Yes, the Costco credit card can be worth it for frequent Costco shoppers due to its rewards structure and benefits.
The Costco Anywhere Visa® Card by Citi offers 4% cash back on eligible gas purchases, 3% on restaurant and eligible travel purchases, 2% on Costco and Costco.com purchases, and 1% on all other purchases.
For Costco members, this can translate to significant savings over time, especially if you regularly shop at Costco or fill up at gas stations.
However, it’s important to consider the annual fee for a Costco membership, which is typically required to obtain the card.
If you’re a casual shopper, the rewards may not outweigh the membership cost.
The card also comes with additional benefits like no foreign transaction fees and purchase protection, which can be appealing for travelers.
Paying your balance in full each month is crucial to avoid high interest charges, which can negate the benefits of the rewards.
In summary, if you are a dedicated Costco shopper and can maximize the card’s rewards, it can definitely be worth it.
What are the main benefits of the Costco credit card?
The main benefits of the Costco credit card include high cash back rewards on gas, dining, travel, and Costco purchases, along with no foreign transaction fees and purchase protection.
Is there an annual fee for the Costco credit card?
There is no additional annual fee for the Costco credit card itself, but you need to have a Costco membership, which has its own annual fee.
Can I use the Costco credit card anywhere?
Yes, you can use the Costco credit card anywhere that Visa is accepted, but the highest cash back rewards apply to specific categories.
Is there a limit on cash back rewards with the Costco credit card?
Yes, there are limits on cash back rewards for certain categories, like gas purchases, which are capped at $7,000 annually; after that, you earn 1% cash back.
How do I redeem cash back from the Costco credit card?
Cash back is automatically redeemed once a year as a reward certificate, which can be used for purchases at Costco or for cash back at the register.