Costco store credit card offers its esteem members a full package benefits and rewards which can turn their everyday spending on gas, travel and dining into rich rewards at the wholesale club, however, these big discounts can’t be gotten at the store itself.
The Costco Anywhere Visa Card by Citi is an “open-loop” store card, it, therefore, means that this card can be used elsewhere and not limited to Costco only. In many instances, you may end up being rewarded if the card is used elsewhere.
Big Gas Rewards
For many that driving becomes a hobby, this card’s rich gas rewards draw your attention to the various perks it comes with.
At 4% back on up to $7,000 in gas spending a year, a cardholder could earn $280 annually just at the pump. This is aside from the 1% back you could actually get on any gas purchases beyond that cap. This benefit and reward are indeed enticing.
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Rich Rewards On Dining And Travel
The Costco Anywhere Visa Card also offer 3% cashback on dining and travel is unlimited. This is one of the significant offer rates by some premium travel cards with annual fees in the hundreds of dollars.
No Foreign Transaction Fees
The Costco Anywhere Visa Card by Citi charges no extra fee on purchases abroad unlike many other cash-back credit cards. If you travel internationally, you will continue earning rewards without facing a 3% penalty on every purchase you make.
The Costco Anywhere Visa Card by Citi is just a perfect card (choice) for loyalist of the wholesale club. And because the credit card is a Visa, you don’t necessarily need to worry anymore when you want to shop, for you have found the right card to shop with both at the Costco Store or elsewhere.
The most significant thing about this card is that, cardholders find it precious when spending a lot on gas, restaurants and travel, and who don’t want to worry about needing to make up for an annual fee.
Lastly, it can provide a lot of value for people who travel often, especially for those who spend time abroad.
As a store card, the Costco Anywhere Visa Card by Citi carries plenty of goodies in its cart. The card can indeed be used anywhere, not just at Costco, and it offers impressive rewards rates across a wide variety of categories. Its annual fee is $0.
But there are a couple of economy-size caveats there: You have to be a Costco member to get the card (or to realize any benefit from it), and that does require a yearly membership fee. And while the card’s rewards rates are generous in some categories, they are not particularly high for Costco purchases, and redemption is not straightforward.
Pros
- There is high cash back rates
- The card has $0 annual fee and
- 0% foreign transaction fee
Cons
- Redemption happens only once a year
- Requires a Costco membership
- No sign-up bonus
Costco Anywhere Visa Card by Citi: Core features to consider
The Costco Anywhere Visa Card by Citi comes with a gratifying combination of rewards rates that are enjoyed when expenses are made daily. In addition, the credit card also has some decent travel benefits. That is to say, the card is restrictive with rewards redemption. And while there’s a $0 annual fee, it is not free either.
Cash back rates
From the beginning, cardholders will find it easy to stand up cashback with the Costco Anywhere Visa Card by Citi. Here’s what you’ll get.
- 4% cashback on the first $7,000 spent each year on eligible gas purchases worldwide (1% back after that)
- 3% cash back on restaurant and eligible travel purchases worldwide.
- 2% cashback on all purchases at Costco and Costco.com
- 1% cashback on all other purchases.
What this means is that the card does not offer a sign-up bonus for new cardholders- something many other cashback cards have offered their customers.
Membership Requirement
There is no annual fee charge on this card, but one is expected to have a Costco membership.
The cost implication involved of becoming an annual membership for Costco is $60 or $120, depending on which tier you want.
Therefore, if you are going to shop at Costco and pay that fee regardless, it may not necessarily bother you. But if you’re paying the annual membership fee just to carry the card, it may not be worth it.
Rewards redemption
This card can only pay out your cashback just one time in a year whereas other top-notch cash back credit cards do allow a cardholder to claim his/her earned rewards anytime it reaches a certain limit, in most cases, it could be when one deems it fit.
In an ideal circumstance, to claim your reward is to get a statement credit or a direct deposit to your checking account, but rather with this card, you will only receive a rewards certificate, which you can redeem for cash or merchandise at Costco warehouses in the U.S.
These extra hoops may make some cash back enthusiasts run the other direction. But if you don’t mind waiting and letting your rewards pile up and don’t mind the limited redemption options-it may not matter.
No foreign transaction fees
The good news about The Costco Anywhere Visa Card by Citi is, it doesn’t charge any foreign transaction fees, which is uncommon among many top cashback credit cards.
Therefore, whether you are traveling domestically or abroad, this card is a worthy travel friend.
Other card details to know
Despite the enticing features of Costco Anywhere Visa Card by Citi’s, there are also some few other things to know before you apply.
- This card can also serve as your Costco membership ID that can guarantee your entry into a warehouse’s front door.
- Whenever this card is closed or your Costco membership, consider you have forfeited any cashback you earned for the year.
- With this card, you will also get purchase protection and extended warranty coverage.
- The card has a variable 15.24% APR on purchases and balance transfers.
Who Should use the Costco Anywhere Visa Card
The Costco Anywhere Visa Card by Citi is indeed an excellent choice for loyalists of the wholesale club. And because the credit card is a Visa, you don’t have to be worried about having the right card when you shop there.
It is indeed valued most importantly by cardholders who spend a lot on gas, restaurants and travel, and needed not be bothered about needing to make up for an annual fee.
Finally, it can provide a lot of value for people who travel often, especially for those who spend time abroad.
