Costco Anywhere Visa Card by Citi

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Commuters and bulk buyers should consider this card for its excellent rewards.

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If you spend a ton on gas, or at Costco, and you don’t mind waiting to get your once-a-year disbursement, the Costco Anywhere Visa Card by Citi offers one of the industry’s highest payouts at the pump and is the only card offering year-round rewards for shopping at Costco.

Review

Most rewards cards exclude the big warehouse clubs, but the Citi Costco Anywhere Visa pays 2% back for every $1 spent at the shopping behemoth. You also can earn fat rewards on everyday spending in other places like 4% back on gas up to $7,000 a year (then 1%), 3% back on restaurants and eligible travel purchases and 1% on all other spending.

The card is free, but you have to be a Costco member to apply, which will cost you $60 annually to join. If you max out the gas spending cap of $7,000, you’ll earn $280 back just for fueling up. And you’ll still earn 3% dining out and on travel, plus 2% in Costco and 1% everywhere else.

There’s an OK 0% APR intro offer for seven months on purchases, which could be helpful if you’re planning to purchase a big-ticket item and want a few extra months to pay it off.

If you already have a Costco membership, it’s worth considering adding this card to your wallet for cash-back rewards you’ll earn at its warehouse stores. If you’re not a Costco member, but you know you’ll spend at least $7,000 a year on gas, it may be worth it to you to join just to get this card.

This otherwise excellent credit card loses points because the Costco Anywhere card comes with no sign-up bonus. That’s something consumers have come to expect from a quality rewards credit card.

Who should get this card

Typical suburban households who spend heavily on gas and groceries are most likely to benefit from the rewards structure of this card.

Advantages
  • No annual fee.
  • The rewards rate is higher in some categories, like gas, than on many other cards.
  • There’s an introductory 7-month 0% APR offer on purchases.
Disadvantages
  • You have to be a Costco member to be eligible, which starts at $60 annually.
  • You can only redeem your rewards once a year when a coupon is mailed in February, and only in-person at a Costco for either merchandise or cash back.
  • If you don’t spend much on gas, or at Costco, you may be better off with another card.
  • There’s no sign-up bonus.

Fees and APR

• There’s an introductory 7-month 0% APR offer on purchases, after that a variable 16.24% will apply.
• There’s no fee to own this card, but Costco membership is required, which starts at $60 annually for a basic membership.
• If you miss a payment or pay late, a penalty APR of up to 29.99% may apply indefinitely, plus you may incur a late fee of up to $37.
• You’ll pay a 3% foreign transaction fee on all purchases made outside the U.S.

Extras, perks and using rewards

This card comes all Citibank card benefits which include travel and emergency assistance, trip cancellation and interruption protection, lost and delayed baggage protection, roadside assistance and worldwide travel accident assistance.

Citi cardholders also get price protections with Citi Price Rewind, extended warranty protection and damage and theft purchase protections.

You’ll need to be patient, though, as you’ll only get your rewards once a year in February when Costco mails a redeemable certificate. You’ll need to bring that certificate to Costco to redeem for merchandise or cash at checkout.

How this card compares

Amazon Prime Rewards Visa Signature Card

This card offer is currently unavailable on Bankrate. To see more cards in this category, please visit our 0% apr category page.

Card Details
  • 5% back at Amazon.com.
  • 2% back at restaurants, gas stations, and drug stores.
  • 1% back on all other purchases.
Credit Needed Excellent
Regular APR 14.99% to 22.99%, based on your creditworthiness. These APRs will vary with the market based on the Prime Rate.
Annual Fee No Annual Fee.
Balance Transfers Intro APR

If you’re looking to earn maximum rewards back on your everyday shopping, you may want to consider the Amazon Prime Rewards Visa Signature Card. The card is free with a $99 Amazon Prime membership and the card pays 5% back on all Amazon.com purchases. Depending on how you spend, this card may result in greater net earnings for you.

Citi® Double Cash Card
Card Details
  • Earn cash back twice on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • Balance Transfers do not earn cash back
  • 0% Intro APR on Balance Transfers for 18 months. After that, the variable APR will be 14.49% - 24.49% based on your creditworthiness
  • Click 'Apply Now' to see the applicable balance transfer fee and how making a balance transfer impacts interest on purchases.
  • No categories to track, no caps on cash back, no annual fee*
Credit Needed Excellent
Regular APR 14.49% - 24.49%* (Variable)
Annual Fee $0*
Purchase Intro APR N/A
Balance Transfers Intro APR 0% for 18 months*

When it comes to rewards value, the Citi Double Cash Card ranks among the very best cash-back credit cards that charge no annual fee.

So why, you might ask, does this card not receive a higher score from Bankrate? There are a couple reasons, but the main thing dragging this card down is this: Because Citi Double Cash offers no sign-up bonus, it struggles to compete with many cards in this category.

Longer-term, the Citi Double Cash Card may earn you more rewards. The card earns an unlimited 1% cash back when you make a purchase and another 1% back when you pay for those purchases. Big spenders may find this nets more cash-back overall as there’s no ceiling on what you can earn back.

Card Details
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate
  • Enjoy new 5% categories each quarter like gas stations, restaurants and drugstores
  • Unlimited 1% cash back on all other purchases - it's automatic
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 15.99-24.74%. Balance transfer fee is 5% of the amount transferred, $5 minimum
  • No minimum to redeem for cash back
  • Cash Back rewards do not expire as long as your account is open
  • No annual fee
Credit Needed Good
Regular APR 15.99% - 24.74% Variable
Annual Fee $0
Purchase Intro APR 0% for 15 months
Balance Transfers Intro APR 0% for 15 months

The Chase Freedom card is fee-free and offers rotating bonus categories that pay 5% back, with a cap of $1,500 in each category and an unlimited 1% back on everything else. You also have to sign-up each quarter to get the bonus. An advantage of this card over Discover’s rotating bonus category cash-back cards it’s a Visa, which is more widely accepted than the Discover card.

Blue Cash Everyday® Card from American Express
Card Details
  • $150 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
  • No annual fee.
  • 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%).
  • 2% cash back at U.S. gas stations and at select U.S. department stores, 1% back on other purchases.
  • Low intro APR: 0% for 15 months on purchases and balance transfers, then a variable rate, currently 13.99% to 24.99%.
  • Expanding merchant acceptance: Over 1 million more places in the U.S. started accepting American Express® Cards in the last year.
  • Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits, gift cards, and merchandise.
  • Terms Apply.
  • See Rates & Fees
Credit Needed Excellent
Regular APR 13.99%-24.99% Variable
Annual Fee $0
Purchase Intro APR 0% on Purchases for 15 months
Balance Transfers Intro APR 0% on Balance Transfers for 15 months

Depending on your spending habits, the no-annual-fee Blue Cash Everyday Card from American Express may ultimately give you better cash-back earnings with a rate of 3% at U.S. supermarkets up to $6,000 in spending annually (then 1%), 2% at U.S. gas stations and select U.S. department stores and 1% on all other spending.

EDITORIAL NOTE

Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines, or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.