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The information for the following product(s) has been collected independently by Business Insider: Costco Anywhere Visa® Business Card by Citi. The details for these products have not been reviewed or provided by the issuer.
Even for those who aren't loyal Costco shoppers, the
Costco Anywhere Visa Business Card Details
The
- 4% cash back on eligible gas and EV charging purchases worldwide (up to $7,000 in spending per year, then 1%)
- 3% cash back at restaurants and for eligible travel purchases
- 2% cash back at Costco (in addition to any cash back you'll earn from your Costco membership)
- 1% cash back on all other eligible purchases
A big downside is that there's no publicly available sign-up bonus — but you may be able to get one anyway (I'll explain).
This is a small-business credit card, meaning you won't qualify unless you have a small business. Things like freelance writing, tutoring, and driving for a rideshare company can count, however. You don't need a proper LLC to open a business credit card.
Here's everything you need to know about the
How to earn rewards with the Costco Business Card
The
The card unfortunately does not offer a welcome bonus publicly, but Costco members are occasionally targeted for a bonus when opening a Costco membership. If you begin to apply for the
Gas stations and EV charging
You'll receive 4% cash back on gas and EV charging purchases with this card on up to $7,000 in spending per year (then 1%). That earning rate tops the list in our guide to the best credit cards for gas purchases. If your primary motivation is cash back, this no-annual-fee card is difficult to beat.
Restaurants/travel
The card also accrues 3% cash back at restaurants and on eligible travel purchases. Again, these are some of the best returns among no-annual-fee credit cards — though you can receive significantly more value from your spending if you're willing to open a proper travel credit card like the
Eligible 3% travel purchases for the
- Airfare
- Hotels
- Rental cars
- Cruises
- Travel agencies (including Costco Travel)
Costco purchases
The
All other eligible purchases
The
How to use rewards from the Costco Visa Business card
Here are a couple of slight "gotchas" with this card:
- To redeem your cash back, you'll need to be inside a Costco warehouse
- The card only pays out once per year
Neither of these qualities is normal for a cash back credit card, and they're quite inconvenient.
In short, your rewards become available to you each year after your February billing statement closes. You'll receive a "reward certificate" valid for the amount of cash back you earned during the previous year. You can redeem this for either cash back or merchandise at a Costco warehouse.
If you redeem for merchandise amounting to less than the cash back you've earned, you'll receive the difference in cash at checkout. We recommend requesting cash back and then using your Costco card to purchase the merchandise you want, then using the cash back to pay off your bill. You'll earn more rewards this way.
Also, if you've earned more than $10,000 in cash back, you may receive your reward in the form of a check or electronic transfer.
Benefits and features
If you're looking for a benefits-rich credit card, this isn't it. However, its earning rates are complemented by a few useful benefits, such as:
- Extended warranty protection
- Damage and theft protection (stolen/damaged items purchased within 120 days may be refunded or covered for repair)
- Worldwide travel accident insurance
- Worldwide rental car insurance
If you're looking to make an expensive Costco purchase, such as a new TV or computer, you want to use a card that offers these purchase protections. The fact that the card will also offer a 2% return on these purchases is just icing on the cake.
The card also comes with peripheral benefits, such as:
- Citi Quick Lock: Instantly block new purchases/cash advances
- Citi Entertainment: Exclusive access for purchasing admission for thousands of events — including presale tickets
- Citi® Concierge: Access to help with travel, dining, shopping, entertainment, etc.
Authorized user cards are free with this no-annual-fee card — however, anyone who makes a Costco purchase must have a valid Costco membership. Costco membership starts at $60 per year.
The
Fees and costs
Again, this card incurs no annual fee or foreign transaction fees. However, you will be charged an APR of
You'll also be charged fees for cash advances, late payments, and returned payments. Interestingly, this card does not seem to offer the option for balance transfers — so there are no balance transfer fees to speak of.
Costco Business credit card frequently asked questions (FAQ)
What credit score do you need for the Costco Business credit card?
To be considered for the
Is the Costco Business credit card worth it?
The
Can you use a Costco credit card anywhere?
Yes, you can use the
Why You Should Trust Us
We focused on the following factors when reviewing the Costco business credit card:
- Ease of use — Does the card have a rewards program and benefits that are easy to use and navigate? Is it easy to redeem rewards?
- Rewards earning — If there's a welcome bonus, is it competitive with other cards? Are there ongoing bonus categories, and are any capped at a maximum spending amount?
- Benefits — Are the card's benefits useful, especially to business owners, and do they justify the card's annual fee if there is one?
- Annual fee — If the card has an annual fee, is it offset by the value of the rewards and perks it offers?
Here's our guide to how we rate credit cards for more details about our methodology.