Costco Anywhere Visa® Business Card by Citi
Costco Anywhere Visa® Business Card by Citi

Costco Anywhere Visa Business Card by Citi Review: Should You Get It?

Costco Anywhere Visa Business Card by Citi Review: Should You Get It?

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Editor's Rating

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  • On Citibank's Secure Website

Editor's Rating

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  • On Citibank's Secure Website

The Costco Anywhere Visa® Business Card by Citi is a highly valuable cashback credit card for small business owners with its Costco benefits and its business-minded bonus categories.

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The Costco Anywhere Visa® Business Card by Citi is a great card with its $0 annual fee and unlimited cash back on a variety of popular categories for business owners. Cardholders earn 4% cash back on eligible gas*, 3% on eligible restaurants & travel, 2% at Costco & Costco.com, and 1% on all other purchases.

These rewards are above average within their respective categories, beating even many of the top business credit cards on the market. As a result, the Costco business card does a great job of catering to small business owners with high rewards in places where many business owners spend most. Note, however, you must have an active Costco membership to apply, keep the card active and receive your cashback rewards.

And you only receive cash back once per year in the form of a certificate, which you forfeit if you cancel your membership before then.

*The gas category is capped at $7,000 in purchases per year. After that, you earn 1% cash back on gas.

Costco Anywhere Visa® Business Card by Citi

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$0

15.24% (Variable)

Excellent

  • Discover the only business credit card designed exclusively for Costco members
  • 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter
  • 3% cash back on restaurants and eligible travel purchases
  • 2% cash back on all other purchases from Costco and Costco.com
  • 1% cash back on all other purchases
  • No annual fee with your paid Costco membership and enjoy no foreign transaction fees on purchases
  • Whether you're traveling for business or pleasure, enjoy no foreign transaction fees on purchases
  • Receive an annual credit card reward certificate, which is redeemable for cash or merchandise at U.S. Costco warehouses, including Puerto Rico

Pros

  • Extremely competitive rewards structure
  • Extensive list of benefits
  • $0 annual fees

Cons

  • Cap on gasoline rewards
  • Canceling Costco membership cancels the card and loses accrued rewards
  • No sign-on bonus
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4% cash back on gas

One of the best features of the Costco Anywhere Visa® Business Card by Citi is the earning rate allows small business owners to maximize their Costco visa rewards in the areas where they spend most, like gas, travel, dining and bulk goods.

Cardholders earn 4% cash back on eligible gas*, 3% on eligible restaurants & travel, 2% at Costco & Costco.com, and 1% on all other purchases.

*The only cap is on the gas category, which drops to 1% after your first $7,000 in purchases each year.

The 4% back on gas makes this card one of the best options for gas purchases before hitting the annual cap. Additionally, the Costco business card is a solid choice for restaurants and travel with its unlimited 3% cash back.

On the other hand, though the 2% cash back at Costco is good, many other cards like the Chase Ink Business Unlimited® Credit Card come close to matching it. The Chase Ink Business Unlimited® Credit Card lets you Earn unlimited 1.5% cash back on every purchase made for your business with no caps. The ability to shop at locations other than Costco for 1.5% cashback may be worth considering if you want more flexibility for your business.

Redeeming cash back

There is only one option for redeeming points with the Costco Anywhere Visa® Business Card by Citi, making redemption of your cashback credit pretty inflexible. Unlike cards, such as the Capital One Spark Cash for Business that let you redeem any amount at any time with no expiration dates, you can only redeem your Costco rewards once a year. Your rewards come with many other restrictions:

  • Rewards are issued as a certificate after the close of your February statement each year.
  • The certificate can only be redeemed for cash or merchandise at any U.S. Costco warehouse location.
  • The certificate expires if you don’t use it by Dec. 31 of that year.
  • Additionally, if you cancel your Costco card before receiving your annual credit, you forfeit all your rewards for that year.

Other Costco Anywhere Visa® Business Card by Citi benefits

On top of a competitive rewards structure, the Costco Anywhere Visa® Business Card by Citi also offers many other benefits to users. Some of the Costco Anywhere Visa® Business Card by Citi benefits include:

The Costco Anywhere Visa® Business Card by Citi comes with 0% foreign transaction fees, making this card great for foreign business travel as well as making purchases from websites outside the U.S.

Purchase protection may help cover repairs or refund you if purchases made with your Costco Anywhere Visa® Business Card by Citi are damaged or stolen within 120 days of purchase (90 days for New York residents).

The Costco Anywhere Visa® Business Card by Citi extended warranty extends the manufacturers’ warranty on qualified purchases by 24 months so you feel more confident when making purchases for your business.

Citi tracks your account activity in search of any suspicious activity. If they notice any, they will reach out to you via text, email or mail to confirm the activity on the account and protect you.

Citi Entertainment gives special access to thousands of events including presale tickets, exclusive concert experiences, sporting events, dining and more, making it a great option for treating clients, employees or yourself.

The Citi Concierge service gives access to Citi’s expert staff to help save your business time. Their team can help with travel, shopping, dining, entertainment and everyday needs.

How does the Costco Anywhere Visa® Business Card by Citi compare to other cards?

Unsure about the Costco Anywhere Visa® Business Card by Citi ? Here's how the Costco Anywhere Visa® Business Card by Citi stacks up next to some of our favorite business cashback cards:

Costco Anywhere Visa® Business Card by Citi vs. Ink Business Unlimited® Credit Card

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The Ink Business Unlimited® Credit Card is a great option for business owners looking for a simple rewards structure with no caps or additional considerations needed. The Ink Business Unlimited® Credit Card’s simple earning rate is easy to understand, awarding the same high rate of cash back on all purchases.

Earn unlimited 1.5% cash back on every purchase made for your business.

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Some other benefits of the card are a 0% Intro APR on Purchases for 12 months (followed by an APR of 13.24% - 19.24% Variable) and the ability to redeem your rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.

Costco Anywhere Visa® Business Card by Citi vs. Ink Business Cash® Credit Card

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The Ink Business Cash® Credit Card is an excellent cashback card for businesses and has the potential to earn even better rewards than the Costco Anywhere Visa® Business Card by Citi depending on the major expenses for your company.

Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn.

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The Ink Business Cash® Credit Card is not as rewarding as the Costco Anywhere Visa® Business Card by Citi for gas and dining expenses, but it’s a great option for common business expenses that fall under its 5% cashback category.

Costco Anywhere Visa® Business Card by Citi vs. Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card

The Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card is a $0-annual-fee card that is great for a business looking for greater flexibility with their rewards.

The Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card is a Mastercard, which means it can’t be used in-store at Costco. However, it is a great alternative for gas purchases.

Earn 3% cash back in the category of your choice, 2% cash back on dining and unlimited 1% cash back on all other purchases. You'll get 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter.

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You can change your 3% category up to once a calendar month. You can also redeem your cash back at any time as either a deposit into a Bank of America account, a statement credit, or as a check to be mailed to you. These options lend much more flexibility than the Costco Anywhere Visa® Business Card by Citi.

Is the Costco Anywhere Visa® Business Card by Citi worth it?

The Costco Anywhere Visa® Business Card by Citi is a solid choice for many businesses. If your business already purchases much of your supplies from Costco, then this card is a total no-brainer. The unlimited 2% cash back at Costco in addition to the points structure catering to common business needs makes this a potentially great choice.

Even if you do not shop at Costco, the highly competitive rewards on gas in addition to the competitive no-cap rewards on travel and dining might still be enough to sign up anyway if you already have a Costco membership and these categories make up for a lot of your business spending. On the other hand, if you want a more flexible card that doesn't require Costco membership, there are plenty of other cashback cards to choose from.

Costco Anywhere Visa® Business Card by Citi FAQs

Do you need a Costco Membership to apply?

Yes, although there is $0 annual fee on the Costco Anywhere Visa® Business Card by Citi, an active Costco membership is required to keep the card account active and earn rewards.

How much does it cost to join Costco?

Costco has three different membership options: the Gold Star Membership ($60 annually), the Business Membership ($60 annually) andthe Executive Membership ($120 annually). All three memberships qualify you for a Costco credit card.

What are Citibank’s credit score requirements for the Costco Anywhere Visa® Business Card by Citi?

Applicants need an Excellent credit score to qualify.

Can I cash my Costco rewards check?

Once you have received your annual credit card certificate, you can either spend it on items at Costco or redeem the certificate for cash at any U.S. Costco location.

What is the interest rate on the Costco Anywhere Visa® Business Card by Citi?

The Costco Anywhere Visa® Business Card by Citi collects a standard variable APR on purchases of 15.24% (Variable).

How do I redeem my Costco rewards?

Rewards are automatically issued after the close of your February statement. At that point, a certificate will be sent to you to spend at Costco or redeem for cash at a Costco location in the U.S.

The information related to Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card has been independently collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). ValuePenguin does not include all financial institutions or all products offered available in the marketplace.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).

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