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The Costco Charge Card is a great option for those who shop regularly at Costco. It offers 4% cash back rewards on eligible gas purchases.
One of the benefits of the Costco Charge Card is that it has no annual fee. This means you can enjoy the cash back rewards without incurring any extra costs.
With the Costco Charge Card, you can earn 3% cash back on restaurants and 2% cash back on travel purchases. This can add up to significant savings over time.
The rewards can be redeemed for cash or used to purchase gift cards.
Additional reading: Does Costco Take Visa Credit Cards
Benefits
The Costco Anywhere Visa Card by Citi offers a range of benefits that make it a solid choice for cardholders.
You can get purchase protection against damage or theft, which is a big plus for expensive purchases. This protection kicks in if you report the incident within 120 days of purchase (90 days for New York residents).
The card also offers damage and theft protection up to $1,000 per item and a coverage limit of $50,000 per calendar year. This means you're well-protected in case something goes wrong with your purchases.
Rental car insurance is also included, providing secondary coverage up to $50,000 in accidental damage to your rental car. This can be a huge relief if you're renting a car for an extended period.
One of the best benefits of the Costco Anywhere Visa Card is that it doesn't charge foreign transaction fees, making it a great choice for international travel.
Here are some key benefits of the card at a glance:
- Damage and theft protection up to $1,000 per item and $50,000 per calendar year
- Rental car insurance with secondary coverage up to $50,000
- No foreign transaction fees
- Secondary purchase protection against damage or theft
Costs and Fees
The Costco Charge Card has a balance transfer fee of 5% of each balance transfer, with a minimum of $5. This can add up quickly if you're not careful.
You'll also need to consider the cost of a Costco membership, which starts at $60. This is a one-time fee, but it's worth noting if you're not already a member.
The card also charges interest on outstanding balances, so it's essential to pay your bill on time to avoid unnecessary fees.
Intriguing read: Does Costco Citi Card Cover Rental Car Insurance
No Foreign Transaction Fees
Traveling abroad can be expensive, but some credit cards can help minimize the costs. The Costco Anywhere Visa Card by Citi is a good option for international travel because it doesn't charge foreign transaction fees.
Some credit cards charge a fee of up to 3% for using them outside the US, but not the Costco Anywhere Visa Card by Citi. This means you can use it to make purchases or withdraw cash without incurring extra fees.
Broaden your view: Citi Virtual Credit Cards
Annual Fees and Costs
The annual fee and other costs associated with credit cards can be a significant factor in your decision to apply for one. The Costco Anywhere Visa Card by Citi charges a balance transfer fee of 5% of each balance transfer, with a $5 minimum.
You'll also need to consider the cost of a Costco membership, which starts at $60. This is a one-time fee, but it's worth noting that you'll need to have a membership to qualify for the credit card.
The interest on outstanding balances can add up quickly, so it's essential to pay off your balance in full each month. Additionally, the card will charge cash advance and balance transfer fees, which can further increase your costs.
Consider reading: Balance Transfer Cards Fair Credit
Rewards and Earning
The Costco Anywhere Visa Card has a robust rewards program that benefits gas guzzlers, foodies, and frequent travelers. You earn 4% cash back on eligible gas and EV charging purchases worldwide for the first $7,000 per year and then 1% thereafter.
The card also offers 3% cash back on restaurants and eligible travel purchases worldwide, and 2% cash back on all other purchases from Costco and Costco.com. However, purchases at Costco don't earn the highest cash-back rate, with 2% cash back on purchases from Costco and Costco.com.
Here's a breakdown of the rewards you can earn with the Costco Anywhere Visa Card:
- 4% cash back on eligible gas and EV charging purchases worldwide for the first $7,000 per year and then 1% thereafter
- 3% cash back on restaurants and eligible travel purchases worldwide
- 2% cash back on all other purchases from Costco and Costco.com
- 1% cash back on all other purchases
Welcome Bonus
The Citi Costco Anywhere Visa Card by Citi doesn't offer a public sign-up bonus.
If you're a Costco member, you might be targeted for an exclusive bonus when opening a Costco membership.
You can always apply in-store at Costco and ask if you're eligible to receive a bonus.
Here's an interesting read: Hawaii Costco
Robust Rewards Program
The Costco Anywhere Visa Card has a robust rewards program that benefits cardholders in various ways. You earn 4% cash back on eligible gas and EV charging purchases worldwide for the first $7,000 per year and then 1% thereafter.
One of the standout features of this card is its tiered rewards program. You earn 3% cash back on restaurants and eligible travel purchases worldwide, making it an excellent option for frequent travelers and foodies. Additionally, you earn 2% cash back on all other purchases from Costco and Costco.com.
The rewards program also offers a decent option for Costco purchases with 2% cash back. However, there are other cards that offer similar or better returns at Costco, such as the Wells Fargo Active Cash Card and the Bank of America Unlimited Cash Rewards Card.
Here's a breakdown of the rewards you can earn with the Costco Anywhere Visa Card:
You can redeem your cash-back rewards once per year in February for the previous year, and you receive your cash-back rewards in the form of a credit card reward certificate.
Security and Protection
The Costco Anywhere Visa Card by Citi offers robust security and protection features to safeguard your purchases.
You're protected against unauthorized charges with $0 liability, and Citi Quick Lock lets you instantly lock and unlock your card if it's lost or stolen.
Damage and theft protection is also included, covering eligible purchases for up to 120 days (90 days for New York residents) with a coverage limit of $1,000 per item and $50,000 per calendar year.
This protection is a great feature to have, especially when making expensive purchases.
Travel and Benefits
The Costco Anywhere Visa Card by Citi offers a range of travel benefits that can save you money and provide peace of mind while traveling. With this card, you'll get 24/7 emergency assistance for things like travel arrangements, medical referrals, and legal issues.
No Foreign Transaction Fees means you can use your card overseas without incurring extra fees. This is a huge advantage when traveling abroad.
Intriguing read: Canadian Credit Card No Foreign Transaction Fees
Traveling with family or companions? You're covered with the card's emergency assistance benefit, which is available to family members and traveling companions, even if you're not traveling with them. This means you can get help when you need it, no matter who's with you.
Here are some key travel benefits to know about:
- Damage and Theft Protection: Covers eligible purchases up to 120 days of purchase (90 days for New York residents) with a coverage per item of $1,000 and a coverage limit per calendar year of $50,000.
- Rental Car Insurance: Provides secondary rental car insurance covering up to $50,000 in accidental damage to your rental car.
- Car Rental Insurance: Covers you for up to $50,000 in repairs (or the cash value, whichever is less) of a car rental reserved in full with this card.
Car Rental Insurance
If you're planning a road trip or a vacation that involves renting a car, you're in luck. The Costco Anywhere Visa Card by Citi offers excellent car rental insurance coverage.
You can reserve a rental car with this card and be covered for up to $50,000 in repairs, or the cash value, whichever is less, in case of theft or damage. This coverage is also good for both domestic and international rentals.
To activate this benefit, you'll need to waive the CDW (collision damage waiver) at the rental agency counter. This is a crucial step, so don't forget to do it.
For more insights, see: Credit Cards with Primary Rental Car Insurance
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If you're renting a car outside the US, you'll receive primary insurance coverage, which means you're fully protected. However, if you're renting domestically, the coverage is secondary, meaning it kicks in after any other insurance you may have.
It's worth noting that this benefit doesn't cover peer-to-peer rental platforms like Turo, so if you're planning to rent a car through one of those services, you'll need to look elsewhere for coverage.
Roadside Assistance Service
If you're a cardholder within the US, including Hawaii, Alaska, Puerto Rico, and the US Virgin Islands, you've got access to 24/7 roadside assistance.
You'll pay a pre-negotiated price for each service call, and the services included are towing/winching, jumpstart, change of flat tire (you must have a spare), lock-out service (when the key is inside the vehicle), and up to two gallons of gas delivered.
The primary cardholder is the only one covered for this benefit, and they must be physically with the car in order to be eligible.
Here are the services you can expect with roadside assistance:
- Towing/winching
- Jumpstart
- Change of flat tire (you must have a spare)
- Lock-out service (when the key is inside the vehicle)
- Up to two gallons of gas delivered
Travel Assistance
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Travel Assistance is a valuable benefit that can make a big difference when you're on the road. The Costco Anywhere Visa Card by Citi provides 24/7 emergency assistance for things like travel arrangements, medical referrals, and legal issues.
You'll have access to free information and advice, but be aware that you'll still need to pay for any services you request. This benefit is available to you, your family members, and traveling companions, even if you're not traveling together.
If you're traveling within the US, you'll also have access to a roadside assistance dispatch service. This service is available 24/7 and includes benefits like towing, jumpstart, and lock-out service. The primary cardholder is the only one covered for this benefit, and they must be physically present with the car to be eligible.
Here are some of the specific services you can expect from the roadside assistance dispatch service:
- Towing/winching
- Jumpstart
- Change of flat tire (you must have a spare)
- Lock-out service (when the key is inside the vehicle)
- Up to two gallons of gas delivered
Keep in mind that the roadside assistance dispatch service is only available within the US, including Hawaii, Alaska, Puerto Rico, and the US Virgin Islands.
Special Tickets
The Costco Anywhere Visa Card by Citi comes with a special perk that can help you score seats to popular events. With the Citi Entertainment program, you'll get access to tickets for thousands of events before they're available to the general public.
EV Charging Stations
You'll earn 4% cash back at EV charging stations with the Citi Costco Anywhere Visa Card by Citi for up to $7,000 in spending per year, making it one of the best credit cards for EV charging.
Just note that this 4% cash back is only applicable to EV charging at gas stations, not at other types of locations.
On a similar theme: Why Are Businesses Charging to Use Credit Cards
Frequently Asked Questions
What charge card does Costco use?
Costco accepts the Costco Anywhere Visa Card by Citi and other Visa network credit cards. You can use these cards for purchases at Costco warehouses.
How do I get 4% cash back from Costco?
To earn 4% cash back, make eligible gasoline purchases up to $7,000 per year with your Costco Anywhere Visa Card by Citi. This reward rate applies to gas purchases within the annual limit, then drops to 1% thereafter.
How does the Costco Citi card work?
The Costco Citi card offers cash back rewards, earning 4% on gas, 3% on restaurants and travel, and 2% on all other Costco purchases. Earning rates vary after $7,000 in annual spend.
Sources
- https://www.cnbc.com/select/key-things-to-know-about-the-costco-anywhere-visa-card/
- https://www.nerdwallet.com/article/credit-cards/benefits-citi-costco
- https://thepointsguy.com/news/why-costco-anywhere-visa-card/
- https://upgradedpoints.com/credit-cards/reviews/costco-anywhere-visa-citi-card/
- https://www.businessinsider.com/personal-finance/credit-cards/costco-anywhere-visa-card-review
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