The Costco Anywhere Visa® card is only available to current Costco members. If you cancel your Costco membership, your Costco Anywhere Visa® card will also be canceled. Although it is a store card, Costco members can use the Costco Anywhere Visa® card anywhere Visa cards are accepted and earn rewards for everyday purchases like gas, travel and meals. .
If you are not a current Costco member, would you have to pay for membership to gain access to the Costco Anywhere Visa® card? And if you’re a Costco member, do the perks and perks offered outweigh other rewards cards? Before you apply for this store card, here are some important things to know about the Costco Anywhere Visa® card.
Important things to know about the Costco Anywhere Visa card
1. You must be a Costco member to apply
Before you can apply for the Costco Anywhere Visa® card, you must be a current Costco warehouse member. When applying for the store card, the first information you need to enter is your Costco membership number.
The annual cost is $ 60 for a Gold Star membership or $ 120 for a Gold Star Executive membership, plus sales tax, if applicable. Gold Star members get more discounts and benefits on Costco services and an annual reward of 2% up to $ 1,000 on qualifying purchases at Costco and Costco Travel. These benefits are in addition to the cash back rewards you get when shopping with the Costco Anywhere Visa® card.
With no annual fees outside of the cost of the Costco membership, the Costco Anywhere Visa® card could be a great option. But if you’re already a warehouse member at BJ’s or Sam’s Club, you need to decide if the extra cost of membership is worth it.
2. Earn rewards on more than Costco purchases
Unlike other store cards, the rewards program isn’t limited to Costco purchases. The Costco Anywhere Visa® Card by Citi rewards program offers cash back at multiple levels depending on the type of purchase you make:
4% cashback on the first $ 7,000 per year and 1% thereafter
3% discount on eligible meals and travel
2% discount on Costco and Costco.com purchases
1% discount on all other purchases
3. Costco purchases are a lower level reward
While the Costco Anywhere Visa® card is exclusive to Costco members, you won’t earn the most Cash Back on Costco purchases. While gas, meals and travel qualify for 3-4% cash back, Costco and Costco.com purchases are only eligible for 2% cash back.
While it can be disappointing, most cash back credit cards limit eligibility for rewards on warehouse purchases. If you’re a frequent Costco shopper, unlimited 2% cash back can be added, making the Costco Anywhere Visa® card a great card to have in your wallet.
4. Award certificates are issued once a year
If you’ve used other cash back credit cards before, you may be used to redeeming your rewards for purchases or cash back as soon as they appear on your statement. But with the Costco Anywhere Visa® card, you only get your cash back rewards once a year in February for the previous year. You can also exchange it only for merchandise or cash in person at a Costco warehouse.
Learn more about how to redeem Costco credit card rewards.
5. There are more benefits than just cash back
The Costco Anywhere Visa® card has a strong cash back program, but those aren’t the only perks you get with this store card. Cardholders also have access to travel and shopping benefits when the card is used to make purchases.
Travel Benefits of the Costco Anywhere Visa Card
When you pay for your rental car with the Costco Anywhere Visa® card, you can save money by forgoing the rental car company’s collision damage waiver as the card offers up to $ 50,000 to repair. or replace the car if it is damaged in an accident, stolen, vandalized or damaged by a natural disaster.
You, your family members and your traveling companions are also covered for travel assistance and emergency assistance. This includes assistance in making emergency travel arrangements, obtaining referrals, coordinating care, and obtaining consultations if you are injured outside of the US emergency, and professional service charges are not covered. The card also provides worldwide travel accident insurance, covering each qualified person up to $ 250,000 during the trip.
You can also use the roadside assistance dispatch service in any car anywhere you need it in the United States, Puerto Rico, and the United States Virgin Islands. You only pay for the service if you use the coverage.
Another advantage of travel is the absence of overseas transaction fees, no matter where you are in the world. Other cards may charge up to a 3% overseas transaction fee, which may come as a surprise to cardholders once they review their statement after a vacation abroad.
Benefits of purchasing the Costco Anywhere Visa card
Suppose you are using your Costco Anywhere Visa® Card or Costco Reward Certificate to make a qualifying purchase. In this case, purchase damage and theft protection covers you for 120 days (90 days for New York residents) up to $ 1,000 per item or the amount charged on the card or certificate, depending on the lesser of the two. You can get up to $ 50,000 in coverage per year and must file a police report if the item is stolen.
These same purchases are also covered by the Costco Anywhere Visa® Card Extended Warranty. After the manufacturer’s warranty and the warranty purchased by the customer expire, Citi offers 24-month extended warranty coverage, up to $ 10,000 per item.
Costco Everywhere Visa card faq
Is there an alternative to the Costco Anywhere Visa card?
The Costco Anywhere Visa Business Card is pretty much the same as the Costco Anywhere Visa card, but it does not allow transfers. Depending on your business credit card needs, there may be other options that better suit your criteria.
Which bank issues the Costco card?
The Costco Anywhere Visa card is issued by Citibank. The card does not have an annual membership fee, but you must be a current and active Costco member to apply for and maintain the Costco Anywhere Visa card.
What types of payments does Costco accept?
Types of payments Costco accepts such as cash, checks, EBTs, and Costco store cards. Visa credit and debit cards are also accepted, as well as Mastercard debit cards only. Mastercard and American Express credit cards are not accepted at Costco, Costco.com, Costco gas stations or Costco car washes.
How many guests can I bring to Costco?
Costco’s policy allows members to bring children and up to two guests each time they visit a warehouse. However, only Costco members can make purchases. So if you bring a guest to buy merchandise from Costco, you have to pay for it and be refunded by the guest. This could be an advantage if you want to increase your rewards using the Costco Anywhere Visa card.