Do you have the Costco credit card and is it worth it?

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.

Still, this card is in Clark’s wallet and it makes our list for best rewards credit cards.

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.

Thanks!

Nick

This is not true. There is no foreign transaction fee. I just used it in Belize.

https://www.costco.com/my-life-benefits-costco-anywhere-visa.html

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.

You’re absolutely right re: foreign transaction fee. I had Citi’s Double Cash on my brain. I’ve edited that out of the post. Thanks!

I’ve had it for years, but I’m canceling it before my next Costco renewal hits it next month and earns me a stupid $2 reward check. Taking a paper check or scanning my phone at Costco is just too ridiculous for me to put up with any longer. I can get better or nearly as good rewards with other cards (primarily Alliant CU’s Visa with 2.5% on everything including Costco, and Penfed’s Visa with 5% on gas paid at the pump), and they’re a lot easier and faster.

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.

  • Is the card worth it? Are you glad you signed up?

Since it costs nothing to keep, it is by definition worth it.

  • Which rewards category do you benefit from the most?

I have a 3% back Visa card from Fidelity, so I pretty much only use this one for gas and as my Costco membership card.

  • How has rewards redemption gone for you? Is it a nuisance compared to claiming the rewards for your other credit cards?

Yes, a bit more of a nuisance, but not enough to be worth dumping it.

  • Do you feel obligated to keep paying for a Costco membership after you’ve signed up for this card?

No, I’d still stay in Costco regardless.

Worth it… we go back to the days when is was an AMEX card.

It pays for the Costco membership fee plus $166 back this year with another $108 YTD for 2025 cash back.

The gas cash-back still matters, my lawn mower and one car still use gas. :slightly_smiling_face:

H200h, can you possibly describe your transition from a Costco AMEX card to a Costco Visa card?

It was pretty simple. A letter came in the mail saying that the Amex would be replaced with a Visa. A little while later, Citibank sent a new Visa card. After a call to activate the Visa card, the Amex stopped working. Payments were then sent to Citibank instead of Amex.

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.

You wouldn’t have kept using their card. It would have been a different card. They sold your credit account to Citibank, just like banks sell your mortgage. I also didn’t bother applying for whatever other card they were offering at the time, but I would have if it had been attractive. I don’t have an objection to filling out a piece of paper with information that is well known to me and them.

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’m sure it was due to their contract with Costco.

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.

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