Costco offers two credit cards, and which one you can get depends on your membership level
Costco has two branded credit cards: the Costco Anywhere Visa Card and the Costco Visa Card. The Anywhere card works at any merchant that takes Visa. The regular Costco card works only at Costco, Costco Gas, and Costco.com. Both are issued by Citi. You do not need to be a Costco member to open either card, but the rewards structure and benefits differ based on your membership status.
The main difference between the two cards is where you can use them and what you earn back. The Anywhere card gives you cash back at any store, restaurant, or gas station in the world. The regular Costco card gives you higher cash back at Costco itself but only works there. If you shop at Costco regularly and rarely use the card elsewhere, the Costco card typically pays more. If you want one card for everywhere, the Anywhere card is the choice.
Key Takeaways
- The Costco Visa Card earns 2% back at Costco and Costco Gas, but only works at Costco locations and online.
- The Costco Anywhere Visa Card earns 1% back at Costco and 1% to 4% back at other merchants depending on category, and works anywhere Visa is accepted.
- Both cards carry an annual fee that matches your Costco membership tier: $60 for Gold Star, $120 for Executive.
- You can hold both cards at the same time, and both require a credit check at opening.
- Rewards post as an annual statement credit, not monthly, so you receive one lump payment once per year.
How the Costco Visa Card works and what it pays
The Costco Visa Card earns 2% cash back on all Costco and Costco Gas purchases, 1% back on all other purchases, and 3% back on travel booked through Costco Travel. There is no annual fee separate from your Costco membership — the card fee is built into your membership cost. If you have a Gold Star membership at $60 per year, your card costs $60 per year. If you have an Executive membership at $120 per year, your card costs $120 per year.
The card only works at Costco warehouses, Costco Gas stations, and Costco.com. You cannot use it at restaurants, other retailers, or outside Costco locations. This limitation means the card is useful only if Costco is a regular part of your shopping routine. The cash back you earn posts once per year as a statement credit, usually in December, rather than monthly deposits.
You do not need an existing Costco membership to open the card, but you will need to join Costco to use it. If you open the card without a membership, Costco will prompt you to choose a membership level before you can set up the card.
How the Costco Anywhere Visa Card works and what it pays
The Costco Anywhere Visa Card earns 4% back on gas (including Costco Gas), 3% back on restaurants and travel, 2% back at Costco, and 1% back on everything else. Unlike the regular Costco card, this card works anywhere Visa is accepted — grocery stores, gas stations, restaurants, online retailers, and everywhere else. The annual fee is $99 and is charged directly to your card, separate from any Costco membership fee.
The Anywhere card is useful if you want a single card for everyday spending outside Costco. The 4% back on gas and 3% back on restaurants can add up quickly if you use those categories regularly. However, the $99 annual fee means you need to spend enough to make the rewards worthwhile. If you spend $2,500 per year at Costco and $7,500 at other merchants in high-reward categories, the card roughly pays for itself.
Like the regular Costco card, rewards post once per year as a statement credit. You do not need a Costco membership to open the Anywhere card, but you will earn only 1% back on non-Costco purchases if you do not have a membership. With a membership, you earn 2% at Costco locations.
Annual fees and how they compare to the membership cost
The Costco Visa Card has no separate annual fee — you pay only your Costco membership fee, which is $60 for Gold Star or $120 for Executive. The Costco Anywhere Visa Card charges $99 per year on top of any membership fee you choose to pay. If you have both a membership and the Anywhere card, your total annual cost is $159 (Gold Star) or $219 (Executive) plus the $99 card fee.
The question of whether the fee is worth it depends on your spending. The Anywhere card's 4% back on gas means you break even on the $99 fee if you spend about $2,475 per year on gas alone. Add in 3% back on restaurants and travel, and the math becomes easier. The regular Costco card has no separate fee, so it is worth opening if you shop at Costco at all.
Costco occasionally runs promotions that waive the first-year fee on the Anywhere card or offer a cash back bonus for new cardholders. These offers change throughout the year, so check Costco's website or ask at the membership desk if you are considering opening the card.
Credit requirements and the process process
Both Costco cards are issued by Citi and require a credit check. Citi typically looks for a credit score of 670 or higher, though this is not a hard rule — some people with lower scores have been approved, and some with higher scores have been denied. The decision depends on your full credit history, not just your score. You will need a Social Security number and a valid form of identification to open either card.
You can open a card online at Costco.com, in person at a Costco warehouse, or by phone through Citi. The online process takes about 10 minutes and gives you an when ready decision in most cases. If you explore in person, a Costco employee can submit your process and you will usually know the result within a few minutes. Phone applications take longer and may require follow-up.
Once approved, your physical card arrives by mail in about 7 to 10 business days. You can use the card number when ready for online purchases if Citi provides it during approval. There is no annual fee to close either card, and you can close it at any time by calling Citi.
Can you have both cards at the same time
Yes, you can hold both the Costco Visa Card and the Costco Anywhere Visa Card simultaneously. Some people keep both: they use the regular Costco card at Costco for the 2% back and the Anywhere card for everyday spending outside Costco. This strategy works if you spend enough to justify the $99 annual fee on the Anywhere card.
Having both cards does not affect your credit limit or approval odds for either one. Citi treats them as separate accounts. Your cash back from each card posts separately once per year, so you will receive two statement credits in December — one from each card.
Costco card rewards compared to other cash back cards
The Costco Visa Card's 2% back at Costco is competitive with general cash back cards, which typically offer 1.5% to 2% on all purchases. The advantage of the Costco card is that it has no annual fee if you already have a membership. The disadvantage is that it only works at Costco.
The Costco Anywhere Visa Card's 4% back on gas is higher than most competitors. Most gas rewards cards offer 2% to 3% back. The 3% back on restaurants and travel is also above average. However, the $99 annual fee means you need to spend more to come out ahead than you would with a no-fee card that offers 2% back on everything.
If you do not shop at Costco, a general 2% cash back card with no annual fee (such as the Citi Double Cash or Capital One Quicksilver) will likely pay more over time. If you shop at Costco regularly, the Costco card's lack of an annual fee makes it hard to beat, even if the rewards rate is slightly lower than some competitors.
Frequently Asked Questions
Do I need a Costco membership to open a Costco credit card?
No, you can open either card without a membership. However, if you open the regular Costco card without a membership, you will need to join Costco to use it. The Anywhere card works without a membership, but you earn only 1% back on non-Costco purchases instead of 2% if you do not have a membership.
What happens to my rewards if I cancel my membership?
Your card remains active and usable, but the regular Costco card will no longer work at Costco locations. The Anywhere card continues to work everywhere. Any rewards you have already earned will post as a statement credit at the end of the year. You will not lose rewards you have already accumulated.
Can I use the Costco card at Costco Gas if I do not have a membership?
No, you must have an active Costco membership to use Costco Gas, regardless of which card you have. The card alone does not grant you access to the gas station.
How long does it take to receive my cash back rewards?
Cash back from both cards posts once per year as a statement credit, typically in December. You do not receive monthly rewards. This means you wait up to a year to see your cash back, which is different from most other cash back cards that post rewards monthly or when ready.
What is the difference between the Gold Star and Executive membership cards?
The Costco Visa Card fee matches your membership level: $60 for Gold Star or $120 for Executive. The card itself works the same way and earns the same rewards rate regardless of membership tier. The Executive membership includes additional warehouse benefits and a 2% reward on Costco purchases, but the credit card rewards are separate from membership rewards.