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Although it’s 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 dining. However, the card is only offered to existing Costco members. If you cancel Costco membersYour Costco Anywhere Visa card will also be cancelled.
If you’re not an existing Costco member, should you pay for the membership to get access to the Costco Anywhere Visa card? And if you’re a Costco member, do the benefits and perks offered outweigh other rewards cards?
Before you apply for this store card, here are five important things to know about the Costco Anywhere Visa card:
Balance transfer fee The balance transfer fee applied with this offer is 5% on each balance transfer; $5 minimum.
APR balance transfer15.49% (Subject to change)
Late payment fee Up to $40
Foreign transaction fees 0%
Penalty APR Up to 29.99% (Subject to change)
- 4% cashback on qualifying gas for the first $7,000 each year and 1% thereafter
- 3% cashback on eligible travel and restaurant purchases
- 2% cashback on all other purchases from Costco and Costco.com
- 1% cashback on all other purchases
Before you can apply for a Costco Anywhere Visa card, you must be an existing Costco warehouse member. When you apply for a store card, the first piece of information you have to enter is Costco members numbers.
The annual cost is $60 for a Gold Star membership or $120 for a Gold Star Executive membership, plus sales tax, where applicable. Gold Star members get more discounts and privileges on Costco services and a 2% annual bonus up to $1,000 on qualifying purchases at Costco and Costco Travel. These perks complement any cashback rewards you earn on purchases with your Costco Anywhere Visa card.
With no annual fees beyond the cost of a Costco membership, the Costco Anywhere Visa card can be a great option. But if you’re already a warehouse member of BJ’s or Sam’s Club, you have to decide if the additional cost of membership is worth it.
What should you know before applying?
1. You can earn rewards for buying more than Costco
Not like other storage card, an unlimited rewards program on Costco purchases. The Costco Anywhere Visa card rewards program offers tiered cashback offers based on the type of purchase you make:
- 4% cashback for the first $7,000 each year and 1% thereafter
- 3% cashback on eligible dining and travel
- 2% Cashback on Costco and Costco.com purchases
- 1% cashback on all other purchases
2. Your Costco purchases won’t make you the most money
While the Costco Anywhere Visa card is exclusive to Costco members, you won’t make the most of your Costco purchases. While gas, dining, and travel offer 3% to 4% cashback, purchases on Costco and Costco.com are only eligible for the 2% cashback bonus.
While that can be disappointing, most credit card cash back limit eligibility for rewards when purchasing goods at the warehouse. If you’re a frequent Costco shopper, an unlimited 2% cashback can be added, making the Costco Anywhere Visa card a must-have in your wallet.
3. You will get your rewards certificate once a year
If you’ve used other cash-back credit cards before, you can use them to redeem rewards for purchases or get refunds as soon as they show up on your statement. But with the Costco Anywhere Visa card, you only get the cashback bonus once a year in February of the previous year. You can also only redeem rewards for merchandise or cash directly at a Costco warehouse.
Learn more about how to redeem Costco credit card rewards.
4. You will get more benefits than just cashback rewards
The Costco Anywhere Visa card has a solid cashback program, but that’s not the only benefit you get with this store card. Cardholders also enjoy travel and shopping benefits when the card is used for purchases.
Costco Anywhere Visa Card Travel Benefits
When you pay for your rental car with your Costco Anywhere Visa card, you can save money by waiving the rental car company’s collision damage coverage because the card offers up to $50,000 in repairs. or replace the vehicle if it was damaged in an accident, stolen, vandalized, or damaged in a natural disaster.
You, your family members and traveling companions are also covered for travel and emergency assistance. This includes help with emergency travel arrangements, getting referrals, coordinating care, and getting advice if you are injured outside of the U.S. Emergency, and the cost of professional services that are not covered. longevity. The card also offers worldwide travel accident insurance, covering each eligible person up to $250,000 while traveling.
You can also use roadside assistance dispatching on any car you need in the United States, Puerto Rico and the U.S. Virgin Islands. You only pay for the service if you use insurance.
Another travel benefit is that there are no foreign transaction fees, no matter where in the world you are. Other cards may charge a foreign transaction fee of up to 3%, which can come as a surprise to cardholders when they review their statement after a holiday abroad.
Shopping benefits of the Costco Anywhere Visa card
Let’s say you use your Costco Anywhere Visa card or Costco rewards certificate to make a qualifying purchase. In that case, purchase protection against damage and theft will cover you for 120 days (90 days for residents of New York) up to $1,000 per item or amount. charged to the card or certificate, whichever is less. You can get coverage up to $50,000 per year and be required to call the police if the item is stolen.
Those same purchases are also covered by the warranty-renewed Costco Anywhere Visa card. Once the manufacturer’s and customer’s warranties have expired, Citi offers 24 months of extended warranties, up to $10,000 per item.
Which banks issue Costco cards?
Costco Anywhere Visa card issued by Citibank. The card has no annual membership fee, but you must be a current and active Costco member to apply for and keep the Costco Anywhere Visa card.
What forms of payment does Costco accept?
Costco accepts cash, checks, EBT, and Costco Shop Cards. Visa credit and debit cards are also only accepted in conjunction with Mastercard debit cards. Mastercard and American Express credit cards are not accepted at Costco, Costco.com, Costco gas stations, or Costco car washes.
How many guests can you bring to Costco?
Costco’s policy allows members to bring children and up to two guests each time they visit a warehouse. However, Costco members are the only ones who can make purchases. So if you take a customer to Costco, you have to pay and get a refund. This can be an advantage if you want to increase your rewards with a Costco Anywhere Visa card.
Is there an alternative to the Costco Anywhere Visa card?
The Costco Anywhere Visa Business Card almost like the Costco Anywhere Visa card, but it doesn’t allow transfers. Depending on your need for a business credit cardThere may be other options that better suit your criteria
