Costco Anywhere Visa Card – learn about everything about it

Have you heard of the Costco Anywhere Visa Card by Citi? If yes, you will learn a lot here. In this article, you will learn everything about the Costco Anywhere Visa Card by Citi.

Costco Anywhere Visa Card

Features of the card:

Rewards

  • Firstly, no welcome bonus.
  • Secondly, 4% cashback on eligible gas for the first $7,000 per year (then 1%); 3% cashback on restaurants and eligible travel purchases; 2% cashback on all other purchases from Costco and Costco.com; 1% cashback on all other purchases.
  • Thirdly, no annual fee, only a Costco membership is needed.
  • No intro APRfor purchases and balance transfers.
  • The regular APR is 15.24% variable on purchases and balance transfers.
  • No foreign transaction fee
  • Also, the balance transfer fee is either $5 or 3% of the amount of each transfer, whichever is greater.
  • Lastly, you must have excellent credit before applying for the card.

Advantages of the card

  • Reasonable 15.24% variable APR
  • Generous gas rewards
  • No fee charged on purchases made outside the U.S.

Disadvantages

  • Firstly, intending Costco card applicants must obtain membership first.
  • There is no welcome bonus.
  • Rewards are distributed once a year and can only be redeemed at U.S. Costco Warehouses.
  • Rewards are distributed once a year and can only be redeemed at U.S. Costco Warehouses
  • Rewards are distributed once a year and can only be redeemed at U.S. Costco Warehouses
  • Lastly, estimated rewards earned after 1 year: $406 while estimated rewards earned after 5 years: $2,031

Costco Card has a large rewards program

The card is perfectly ideal for gas guzzlers, foodies and frequent travelers.

Below are the rewards:

  • 2% cashback on all other purchases from Costco and Costco.com
  • 3% cashback on restaurants and eligible travel purchases
  • 4% cashback on eligible gas for the first $7,000 per year and then 1% thereafter.
  • Finally, 1% cashback on all other purchases.

Please note that cardholders of this card who make purchases at the store don’t earn the highest amount of cashback. They earn 2% cashback on purchases from Costco and Costco.com. Only frequent shoppers at Costco for groceries enjoy this. It is best to go for a reward card that gives higher bonus rewards at supermarkets.

You can only collect rewards once a year

The cashback you earn with the Costco Anywhere Visa® Card is provided via an annual reward certificate once your February billing statement closes. To redeem the certificate for a check or merchandise, you have to head to a U.S. Costco Warehouse. That may come as an unexpected surprise if you didn’t read the fine print.

To redeem your Costco credit card rewards, you have to be a Costco member. All cardholders must have a paid Costco membership, which starts at $60 for Gold Star and Business levels. After some time, it doubles in price to $120 for Gold Star Executive and Business Executive members.

Further, the card gives helpful perks for travelers. If you are a frequent traveler, you will enjoy a lot of perks like travel and emergency assistance, worldwide travel accident insurance, and worldwide car rental insurance.

Lastly, the card has no foreign transaction fees. People who travel abroad frequently will enjoy this.

Conclusion

If you are a Costco member who wants to earn competitive rewards on gas, dining, and travel purchases, the Costco Anywhere Visa® Card is perfect for you.  But if you don’t need a card that will require you to be a member of any club, avoid the card. However, if you’re not loyal to Costco and want a card that doesn’t require a membership but still earns high rewards, check out other cards.

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