We talk a lot about Costco around here – and for good reason!
The wholesale club is one of Clark’s very favorite places to shop. And, if used properly, a membership really can save consumers money on a variety of expenses in their lives.
Today, I’m hoping to get a discussion going on the credit card side of Costco.
The Costco Anywhere Visa® Card by Citi is a no-annual-fee card that rewards your spending at Costco and in some key spending categories like gas, dining and travel.
But it does have some headaches. The rewards redemption process could be easier, for example.
We like it as a supplemental card in the wallet of wholesale club shoppers. But we’re wondering what YOU think of it.
Some things I’m wondering if you have the card in your wallet:
Is the card worth it? Are you glad you signed up?
Which rewards category do you benefit from the most?
How has rewards redemption gone for you? Is it a nuisance compared to claiming the rewards for your other credit cards?
Do you feel obligated to keep paying for a Costco membership after you’ve signed up for this card?
If you’re a Costco member who doesn’t have the card, I’m wondering:
What is keeping you from signing up for the credit card?
Which credit card do you use for your Costco shopping instead?
What perk could Citi and Costco add to this card to make you sign up?
And for all of you: What stands out most to you (good/bad/indifferent) about this card?
I have a review of this credit card on Clark.com that I keep updated regularly. Since I don’t personally have this card, I’m hoping that some of the feedback we see in this thread can help make sure I’m giving as accurate of information on that card as possible.
However, you are correct, the rewards redemption is a pain since it is only yearly. Most cards let you receive a credit monthly.
However, it is a great deal if you are careful to use it only for Costco purchases, gas, restaurants and travel where you get 2% - 4% back. Everything else is only 1% back which is not such a great deal. I have a 2% card for everything else.
I have the card because I like Costco. I wouldn’t keep paying for Costco just to have the card.
I just use my Fidelity 2% cash back credit card and am satisfied with how it all works out. You can get 3% back with the same card but it’s too expensive for me to do it that way.
I’m happy with the card and have no problem with the annual cash back. My store’s customer service desk is light speed fast and there is rarely a line. It takes about a minute to exchange the check for cash. A couple of years I’ve been eligible for it to be direct deposited but cashing it just as easy.
The 3% on travel and dining has snagged me a couple of times. It’s disappointing to think you are getting 3% dining out and then only get 1% because of the way the establishment is coded. Not Citi’s fault but if I could have figured it out in advance I would have at least used a 2% card… Also, had to buy some hotel points recently and’s was disappointed to find those don’t count as travel. Again, a card that pays 2% on everything would have been the better choice.
Like ratbert2k said, it was really simple. The odd part of the transition was that AMEX wanted a new application to keep using their card. After 25+ years with AMEX, (long before Costco existed,) I passed on their stupid requirement and dropped my AMEX card.
Before they came up with the AMEX-Costco card I had an AMEX Gold card. I don’t remember the exact sequence of events, I might have just stopped using the Gold card because the AMEX Gold card perks weren’t as good as the AMEX-Costco card.
At any rate, I thought it was odd not to offer a previous AMEX cardholder something besides a “start-from-scratch” opportunity to keep their AMEX card.
I have the Costco credit car, though ironically I do not use it at Costco. The Venmo Visa gives 3% for the top category that you use the card in and they categorize warehouse clubs like Costco and Sam’s Club as supermarkets. I therefore use the Venmo Visa at Costco. I also use the PenFed Cash Rewards Visa for fuel purchases and get 5%, as opposed to 4% which the Costco Visa gives.
I do use the Costco Visa mainly for restaurant purchases, where the 3% tops the 2% I can receive on other cards. I also use it a convenience stores like 7-Eleven and other stores which sell fuel. The Costco Visa categorizes those as a fuel store purchase and gives 4%. Also, if I am going to be traveling, the 3% reward usually tops what I can get from other cards, unless there is a special promption.
Redeeming the reward is the biggest hassle, as has been discussed here.
