Costco Anywhere Visa Credit Card Review 2019

Costco Anywhere Visa Credit Card Review 2019

Share: Rating: 4.3 stars out of 5

The Smart Investor has collected card information independently. Issuers did not provide the details, nor are they responsible for their accuracy. The review is not a recommendation, the actual rates/fees may be different.

Costco Anywhere Visa Card by Citi is a store credit card that offers many ways to earn cash back. This card can be used anywhere Visa is accepted, not just at Costco. Costco is a large merchandiser that offers low prices for members. There is a membership fee to shop at Costco. A couple of years ago Costco dropped American Express as their store card and replaced it with the Costco Anywhere Visa Card by Citi. This card offers lots of benefits to cardholders and works well with the Costco membership that also offers many benefits.

Costco Anywhere Visa Card

4.3/5
 Costco Anywhere Visa Card Credit Card Review 2019

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Our Bottom Line

Great Card For Costco Members
 
 


Credit Rating Requirements

Good – Excellent Credit

Pros
  • 2% Cashback on Spending at Costco, 1% on All Other Spending

  • No Annual Fee

Cons
  • No Sign-Up Bonus or 0.00% APR Introductory Rate

  • Redemption Restrictions

Highlights

  • 4% Cashback on Gas, 3% on Restaurants and Travel
  • No Foreign Transaction Fee
  • Extended Manufacturer Warranty
  • Travel Perks

 
Here’s a summary of the main pros & cons (click to see explanation or scroll down):

ProsCons
4% Cashback on GasRedemption Restrictions
3% Cashback on Restaurants and TravelNo Sign-Up Bonus or 0% APR Introductory Rate
2% Cashback on Spending at Costco, 1% on All Other SpendingThere are Better Cashback Cards
No Annual FeeHigh APR
No Foreign Transaction Fee
Extended Manufacturer Warranty, Travel Perks

Costco Anywhere Visa Credit Card – Benefits

Let’s take a look at the benefits of the Costco Anywhere Visa card and see if it’s the right one for your wallet or not.

4% Cashback on Gas

Costco Anywhere Visa Card by Citi has 4% cash back on gas purchases up to $7,000 in purchases a year, and then 1% after that.

3% Cashback on Restaurants and Travel

Costco Anywhere Visa Card by Citi has 3% cash back for any spending on restaurants. It also has 3% cash back on eligible travel, which includes airfare, hotels, cruises, car rentals, and Costco Travel. Both spending categories do not have a spending limit.

2% Cashback on Spending at Costco, 1% on All Other Spending

Costco Anywhere Visa Card by Citi cardholders earn 2% on all spending at Costco and Costco.com with no limit. Also, you earn 1% on all other spending without limit.

No Annual Fee

Costco Anywhere Visa Card by Citi does not have an annual fee as long as you are a Costco member. Costco membership starts at $60 a year. You can start earning cash back immediately.

No Foreign Transaction Fee

Costco Anywhere Visa Card by Citi does not have a foreign transaction fee. This is unusual for a non-travel rewards card. This is a great perk because you can earn cash back on your travels.

Extended Manufacturer Warranty

The Costco Anywhere Visa Card by Citi gives cardholders 2 years more on all manufacturer warranties.

Travel Perks

The Costco Anywhere Visa Card by Citi has a rental car and travel insurance. It also includes roadside assistance and protection for flight cancellations.

Costco Anywhere Visa Credit Card – Drawbacks

Here are the most important cons you should consider before applying to the Costco Anywhere Visa card:

Redemption Restrictions

Costco Anywhere Visa Card by Citi cash back can only be redeemed or spent at Costco. This redemption also only happens once a year in February. With other cards you can redeem rewards almost anytime.

No Sign-Up Bonus or 0% APR Introductory Rate

Costco Anywhere Visa Card by Citi does not have a sign-up bonus or any introductory rate like many cards on the market.

High APR

The APR for the Costco Anywhere Visa Card by Citi is a 17.49% variable rate for all that are approved which is high for a card that requires borrowers with excellent credit histories; however, it does not reach into the high 20’s like many other cards. A credit card cash advance variable rate is  27.24 %.

There are Better Cashback Cards

There are other cashback cards in the market that offer higher cashback rewards. Some have rotating categories, but depending on your spending habits and with a little planning, you can earn more cash back on your purchases. If you are a big spender and don’t mind an annual fee, there are other cards with higher cashback rewards, but not my much.

Alternatives to Costco Anywhere Visa Card

There are other credit cards that do offer comparable cash back rewards – we’ve summarized the most popular cards which can use as an alternative to the Costco Anywhere Visa Card:

Sam's Club MastercardSam’s Club Mastercard

Sam’s Club Mastercard is a competitive store card from Costco’s biggest competitor. The Sam’s Club Mastercard offers an introductory cashback reward on gas of 5% for the first year, then 1% after that. Sam’s Club Mastercard has 3% back on restaurants and travel. The card has 1% on all other spending, including Sam’s Club. This card also does not have an annual fee, but you still have to pay for the Sam’s Club membership.

CitiBank Double CashCitiBank Double Cash

CitiBank Double Cash card is a comparable cashback card. It does not have a sign-up bonus but does offer a longer introductory 0.00% APR for 18 months. The CitiBank Double Cash card offers 1% cash on all purchases and 1% cash back after paying for those purchases. You could make 2% back on all purchases as long as you pay your credit card bill. CitiBank Double Cash rewards does not have an annual fee.

Chase Freedom UnlimitedChase Freedom Unlimited

Chase Freedom Unlimited is a great cash back card for those with good to excellent credit. The 1.5% cash back is one of the highest in the industry without having an annual fee or the hassle of figuring out which month for which type of purchases gets cash back.

It does have a generous sign up bonus and introductory APR period, but beware of the 3% transfer fee if wanting to take advantage of 0% APR. One benefit of adding this card if you are already a Chase credit card holder is that you can pool your rewards. If you travel overseas this card should be left at home, with a 3% transaction fee outside of the United States that will eat up your cash back rewards.

Walmart Credit CardWalmart Credit Card

Walmart Credit Card is a cashback store credit card only accepted at Walmart and Murphy USA gas stations. This cashback card rewards loyal Walmart customers – you get 3% cash back at Walmart.com, 2% on gas, 1% at Brick and Mortar, $25 reward bonus after spending $75 and there is no annual fee. This is one of the credit cards on the market that is a store card that allows borrowers who do not have perfect credit to apply and be approved. This credit card also gives cardholders in-store financing on occasion.

Is the Costco Anywhere Visa Card Right for You?

The Costco Anywhere Visa Card by Citi is a great card for Costco members. It has very competitive cashback rewards and benefits. Those that are big Costco shoppers will benefit the most from this card. This card is also great for those who do a lot of traveling. The 3% cashback on travel rewards is better than most travel reward credit cards on the market. The biggest drawback to the Costco Anywhere Visa Card by Citi is you have to wait a year for your rewards.

Those rewards also have to be spent at Costco. If you are not a Costco member, you would want to pass on this card. There are better cash back cards but you have to jump through hoops to get the rewards. The Costco Anywhere Visa Card by Citi rewards are clear, they do not change, and are very competitive in each of the cashback categories.