Citi is a TPG advertising partner.
Costco Anywhere Visa® Card overview
The Costco Anywhere Visa® Card by Citi (see rates and fees) is one of the best store credit cards on the market. If you already have a Costco membership, this card is a solid way to earn rewards across a wide range of purchases, including eligible gas, restaurants, eligible travel and at Costco — both in-store and online. Card Rating*: ⭐⭐⭐
*Card Rating is based on the opinion of TPG's editors and is not influenced by the card issuer.
While plenty of cards earn transferable currencies offering rewards on groceries, wholesale clubs such as Costco are almost always left out of the rewards category.
While you typically won't find the best value from most store credit cards — as they rarely have a great rewards structure or benefits — the Costco Anywhere Visa is an exception. With a solid rewards structure that covers more than just Costco purchases, it's a viable option if you regularly shop at the wholesaler and beyond. Approved applicants typically have had a very good credit score of 740* or higher.
*The Points Guy credit ranges are derived from FICO® Score 8, which is one of many different types of credit scores. If you apply for a credit card, the lender may use a different credit score when considering your application for credit.
Unlike some store credit cards, you're earning rewards across more than just Costco purchases — the highest bonus categories on the card are actually eligible gas stations and electric vehicle (EV) charging. Factor in the long-term savings potential of Costco Travel, and this card is quite valuable for families and beginner travelers who aren't looking to add multiple points and miles cards to their wallets.
Do keep in mind that you need a Costco membership to apply for the card. If you already have one or plan on getting one, this card is essentially a no-annual-fee card. If you don't shop at Costco enough to make a yearly membership worth it, you may want to consider other card options.
Related: Is the Costco Anywhere Visa worth it?
Costco Anywhere Visa pros and cons
| Pros | Cons |
|---|---|
|
|
Costco Anywhere Visa welcome offer
Sadly, the Costco Anywhere Visa doesn't currently have a welcome offer. But it offers long-term benefits that still make the card worth it for many, especially since it charges no annual fee for those with a Costco membership.
Daily Newsletter
Reward your inbox with the TPG Daily newsletter
Join over 700,000 readers for breaking news, in-depth guides and exclusive deals from TPG’s experts
Related: The best limited-time offers and promotions for credit cards
Costco Anywhere Visa benefits
Aside from the perks you get from being a Costco member, the Costco Anywhere Visa does not offer cardholders with other benefits other than no foreign transaction fees.
Earning cash back on the Costco Anywhere Visa
The earning structure is where this card really stands out. You'll earn 4% cash back on eligible gas and EV charging purchases (on up to $7,000 per year; then 1%), 3% back at restaurants and on eligible travel purchases, 2% back on in-store and online Costco purchases, and 1% on everything else.
If you're maximizing gas purchases alone, that's $280 in rewards each year just for that bonus category alone. However, it's worth pointing out that you'll earn just 1% back (not 4%) on gas and EV charging purchases from superstores, supermarkets, convenience stores and warehouse clubs other than Costco or on fuel purchases that aren't for automobiles (such as jet or boat fuel).
Costco offers two levels of consumer membership — Gold Star ($60) and Executive ($120). If you shop at Costco frequently throughout the year, combining this card with an Executive membership will earn even more rewards.
Executive members earn 2% back on the first $50,000 spent each year at Costco (up to $1,000 in additional rewards), Costco.com and Costco Travel. Those rewards are stackable with the Costco Anywhere Visa. That means you can earn up to 5% on Costco Travel and 4% on other Costco in-store and online purchases (though the 2% Executive earning does not apply to Costco gas purchases).
If you aren't shopping at Costco enough throughout the year to justify an Executive membership, the additional 2% back likely won't make it worth purchasing the higher level. But if you already shop at Costco enough to have the Executive membership, this no-annual-fee card is an excellent addition to your wallet.
Redeeming cash back on the Costco Anywhere Visa
Costco cash back is redeemed once per year in the form of a reward certificate. You'll receive your reward after your February billing statement closes. Once you have the reward certificate, you can redeem it for merchandise or cash at a Costco location. Depending on the cash back amount and which Costco you redeem at, you might receive your redeemed cash back in the form of a check or electronic transfer instead.
This redemption method is a bit more restrictive than your typical cash-back card, but it's rare for a store card to offer rewards that can be used on anything besides merchandise. While waiting for an entire year to get your cash-back rewards can be inconvenient, you can redeem them for cash that can be used on anything you want.
Which cards compete with the Costco Anywhere Visa?
Even though you're earning a solid return across multiple categories with the Costco Anywhere Visa, that doesn't make it the right card for everyone. If you don't shop at Costco regularly, or if you are looking for a card that earns rewards you can use throughout the year, you may want to look at other options:
- If you want more cash back on gas and groceries: The Blue Cash Preferred® Card from American Express is an excellent option. You'll earn 6% back at U.S. supermarkets (on up to $6,000 spent per calendar year; then 1%) and on select U.S. streaming services (including Disney+), and 3% on transit and on gas at U.S. gas stations, with a $0 intro annual fee for the first year, then $95 (see rates and fees). Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout. For more information, read our full review of the Blue Cash Preferred.
- If you want a simpler earning structure: Consider the Citi Double Cash® Card (see rates and fees). With up to 2% earnings on all purchases — 1% when you make a purchase and another 1% when you pay it off — it's difficult to beat this no-annual-fee card. Plus, you can convert your cash-back rewards into fully-transferable ThankYou points with another card. For more information, read our full review of the Citi Double Cash card.
- If you want to earn travel rewards: The Chase Sapphire Preferred® Card earns 3 points per dollar on dining and 2 points per dollar on travel purchases. It has a $95 annual fee, making it a great option for anyone looking to keep their annual fees low while earning travel rewards. For more details, check out our full review of the Chase Sapphire Preferred.
For additional options, check out our full list of the best cash-back credit cards.
Read more: The 5 best Visa cards for Costco purchases
Is the Costco Anywhere Visa worth it?
If you have a Costco membership and shop at Costco regularly, the Costco Anywhere Visa Card is a worthwhile card to consider. With a solid rewards structure covering many purchases, including gas, restaurants, travel, and Costco, this card offers good value, especially for families and beginner travelers. The card offers no annual fee, and additional rewards for Executive members, making it a useful addition to your wallet if you shop at Costco regularly. Do keep in mind the restrictions around how you can redeem your cash back, though.
Bottom line
While the Costco Anywhere Visa's redemption restrictions can be frustrating, it does have a solid earning structure and rewards for Costco loyalists — and you can always use the yearly cash-back check as an unofficial travel fund for the expenses that points and miles can't cover.
Apply here: Costco Anywhere Visa
For rates and fees of the Blue Cash Preferred, click here.
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
