Can you use a Visa or Mastercard at Costco?
The Costco Anywhere Visa card is only offered to current Costco members. If you cancel your Costco membership, your Costco Anywhere Visa® card will also be canceled. Although it is a store card, Costco members can use the Costco Anywhere Visa® card wherever Visa cards are accepted and earn rewards for everyday purchases such as gasoline, travel, and meals.
If you are not a current Costco member, should you pay for membership to access the Costco Anywhere Visa card? And if you’re a Costco member, do the perks and perks offered to outweigh other reward cards? Before applying for this store card, here are some important things to know about the Costco Visa card.
You must be a Costco member to apply
Before you can apply for the Costco Anywhere Visa® card, you must be a current member of the Costco warehouse. When applying for your store card, the first piece of information you need to enter is your Costco membership number.
The annual cost is $ 60 for a Gold Star membership or $ 120 for a Gold Star Executive membership, plus sales tax where applicable. Gold Star members get multiple discounts and benefits on Costco services and an annual premium of 2% up to $ 1,000 on eligible purchases at Costco and Costco Travel. These benefits are in addition to the cashback rewards earned by making purchases using the Costco Anywhere Visa® card.
With no annual fee other than the cost of Costco membership, the Costco Anywhere Visa® Card could be a great option. But if you are already a member of the BJ’s or Sam’s Club warehouse, you need to decide if the additional cost of membership is worth it.
Earn rewards on multiple Costco purchases
Unlike other store cards, the rewards program is not limited to Costco purchases. The Costco Anywhere Visa® Card by Citi rewards program offers a tiered redemption incentive based on the type of purchase you make:
Costco purchases are a lower tier premium
Even though the Costco Anywhere Visa® card is exclusive to Costco members, you won’t earn most of your money back on Costco purchases. While gas, meals, and travel earn 3% to 4% cashback, purchases from Costco and Costco.com are only eligible for 2% cash back rewards.
While this may be disappointing, most cash-back credit cards limit the eligibility of the premium on stock purchases. If you’re a regular Costco shopper, the 2% unlimited cash back can add up, making the Costco Anywhere Visa® Card a worthwhile card to have in your wallet.
Award certificates are issued once a year
If you’ve used other cashback credit cards before, you may be used to redeem your rewards for purchases or cashback as soon as they appear on your statement. But with the Costco Anywhere Visa® card, you only receive your cashback rewards once a year in February for the previous year. You can also redeem it for merchandise only or cash in person at a Costco warehouse.
Learn more about how to redeem Costco credit card rewards.
There are more perks than just cashback rewards
The Costco Anywhere Visa® Card has a solid cash back rewards program, but these aren’t the only benefits you get with this store card. Cardholders also have access to travel and shopping benefits when the card is used to make purchases.
Travel Benefits of the Costco Anywhere Visa Card
When you pay for your rental car with the Costco Anywhere Visa® card, you can save money by forgoing the car rental company’s collision damage insurance because the card offers up to $ 50,000 to repair or replace the car if it is damaged in an accident, stolen, vandalized or damaged by a natural disaster.
You, your family members, and travel companions are also covered for travel coverage and emergency assistance. This includes help arranging emergency travel, obtaining referrals, coordinating care, and obtaining injury counseling outside the US emergency, and professional service costs are not covered. The card also provides worldwide travel accident insurance, which covers each qualified person up to $ 250,000 while traveling.
You can also use roadside assistance in any car wherever you need it in the United States, Puerto Rico, and the US Virgin Islands. You only pay for the service if you use coverage.
Another travel advantage is the absence of foreign transaction fees, no matter where you are in the world. Other cards may charge up to 3% for foreign transaction fees, which can come as a surprise to cardholders once they review their statement after an overseas vacation.
Benefits of Buying the Costco Anywhere Visa Card
Suppose you are using your Costco Anywhere Visa® card or Costco Reward Certificate to make an eligible purchase. In that case, damage and theft protection covers you for 120 days (90 days for New York residents) up to $ 1,000 per item or the amount charged to your card or certificate, whichever is less. You can get up to $ 50,000 in coverage per year and are required to file a police report if the item is stolen.
Those same purchases are also covered by the Costco Anywhere Visa® Card Extended Warranty. After the manufacturer’s warranty and customer purchased warranty expire, Citi provides 24 months of extended warranty coverage, up to $ 10,000 per item.
Is there an alternative to the Costco Anywhere Visa card?
The Costco Anywhere Visa Business Card is pretty much the same as the Costco Anywhere Visa Card, but it doesn’t allow transfers. Depending on your needs for a business credit card, there may be other options that better fit your criteria
Which bank issues the Costco card?
The Costco Anywhere Visa card is issued by Citibank. The card does not have an annual membership fee, but you must be a current and active Costco member to apply for and hold the Costco Anywhere Visa card.
What types of payments does Costco accept?
The types of payments that Costco accepts such as cash, checks, EBT, and Costco Shop Card. Visa credit and debit cards are also accepted, in addition to just Mastercard debit cards. Mastercard and American Express credit cards are not accepted at Costco, Costco.com, Costco gas stations, or Costco car washes.
How many guests can I bring to Costco?
Costco’s policy allows members to bring children and up to two guests each time they visit a warehouse. However, Costco members are the only ones who can make purchases. So, if you bring a guest to purchase merchandise from Costco, you must pay for it and be refunded by the guest. This could be an advantage if you want to increase your rewards using the Costco Anywhere Visa card.