Yes, a Costco credit card can be worth it if you frequently shop at Costco and can take advantage of its rewards and benefits.
The Costco credit card, officially known as the Costco Anywhere Visa Card by Citi, offers several perks that can save you money.
You earn 4% cash back on eligible gas purchases, including at Costco, which is a big win for those who fill up regularly.
Additionally, you get 3% cash back on restaurants and eligible travel purchases, plus 2% cash back on purchases at Costco and Costco.com.
These rewards can add up quickly if you use the card for your everyday expenses.
There’s also no annual fee if you maintain your Costco membership, making it even more appealing.
However, it’s important to consider if you’ll pay off your balance each month to avoid high-interest charges.
The card does have a foreign transaction fee, which can be a drawback for international travelers.
If you don’t shop at Costco often or won’t maximize the rewards, it might not be the best choice for you.
Also, keep in mind that you must have a Costco membership to apply for the card.
So, if you’re a regular at Costco and can leverage the card’s benefits, it can definitely be worth it.
What are the main benefits of the Costco credit card?
The main benefits include 4% cash back on gas, 3% on restaurants and travel, and 2% on Costco purchases. Plus, there’s no annual fee if you have a Costco membership.
Is there an annual fee for the Costco credit card?
There’s no annual fee for the card as long as you maintain your Costco membership.
Can I use the Costco credit card anywhere?
Yes, you can use the Costco credit card anywhere Visa is accepted, but the best rewards are earned at Costco and certain categories like gas and restaurants.
What happens if I don’t pay my balance in full?
If you don’t pay your balance in full, you’ll incur interest charges, which can be quite high. It’s best to pay off your balance each month to avoid this.
Are there any foreign transaction fees with the Costco credit card?
Yes, the Costco credit card does have foreign transaction fees, so it’s not ideal for international purchases.