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Review: Is the Costco Anywhere Visa Business Card by Citi the best credit card for you?
The Costco Anywhere Visa® Business Card by Citi is one of those rare store credit cards that you can use at locations other than the merchant printed on its face. To boot, this no-annual-fee credit card comes with some of the best return rates in its class. It earns:
- 4% cash back on eligible gas 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 for-profit venture. 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 Costco Anywhere Visa® Business Card by Citi.
Good to Excellent
3 free nights (each valued up to 50,000 points) after qualifying purchases and 10x total points on eligible purchases in select categories
Good to Excellent
$200 after spending $500 on purchases in the first three months from account opening
Good to Excellent
Comparison: Costco Anywhere Visa Business vs other Citi cards
Costco Anywhere Visa Business vs other cash-back business cards
How to earn rewards from the Costco Anywhere Visa Business card
The Costco Anywhere Business Card isn’t captive to Costco stores and Costco.com. It’s a Visa card that you can use anywhere — and its incentives are strong for a few everyday purchases.
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 Costco Anywhere Business Card online and see no indication of a bonus, it could be worth heading to a Costco warehouse and inquiring.
You’ll receive 4% cash back on gas 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.
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 Chase Sapphire Preferred® Card; it earns 3 points per dollar at restaurants, which translates to an effective 5.4% back in travel (per Insider’s estimations).
Eligible 3% travel purchases for the Costco Anywhere Business Card are limited to the following:
- Rental cars
- Travel agencies (including Costco Travel)
The Costco Anywhere Business Card earns 2% cash back for Costco purchases. This combines with the earning rate you receive from a Costco Executive membership ($120 each year) which also earns 2% cash back on Costco purchases. In other words, Costco Executive members can earn 4% back with Costco if they have this card — or 5% back if they’re making a purchase through Costco Travel.
Read more: How to book discounted travel with your Costco membership
All other eligible purchases
The Costco Anywhere Business Card earns 1% on any other purchase that doesn’t fall into the above categories, with no cap.
How to use rewards from the Costco Visa Business card
Here’s 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 and 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 Costco Anywhere Business Card doesn’t add foreign transaction fees, so it’s a safe card to spend on when you’re out of the country.
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Fees and costs
Again, this card incurs no annual fee or foreign transaction fees. However, you will be charged an APR of 15.24% (Variable) if you carry a balance.
You’ll also be charged for cash advance fees, 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.