Costco Anywhere Visa® Card by Citi Review [2024]: Earn Cash Back and Get Big Savings at Costco

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This card earns cashback rewards to use at Costco stores, but is it right for your wallet? (Citi is a FinanceBuzz partner.)
Updated June 12, 2024
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Avid Costco shoppers know that you can save lots of money buying from wholesale clubs. Whether you need paper goods, shampoo, frozen foods, or a big jar of pickles, you’ll find affordable prices on thousands of products.

And if you’re a loyal Costco customer, it may be worth applying for the Costco Anywhere Visa® Card by Citi. It allows you to turn your everyday purchases into cashback rewards to use at your favorite store. Because store membership is a requirement to qualify for this cashback credit card, Costco loyalists should take advantage of the opportunity to save on their purchases.

Is this credit card a good option for everyone, though? The answer depends on what you’re looking for in your next rewards credit card.

Earn up to 4% cash back

4.5

Costco Anywhere Visa® Card by Citi

Current Offer

Receive an annual credit card reward certificate, which is redeemable for cash or merchandise at U.S. Costco warehouses, including Puerto Rico

Annual Fee

$0

Rewards Rate

4% cash back on eligible gas and EV charging purchases for the first $7,000 per year and then 1% thereafter; 3% on restaurants and eligible travel purchases; 2% on all other purchases from Costco and Costco.com; and 1% on all other purchases

Benefits and Drawbacks
Card Details

In this Costco Anywhere Visa review:

Who should get the Costco Anywhere Visa Card?

The Costco Anywhere Visa is perfect for loyal Costco customers. You must be a Costco member to apply for this card, so already having ties to the wholesale club makes sense. Plus, you can justify your club membership fee by earning valuable rewards on gas, restaurant, and travel purchases. It’s also one of the few credit cards accepted at Costco.

This card is also a logical choice for frequent travelers. Besides earning 3% cash back for restaurants and eligible travel purchases, this Costco credit card offers plenty of additional perks that rival many travel rewards credit cards. It’s also a solid choice for international travel.

People looking for a versatile credit rewards program need not apply. Despite its rewards-earning potential, the Costco Anywhere Visa has one of the most restrictive rewards programs around. If you don’t care to use your cashback rewards specifically for Costco purchases, you should look at other rewards credit cards instead.

In order to qualify for the Costco Anywhere Visa, you’ll need excellent credit. If you don’t meet the credit requirement, it’s better to look for a rewards credit card that matches your current credit situation.

Card basics

Card type Cash Back
Card issuer Citi
Annual fee $0
Reward rate 4% cash back on eligible gas and EV charging purchases for the first $7,000 per year and then 1% thereafter; 3% on restaurants and eligible travel purchases; 2% on all other purchases from Costco and Costco.com; and 1% on all other purchases
Recommended credit score Excellent
Foreign transaction fee None

Costco Anywhere Visa Card benefits and perks

  • No foreign transaction fees: The Costco Anywhere card carries no fees for purchases made outside the U.S. Travelers can use this card abroad with no worries about extra charges.
  • Car rental insurance: When you use your Costco Anywhere card to rent a car, you get coverage against theft or damage.
  • Exclusive entertainment: Costco Anywhere cardmembers gain access to Citi Entertainment, which includes access to exclusive experiences, ticket presales, and more.
  • Zero-liability coverage: Cardmembers receive protection against any unauthorized charges on their Costco Anywhere Visa.

Drawbacks to the Costco Anywhere Visa Card

  • No welcome bonus: Unlike many cashback credit cards, the Costco Anywhere Visa doesn’t offer a welcome bonus offer for new cardholders.
  • Membership requirement: Although the Costco Anywhere card carries no annual fee, you do need a Costco membership to qualify for it. Costco memberships start at $60 per year.
  • Credit requirement: You need excellent credit to qualify for this card, which may limit some people from qualifying for it. Being a Costco member alone isn’t enough to be eligible for this credit card.

Earning cash back with the Costco Anywhere Visa Card

Potential earnings in years one and two

Here's a look at how your cash back can add up with the Costco Anywhere Visa card. Remember, this is an estimation. The actual value will be determined by how much you spend and in which categories you spend.

Year one earnings: $696

Year two earnings: $696

These values are based on the FinanceBuzz Credit Card Rewards Valuation Model which takes a look at cash back earned via spending with the Costco Anywhere Visa.

Best ways to earn

The Costco Anywhere Visa offers multiple ways to earn cash back quickly. With this card, you can earn 4% on eligible gas and EV charging purchases for the first $7,000 per year and then 1% thereafter.

Both restaurants and eligible travel purchases net 3% cash back. Unfortunately, Costco and Costco.com purchases only net 2% cash back for cardmembers. It would be amazing to see a higher rate for this, but because membership is a requirement, the issuer is likely banking on you spending money in Costco stores anyway. All other purchases earn 1% cash back.

Categories Rewards rate
Eligible gas and EV charging purchases for the first $7,000 per year and then 1% thereafter 4%
Restaurants and eligible travel purchases 3%
Costco and Costco.com purchases 2%
All other purchases 1%

Maximizing your redemptions

The Costco Anywhere comes up short on cashback reward redemptions for many people. There’s only one redemption option — a rewards certificate good for use in-store at Costco.

Not only do cashback rewards only come in the form of credit at Costco stores, but rewards are also only distributed once a year. Instead of being able to redeem whenever you want or when you hit a set amount like other cashback credit cards, rewards certificates are distributed after your February billing statement closes.

Here are more details about rewards certificates from the Costco Anywhere credit card:

  • Certificate must be used anytime before December 31 in the year in which it was issued.
  • It must be used in-store.
  • It can only be used once.
  • If you don’t spend the full value of the certificate, you’ll receive the balance in cash at the register when you check out.

You might enjoy a shopping spree once a year if your go-to store for groceries and other supplies in Costco. The thought of rewards building up over a year provides a nice annual bonus for some, but others may prefer more freedom with their cashback redemptions.

Costco Anywhere Visa Card FAQs

Can I use my Costco Visa card anywhere?

The Costco Anywhere card is accepted anywhere in the world where Visa is accepted. It’s not strictly for use in Costco stores or on Costco.com.

Does the Costco Anywhere have foreign transaction fees?

The Costco Anywhere Visa has no foreign transaction fees, which makes it a great card to use to earn rewards for international purchases.

Does the Costco Visa card have travel protection?

The Costco Anywhere Visa comes with several travel benefits. It provides travel and emergency assistance 24/7, before or during travel. Also, it comes with car rental insurance, roadside assistance, and no foreign transaction fees.

Does the Costco Anywhere have an annual fee?

There is no annual fee associated with the Costco Anywhere Visa. However, Costco membership is required to obtain this credit card, which starts at $60.

Do Costco cash rewards expire?

Costco cash rewards expire after December 31 in the year in which they were issued.

Other cards to consider

If you choose to do most of your grocery shopping outside of Costco, the Blue Cash Preferred® Card from American Express might be a better option. With this card, you can earn 6% cash back at U.S. supermarkets (for first $6,000 per year, after that 1%) and on select U.S. streaming services, 3% cash back at U.S. gas stations and on eligible transit, and 1% cash back on other eligible purchases. 

With the Amex Blue Cash Preferred, you'll receive your cash back in the form of statement credits instead of store credit, which allows you to use your rewards in any way you choose. If you’re looking for a cashback card with a welcome bonus, you can earn a $250 statement credit after spending $3,000 on purchases in the first 6 months. It has a $0 intro annual fee for the first year, $95 per year thereafter. Terms apply.

Learn more about this card in our Blue Cash Preferred® Card from American Express review.

Another versatile cashback credit card with lucrative rewards is the Chase Freedom Flex℠. It has a $0 annual fee, and cardholders get 5% cash back on rotating quarterly categories you activate (on up to $1,500 spent) and travel purchased through the Chase Ultimate Rewards portal; 3% cash back on drugstore purchases and dining at restaurants (including takeout and eligible delivery service); and 1% cash back on all other purchases. 

Plus, you earn a $200 bonus after you spend $500 on purchases in your first 3 months from account opening. Unlike the Costco Anywhere card, this card comes with an introductory 0% introductory APR for 15 months on purchases (then 20.49%-29.24% Variable). It’s the perfect card if you need to make a large purchase and pay it off over time.

Learn more about this card in our Chase Freedom Flex℠ review.

Earn up to 4% cash back

4.5

Costco Anywhere Visa® Card by Citi

Why We Like It

Receive an annual credit card reward certificate, which is redeemable for cash or merchandise at U.S. Costco warehouses, including Puerto Rico

See how these cards compare:

Blue Cash Preferred® Card from American Express
Blue Cash Preferred® Card from American Express
  • High cashback rates at U.S. supermarkets, U.S. gas stations, eligible transit, and U.S. streaming subscriptions (cash back is in the form of Reward Dollars that can be redeemed as a statement credit)
  • Introductory APR for purchases and balance transfers
  • $7 monthly statement credit toward an eligible Disney bundle subscription (subject to auto renewal) of $9.99 or more (enrollment required)
  • See rates and fees | Terms Apply
Chase Freedom Flex℠
Chase Freedom Flex℠
  • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • Up to 5% cash back on spending
  • Perks from Lyft, DoorDash, and more

Author Details

Kevin Payne Kevin Payne is a freelance writer specializing in student loans, credit cards, personal finance, and travel. He is a regular contributor to Club Thrifty, Millennial Money, and Student Loan Planner. As the budget and family travel expert behind FamilyMoneyAdventure.com, Kevin recently turned his writing side hustle into his full-time career. He lives in Cleveland, Ohio, with his wife and four kids.