How my Costco Anywhere Visa Card by Citi is a workhorse when it comes to cash back
In the world of credit card rewards, cash back remains a strong contender, particularly for those who want to maximize their earnings in everyday spending categories. The Costco Anywhere Visa® Card by Citi stands out as an excellent option for frequent Costco shoppers and those looking to earn rewards on gas purchases. With a generous 5% cash back on gas bought at Costco and 4% on other eligible gas and electric vehicle (EV) charging (up to $7,000 annually), this card is a boon for families who find themselves driving frequently. Additionally, it offers unlimited 3% cash back on restaurants and eligible travel categories, making it a versatile choice for dining out and travel expenses. For Costco members, the card also provides 2% cash back on all purchases from Costco and Costco.com, ensuring that even non-bonus category spending earns rewards.
One of the most appealing aspects of the Costco Anywhere Visa is its ability to effectively pay for the Costco membership itself. The author shares a personal experience of accumulating enough cash back within the first two months of using the card to cover the $130 annual fee for the Costco Executive Membership. This unique feature, combined with the card’s lack of an annual fee (aside from the membership requirement), makes it an attractive option for those who shop at Costco regularly. However, it’s important to note that cash back can only be redeemed once a year, which may not suit everyone’s spending habits, especially for those who prefer more frequent access to their rewards.
Beyond its cash-back capabilities, the Costco Anywhere Visa also functions as a decent travel card, offering no foreign transaction fees and 3% cash back on rental cars and hotel stays. For Costco Executive Members, the card enhances travel rewards further by allowing them to combine the 3% cash back with the 2% earned through their membership, totaling a significant 5% on travel-related expenses. Overall, the Costco Anywhere Visa is a multifunctional card that not only maximizes cash-back rewards across various categories but also simplifies the shopping experience at Costco, making it a staple for many consumers looking to get the most out of their spending.
Points and miles are currently my preferred credit card reward currencies, but there was a time when
cash back
was my top choice.
Of the eight cards in my wallet, three are cash back products; I continue to hold all three because two of them — the
Blue Cash Preferred® Card from American Express
and the
Discover it® Cash Back Credit Card
— account for a significant portion of my credit history.
I added the third one, the
Costco Anywhere Visa® Card by Citi
(see
rates and fees
), to my wallet in 2023, and it’s been putting in work ever since.
The information for the Discover it has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
The Costco Anywhere Visa shines in two areas where my household spends a lot of money: Costco and
gas
purchases. It also features solid cash-back rates in popular bonus categories, making it a great option for Costco members who want to maximize their cash back earnings.
Let’s discuss why the
Costco Anywhere Visa
might be a great fit for you.
Earns cash back in key categories
Most of my family lives within a three-hour drive from me, so fueling up to drive back and forth to visit them can add up. Fortunately, the generous 5% cash back on gas at Costco and 4% cash back on other eligible gas and electric vehicle (EV) charging for up to $7,000 in combined spending each year (then 1%), giving me a chance to earn rewards on every trip I make.
Additionally, my household includes a daily commuter who fills up twice a week and is an authorized user on my
Costco Anywhere Visa
, earning me even more rewards in this category.
PRAMOTE POLYAMOTE/GETTY IMAGES
Then there’s the unlimited 3% cash back on restaurants and eligible travel categories, including airfare and cruises booked through
Costco Travel
. Even though my
American Express® Gold Card
is my go-to for restaurant and grocery purchases, it’s useful to have a backup option that earns a healthy rewards rate on my dining purchases at places where Amex cards aren’t accepted.
I also earn 2% cash back on all purchases from Costco and Costco.com, which I constantly browse for flash sales and other deals. Plus, the added benefit of earning 1% cash back on all other purchases is the cherry on top — even when I’m not earning higher rates of cash back in my main categories, I still earn rewards every time I tap my card.
The major caveat with redeeming your cash-back rewards with the Costco Anywhere Visa is that you can only do so once a year, which differs from most cards that make your rewards redeemable at the end of each billing cycle. If you’re a fan of redeeming your rewards on a more frequent rolling basis, this card may not be the best for you.
Pays for my Costco membership
I love Costco, but because the closest one to me is 30 minutes away, I typically shop at the warehouse every five to six weeks. This means my Costco trips are hauls where I get
groceries
like produce and meat in bulk (much of which gets frozen and stored for future meal prep use) and sometimes bigger items like kitchen appliances, cookware and even indoor-outdoor furniture.
STEVE PROEHL/GETTY IMAGES
Within the first two months of opening my
Costco Anywhere Visa
, the cash back I accumulated, in addition to the digital shop cards I earned, more than paid off my $130 annual Costco Executive Membership fee. (Although the Costco Anywhere Visa doesn’t charge an
annual fee
, you must be a Costco member to obtain the store card.)
Essentially, this credit card pays for your Costco membership while boosting your cash-back earning power across multiple categories, some of which you can even combine (but more on that in just a bit).
Doubles as a decent travel card
While most people don’t consider the
Costco Anywhere Visa
a travel card in the traditional sense, it offers cardholders great perks, including
no foreign transaction fees
wherever Visa is accepted and 3% cash back on rental cars, hotel stays and other eligible travel categories.
OLELOLE/GETTY IMAGES
But one of my favorite perks — which I think is one of the best perks and often tell people about — is that cardholders get to combine the 3% cash back on eligible travel with the 2% cash back that everyone with Costco’s Executive Membership gets for a total of 5% cash back on travel rewards.
Bottom line
The
Costco Anywhere Visa
makes it easy to maximize cash-back rewards. I’m a huge fan of its multifunctionality and killer cash-back offers in my most frequently used categories.
In addition to doubling as a great travel card, the Costco Anywhere Visa also acts as your Costco membership card, so it’s not a big deal if you forget your physical membership card at home. It’s also nice to know that you’ll earn at least 1% cash back each time you use your card.
Because it’s such a workhorse for earning me cash-back rewards, this card is a staple in my wallet.
To learn more, read our
full review of the Costco Anywhere Visa Card
.
Apply here:
Costco Anywhere Visa
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
