Citi Costco Anywhere Visa Business Card Review
The Citi Costco Anywhere Visa Business Card offers generous rewards on both business and everyday purchases. To enjoy the Citi Costco Anywhere Visa Business Card benefits you do not need to pay an annual fee. However, you do have to be an active Costco member.
For generous rewards on gas and travel expenses, the Citi Costco Anywhere Visa Business Card is a good choice. The reward rates offered by this card make it a high-value card for small and medium businesses that are loyal to Costo. Categories such as gas purchases earn you up to 4% cashback with this card, while rewards for travel and restaurant purchases are set at 3%. Your Costco purchases will earn you 2% cash back and all other eligible purchases get 1% cash back. For Costco members, especially business owners, the Citi Costco Anywhere Visa Business Card is a great way to earn substantial rewards.
Card Details to Know Up Front
- Bonus, Fee or FeatureHas or Not
- Has Annual Fee
- Has Balance Transfer Offer
- Has APR Offer
- Cash Back Rewards
- Travel Rewards
Citi Costco Anywhere Visa Business Card at a Glance
When looking for a business card that caters to the spending needs of small businesses, the Citi Costco Anywhere Visa Business Card is a compelling choice. This card offers high rewards in categories that some businesses spend the most money in. This includes gas and travel expenses where you earn 4% and 3% cash back, respectively.
- Citi Costco Anywhere Visa Business Card
An excellent no annual fees rewards card for Costco members
- ExcellentCredit Needed
- $0Annual Fee
- 1–4% Cash Back*Rewards Rate
- 4xRewards Rate on Gas
- 3xRewards Rate on Dining
Pros & Cons Explained
Like any other credit card, the Citi Costco Anywhere Visa Business Card comes with pros and cons. Understanding these will help you determine if this is the right business card for you.
- Competitive rewards structureFor gas and travel and dining expenses, the Citi Costco Anywhere Visa Business Card offers some of the most generous rewards rates in the market at 4% and 3%, respectively. You also get 2% cash back on your Costco purchases.
- No foreign transaction feeThis card has no foreign transaction fees, which is a plus for businesses that order from overseas suppliers or travel internationally frequently.
- No annual feeThe Citi Costco Anywhere Visa Business Card does not have an annual fee, so you can get maximum value from it without annual fees eating into your rewards.
- Costco membership is requiredTo qualify for the Citi Costco Anywhere Visa Business Card, you need to be an active Costco member. Membership costs $60 or $120 if you want to join as an executive member.
- Limited rewards redemption optionsYou can only redeem your Costco rewards once a year in February. You are also limited to only redeeming your rewards from U.S Costco locations in the form of merchandise or cash back.
You can check out MoneyGeek’s review of the best business credit cards to compare features of the Citi Costco Anywhere Visa Business Card with other credit cards and find the best option for your spending habits.
Bonuses & Rewards Explained
In order to understand if you can make the most of the bonuses and rewards offered by the Citi Costco Anywhere Visa Business Card, here’s a breakdown of what you need to know.
Rewards Earning Details
The Citi Costco Anywhere Visa Business Card rewards vary for different spending categories. You can earn 4% cash back for gas purchases worldwide, 3% cash back for travel and restaurant purchases, 2% cash back for in-store and online Costco purchases and 1% cash back on all other purchases. Rewards for gas purchases are capped at $7,000 per year. If you spend more than that limit on gas purchases, the reward rate will drop to 1%.
Redeeming your Citi Costco Anywhere Visa Business Card rewards is limited to once a year at the close of your billing statement in February. Your rewards can only be redeemed at a Costco warehouse either for cash back or merchandise. These limitations in how you redeem your rewards make the Citi Costco Anywhere Visa Business card restrictive.
Maximizing Your Rewards
If you want to make the most of your Citi Costco Anywhere Visa Business card, you can increase your rewards by using this card for all your gas purchases. This will earn you rewards at a 4% rate which is one of the best reward rates in the market for gas purchases. Spending categories such as travel and dining will also earn you decent rewards if you use this card.
The Citi Costco Anywhere Visa Business card is only available to Costco members. This means that while this card has no annual charges, you do need to pay the $60 required for a Costco membership or $120 if you want to be an executive member. For businesses who already buy most of their supplies from Costco, this card is an easy way to earn generous rewards on Costco purchases and other spending categories.
Other Features Explained
Beyond the rewards and benefits, the Citi Costco Anywhere Visa Business Card comes with some extra features that make the card extra valuable.
- Card FeatureDescription
- Purchase protectionIf purchases made with your Citi Costco Anywhere Visa Business Card are stolen or damaged, you can get a refund or replacement if you report within 120 days of purchase.
- Virtual card numbersThis card allows you to generate a substitute Citi card number when shopping online to protect your account details.
- Customer serviceAs a Citi Costco Anywhere Visa Business Card customer, you get access to 24/7 customer service. You can also manage your account online or using the Citi mobile app.
For business owners who sign up for the Citi Costco Anywhere Visa Business Card, the Citi concierge service can help with travel, shopping, dining and entertainment, saving your business time.
Understanding the Fine Print
Before you apply for the Citi Costco Anywhere Visa Business Card, it is important to be aware of the applicable charges and fees that will apply to your account.
- Card FeatureAmount or Rate
- Annual Fee$0
- Cash Back Rewards
- Rewards Rate1–4% Cash Back*
- Airline Benefits
The regular variable APR on purchases is 15.24% depending on factors such as your creditworthiness. The Citi Costco Anywhere Visa Business Card does not have an introductory APR offer.
Cash Advance APR
For cash advances, the APR is 25.24%. You will also pay a cash advance fee of either $10 or 5% of the amount of the cash advance, whichever is greater.
Rewards Earning Rate
You will earn 4% cash back for all your gas purchases up to the $7,000 limit per year. Your travel and restaurant expenses will earn rewards at a rate of 3%, while your in-store and online Costco purchases will earn cash back at a rate of 2%. The Citi Costco Anywhere Visa Business Card is also accepted in other stores besides Costco, so you will earn 1% cashback for all eligible purchases.
This card has no annual fee, but you do need to have a Costco membership to qualify for this card.
Foreign transaction Fees
The Citi Costco Anywhere Visa Business Card has no foreign transaction fee. This means that you can use it when traveling internationally or order from suppliers outside the U.S. without paying additional transaction fees.
If you would like to find out more information about the Citi Costco Anywhere Visa Business Card or any other credit card in your wallet, you can verify information on the card issuers website or check MoneyGeek for the card details. You will also find useful information about your card in your latest billing statement, the card issuers mobile app or the credit card agreement database maintained by the Consumer Financial Protection Bureau.
Who Should & Shouldn’t Consider Citi Costco Anywhere Visa Business Card?
Other Considerations for Citi Costco Anywhere Visa Business Card
For small businesses that spend a lot on travel, dining and gas, the benefits offered by the Citi Costco Anywhere Visa Business Card can be very rewarding. However, how you intend to use this card can be a great indicator of whether or not it’s right for you.
Things to Consider if This Will Be Your First or Only Credit Card
If you plan on having the Citi Costco Anywhere Visa Business card as your only or primary business card, you should keep in mind that you will get the most value out of this card if you have high expenses in gas, travel and dining. If you spend more on other categories, you will be better off opting for business cards that offer high cash back rates across all categories.
With the Citi Costco Anywhere Visa Business Card you will only be able to redeem your rewards once a year in February, and you can only redeem them at a Costco warehouse.
Like other co-branded cards, you will get the most value out of this card if you make most of your purchases at Costco. If you prefer other stores or shop from multiple sources, you might be better off considering a business card that is not co-branded.
Things to Consider if This Will Be an Additional Card in Your Wallet
If you plan on having the Citi Costco Anywhere Visa Business Card as a complementary business card you can make the most of it by using it for all your gas purchases as well as travel expenses to take advantage of the 4% and 3% rewards rate you get in these categories. For all your other purchases, you can use a cash back card that gives you a better rate and more flexible redemption options.
Additionally, if you are a business that orders from international suppliers or travels internationally frequently, you will not have to pay any foreign transaction fees if you use the Citi Costco Anywhere Visa Business Card.
MoneyGeek uses a comprehensive, six-step process that involves collecting credit card information, standardizing data point weights, establishing the card’s value and ranks for different categories, reviewing data monthly and reprocess rankings, among other key rating factors. Our methodology and review process helps us determine the best credit cards for different consumer profiles based on card fees, interest rates, rewards, benefits and more.
How Citi Costco Anywhere Visa Business Card Compares to Other Cards
The Citi Costco Anywhere Visa Business Card offers decent rewards in spending categories such as gas and travel. For businesses that spend a lot in these categories, this card offers a lot of value. However, if you compare this card with other cards, you may find an option that is better suited to your needs.
Quick Comparison of Citi Costco Anywhere Visa Business Card
Citi Costco Anywhere Visa Business card
- Annual fee: None
- Purchase APR: 15.24% Variable
- Foreign transaction fee: None
- Rewards rate: 4% cash back on gas, 3% cash back for travel and dining, 2% cash back at Costco stores, 1% cash back on all other purchases.
- Redemption options: Limited to once a year at Costco Warehouses
- Mini Verdict: Best for Costco members who spend a lot on gas, travel and dining expenses.
American Express Business Gold Card
- Annual fee: $295
- Purchase APR: 14.24% to 22.24% Variable
- Foreign transaction fee: None
- Rewards rate: Four points per dollar on the two categories you spend the most each billing period on up to $150,000 in annual spending.
- Redemption options: Multiple options with no time restrictions.
- Mini Verdict: Best for businesses looking for high rewards in specific categories and a flexible business card.
Other Helpful Decision-Making Q&As
To find out more about the Citi Costco Anywhere Visa Business card benefits and features, here are some answers to the most frequently asked questions.
Still not sure about this card? Consider these options.
For small to medium businesses that make most of their purchases from Costco and spend heavily on gas and travel, the Citi Costco Anywhere Visa Business Card offers great rewards and value. However, if you aren’t sure about applying for this card, you can check out the best rewards, cash back, gas or even student credit cards.
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Learn more about credit cards in general
- Citi. "Costco Anywhere Visa Business Card." Accessed September 11, 2021.
- Forbes Advisor. "American Express Business Gold Card 2021 Review." Accessed September 11, 2021.
- Forbes Advisor. "Costco Anywhere Visa Business Card By Citi 2021 Review." Accessed September 11, 2021.
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