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Costco Anywhere Visa® Business Card by Citi Overview
of Costco Anywhere Visa® Business Card from Citi It’s a reasonable option for small businesses who prefer cash-back perks and have a Costco membership.
Despite its name, the card does more than just earn bonus rewards on Costco purchases, making it useful for many small businesses who already shop at Costco. Card Rating*: ⭐⭐⭐
*Card ratings are the opinion of the TPG editorial department and are not affected by card issuers.
My parents own a small company that provides accounting and computer consulting services. They buy most of their office supplies at a local warehouse club similar to Costco to save money.
If you or your small business have a Costco membership, or are considering a Costco membership, this review will help you determine if your business can benefit. It’s helpful. Costco Anywhere Visa Business Card from Citi.
Who is this card for?
of Costco anywhere visa business card It’s a reasonable choice for small businesses that already have a Costco membership or can save enough shopping at Costco to justify a membership. However, this card earns cashback rewards, making it ideal for businesses who prefer the simplicity of cashback over the potential to maximize their points and miles .
of Costco anywhere visa business card does not charge an annual fee, but you and the authorized users of your account must each have a Costco membership. , $60 plus tax per year (upgrade to Executive Membership for $60 plus tax per year). Affiliate Business Members added to the Business Membership must pay an annual fee of $60 plus taxes each. So if you have more than a few employees who want to be added as authorized users to your card, Costco membership fees add up quickly.
RELATED: Is the Costco Anywhere Visa Worth It in Your Wallet?
signup bonus
of Costco anywhere visa business card We do not advertise signup bonuses. However, if you sign up for a Costco warehouse or Costco membership, you may be eligible for special offers.
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Related: Best limited time credit card offers to sign up now
Main benefits/privileges
of Costco anywhere visa business card We offer modest perks. First, the card doubles as your Costco membership ID. And unlike many store cards, you can use your card anywhere in the world that accepts Visa. Additionally, we do not charge foreign transaction fees when purchasing outside the United States.
As mentioned above, you can also add employees as authorized users, but each employee you add must have their own Costco membership.
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How to earn rewards
with Costco anywhere visa business card, earn rewards based on your card purchases. Interestingly, even though this card is Costco’s co-branded credit card, Costco purchases don’t get the best rates on this card. Now let’s take a closer look at the bonus category of cards.
4% off eligible gas and EV charging purchases
Earn 4% cash back on qualifying gas (including Costco gas) worldwide on your first $7,000 (1% thereafter) on qualifying gas and EV charger purchases annually. increase. Gas purchased at non-Costco Superstores, Supermarkets, Convenience Stores, and Warehouse Clubs, or fuel used for non-automotive purposes, is ineligible and will only earn 1%.
3% at restaurants and eligible trips
Earn 3% cashback on restaurants and eligible travel purchases worldwide. Restaurants include cafes, bars, lounges and fast food restaurants to earn 3% cash back. Purchases made at bakeries, certain restaurants/cafes within department stores, grocery stores, or warehouse clubs are excluded and will only earn 1%. Eligible travel purchases include airfare, hotels, car rentals, travel agents, cruise lines, and Costco Travel, but not train travel, commuter travel, and timeshare, campground, and bed and breakfast purchases. Purchases are excluded.
2% on Costco purchases
Earn 2% cash back on all other purchases from Costco and Costco.com.
1% otherwise
Earn 1% cashback on all other purchases, including purchases not covered above.
How does this stack up with the Costco Executive Membership?
If you have an annual Costco $120 Executive Membership, you’ll receive 2% annual rewards (up to $1,000 annually) on qualifying Costco purchases. Executive memberships are generally worthless unless you spend $250 or more each month on qualifying purchases at Costco, but this extra 2% reward for her Costco anywhere visa business cardSo between your Costco Everyday Visa Business Card and Executive membership, you’ll earn 5% on qualifying Costco Travel purchases and 4% on other qualifying Costco purchases.
Unfortunately, the terms and conditions of Executive Membership do not allow tobacco or tobacco-related products, gasoline, Costco shop cards, postage stamps, alcoholic beverages in certain states, prescription drug purchases in certain states, food court purchases, Select travel purchases (including surcharges, gratuities, travel compensation, travel purchased through third parties, upgrades, car rental facilities, resort fees and port fees).
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How to redeem rewards
of Costco anywhere visa business card earn cashback rewards, but these rewards are only distributed once a year. When your February billing statement closes, you will be issued a credit card benefit certificate for your Costco Cash Rewards balance based on the purchases on your January through December billing statements of the previous year. If your annual compensation amount exceeds $10,000, your compensation may come in another form, such as a check or wire transfer.
Next, credit card reward certificates must be redeemed in person at a US Costco warehouse (including Puerto Rico) by December 31st of the year the certificate was issued. You can redeem your certificate for merchandise or cashback. If you redeem merchandise and the purchase amount is less than the denomination of the certificate, you will receive the remaining balance in cash at checkout.
You will not receive a credit card reward certificate if the reward is less than $1 or if you close your account before the credit card reward certificate is mailed. You must maintain your Costco membership to redeem your credit card reward certificate. Additionally, some warehouses may not allow credit card reward certificates to be redeemed for alcohol purchases.
Related: Cashback vs. Points and Miles Credit Cards: Pros and Cons of Each
What cards compete with the Costco Anywhere Visa Business Card?
If you’re looking for a cashback business credit card, there are several cards competing. Costco anywhere visa business cardThe best card for your business depends largely on the categories in which your business spends the most money.
| Cashback earning rate | welcome offer | Annual fee | |
|---|---|---|---|
| ink business cash credit card | 5% for each account anniversary year on the first $25,000 spent on office supply stores and internet, cable and phone services.
2% of the first $25,000 spent at gas stations and restaurants is the year of each account’s anniversary. 1% otherwise. |
$900 bonus cashback when you spend $6,000 within the first 3 months of opening an account. | none. |
| Bank of America® Business Advantage Customized Cash Rewards Mastercard® Credit Card | 3% cash back on selected categories: gas station (default), office supply store, travel, TV/telecom and wireless, computer services, or business consulting services.
2% cash back on dining purchases (first $50,000 in select category/dining combinations per calendar year, 1% thereafter). 1% cash back on all other purchases. |
$300 statement credit when you make a net purchase of $3,000 or more within 90 days of account opening. | none. |
| american express blue business cash | 2% on all qualifying purchases up to $50,000 per calendar year, plus 1% cash back earned thereafter, automatically credited to your statement. Terms apply.
1% back on all other purchases. |
Earn $250 in statement credit when you spend $5,000 on qualifying purchases with your card within the first 6 months of your card membership. | None (see Fees and Fees). |
Depending on the type of purchases your business typically makes, one or more of these cards may Costco anywhere visa business card. Alternatively, you can add american express blue business cash™ card You can pay your wallet for expenses that would otherwise only give you a 1% cashback reward. Costco anywhere visa business card.
RELATED: Top Business Cashback Credit Cards
Conclusion
of Costco Anywhere Visa Business Card from Citi A business credit card with cashback benefits for Costco members.
Cashback rewards are only distributed once a year and you must visit a US warehouse location (including Puerto Rico locations) to redeem rewards.
However, if your business can get value from your Costco membership and want to earn cash back rewards, it might be worth adding Costco anywhere visa business card in your wallet. This card is useful if you’re already a Costco member and often have gas, restaurant, travel, or other significant expenses associated with your Costco purchases.
Apply here: Costco Anywhere Visa Business Card from Citi.
Additional reporting by Ryan Wilcox and Stella Shon.
Click here for Amex Blue Business Cash Card rates and fees.
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