Forbes Advisor uses data from various government agencies in order to determine both baseline income and spending averages across various categories. To determine the cash rewards potential of the Costco Anywhere Visa® Card by Citi * we have to look at the bonus categories and calculate what an American household might spend in those areas. This means you will forfeit your cash-back rewards, so make sure to take this into consideration before you consider canceling either your Costco membership or your Costco Visa. If you cancel your Costco membership the card is automatically canceled. Your earnings will be sent to you as a certificate that you can cash in at your local Costco warehouse. For example, if you earned cash back in 2021, you would only be able to redeem it between March and December 2022. After your February billing statement, you will have until December 31 to redeem your cash rewards earnings from the year before. Redeeming RewardsĪ major downside of the Costco Anywhere Visa is the hassle required to redeem your rewards. And on all other purchases that don’t fall under any of the aforementioned categories, the card will get 1% cash back. The same concept applies to restaurants you will earn only 1% at bakeries, restaurants and cafes inside department stores, grocery stores and other warehouse clubs.įor your shopping trips to Costco and, the Citi Costco Visa Card will earn 2%. All travel purchases ineligible for additional cash back such as timeshares, campgrounds, bed and breakfasts, trains and other commuter transports will only earn 1%.
The types of travel purchases that will earn extra cash back include airfare, car rentals, cruise lines, Costco Travel purchases, hotels and travel agencies. The Costco Card offers increased cash back on spending at restaurants and on eligible travel. The Rewards Program terms state: “You will only earn 1% cash back, not 4% for gas and EV charging purchases made at superstores, supermarkets, convenience stores and warehouse clubs other than Costco or for fuel used for non-automobile purchases.” That means if you go to a gas station that Visa classifies as a convenience store, you will only earn 1% cash back. Citi and Costco define eligible gas as those that Visa classifies as a gas station. A Costco membership is required to apply. A Costco member can use the Costco Anywhere Visa card by Citi to earn 4% cash back on eligible gas and EV charging purchases for the first $7,000 per year, then 1% thereafter, 3% cash back on restaurants and eligible travel purchases, 2% cash back on all other purchases from Costco and and 1% cash back on all other purchases.
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