- 1 www.citi.com/applycostco – Apply For Costco Anywhere Visa
- 2 Citi Costco Credit Card: Is It As Good As Its Predecessor?
- 3 Citi Costco Anywhere Visa Credit Card Review: 2% Cash Back at Costco, 3% at Restaurant & Travel Purchases, 4% at Gas Stations
www.citi.com/applycostco – Apply For Costco Anywhere Visa
Parascopeman July 23, 2016
- Costco members can register for the new credit card online
- Only members of Costco are eligible to receive the Anywhere Visa
Most consumers who have not been living under a rock for the past few months have caught wind of the Costco transition to Visa. What many may not have heard of is how easy it is to sign up for the new Costco Anywhere Visa Card. Costco members that wish to take advantage of the generous cash back credit card can register online in just a few easy steps by going to the Citi Apply Costco page. To get started customers will need to select between applying for a personal card or business card and then enter their Costco member number. Those who are not already members of Costco can apply for store membership by following the link provided at the Citi Apply Costco page.
Benefits of Owning the Costco Anywhere Visa
- Cardholders will receive 4% cash back on eligible gas purchases all over the globe (the 4% rate changes to 1% after the first $7,000 in gas purchases per year)
- On-the-go cardholders should be very pleased with the 3% cash back that can be earned on eligible restaurant and travel purchases worldwide
- 2% cash back will be earned on purchases at Costco (including Costco online) and 1% cash back will be earned on all other purchases
- Members will be charged no annual fee for the card with their paid Costco membership and will earn cash rewards anywhere Visa is accepted
Customers who decide to sign up for the Costco Anywhere Visa card through the Citi Apply Costco page will receive a nice little introductory offer of 0% APR on all purchases for the first 7 months (APR will revert to a variable 15.49% after the 7 months are up). Cash back that is earned with the card will be provided as an annual reward coupon on February billing statements that can be redeemed for cash or merchandise at United States Costco Warehouses.
Citi Costco Credit Card: Is It As Good As Its Predecessor?
The new Costco Anywhere credit card from Citi is easily one of the best reward credit cards. It is an improvement over the old and popular Amex Costco card. Consumers who are being upgrade to the new card do not have to fear they are going to lose out on any value as a result of the shift. Across all categories, the new Costco credit card outperforms its predecessor. Those who currently still have the Old Amex cards will be getting their replacement Citi card sometime in June 2016. The card will be available to new applicants shortly after that date.
- Existing Costco members who spend a lot on dining out, travel, and gas
- Those who want a big credit card bonus. This card has none.
- Those who spend a lot at Costco - when using the card there you can earn an unlimited 2% cash back
- Anyone who wants instant access to the rewards they accumulated. You can only redeem once per year
Review: Is the Citi Costco Credit Card Worth Getting?
By all measures, the new Citi Costco credit card is an improvement over the old American Express version -– a card that was already quite good. The Costco Anywhere Visa provides 4% cash back on gas (on up to $7,000 in purchases per year), 3% back at restaurants and on travel, 2% back on Costco purchases, and finally 1% cash back on everything else. In the categories where it earns more than 1%, the Costco credit card produces far better returns than most credit cards. The 4% savings on gas is enough to make it one of the best credit cards for gas purchases. The travel savings is also enough to outperform some of the top travel credit cards –- though by not awarding you miles like some of those cards, you have less opportunities to maximize your rewards rate.
We've compared below the estimated annual savings that a family with the average household budget might see when charging everything to the new Citi Costco card versus a top cash back credit card like the Citi® Double Cash Card - 18 month BT offer.
*For the Citi Costco Credit Card we assumed all groceries were purchased at Costco.
One factor that may dissuade some from the Costco Anywhere credit card is that redeeming rewards is restricted to once per year. All of your cash back savings is mailed to you in the form of a coupon every February. If you are someone who likes to take advantage of the rewards you have saved up when the right moment arises, having to wait a few months can be frustrating. Most of the time, you will be locked out of your rewards. Worse yet, if your account gets cancelled, all the rewards will be gone. You won’t have a chance to cash them out.
The other thing to note about the Citi Costco credit card is the fact that it has no signup bonus, just like the old Amex card. While in the long run this doesn’t matter, welcome bonuses attract many consumers to reward credit cards. They have the opportunity to boost short-term value tremendously. For example, the Chase Freedom® earns users $150 if they spend $500 on purchases in the first three months of account opening. That means the first $500 you spend on the card will essentially earn you a rewards rate between 31% and 35%.
Bottom Line: Despite not having a welcome bonus and having a very limited redemption window, we believe the new Citi Costco credit card is still highly valuable -– especially on purchases of gas, travel, and dining out.
The main benefit of the Citi Costco credit card is the cash back it provides on gas, travel, restaurant, and Costco purchases. Cardmembers earn 4% on eligible gas purchases, up to the first $7,000 per year; after that, you’ll get just 1%. The one other limitation on this benefit is that you cannot earn the full 4% when purchasing gas at other superstores, supermarkets or convenience stores. In those cases, you earn just 1% back. Using the Costco Anywhere credit card at most restaurants for airfare, hotels, and car rentals will give you an unlimited 3% back. Using the card at Costco or to pay its affiliated store or website will earn 2% cash back. All purchases outside of the aforementioned categories will get you a return of 1%.
Citi Costco Anywhere Visa Credit Card Review: 2% Cash Back at Costco, 3% at Restaurant & Travel Purchases, 4% at Gas Stations
Good news if you are Costco Card Member! New applicants can sign up for a Citi Costco Anywhere Visa Card, and you can receive a 2% cash back on all purchases made with Costco. Earn 4% cash back on all Costco gas stations worldwide, for the first $7,000 per year and then 1% thereafter. Earn 3% cash back on restaurant and eligible travel purchases worldwide and 1% cash back on all other purchases.
If you enjoy simplicity and flexibility at your fingertips, this card is a pretty nice, well-rounded cash back rewards credit card that may very well be suitable for your credit card needs! To get the full extent or the most for your bucks, I recommend this card for individuals or families that shop at Costco often, since this card does come in the form of a Costco membership as well.
Editor’s Note: If you’re a new Citi and you aren’t quite familiar with this Costco card, I recommend also our “Costco Partners With Citi” Review.
American Express Costco cardholders should already have any cash rewards and/or debt balance will be transferred over to the new card and your Costco American Express will then be closed automatically after the Citi Costco card is activated. Citi has finally settled in to stay with their partnership with Costco. Now, there’s been some feed-backs concerning this action, both positive and negative (for loyal American Express cardholders), but it’s quite evident that Citi is here to stay for a while regarding Costco’s partnership.
There’s been some questioning involved as to whether it’d be possible to product change from a different Citi Card to the new Citi Costco Anywhere Visa Card and to put it quite frank, it’s not possible yet, presumably due to what we mentioned above as Citi’s “almost settled” phase. It might be a bit too early to do a product change to the Costco card at the moment since it is a new card; we’ve seen this happen to countless cards in Citi’s portfolio already or perhaps it’s just a matter of policy.
It’s also evident that there’s people wanting to do a product change on the premise that it’s an easy way out to getting a card with Citi without undergoing a hard pull or to simply take advantage of the 4% cash back category. Many of you are probably thinking it’s better to change over to a card from a different unused card that has an annual fee since you’re not trying to get stuck with anymore or so on so forth, so it’s quite understandable.
Now, it’d be quite disappointing if Citi considers this card as a store card in which a product change is not eligible. However, knowing Citi is quite lenient with this topic, there’s a chance in the future that this option will be available so long as the old card has already been opened for 12 months. Keep in mind that Chase Freedom’s 5% category is still eligible for Costco Purchases as well as other select WholeSale Clubs.
- 4% cash back on eligible gas worldwide, including gas at Costco, for the first $7,000 per year and then 1% thereafter. You will not get 4% cash back for gas purchased at superstores, supermarkets, convenience stores and warehouse clubs other than Costco.
- 3% cash back on restaurant and eligible travel purchases worldwide
- 2% cash back on all other purchases from Costco and Costco.com
- 1% cash back on all other purchases
- Worldwide Car Rental Insurance and Worldwide Travel Accident Insurance.
- Damage & Theft Purchase Protection is included, which may cover you for repairs or refunds for items you purchased with your Costco Anywhere Card that are damaged or stolen within 120 days of purchase (90 days for New York residents).
- No annual fee (with paid Costco membership).
- Will also serve as your Costco membership card.
Any points earned will be reported as a form of “Costco Rewards” meaning you’ll get a paper coupon mailed to you once every year in February based on your previous year’s spending, which in turn can be used either as payment for goods directly at the Costco cash register or converted to cash or checks at a Costco customer service desk. Coupon must be redeemed in person on or prior to its expiration date of December 31 in the year that this card is issued to you.
- Earn 4% cash back on eligible gas at Costco worldwide
- No Annual fee
- Serves as a Costco Membership card
- And so much more.
- Citi is not doing a credit inquiry; meaning this may affect your credit score a little bit.
Receive a 2% Cashback with every purchase made at Costco with your Citi Costco Anywhere VISA Card.This is a cashback credit card with a attractive annual fee of a guaranteed $0! Not only that but you can earn up to 4% cash back on gas alone!Spend anywhere and redeem your points for Costco products or even cash. If you’re looking for a credit card that will have you saving big bucks and you’re a frequent costco member that loves to drive, travel or eat out a lot, then this card has some wonderful features.
I really couldn’t find any flaws in this credit card except for that Citi doesn’t do a credit inquiry prior to transferring. It’s currently unknown as to iff Citi cardholders can do a product change of any sort to a New Citi Costco Anywhere VISA, but there’s a huge possibility that you could in the future off the assumption that Citi’s Product Change Policy has always been quite lenient. Don’t forget to check out our full list of Credit Card Bonuses if you’re not interested at the moment.
Chris provides our readers bank deals and credit card bonuses that will save them money. He is devoted to provided in-depth and accurate details to help readers maximize their money along their financial journey.
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