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Costco Anywhere Visa® Card by Citi Review (2025): Is It Worth Your Wallet?
February 6, 2025
The Costco Anywhere Visa® Card by Citi is a popular cash-back credit card exclusively for Costco members. It promises generous rewards on gas, dining, travel, and Costco purchases – all for no annual fee. But does this card live up to the hype for everyday shoppers and Costco loyalists? In this comprehensive review, we’ll break down the Costco Anywhere Visa’s rewards, benefits, drawbacks, and how to make the most of it.
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Key Features at a Glance
- Annual Fee: $0 (No fee with an active Costco membership).
- Rewards: 5% cash back on gas at Costco (and 4% on other eligible gas and EV charging, on up to $7,000/year); 3% back on restaurants and eligible travel; 2% back at Costco and Costco.com; 1% back on all other purchases.
- Other Perks: No foreign transaction fees; purchase protection on new purchases; access to Citi Entertainment presale events; Citi® Quick Lock for security.
- Welcome Bonus: None.
- Required Credit: Generally need good to excellent credit (around 720+ recommended) for approval.
Earning Cash Back Rewards with the Costco Visa
One of the biggest draws of the Costco Anywhere Visa is its tiered cash-back program. This card offers higher rewards in several everyday spending categories:
Gas & EV Charging
Earn 5% cash back on gas at Costco stations, and 4% on other eligible gas and EV charging purchases. This elevated gas reward makes the card a top contender for Costco members who frequently fill up at Costco or drive electric vehicles.
Restaurants & Travel
Earn 3% cash back on restaurants and eligible travel purchases. Whether it’s dining out or booking flights and hotels, you get a solid 3% reward. This rivals many general travel and dining cards, especially considering the no-annual-fee structure.
Costco Purchases
Earn 2% cash back on all purchases at Costco and Costco.com. This effectively stacks with the separate Costco membership perk for Executive members, meaning Executive members can net up to 4% total on Costco spending.
All Other Purchases
Earn 1% cash back on everything else. While not remarkable, this is standard for many flat-rate cards – and the Costco Visa’s strong bonus categories make up for the lower base rate.
There’s no limit to the total cash back you can earn – even though certain categories have annual caps, you can keep using the card for 1% rewards beyond those thresholds. And with no foreign transaction fees, the Costco Visa can be used abroad or for international purchases without extra cost, making that 3% back on travel especially useful.
Redemption: How Costco Cash Rewards Work
Earning is only half the story – the Costco Anywhere Visa has a unique redemption system. Card rewards accrue as Costco Cash Rewards that you can redeem once a year. Here’s what to expect:
Annual Reward Certificate
Your cash-back rewards accumulate throughout the year and are issued as a single certificate once your February billing statement closes each year. For example, all rewards earned in 2024 will be tallied and a certificate for the total amount is available by late February 2025.
Redeeming Rewards
The reward certificate can be redeemed at Costco for merchandise or cash. Simply present it at the Costco member service counter or checkout. If you prefer cash, most warehouses will issue you the balance in cash or check once you’ve redeemed the certificate.
Use-It-or-Lose-It
The certificate expires on December 31 of the year issued, so you have until the end of that year to cash it in. If you fail to redeem by then, you forfeit those rewards. Likewise, if you cancel your Costco membership, you lose any unredeemed rewards – so plan to redeem before canceling.
No Flexible Redemptions
Unlike many cash-back cards, you cannot redeem at any time or for statement credits. You must wait for the annual certificate. This once-a-year schedule can be a drawback if you prefer frequent reward payouts or if you need the cash back sooner rather than later.
Bottom line on redemption: It’s a bit old-fashioned and requires patience. However, the upside is a single lump-sum reward that many cardholders use as a “bonus” to spend during the year. Just be mindful of the timing and don’t forget to redeem it.
Comparing Costco Anywhere Visa® Card by Citi with Other Credit Cards
When considering the Costco Anywhere Visa® Card by Citi, it's helpful to compare it with other popular options in the cashback credit card category:
- Annual fee: $0
- Sign-up bonus: Cash bonus after meeting spending requirements
- Key rewards: 5% on travel purchased through Chase Travel℠, 3% on dining and drugstores, 1.5% on all other purchases
- Standout feature: Flexible redemption options including cash back, travel, and gift cards
Capital One Savor Cash Rewards Credit Card:
- Annual fee: $0
- Sign-up bonus: Cash bonus after meeting spending requirements
- Key rewards: 3% on dining, entertainment, popular streaming services, and grocery stores
- Standout feature: No foreign transaction fees
Blue Cash Everyday® Card from American Express (rates & fees):
- Annual fee: $0
- Welcome offer: Cash bonus after meeting spending requirements
- Key rewards: 3% at U.S. supermarkets (up to $6,000 per year, then 1%), 3% cash back up to $6,000 per year, then 1%. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout
- Standout feature: This card offers a generous intro of APR on purchases and balance transfers
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.
Each card offers unique benefits tailored to different spending habits and preferences. Consider your personal financial goals when choosing the best card for you.
Key Takeaways:
- Costco Anywhere Visa® Card by Citi excels in offering cash back opportunities for Costco members
- Chase Freedom Unlimited® offers diverse category bonuses
- Capital One Savor Cash Rewards Credit Card rewards dining and entertainment spending
- Blue Cash Everyday® Card from American Express provides strong rewards on everyday purchases
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Additional Card Benefits and Protections
Beyond earning cash back, the Costco Anywhere Visa® Card by Citi includes a few perks that add value, especially given its no-fee status:
Travel and Shopping Perks
While the card doesn’t have built-in travel insurance, it does come with Citi Entertainment access, which gives cardholders special access to concert and event tickets before the general public. It’s a nice perk if you enjoy live events and want early ticket access.
No Foreign Transaction Fees
As mentioned, you won’t pay extra fees when swiping this Visa abroad or on international websites. This makes it a solid choice for travel purchases, especially overseas Costco Travel packages or dining internationally.
Citi Quick Lock
If you misplace your card, you can use the Citi mobile app to instantly lock your Costco Visa to prevent unauthorized use, and unlock it if it turns up. This added security gives peace of mind.
Overall, the Costco Anywhere Visa’s benefits are straightforward – it lacks luxury perks or extensive travel protections, focusing instead on everyday value (high cash-back rates, purchase security, and basic conveniences). For a no-annual-fee card, this is a reasonable trade-off.
Pros and Cons
Like any credit card, the Costco Anywhere Visa has its strengths and weaknesses. Here’s a quick summary:
Pros:
- High Cash-Back Rates: Outstanding 4-5% rewards on gas/EV charging, plus 3% on dining and travel – categories that can rack up significant rewards for many families.
- No Annual Fee (with Membership): You pay $0 annual fee for the card itself. If you’re already paying for a Costco membership, the card is essentially free to hold.
- No Foreign Transaction Fees: Great for international travel or online shopping abroad, saving ~3% on each foreign currency purchase.
- Costco Integration: Doubles as your Costco membership ID, reducing one card in your wallet. Rewards can be redeemed conveniently at Costco for cash or goods.
- Extra Security/Protections: Purchase protection on new items, fraud monitoring, and easy card lock/unlock features add peace of mind.
Cons:
- Costco Membership Required: No membership, no card. You must maintain a Costco membership to apply and to keep the card active. If you cancel Costco, your card will be closed and any unredeemed rewards forfeited.
- Inconvenient Rewards Redemption: Cash back is only issued once per year as a certificate. You have to remember to redeem it at Costco before year-end – no monthly or on-demand redemptions. This delay can be frustrating.
- Limited Use of Rewards: Rewards are redeemed at Costco. While you can get cash, it requires a Costco visit. Other cash-back cards let you redeem for statement credits or bank deposits anytime, which is more flexible.
- Mediocre Costco Reward Rate: Perhaps surprisingly, you earn just 2% at Costco itself. Some other cards might earn more than 2% on general purchases – meaning the Costco Visa isn’t the only card you could use for Costco shopping.
- No Sign-Up Bonus or 0% APR offer: Unlike many competing credit cards, there’s no introductory bonus or 0% interest period. All value comes from ongoing rewards.
In short, the Costco Anywhere Visa Card is fantastic for Costco members who maximize the bonus categories, but less attractive if you don’t frequent Costco or if you prefer more flexible reward redemption.
Who Should Consider (or Skip) the Costco Anywhere Visa?
Consider this card if:
- You’re a Costco member who spends a lot on gas, dining, travel, and Costco purchases. The cash back in these categories can easily offset the membership fee and then some.
- You want a fee-free card for worldwide use. Costco Visa’s combination of no annual fee (with membership) and no foreign fees is rare. It can serve as a go-to card abroad, unlike some store cards that aren’t as widely accepted or charge foreign transaction fees.
- You prefer simplicity and shop regularly at Costco. This card effectively consolidates your membership and payment card, and rewards you for loyalty to Costco. If you’re already in the warehouse every week, earning extra cash back there and on gas is a no-brainer.
Skip this card if:
- You aren’t a Costco member (or live far from one). The rewards won’t justify paying for a membership you don’t use. Non-members can find other general cashback cards with no fee and good rewards.
- You value flexible or frequent redemption. If waiting a year to access your cash back sounds annoying, consider cards with monthly statement credits or points you can redeem anytime.
- Most of your spending isn’t in the Costco Visa’s bonus categories. For instance, if you spend heavily on groceries outside Costco or on specific categories like streaming or home improvement, other cards might yield more. Likewise, if you want travel perks like insurance, lounge access, or big sign-up bonuses, a travel rewards card (with an annual fee) could be more worthwhile.
- You already have a great gas/dining card. If you hold, say, a premium gas rewards card or a 2% everywhere card, the incremental benefit of 4-5% on gas or 3% on dining might not outweigh the hassle of managing another card (plus the Costco-only redemption). Always compare how this card fits into your overall credit card strategy.
How to Maximize Rewards (Pro Tips)
Upgrade to Executive Membership
If you aren’t one already and you spend a lot at Costco, consider the Executive membership. It costs $60 extra, but earns you 2% back on Costco purchases (up to $1,000/year) on top of the credit card’s 2% – effectively doubling your Costco in-store rewards to 4%. Big Costco spenders will see the higher membership pay for itself in combined rewards.
Use the Card for Travel Abroad
Since it’s a Visa with no foreign fees, bring it on international trips. You’ll earn 3% back on travel and dining overseas without the surcharge other cards impose. It’s a good backup if your primary travel card charges foreign fees or isn’t a Visa.
Pair with a 2% Card
For non-bonus purchases, a flat 2% cashback card can earn double what the Costco Visa would. Use the Costco Visa for its 4-5-3-2% categories, and a 2% card for everything else – that way you’re always earning above 1% on every purchase.
Leverage Tools like Kudos
If you have multiple cards, it can be hard to remember which card gives the best rewards for each purchase. Consider using Kudos, a free AI-powered browser extension, which automatically recommends the best card from your wallet when shopping online. For example, Kudos will remind you to use your Costco Visa at gas stations or Costco.com to maximize cash back, but might suggest a different card for other categories – ensuring you never miss out on bonus rewards. This way, you get the most value from the Costco Anywhere Visa alongside your other cards.
Conclusion: Is the Costco Anywhere Visa® Card by Citi Right for You?
For Costco devotees and heavy commuters, the Costco Anywhere Visa® Card by Citi can be a fantastic everyday card. It turns your Costco membership into a dual-purpose tool for earning significant cash back on common expenses. The lack of an annual fee and no foreign transaction charges make it easy to justify holding, especially if you leverage the card’s 4%–5% bonus categories fully. Families who max out gas rewards and do big Costco shops will find this card pays dividends in cash back.
However, the card is not without its quirks. The once-a-year rewards redemption model requires patience and planning, and the card’s true value shines only if you actually shop at Costco regularly. If you’re a more casual Costco customer or demand more flexible rewards, you might be better served by a general cash-back card or a travel card that aligns with your spending habits.
In summary, the Costco Anywhere Visa is worth it for Costco loyalists seeking strong cash-back returns on gas, travel, dining, and wholesale shopping. Just go in knowing that you’ll need to keep your Costco membership active and be okay with the annual redemption schedule. Used wisely – and possibly in tandem with tools like Kudos to optimize your spending – this card can indeed deliver excellent value, truly earning its keep in your wallet.
Costco Anywhere Visa® Card – FAQs
Is the Costco Anywhere Visa® Card by Citi worth it?
Yes, the Costco Anywhere Visa® Card is definitely worth it if you frequently shop at Costco or spend heavily on gas, dining, and travel – it offers high cash-back rates (up to 4% back) with no annual fee.
Do I need a Costco membership to get the Costco Anywhere Visa?
Yes, you’ll need an active Costco membership to apply for the Costco Anywhere Visa® Card by Citi.
Do I need excellent credit to get the Costco Anywhere Visa?
Yes, you’ll typically need an excellent credit score (around 750 or higher) to get approved for the Costco Anywhere Visa.
Can I redeem my Costco credit card rewards anytime?
No, you can’t redeem your Costco Visa rewards whenever you want – they’re issued only once per year (after your February billing cycle closes) as an annual reward certificate.
Does the Costco Anywhere Visa really give 4% back on gas?
Yes, you’ll earn 4% cash back on eligible gas and EV charging purchases (5% back at Costco gas stations) for the first $7,000 per year, then 1% thereafter
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