A cash-back or rewards credit card can be an effective part of your money-saving toolbox. But while you may be tempted to sign up for the shiniest, most dazzling card, some aren’t worth the annual fees or your time. When we found out about Costco’s members-only Citibank credit card, we wanted to find out if it was another run-of-the-mill piece of plastic or something special. Our verdict? Costco’s Anywhere Visa is a high rewards cash-back card that’s worthwhile for existing Costco members but not without its drawbacks.
Cash-Back Rewards
4% cash back on eligible gas for the first $7,000 per year, 1% thereafter
3% cash back on eligible travel and restaurant purchases
2% cash back on Costco purchases
1% cash back on all other purchases
The Fine Print
Annual Fee: $0 for Costco members
Foreign Transaction Fee: $0
Regular APR: 16.74% variable
Recommended FICO credit score: 781-850 (excellent)
Costco’s Citibank Card in a Nutshell
If you’re already a Costco member looking for a cash-back card, then you can’t go wrong with the wholesaler’s Citibank Anywhere card. It’s free for Costco members, it boasts hefty rewards on purchases like gas and travel, and it doubles as a Costco ID card. But given that non-members will have to pay a fee to join Costco anyway, there are better alternatives — like the Chase Sapphire Preferred Card — for consumers who do their shopping elsewhere.
The Costco credit card is my favorite thing
— Ella Hansen (@bagelpowered) April 2, 2022
Pros:
No annual fee for Costco members
No foreign transaction fees
Competitive cash-back rewards
Cons:
You’ll lose the card if you cancel your Costco membership
Non-members will have to pay Costco’s membership fee
Requires excellent credit
Frequently Asked Questions
Who should consider Costco’s Citibank credit card?
This card is great for Costco loyalists and frequent travelers. If you don’t shop at Costco and don’t plan on becoming a member, consider something else.
Where can I apply for a Costco Citibank card?
Where can I log into my Costco Citibank account?
Sign in at Citi.com.
How can I redeem my cash-back rewards?
Citibank will distribute cash-back rewards as an annual certificate once your February statement closes. You can redeem a certificate for cash or merchandise at any Costco Warehouse location.
Does Costco’s Citibank card have a foreign transaction fee?
No. Purchases abroad won’t incur extra fees.
