Costco Anywhere Visa^® Card by Citi Review

If you’re a Costco member, you can earn a generous amount of cash back on everyday purchases — like gas and dining — with the Costco Anywhere Visa^® Card by Citi, from our partner Citi.

Cardholders earn 4% cash back on eligible gas and EV charging purchases for the first $7,000 per year and then 1% thereafter. 3% cash back on restaurants and eligible travel purchases. 2% cash back on all other purchases from Costco and Costco.com. 1% cash back on all other purchases.. If you max out the $7,000 spend cap on gas, you can earn $280 cash back on those purchases alone each year.

While the Costco Anywhere Visa^® Card by Citi charges a $0 annual fee, beware that you will be responsible for paying an annual Costco membership.

We highlight the pros and cons of the Costco Anywhere Visa^® Card by Citi to help you determine if it’s the right card for you.

• Cash back on everyday purchases

  The Costco Anywhere Visa^® Card by Citi offers 4% cash back on eligible gas and EV charging purchases for the first $7,000 per year and then 1% thereafter. 3% cash back on restaurants and eligible travel purchases. 2% cash back on all other purchases from Costco and Costco.com. 1% cash back on all other purchases..

  Just know, certain purchases are not eligible for the elevated cash back rates. For example, gas purchased at superstores, supermarkets, convenience stores, warehouse clubs other than Costco and fuel used for non-automobile purchases do not qualify for the gas category. Purchases made at bakeries and certain restaurants and cafes inside department stores, grocery or warehouse clubs do not qualify for the restaurant category. And purchases made at timeshares, campgrounds, bed and breakfasts and purchases of train and commuter travel do not qualify for the travel category.

• Annual fee

  The Costco Anywhere Visa^® Card by Citi comes with a $0 annual fee. But keep in mind you that you will be responsible for paying an annual Costco membership fee (more details below).

• 0% foreign transaction fees

  With the Costco Anywhere Visa^® Card by Citi, you won’t be charged additional fees when you use your card to make purchases outside of the U.S.

• No sign-up bonus

  Cash back cards typically provide the opportunity to earn a sign-up bonus, but the Costco Anywhere Visa^® Card by Citi does not.

• Limited redemption options

  While cash back cards often allow cardholders to redeem rewards for cash or statement credits throughout the year, the Costco Anywhere Visa^® Card by Citi only lets cardholders redeem rewards for merchandise or cash back at Costco warehouses located in the U.S., including Puerto Rico.

  Additionally, rewards are only distributed one time per year (after your February billing cycle) and must be redeemed by December 31 of the year in which they are issued.

• Costco membership required

  You must have a Costco membership to apply for this card. An annual membership costs $60 for a Gold Star membership and $120 for an Executive membership.

Compare it to the Blue Cash Preferred^® Card from American Express

 

If you want to earn a high cash back rate in popular spending categories, but want more flexibility in how you can redeem those rewards, the Blue Cash Preferred^® Card from American Express is a much better fit.

The Blue Cash Preferred^® Card from American Express offers Earn 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 6% Cash Back on select U.S. streaming subscriptions, 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more), 1% Cash Back on other purchases. Terms apply. Additionally, cardholders can earn a $250 statement credit after you spend $3,000 in eligible purchases on your new card within the first 6 months. Cash back is earned in the form of Blue Cash Rewards Dollars.

Unlike the Costco Anywhere Visa^® Card by Citi, which only lets you redeem cash back at Costco one time per year, the Blue Cash Preferred^® Card from American Express lets you redeem your reward dollars for statement credits whenever your available reward balance is $25 or more.

The card does have a $0 intro annual fee for the first year, then $95. annual fee. However, if you max out the $6,000 spend cap on groceries — which will get you $360 — you’ll earn more than enough cash back to cover the annual fee each year.

Additionally, the Blue Cash Preferred^® Card from American Express charges foreign transaction fees of 2.7% of each transaction after conversion to US dollars.

To see rates & fees for the Blue Cash Preferred^® Card from American Express please click here.

The information related to the Costco Anywhere Visa^® Card by Citi and the Sam's Club Mastercard has been independently collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication.

If you regularly purchase gas, groceries and other household items from Costco, you may want to consider the Costco Anywhere Visa^® Card by Citi, since the card offers a generous cash back rate that can be used to help offset the cost of those purchases.

But if you want to earn an elevated cash back rate in additional categories, like select streaming services, transit, and grocery store purchases — and you don’t want to be limited to redeeming those rewards at Costco — the Blue Cash Preferred^® Card from American Express may be a better fit.

Just keep in mind, the Blue Cash Preferred^® Card from American Express charges foreign transaction fees as well as an annual fee after the first year of card membership.