Costco Anywhere Visa Review

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The Costco Anywhere Visa from Citibank offers impressive rewards-earning potential, and on more than just Costco purchases. You’ll earn handsome rates of cash back on gas, travel and dining out too. Just keep in mind you must be a Costco member to apply, and cardholders can only redeem their cash back at the popular warehouse retailer.

Costco Anywhere Visa®

overall rating
3.5
Costco Anywhere Visa®
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Excellent
Regular APR (%) 15.24% variable
Annual Fee $0 with your paid Costco membership
Rewards Earning Rate 4% cash back on eligible gas for the first $7,000 per year; 3% on restaurants and eligible travel purchases; 2% on all other purchases from Costco and Costco.com; 1% on all other purchases.
Ratings Breakdown
for Interest
2.1
for Fees
2.9
for Rewards
3.6
for Credit
0.7

Who Is This Credit Card Best For?

  • Avatar for Deal Seeker Persona
    Diligently searches for the best products and delights in a good bargain See more cards
    Deal Seeker
  • Avatar for Family Shopper Persona
    Looks for good quality at a fair price while buying for the household See more cards
    Family Shopper
  • Avatar for Foodie Persona
    Gets joy from shopping for ingredients, making meals, and dining See more cards
    Foodie
  • Avatar for Brand Loyalist Persona
    Frequently shops with a particular merchant and wants to be rewarded for their loyalty See more cards
    Brand Loyalist

You need to be a paid Costco member to apply for the card, but the rewards-earning rates are strong in popular categories found beyond the Costco parking lot—gas, dining, and travel. That means Costco members with excellent credit can translate a lot of regular, everyday expenses into cash back at their local Costco. You can even get some of your rewards in cash right at the Costco register. Plus there’s no annual fee.

Since your redemption options are limited, however, you should look for another credit card if you want more freedom in where you use your rewards. Many competing cards offer cash-back on similar everyday categories, and the rewards can often be redeemed straight into your bank account or credited to your card balance.

Pros
  • Attractive rewards-earning rates

  • No annual fee

Cons
  • No bonus for new cardholders

  • Limited rewards redemption

Pros Explained

  • Attractive rewards-earning rates: Earning 4% back on up to $7,000 in qualified gas purchases each year can be lucrative if you commute to work or spend a lot on gas to get around. The 3% back on dining and travel can also add up fast if you are a foodie or travel for work or leisure. These rewards rates are as good or higher than many competing cash-back credit cards that don’t charge an annual fee. 
  • No annual fee: You have to be a paid Costco member to qualify for this credit card, but there’s no separate annual fee. (Costco memberships start at $60 per year—and your membership fee qualifies for 2% cash back.) 

Cons Explained:

  • No bonus for new cardholders: Unlike some other rewards cards with no annual fee, the Costco Anywhere Visa doesn’t offer a bonus for new cardholders, which means you won’t earn extra cash just for meeting a minimum spending requirement within your first few months. Bonuses from comparable cards can be worth hundreds of dollars.
  • Limited rewards redemption: Cash back earned with this card is only offered once each year when your February billing statement closes. Worse, it must be redeemed at a physical Costco store in the U.S., meaning you have to get in your car and drive. While it’s nice that you can redeem for cash as well as merchandise once you’re at the register, there are plenty of hoops to jump through before then.

Earning Points & Rewards

The Costco Anywhere Visa offers high earning rates for a card without an annual fee.

You’ll get:

  • 4% back on up to $7,000 spent at eligible gas stations worldwide each year, including Costco gas stations
  • 3% back on dining and eligible travel
  • 2% back on in-store and online Costco purchases
  • 1% back on everything else 

The gas rewards on this card can be quite lucrative if you drive a lot. If you spend the entire $7,000 per year on gas (a little over $583 per month), you would earn $280 in this category alone. Even if your spending is more in line with the average American household ($2,109—or a little less than $176 per month—in 2018, according to the U.S. Bureau of Labor Statistics) you would earn about $84 in rewards just on gas each year. 

The BLS also tells us that the average American household spent $3,459 on dining out in 2018, so that could be worth another $104 in cash back. And that’s before you’ve even set foot on an airplane or into a Costco.

Redeeming Rewards

One major downside of the Costco Anywhere Visa is the fact that the rewards program is so limited.

Your rewards accumulate throughout the calendar year, January to December, and are then tallied up for distribution just once a year. The cash back comes in the form of an annual reward certificate, which arrives each year after your February account statement closes. You cannot redeem your cash back as you earn it, and you have to redeem your rewards in a single transaction at a Costco warehouse store. 

If you don’t redeem all of your rewards certificate on Costco merchandise, you’ll get the difference back in cash at the register. 

Be aware, too, that you won’t receive any accrued rewards if your Costco Anywhere Visa account is closed before your February billing statement closes. So wait until you receive your rewards if you’re planning to close your credit card account or end your Costco membership.

Don’t wait too long before redeeming your certificate. Rewards expire on December 31 of the year the certificate was issued.

How to Get the Most Out of This Card

Use this card for all your gas station purchases in order to maximize the 4% back earning category. You can also use it for all dining, travel, and Costco purchases in order to maximize those bonus categories. Keep in mind that you won’t receive the rewards you accrue until after your February billing statement closes each year.

You may want to consider pairing this card with another cash back or travel credit card that offers more redemption options throughout the year. 

Costco Anywhere Visa Card’s Other Features

  • Extended warranties 
  • Insurance for stolen or damaged purchases

Customer Service

Citi ranked sixth out of 11 big credit card issuers in J.D. Power’s 2019 U.S. Credit Card Satisfaction Study. It scored 799 out of 1,000 points, which put it just below the industry average of 806 points. However, Citi does have easily accessible customer service, including 24/7 phone help and online chat. 

Citi also offers a helpful mobile app that lets you track your purchases, see your balance, and pay your credit card bill using your mobile device.

Security Features

Citi offers standard security features for its credit cards including online fraud monitoring and early detection. It also offers a Citi Identity Theft Solutions program, which can be useful when someone accesses your account details or you’re a victim of identity theft. 

Costco Anywhere Visa Fees

There’s nothing surprising in the fine print about the Costco Anywhere Visa card’s fees—they are comparable to the fees on similar cards. Note that you won’t be charged any foreign transaction fees on purchases made abroad.

Next Steps
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CURRENT CARD
Costco Anywhere Visa®
overall rating
3.5
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Excellent
Regular APR (%) 15.24% variable
Annual Fee $0 with your paid Costco membership
Rewards Earning Rate 4% cash back on eligible gas for the first $7,000 per year; 3% on restaurants and eligible travel purchases; 2% on all other purchases from Costco and Costco.com; 1% on all other purchases.
Our Methodology
At The Balance, we are dedicated to giving you unbiased, comprehensive credit card reviews. To do this, we collect data on hundreds of cards and score more than 55 features that affect your finances.
  • Our Reviews Are Always Impartial: No one can influence which cards we review, the way we present them to you, or the ratings they receive. The scores and reviews come directly from the data we collect and our editorial expertise, and we focus on three areas:
  • How Much Does It Cost? With credit card debt at an all-time high, we believe you should know the cost of carrying a balance. Because of that, we give regular purchase APRs significant weight in overall scores, and cards receive low marks if they have an array of pricey fees.
  • What Are the Rewards Worth? Cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely. To simplify the problem, we built a system that fairly compares rewards and gives them a dollar value. We do this by looking at the ways you can earn and use rewards, which includes evaluating Americans’ typical spending habits and analyzing common travel patterns.
  • Does It Make Your Life Easier? Our scoring system favors cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting customer service. Finally, we give preference to credit cards that have several tools for dealing with fraudulent charges.
  • For every review on The Balance, we hold the credit cards to these standards, and we set the bar high. While we recognize the appeal of splashy features like six-digit sign-up bonuses, our approach ensures that credit cards with the best combination of value, affordability, and accessibility receive the highest scores. See our full methodology for more details.

Article Sources

The Balance requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy .
  1. Citicards. "Costco Anywhere Visa Card by Citi Terms & Conditions." Accessed Feb. 5, 2020.

  2. BLS. "Consumer Expenditures -- 2018." Page 5. Accessed Feb. 5, 2020.

  3. J.D. Power. "2019 Credit Card Satisfaction Study." Accessed Feb. 05, 2020.