Citibank Costco Visa Card

As of June 20th 2016 Costco stopped accepting American Express Cards and switched to Visa cards. You can now apply for the new Citibank Costco Visa Card.

You need to have a Costco membership before you apply for this credit card; you can apply here. The Citibank Costco Visa Card is strictly a cash back credit card and has $0 annual fee.

Citibank Costco Visa Card Details:

• 4% cash back on eligible gas worldwide, including gas at Costco, for the first $7,000 per year in gas purchases and then 1% thereafter.
• 3% cash back on restaurant (including cafes, bars, lounges and fast food restaurants) and eligible travel purchases worldwide, including airfare, hotels, car rentals, travel agencies, cruise lines and Costco Travel.
• 2% cash back on all other purchases from Costco and Costco.com.
• 1% cash back on all other purchases, including the non-qualifying purchases listed above.

Even though you can earn bonus cash back on some of these categories “worldwide” – I wouldn’t recommend using this card internationally since it has a 3% foreign transaction fee on purchases made abroad. 

Also, keep in mind that even though Costco’s deal is with CitiBank; any Visa card is now accepted. This makes the Chase Freedom card a great card to use while shopping at Costco. Chase is taking advantage of this switch by extending their 5X cash back category at wholesale clubs all the way through the end of 2016! 

Bottom Line:

If you’re interested in cash back rewards rather than points/miles, the Citibank Costco Visa Card is a good card to use in rotation with the Chase Freedom card that offers 5X cash back on certain categories every quarter. In addition to that, it’s always a good thing to have a credit card with $0 annual because you can keep it open forever which increases the average age of your accounts – this is one of the fundamental factors that affect your credit score. 

If you have any questions please tweet me @pointspointers or email me at pointspointers@gmail.com or comment below.