If you’re a Costco shopper you might want to check out the two new additions to the Costco credit card portfolio – the Costco Anywhere Visa® Card by Citi and Costco Anywhere Visa® Business Card by Citi. The wholesale retailer teamed up with Citi to release the new cards offering up to 4% cash back.
Whether people get the consumer or business card the cashback rewards are the same with people getting 4% cash back rewards when gassing up (up to $7,000 and 1% from that point on), 3% back on restaurants and travel purchases no matter where they go and when eating out, 2% back when shopping at Costco and 1% on all other purchases.
There is no fee for this credit card.
For Costco these cash back rewards are all about rewarding loyal customers, with enhanced cash back, along with security boosting chip technology and global acceptance.”We have a strong relationship with our members and it’s important that we’re rewarding their loyalty to us,” said Craig Jelinek, CEO and President, Costco. “Our new co-brand credit card agreement with Citi on the Visa network enables us to offer significant value and benefits for our members across 494 locations in the U.S. and Puerto Rico.”
People can also use the new cards as Costco ID cards so they can shop in Costco, but they also give them access to additional benefits including:
• Damage & Theft Protection
• Extended Warranty
• Worldwide Car Rental Insurance
• Worldwide Travel Accident Insurance
• Trip Cancellation and Interruption Protection
Transition from Amex to Citi Visa
And along with the roll out of these new cards Costco will only be accepting Visa branded cards in their stores and gas stations. In 2015 Costco ended their relationship with American Express, and decided to team up with Citi and Visa.
People who already have credit cards with Costco should have received their new credit cards already. If they have not cashed out their rewards, they will be transferred to the new card so they do not lose any rewards with this transition from Amex to Visa.
Individuals who would like to apply for the card can do so on Costco stores or via the website.