The Costco Anywhere Visa® Business Card by Citi is a unique business credit card that offers significant rewards for business owners, particularly those who frequently shop at Costco. Tailored for small business needs, it comes with a range of benefits, attractive rewards, and unique advantages that can streamline business expenses and maximize savings.

Main information about the card

The Costco Anywhere Visa® Business Card by Citi is available exclusively to Costco members, making it a versatile tool for business owners who already rely on Costco for supplies and operations. The card’s structure is designed to reward spending in specific categories, such as gas, dining, and travel, along with purchases made at Costco.

One of the standout features of this card is the impressive rewards system. Cardholders earn 4% cash back on eligible gas purchases (including Costco gas) up to $7,000 per year. After reaching that limit, the rewards drop to 1% cash back.

Additionally, users receive 3% cash back on dining and eligible travel purchases, 2% on all Costco purchases (in-store and online), and 1% on all other purchases. The card also offers a $0 annual fee, but it requires an active Costco membership, which comes with its own annual fee.

As a Visa card, it is accepted virtually everywhere, providing business owners with flexibility both in their daily operations and during travel. The card also integrates seamlessly with Costco’s ecosystem, making it especially useful for Costco loyalists.

Qualification requirements

To qualify for the Costco Anywhere Visa® Business Card by Citi, applicants need to be members of Costco. If you’re already running a business and frequently shop at Costco, this card could be a natural fit. The qualification process follows standard credit card procedures, with approval based on the applicant’s credit score and overall financial standing.

Typically, applicants with good to excellent credit scores (around 700 or higher) have better chances of being approved. However, meeting the credit score requirement doesn’t guarantee approval. Citi will also assess your business’s financial health, including income, expenses, and overall debt levels.

Additionally, having a clean credit history and no significant outstanding debt will increase your chances of securing this card. Costco membership, which is mandatory, starts at $60 annually for a basic membership, or $120 for an Executive Membership. Executive Members receive an additional 2% reward on their Costco purchases, which pairs well with the card’s benefits.

Benefits

The Costco Anywhere Visa® Business Card by Citi offers business owners a variety of rewards and benefits that cater to both personal and business needs. With the flexibility of using the card at any location that accepts Visa, cardholders can maximize their rewards through various spending categories.

The 4% cash back on eligible gas purchases is particularly attractive for businesses with fleets or frequent travel. This benefit applies to not only gas bought at Costco but also other fuel stations, making it a convenient option for businesses that operate across multiple locations. Additionally, the 3% cash back on dining and travel expenses benefits businesses that frequently take clients out or have employees traveling for work.

When shopping at Costco, users earn 2% cash back, which can add up quickly for businesses purchasing bulk supplies or office essentials. The 1% cash back on all other purchases rounds out the benefits, ensuring that even small expenses contribute to the overall rewards.

Moreover, the card offers protection benefits such as purchase protection and extended warranty coverage. These features are particularly useful for businesses that invest heavily in equipment and supplies, giving them peace of mind when making significant purchases.

Pros

The Costco Anywhere Visa® Business Card by Citi is a solid choice for business owners who are looking to maximize their rewards while keeping costs down. Its perks align well with the needs of businesses that have regular gas, travel, dining, and Costco-related expenses. 

Here’s a summary of the key advantages:

• Generous cash back categories: Earn up to 4% cash back on gas and 3% on travel and dining.
• $0 annual fee: Enjoy all the benefits without the need to pay for an annual fee (Costco membership required).
• Costco compatibility: Earn 2% back on all Costco purchases, both in-store and online.
• Widely accepted Visa: Use the card at any retailer that accepts Visa, increasing flexibility.
• Purchase protection and extended warranty: Protection for business-related purchases.

Cons

While the Costco Anywhere Visa® Business Card by Citi comes with many advantages, it’s not without its limitations. These downsides may make the card less appealing to certain business owners, depending on their spending habits and needs.

Here’s a summary of the disadvantages:

• Requires Costco membership: You must have a Costco membership, which carries its own annual fee, to even apply for this card.
• Cap on gas rewards: The 4% cash back on gas is limited to the first $7,000 spent annually, which might not be sufficient for larger businesses.
• Delayed rewards redemption: Cash back can only be redeemed once per year, when you receive your annual reward certificate.
• Rewards redeemable only at Costco: The reward certificate must be redeemed at a Costco location, limiting flexibility.

How to apply

Applying for the Costco Anywhere Visa® Business Card by Citi is a straightforward process, especially for existing Costco members. The application can be completed online through the Citi website or at any Costco location.

Before starting the application, ensure you have your Costco membership number ready, as it will be required. During the application process, you will also need to provide basic information about your business, including its legal name, tax ID number, and annual revenue. Citi will also ask for information about your personal finances, as they assess both personal and business creditworthiness.

Once your application is submitted, Citi will review it and provide a response, typically within a few business days. If approved, your card will arrive by mail, and you can start using it immediately for both business and Costco-related purchases.

Is the card worth it after all?

The Costco Anywhere Visa® Business Card by Citi is a powerful tool for businesses, particularly those that frequently shop at Costco and spend heavily on gas, travel, and dining. The card offers robust cash-back opportunities in these categories, which can lead to significant savings for businesses that align their spending with these rewards.

However, the card’s value is less pronounced for businesses that don’t use Costco regularly or don’t spend much in the gas, dining, or travel categories. Additionally, the requirement of a Costco membership and the limitation on reward redemptions might be inconvenient for some.

For businesses already invested in Costco, this card is a natural extension of the membership, offering solid rewards and useful benefits. For others, it may be worth considering alternative business credit cards that offer more flexibility in terms of where and how rewards are redeemed.

Conclusion

The Costco Anywhere Visa® Business Card by Citi is an excellent choice for businesses that are already part of the Costco ecosystem and want to maximize rewards in key spending categories. With no annual fee, the potential for significant cash back, and added protections, it offers strong value for the right kind of business.

However, if your business doesn’t spend much on gas, dining, or travel, or if you prefer more flexibility with how and where you can redeem rewards, there might be other cards better suited to your needs. Overall, this card is a standout option for Costco members who want to make the most of their membership while earning valuable rewards.