Yes, the Costco Visa card can be worth it for frequent Costco shoppers and those who can maximize its rewards.
The card offers significant cash back on everyday purchases, especially at Costco.
If you frequently shop at Costco, the 4% cash back on eligible gas purchases, 3% on restaurant and travel, and 2% on Costco purchases can add up quickly.
However, if you rarely visit Costco or don’t spend much in the categories the card rewards, it might not be the best fit.
One of the card’s advantages is that it has no annual fee when you maintain a Costco membership.
This makes it easier to justify having the card, especially when you consider the potential savings from cash back.
The card also provides purchase protection and extended warranty benefits, which can be valuable for higher-priced items.
Be mindful of the fact that the card is issued by Citibank, which means customer service may vary.
Lastly, keep in mind that the card requires good to excellent credit for approval.
If you fall into that category and can take advantage of its benefits, it could be a great addition to your wallet.
What are the benefits of the Costco Visa card?
The Costco Visa card offers 4% cash back on eligible gas purchases, 3% on restaurants and travel, 2% on Costco purchases, and 1% on all other purchases. It also has no annual fee with a Costco membership.
Is there an annual fee for the Costco Visa card?
No, there is no annual fee for the Costco Visa card as long as you maintain a Costco membership.
Can I use the Costco Visa card anywhere?
Yes, the Costco Visa card can be used anywhere Visa is accepted, but it shines the most when used at Costco and in the bonus categories.
What happens if I don’t have a Costco membership?
If you don’t have a Costco membership, you won’t be able to apply for the Costco Visa card, and you won’t enjoy its benefits.
How do I redeem cash back from the Costco Visa card?
Cash back is automatically credited to your Costco membership account once a year, which you can then use as a store credit or receive as a check.