Costco Anywhere Visa Card by Citi Review: Are you a Costco shopper looking for a credit card that rewards you for your everyday Purchases? The Costco Anywhere Visa® Card by Citi is one of the most popular cashback Credit Cards, especially if you’re already a member.
I’ll walk you through its key benefits and potential downsides, helping you decide if it fits you in 2024.
Benefits of the Costco Anywhere Visa® Card
There are lots of key benefits provided by the Costco Anywhere Visa Card. Let’s check each of them to get more rewards.
$75 Welcome Offer
For a limited time, you can get a $75 welcome offer after spending $1,500 within the first 3 months of having the card. This is the highest offer ever for this card, so if you’ve considered applying for a Credit Card, now’s a great time to do it!
4% Cashback on Gas Stations
One of the best perks of the Costco Anywhere Visa® Card is the 4% cashback you get at gas stations worldwide, including Costco gas stations.
This makes it one of the top cards for gas purchases, though keep in mind this rate only applies to the first $7,000 spent per year. After that, the rate drops to 1% cashback.
3% Cashback on Restaurants and Travel
If you love Dining out and traveling frequently?
You’ll appreciate the 3% cashback this card offers on restaurants and travel purchases. It’s a competitive rate, especially if you’re looking for a card with no annual fees.
2% Cashback at Costco
If you’re already shopping at Costco or on Costco.com, you’ll earn 2% cashback on all your purchases there. While not the highest rate for Costco spending, it’s still a great way to earn rewards on everyday essentials.
1% Cashback on Everything Else
For everything that doesn’t fit into the other categories, you’ll still earn 1% cashback, which adds up over time.
No Annual Fee
The best part? This card has no annual fee, but you do need to maintain a Costco membership to keep using it.
No Foreign Transaction Fees
If you travel outside the country often, you’ll appreciate that the Costco Anywhere Visa Card has no foreign transaction fees. You need not worry while shopping while earning rewards.
Benefits and cashback rewards of the Costco Anywhere Visa Card by Citi
| Category | Cashback Rate | Details |
|---|---|---|
| Gasoline and EV Charging | 4% on the first $7,000 per year, then 1% thereafter | Applies to eligible gas stations and EV charging locations worldwide. |
| Restaurants and Travel | 3% | Earn cashback on dining out and eligible travel expenses worldwide. |
| Costco Purchases | 2% | Available for purchases made at Costco and on Costco.com. |
| Other Purchases | 1% | Earn cashback on all other purchases anywhere Visa is accepted. |
| Card Convenience | – | Doubles as your Costco membership ID. |
| No Foreign Transaction Fees | – | Enjoy no foreign transaction fees when making international purchases. |
| No Annual Fee | – | No annual fee, but requires an active Costco membership. |
| Cashback Redemption | Annual credit card reward certificate | Issued after your February billing statement, redeemable at US Costco stores. |
Drawbacks of the Costco Anywhere Visa® Card
While the Costco Anywhere Visa® Card offers some great perks, there are a few downsides to consider:
- Costco Membership Required
You need an active Costco membership to apply for and keep the card. Costco memberships start at $60, or you can go for the executive membership at $120, which offers an extra 2% cashback on Costco purchases. - Gas Cashback Limit
Although you get 4% cashback at gas stations, this only applies to the first $7,000 spent each year. After that, you’ll earn just 1% cashback on gas purchases. - Cashback Redemption
Your rewards come in the form of an annual Costco coupon, which you can redeem for cash at a Costco store. While it’s nice to get cash, some people find the process of having to go to Costco to redeem it a little inconvenient. - No Traditional Sign-Up Bonus
Aside from the limited-time $75 welcome offer, this card doesn’t come with a large sign-up bonus that other cards often have. If you’re someone who loves big bonuses, this might feel like a downside.
A good cashback credit card offers rewards on everyday purchases, allowing you to save while you spend.
When Should You Apply?
If you’re thinking about applying, there are some timing rules to keep in mind. With Citi’s 8/65 rule, you can only apply for one Citi card every 8 days and no more than two Citi cards within 65 days.
Also, be mindful of your recent credit inquiries, as Citi tends to be strict with those.
Is the Costco Anywhere Visa® Card Worth It?
In short, yes! The Costco Anywhere Visa® Card by Citi is a solid choice if you’re looking for a no-annual-fee cashback card. The 4% cashback on gas, 3% cash back on dining and travel, and 2% cashback at Costco make it a great all-around card for regular spending.
However, if you’re not already a Costco member, you’ll need to weigh the Costco membership fee against the card’s benefits. It might be worth trying a membership for a year to see if the card and Costco work for your lifestyle.
For those who aren’t heavy Costco shoppers but want to earn rewards on their Costco purchases, there are other cards out there, like the US Bank Altitude Reserve or Chase Freedom Unlimited, that offer higher returns on certain categories, including Costco purchases.
Bottom Line
The Costco Anywhere Visa® Card by Citi is a fantastic card for anyone who spends a lot on gas, dining, or travel and wants to earn cashback without paying an annual fee.
The current $75 welcome offer makes it even more appealing. But if you’re primarily looking to maximize your rewards on Costco purchases, you might want to explore other options. That said, if you’re a loyal Costco member, this card can provide great long-term value for your everyday spending.
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