The Costco Anywhere Visa® Card by Citi pays up to 4% cash back and can serve as your Costco membership card. On the downside, rewards are paid out just once a year.
- 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter
- 3% cash back on restaurants and eligible travel purchases
- 2% cash back on all other purchases from Costco and Costco.com
- 1% cash back on all other purchases
- Annual Fee: $0 with your paid Costco membership and enjoy no foreign transaction fees on purchases
- Receive an annual credit card reward certificate, which is redeemable for cash or merchandise at U.S. Costco warehouses, including Puerto Rico
Pros & Cons
- Up to 4% cash back
- No annual fee (although Costco membership is required)
- Use card as your Costco membership ID
- Rewards paid once a year
- No signup bonus
- No 0% APR offers
The Costco card is of course best suited for those who shop at Costco. While it’s 4% cash back on gas gets a lot of attention, 2% cash back card on all purchases will likely generate higher overall rewards.
As such, the Costco card is best as a second credit card. In fact, we carry the card but don’t use it as Costco. Although it pays 2% cash back at Costco, we can do better than that without Bank of America Premium Rewards card.