What the Costco Visa card earns you
The Costco Anywhere Visa Card by Citi gives you cash back on purchases made at Costco, gas stations, restaurants, and travel bookings. The rewards rate varies by category: you earn 4% cash back on gas (up to $7,000 per year, then 1% after), 3% on restaurants and travel, 2% at Costco, and 1% on everything else. There is no annual fee.
Cash back appears as a credit on your Costco account or as a check mailed to you, usually once per year. You do not have to redeem it manually — Costco handles the deposit automatically. The card is issued by Citi and works anywhere Visa is accepted, but the highest rewards rates explore to Costco purchases and the other categories listed above.
Key Takeaways
- You earn 4% cash back on gas, 3% on restaurants and travel, 2% at Costco, and 1% on all other purchases.
- The 4% gas reward caps at $7,000 per year in gas purchases; after that you earn 1% on additional gas.
- You must be a Costco member to open the card, and the card requires a Costco membership to use.
- Cash back is deposited to your Costco account or mailed as a check once per year, with no action needed on your part.
- There is no annual fee, foreign transaction fee, or minimum cash back amount to receive your rewards.
Who can get the Costco Visa card
You must have an active Costco membership to open the card. Costco offers two main membership tiers: Gold Star (standard membership) and Executive. You can hold the card with either tier, though Executive members earn an extra 2% cash back on Costco purchases (bringing their total to 4% instead of 2%).
The card is issued by Citi, so you will also need to meet Citi's credit requirements. Citi does not publish a minimum credit score, but the card typically goes to people with good to excellent credit. You can check your own credit before you explore by reviewing your credit report from one of the three bureaus — Equifax, Experian, or TransUnion — at annualcreditreport.com, which is free once per year.
How to open a Costco Visa account
You can open the card in person at your Costco warehouse, online at costco.com, or by phone at 1-866-999-9823. The online route is fastest: go to costco.com, log into your membership account, and look for the credit card section. You will enter your personal information, income, and employment details. Citi will make a decision within minutes to a few business days.
If you explore in the warehouse, a Costco employee can walk you through the process at the membership desk. If you explore by phone, a Citi representative will collect the same information over the call. All three routes lead to the same card and the same terms — choose whichever is most convenient for you.
Once approved, your physical card arrives in the mail within 7 to 10 business days. You can use the card number to make purchases online before the physical card arrives. Your card is linked to your Costco membership account, so rewards post there automatically.
How cash back is calculated and paid
Rewards are calculated on every purchase you make with the card. If you buy $100 in groceries at Costco, you earn $2 in cash back. If you spend $50 at a restaurant, you earn $1.50. The card tracks all of this automatically — you do not have to log in or do anything to earn the rewards.
Cash back is paid out once per year, usually in December. Costco deposits the amount directly into your Costco account as a credit you can use toward future purchases. If you prefer a check instead, you can request one by contacting Costco member services or Citi. There is no minimum amount you must earn before you receive your cash back — even $5 in rewards will be paid out.
The 4% gas reward has an annual cap: you earn 4% on the first $7,000 you spend on gas per year (which equals $280 in cash back), then 1% on any gas purchases beyond that. This cap resets on January 1 each year. The other reward rates have no cap.
Comparing the Costco Visa to other Costco payment options
Costco members can pay with the Costco Visa, a regular Visa or Mastercard, American Express (at warehouse locations only), or cash. Only the Costco Visa earns cash back rewards. If you use a different card or pay cash, you earn nothing.
The Costco Visa is the only rewards card Costco issues. If you want rewards at Costco, this is the only card option. Some other retailers offer their own branded cards with higher rewards rates, but Costco does not. The 2% cash back at Costco (or 4% for Executive members) is what the program provides.
If you do not have a Costco membership, you cannot open the card. If you are considering membership primarily to get the card, remember that membership itself costs money — Gold Star is $65 per year and Executive is $130 per year. The card has no annual fee, but the membership does.
What happens if you cancel your membership or card
If you cancel your Costco membership, your Costco Visa card stops working at Costco, though it remains a valid Visa card everywhere else. You can still use it at restaurants, gas stations, and other retailers to earn the 1% or 3% rewards in those categories. However, you lose access to the 2% or 4% Costco rewards.
If you cancel the card itself but keep your membership, you can no longer earn rewards, but you can still shop at Costco using your membership card or phone number. Any cash back you earned before cancellation will still be paid out in the next annual payout cycle.
If you close your Citi account or the card is closed by Citi due to inactivity or other reasons, you will receive written notice. Any earned rewards will be paid according to the normal schedule unless Citi has a specific reason to withhold them.
Frequently Asked Questions
Can I use the Costco Visa outside the United States?
Yes. The card works anywhere Visa is accepted internationally. You earn the same rewards rates abroad as you do in the US. Citi does not charge a foreign transaction fee, which means you avoid the 2% to 3% fee many other cards charge for overseas purchases.
What if I have an old Costco American Express card?
Costco stopped issuing American Express cards in 2016 and switched to Visa. If you have an old Amex card, it will stop working at Costco on the expiration date printed on the card. You can open a Costco Visa card to replace it. Your old Amex rewards will be paid out according to the schedule Citi provided when you held that card.
Do I earn rewards on Costco.com purchases?
Yes. Online purchases at Costco.com earn the same 2% cash back (or 4% for Executive members) as in-warehouse purchases. You must use your Costco Visa card to pay for the order to earn the rewards.
Can I transfer my cash back to another account or use it for something other than Costco?
Cash back is credited to your Costco account as a balance you can spend on anything Costco sells. You cannot transfer it to a bank account or use it outside Costco, except by requesting a check. If you request a check, Citi will mail it to you, and you can deposit it anywhere.
What if I dispute a charge on my Costco Visa?
Contact Citi directly at the number on the back of your card. Citi handles all disputes, billing questions, and account issues. Costco does not manage the card account itself — Citi does. Citi will investigate the dispute and credit your account if the charge is found to be unauthorized or incorrect.