The Costco Anywhere Visa gives you cash back on purchases and warehouse perks, but only if you're a Costco member
The Costco Anywhere Visa Card by Citi is a rewards card that returns a percentage of what you spend back to you as cash. You earn 2% cash back on Costco purchases and gas, 1% on everything else. The card is free — there's no annual fee — but you must hold a Costco membership to use it. The card itself is a Visa, so you can use it anywhere Visa is accepted, not just at Costco.
The cash back arrives as an annual reward certificate that Costco mails to you or credits to your account. You can spend it at Costco or use it online. Unlike some rewards cards that let you redeem points anytime, this one pays out once a year, usually in January.
Key Takeaways
- You earn 2% cash back on Costco and gas purchases, and 1% on all other purchases, with no annual fee.
- The cash back comes as a Costco reward certificate once per year, not as points you can redeem anytime.
- You must be a Costco member to open the card, and your membership must stay active to use the card.
- The card is a Visa, so you can use it at any store that takes Visa, even though the best rewards are at Costco.
- There is no sign-up bonus — you start earning cash back on your first purchase.
How the cash back works and when you get it
Every dollar you spend on the Costco Anywhere Visa earns cash back at one of two rates. At Costco warehouses and Costco.com, you earn 2%. At gas stations (including Costco gas), you also earn 2%. On everything else — restaurants, groceries outside Costco, online shopping — you earn 1%.
The card tracks your spending for a full year, then Costco calculates your total cash back and sends it to you as a reward certificate. This usually happens in January. You can pick it up at the warehouse, have it mailed to you, or log into your Costco account online to see the balance. You then spend the certificate like cash at Costco or on Costco.com — it doesn't expire as long as your membership is active.
Because the payout happens once a year, you won't see cash back trickling in monthly or quarterly. If you spend $5,000 at Costco in a year, you'd earn $100 in cash back, but you'd receive all $100 in one certificate in January, not in smaller chunks throughout the year.
Who should get this card and who shouldn't
The Costco Anywhere Visa makes the most sense if you already shop at Costco regularly and fill up at Costco gas. The 2% cash back on those purchases adds up quickly if you're a heavy Costco user. A family that spends $200 a month at Costco and $100 a month on gas would earn $72 in cash back per year just from those two categories.
The card is less useful if you rarely visit Costco or if you don't have a membership. You cannot open the card without an active membership, and if your membership lapses, you can't use the card. The 1% cash back on non-Costco purchases is competitive with some other cards, but it's not exceptional — many no-fee cards offer 1.5% or 2% on all purchases.
You should also consider whether you want to wait until January for your cash back. If you prefer to redeem rewards as you go, or if you want rewards that work outside Costco, a different card might fit your spending style better.
The membership requirement and what happens if it expires
You must have an active Costco membership to open the Costco Anywhere Visa. When you explore, Citi checks that you're a current member. If your membership expires, you can still use the card to make purchases, but you won't earn cash back on Costco or Costco.com transactions — you'll only earn 1% on non-Costco spending.
If you renew your membership later, your cash back earnings at Costco resume. Your reward certificate is tied to your membership account, so as long as your membership is active at the time you receive the certificate in January, you can use it. This means if your membership lapses in November but you renew it in December, you'd still get your annual certificate.
Comparing this card to other Costco payment options
Costco members can pay with a regular Visa, Mastercard, or American Express at the warehouse, but only the Costco Anywhere Visa gives you cash back. If you use a different card, you earn nothing extra on your Costco purchases. A regular rewards Visa from another bank might offer 2% cash back on all purchases, which could be better if you spend more outside Costco than inside it.
Costco also offers an Executive Membership tier that gives you 2% cash back on Costco purchases without a credit card — it's built into the membership itself. If you're already an Executive Member, you earn that 2% whether you use the Costco Visa or not. The Costco Visa then adds its own rewards on top, so you'd earn cash back twice: once from your membership and once from the card.
The trade-off is that Executive Membership costs more per year than a regular membership. Whether it's worth it depends on how much you spend at Costco annually.
Fees, interest rates, and what to watch for
There is no annual fee, no foreign transaction fee, and no fee for balance transfers. If you carry a balance month to month, the interest rate (called the APR) varies based on your credit score and current market rates — Citi doesn't publish a fixed rate. You can find the current range on Citi's website or in the card's terms before you explore.
The card has no rewards cap, so you can earn as much cash back as you want. There's also no limit on how much you can spend in a year. The only real limit is that your reward certificate expires if your Costco membership expires, so you need to keep your membership active to use the cash back you've earned.
One thing to note: the cash back is only available at Costco or on Costco.com. You can't transfer it to a bank account or use it outside Costco. This is different from some other rewards cards that let you redeem points for cash or statement credits anywhere.
How to open the card and what to expect
You explore for the Costco Anywhere Visa directly through Citi's website or at a Costco warehouse. You'll need your Costco membership number, a Social Security number, and basic income information. Citi will run a credit check, which temporarily lowers your credit score by a few points.
If you're approved, the card usually arrives within 7 to 10 business days. You can start using it when ready once it arrives. Your first reward certificate will come in January of the following year, covering all the purchases you made from the date you opened the card through December 31.
If you're denied, Citi will tell you why — usually because of a low credit score or too many recent credit applications. You can reapply after a few months if you've improved your credit situation.
Frequently Asked Questions
Can I use the Costco Visa outside of Costco?
Yes. It's a regular Visa, so you can use it at any store, restaurant, or online retailer that takes Visa. You'll earn 1% cash back on those purchases instead of 2%. The best rewards come from using it at Costco and gas stations.
What if I don't spend much at Costco — is this card still worth it?
Probably not. If you shop at Costco only a few times a year, the cash back won't add up to much. A different rewards card with 1.5% or 2% cash back on all purchases might serve you better, since you wouldn't be limited to Costco for the higher rate.
Do I lose my cash back if my membership expires?
You lose the 2% cash back rate at Costco if your membership lapses, but you keep earning 1% on all other purchases. If you renew your membership before your annual certificate arrives in January, you'll still receive the full certificate. Once you have the certificate, you can use it as long as your membership is active.
Is there a sign-up bonus?
No. The Costco Anywhere Visa has no sign-up bonus. You start earning cash back on your first purchase at the standard rates: 2% at Costco and gas, 1% everywhere else.
Can I redeem my cash back before January?
No. The reward certificate is issued once per year, usually in January. You can't redeem cash back monthly or on demand. If you need rewards you can use anytime, this card may not fit your needs.