The Costco Anywhere Visa® by Citi is a premium cash-back credit card designed exclusively for Costco members. As a no-annual-fee card (provided that you maintain an active Costco membership), it offers substantial rewards across several categories, making it a top choice for Costco fans and frequent travelers alike.
With rewards tailored to popular spending categories such as gas, dining, travel, and Costco purchases, this card stands out among other rewards cards due to its high cash-back rates and unique benefits tailored for Costco members.
Qualification requirements
To qualify for the Costco Anywhere Visa® by Citi, applicants need to meet specific credit and membership criteria. First and foremost, an active Costco membership is mandatory, as the card is exclusively available to Costco members.
In addition to membership, applicants are typically required to have a good to excellent credit score—generally a FICO score of 720 or above—to enhance their approval chances. This score requirement aligns with many other premium cash-back and rewards cards, signaling that the card is targeted toward individuals with established credit histories and responsible financial habits.
Meeting these credit requirements is crucial, as the card offers generous cash-back rewards, particularly on gas, travel, dining, and Costco purchases, making it ideal for those who can maximize its benefits. Applicants with the necessary credit profile and Costco membership can enjoy valuable perks tailored to frequent Costco shoppers and individuals looking for substantial rewards on everyday spending.
Benefits
The Costco Anywhere Visa® by Citi offers competitive cash-back rates designed to maximize everyday and travel spending. The standout benefits include:
- 4% cash back on eligible gas and EV charging purchases (up to $7,000 per year, then 1% thereafter), making it a strong option for those with high fuel expenses or electric vehicles.
- 3% cash back on dining and eligible travel, which covers everything from dining out to hotel stays, airfare, car rentals, and even Costco Travel purchases. This makes the card particularly appealing to frequent travelers and food lovers.
- 2% cash back on all Costco and Costco.com purchases, a benefit not commonly found in many wholesale club rewards cards.
- 1% cash back on all other purchases, ensuring a baseline reward on every purchase outside of the card’s core bonus categories.
Additional card benefits include no foreign transaction fees, travel accident insurance, roadside assistance, worldwide car rental insurance, and access to Citi Entertainment for exclusive events and experiences. Cardholders also benefit from damage and theft purchase protection, adding peace of mind to big-ticket purchases.
Pros
The Costco Anywhere Visa® by Citi is ideal for Costco members who want a well-rounded rewards card. Key advantages include:
- Strong rewards in essential spending categories like gas, dining, and travel.
- No annual fee, provided you maintain an active Costco membership.
- No foreign transaction fees, making it suitable for international travel.
- Versatile cash-back redemptions at U.S. Costco warehouses, which are redeemable as a certificate annually.
Pros
- High cash-back rates on common spending categories
- No foreign transaction fees
- Includes purchase and travel protection
- No annual fee with Costco membership
Cons
Despite its appealing features, the Costco Anywhere Visa® by Citi has a few limitations that potential applicants should consider. One drawback is the lack of a welcome bonus, which can be a deciding factor for those comparing multiple rewards cards.
Furthermore, cash-back rewards are redeemable only once per year via an annual rewards certificate, which can only be used at Costco, limiting flexibility compared to other cards that allow for more frequent or varied redemption options.
Additionally, holding a Costco membership is a mandatory requirement, which may be inconvenient for non-members. The relatively high credit score needed—typically a FICO score of 720 or above—may also make approval challenging for those still building or repairing credit. Consequently, while the card offers valuable rewards for Costco loyalists, those seeking flexibility and immediate redemption options may find other cards more suitable.
Cons
- Annual cash-back redemption limits flexibility
- No sign-up bonus
- Requires Costco membership
- High credit score requirement
How to apply
Applying for the Costco Anywhere Visa® by Citi is a simple process, but it requires an active Costco membership, which can be purchased directly on Costco’s website. Once you have a membership, you can apply for the card through several convenient options: online via Citi’s application page, by calling Citi’s customer service, or in person at a Costco warehouse.
The approval process is usually quick, often providing applicants with a decision within minutes. If approved, you can expect to receive the card by mail within a few weeks. The application process is designed for ease, making it accessible to Costco members interested in maximizing their cash-back rewards on everyday purchases.
Is the card worth it after all?
The value of the Costco Anywhere Visa® by Citi largely depends on how much you spend in the card’s high-reward categories. For those with significant fuel expenses, frequent travel, and dining habits, this card offers excellent rewards without an annual fee, provided you maintain your Costco membership.
However, the annual redemption requirement and lack of flexibility in redeeming rewards may not suit everyone. For Costco members who shop regularly at the warehouse and prioritize cash-back rewards, this card is among the best options available.
Conclusion
The Costco Anywhere Visa® by Citi is an excellent choice for loyal Costco members aiming to maximize cash-back rewards on gas, travel, dining, and Costco purchases. Although the card has some limitations, including the once-a-year reward redemption via an annual certificate and the absence of a welcome bonus, its competitive cash-back rates still make it a valuable option for those who frequently shop at Costco and spend across diverse categories.
With rewards rates notably high for gas and dining, the card effectively enhances value for regular Costco users and those who can take full advantage of its rewards structure across everyday spending areas.
