Costco Anywhere Visa Credit Card Review 2020

Rating:
4.3/5
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. 

The Costco Anywhere Visa Card offers 4% on eligible gas, including gas at Costco for the first $7,000 per year and then 1% thereafter. You’ll also earn 3% on restaurants and eligible travel, 2% on all other purchases from Costco and 1% on all other purchases.

The Costco Anywhere Visa Card does not have an annual fee as long as you are a Costco member (Costco membership starts at $60 a year).

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. If you’re a fan of Costco – it may be the best card for you.

Costco Anywhere Visa Card

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Credit Rating Requirements

PROS

CONS

Highlights

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

Pros

Cons

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.

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

The Costco Anywhere Visa Card 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.

The cardholders earn 2% on all spending at Costco and Costco.com with no limit. 

Also, you earn 1% on all other spending without limit.

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.

The Costco Anywhere Visa Card 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.

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

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:

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.

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

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 Mastercard is a competitive store card from Costco’s biggest competitor.

The Sam’s Club Mastercard is a great card for Sam’s Club shoppers. It has very competitive cashback rewards and benefits in some spending categories.

Sam’s Club Mastercard has 5% cash back on gas purchases up to $6,000 in purchases a year, and then 1% after that. It also has 3% cash back for any spending on restaurants and travel and % cash back on all other spendings with no limit. The rewards categories do not change and are great for those who spend a lot on gas and traveling and who are Sam’s Club members.

The card does not have a foreign transaction fee or annual fee as long as you are a Sam’s Club member (Membership starts at $45 a year). This card can be used anywhere Mastercard is accepted, not just at Sam’s Club. 

Capital One Walmart Credit Card  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. 

The Walmart Credit Card earns 5% cash back at Walmart.com and Walmart app. This includes orders made online and products picked up at local stores. Also, the card earns 2% cash back on Walmart stores,restaurants & travel and gas. This must be at Walmart or Murphy USA gas stations.

The Walmart Credit Card also earns 1% on all spending at everywhere else where Mastercards acceptedAlso, as part of an Introductory offer for new cardholders, you earn 5% back in Walmart stores for the first 12 months when you use your Capital One® Walmart Rewards™ Card with Walmart Pay.

The card has no annual fee and the fact that average credit is also accepted, it can be good for those who want to build or rebuild their credit.

The Target card has many perks and rewards for cardholders but the biggest is that customers get 5% off every purchase at Target, no limits. Target Red card can be used online for purchases and when it is used, cardholders get 2 day free shipping.

The card doesn’t have an annual fee, and can be great for average credit (around a 615 credit score) who want to use it to build or rebuild their credit. In addition, Cardholders get an extra 30 days for returns with the Target Red card.

The card can only be used at Target stores but after a few years of use, Target will upgrade some cardholders to a Mastercard that can be used anywhere. 

However, there are almost no perks for using the card outside of Target and the ongoing APR is very high, 24.40%.

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.