you three points for every $1 spent in 10 categories, including grocery stores, once you open your account. Rewards are capped at $2,000 each quarter or 6,000 points.

You can only earn 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter, 3% on restaurants & travel, 2% at Costco & Costco.com, 1% on all other purchases with the Costco Anywhere Visa® Card by Citi.

Your cashback rewards are only distributed once a year, in the form of a reward certificate, after your February billing statement closes. You have until Dec. 31 to use the certificate in a single transaction, either for merchandise or cash back. Rewards will be forfeited if you cancel your credit card or end your Costco membership. Certificates can’t be redeemed at Costco.com or Costco Travel.

Additional card benefits

  • Damage & theft purchase protection. It covers repairs or a refund if purchases made with your card are damaged or stolen within 120 days of purchase (90 days for New York residents).
  • Extended warranty. Extends the manufacturer’s warranty on purchases made with the card.
  • Trip cancellation & interruption protection. You may be reimbursed for nonrefundable trip expenses, like change fees, if you paid for your travel with the card.
  • Worldwide car rental insurance. Decline the rental company’s collision loss/damage insurance and be covered against theft or damage to a rental car when you pay with your card.
  • Worldwide travel accident insurance. If you lose a limb, sight, speech or hearing while traveling, the card may provide up to $250,000 in compensation.
  • Travel & emergency assistance. Services are available 24/7 for things including emergency travel arrangements, travel issues, medical and legal referrals. The assistance is free, but you must pay for the services you use.

How to use the card most effectively

If you have a car and shop at Costco often, then this card is great to use when paying for gas and groceries. It’s also good to get that 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter, 3% on restaurants & travel, 2% at Costco & Costco.com, 1% on all other purchases when you use the card for restaurants (including cafes, bars, lounges and fast-food restaurants) and eligible travel purchases, including airfare, hotels, car rentals, travel agencies, cruise lines and Costco Travel. And if you want to make sure you get the best prices for your card purchases, be sure to take advantage of the Citi® Price Rewind program.

Compare it with the Amazon Prime Rewards Visa Signature Card

The Amazon Prime Rewards Visa Signature Card offers a more generous 5% cash back for groceries purchased at Whole Foods Market and Amazon.com, which is a good deal if you shop at these places regularly. But like the Costco Anywhere Visa® Card by Citi, the Amazon Prime Rewards Visa Signature Card only offers 1% cash back for groceries (not including Whole Foods Market purchases).

Both require a membership — $60 a year for Costco and $119 a year for Amazon Prime — in order to get the card. The Amazon Prime Rewards Visa Signature Card does offer an instant $70 Amazon.com gift card upon approval, which helps offset the Prime membership fee. And neither card charges foreign transaction fees.

There’s no cap on rewards earned with the Amazon Prime Rewards Visa Signature Card and they never expire as long as your Amazon.com account remains open. Cashback awards for the Costco Anywhere Visa® Card by Citi don’t expire as long as you keep the card and maintain your Costco membership.

*The information related to the Amazon Prime Rewards Visa Signature Card has been collected by CompareCards and has not been reviewed or provided by the issuer of this card.

Costco Anywhere Visa® Card by Citi Amazon Prime Rewards Visa Signature Card
Annual Fee $0* $0; must have $119 annual Prime membership.
Regular Purchase APR 17.49%* (Variable) 15.99%-23.99% variable
Rewards 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter, 3% on restaurants & travel, 2% at Costco & Costco.com, 1% on all other purchases 5% back at Amazon.com and Whole Foods Market, 2% back at restaurants, gas stations and drugstores, 1% back on all other purchases
Sign-Up Bonus N/A $70 Amazon.com gift card upon approval
Foreign Transaction Fee 0% None

Bottom Line

If you’re a die-hard Costco shopper, then the Costco Anywhere Visa® Card by Citi is a great deal, but you do need to be a Costco member to get the card. The 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter is generous, but other cards offer better rewards for grocery shopping. If you eat out regularly and have a healthy travel budget, the 3% cash back can pile up nicely. And if you shop a lot at Costco or Costco.com, the 2% cash back adds up. But be warned — you do need to have excellent credit to get this card.


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