Costco Anywhere Visa Business Card Review: Full Details

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Citi Costco Anywhere Visa Business Card Overview
this Citi Costco Anywhere Visa® Business Card (See Rates & Fees) A reasonable choice for small businesses who like cash back rewards and have a Costco membership. Despite its name, this card doesn’t just allow you to earn extra rewards when shopping at Costco, so it could be useful for the many small businesses that already shop at this popular wholesaler. Card Rating*: ⭐⭐⭐
*Card ratings are based on the opinions of TPG editors and are not influenced by card issuers.
this Costco Anywhere Visa Business Card This is a great option for small businesses that already have a Costco membership or can save enough on Costco purchases to justify membership. Especially if your business spends a lot on gas, travel, or meals, you may come out ahead.
However, since this card earns cash back rewards, it’s best suited for companies that prefer the simplicity of cash back rather than maximizing points or miles.
There is no annual fee for the Costco Anywhere Visa Business Card, but you and any authorized users on your account must have a Costco membership. For reference, Costco Membership Gold Star and Business memberships are $65 per year plus tax (you can upgrade to an Executive membership for an additional $65 per year plus tax).
Affiliates added to a corporate membership must pay $65 per year plus tax. Keep this in mind because Costco membership fees can add up quickly if you want to add multiple employees as authorized users on the card.
To get this card, TPG recommends you have a credit score of at least 740, but it’s not uncommon to be approved with a lower score.
If you or your small business have a Costco membership – or are considering becoming a Costco member – this review can help you determine whether your business could benefit from the Costco Anywhere Visa Business Card.
Costco Anywhere Visa Business Pros and Cons
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Costo Anywhere Visa Business Welcome Offer
this Costco Anywhere Visa Business Card Welcome bonuses are not advertised. However, you may get special offers at Costco warehouses or when you sign up for a Costco membership.
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If possible, we recommend trying to get the welcome offer on this card before applying.
Relevant: The most suitable limited-time credit card offer to apply for right now
Costo Anywhere Visa Business Benefits
this Costco Anywhere Visa Business Card Provide modest benefits. First, your card doubles as a Costco membership ID. And, unlike many store cards, you can use your card anywhere around the world where Visa is accepted.
Plus, you don’t have to pay any foreign transaction fees when shopping outside the U.S., which is a big plus for business owners who work abroad.
As mentioned before, you can also add employees as authorized users (although each employee you add will need their own Costco membership).
Cardholders will receive:
Additionally, if you have Costco’s $130 annual executive membership, you’ll earn 2% back annually on qualifying Costco purchases (up to $1,250 back each year). While an executive membership is generally not worth it unless you make qualifying purchases at Costco each month, this extra 2% bonus stacks with the Costco Anywhere Visa Business Card.
So, between the Costco Anywhere Visa Business Card and Executive membership, you can earn 5% back on eligible Costco travel purchases and 4% back on other eligible Costco purchases.
Unfortunately, the terms and conditions of executive membership do not cover a variety of purchases, including purchases of cigarettes or tobacco-related products, gasoline, Costco store cards, stamps, alcoholic beverages in some states, prescription drug purchases in some states, purchases in food courts and select travel purchases (including surcharges, gratuities, travel protection, travel purchased through third parties, upgrades, rental equipment, resort fees and port charges).
Earn Cash Back with Costco Anywhere Visa Business
along with Costco Anywhere Visa Business Cardyou will receive rewards in multiple categories. Interestingly, even though the card is a Costco co-branded credit card, shopping through Costco does not earn the card’s highest interest rate. So, let’s take a closer look at the card’s bonus categories.
Here’s how you can earn points with the Costco Anywhere Business Visa:
- Enjoy 4% rebate on eligible natural gas (including gas from Costco) worldwide (then 1%) on the first $7,000 of eligible natural gas and electric vehicle charging purchases per year. Gasoline or fuel for non-auto use purchased at large supermarkets, convenience stores and warehouse clubs outside of Costco is not eligible and only earns 1%.
- Get 3% back on purchases at restaurants and qualifying travel worldwide. Purchases made at bakeries and certain restaurants/cafés within department stores, grocery stores or warehouse clubs are not included and only earn 1%. Qualifying travel purchases include air tickets, hotels, car rentals, travel agencies, cruise lines and Costco Travel.
- Get 2% back on all other purchases from Costco and Costco.com.
- All other purchases receive 1% back.
Related: 9 Reasons to Get a Business Credit Card
Redeem cash back at Costco Anywhere Visa
this Costco Anywhere Visa Business Card Receive cash back rewards, but these rewards are only awarded once a year. After your February statement ends, you’ll receive a credit card rewards certificate that calculates your Costco Cash Rewards balance based on purchases shown on your statement from January through December of the previous year.
Please note that if your annual award amount exceeds $10,000, your award may be provided in another form, such as by check or electronic transfer.
You must then redeem your Credit Card Rewards Certificate in person at any U.S. Costco warehouse (including Puerto Rico) by December 31 of the year the certificate is issued. You can redeem your certificates for merchandise or cash back. If you redeem an item and the purchase amount is less than the value of the gift certificate, you will receive the balance in cash at checkout.
If your reward is less than $1, or if you close your account before your Credit Card Rewards Certificate is mailed, you will not receive a Credit Card Rewards Certificate. You must maintain a Costco membership to redeem a credit card rewards certificate. Additionally, some warehouses may not allow redemption of credit card rewards coupons for alcohol purchases.
Related: Cash Back & Travel Rewards
Which cards compete with Costco Anywhere Visa Business?
If you’re looking for a cash back business credit card, there are several cards that can go with Costco Anywhere Visa Business Card. The best card for your business depends primarily on the categories in which your business spends the most. Also note that Costco warehouses only accept Visa credit cards. Here are some other cards to consider:
For other options, check out our complete lists of the best business cash back credit cards and the best store credit cards .
Is the Costco Anywhere Visa Business Worth It?
If you are a business owner, have a Costco membership, and shop at Costco regularly, the Costco Anywhere Visa Business is worth considering. It has a solid rewards structure that covers many purchases, including gas, restaurants, travel and Costco. However, you will be limited in how you can redeem your cash back, so if you want more flexibility, you may be better suited with another card.
bottom line
The Costco Anywhere Visa Business Card is a cash back rewards business credit card available only to Costco members. Cash back rewards are only given out once a year, and you have to visit a U.S. warehouse location (including one in Puerto Rico) to receive the rewards – which can be frustrating for some businesses who want to earn rewards more frequently.
However, if your business can get value from a Costco membership and would rather earn cash back rewards, it might be worth adding the Costco Anywhere Visa Business Card to your wallet. This card is convenient if you’re already a Costco member and your business typically incurs significant expenses related to gas, restaurants, travel, or Costco purchases.
Apply here: Citi Costco Anywhere Visa Business Card
For the Capital One products listed on this page, some offers may be provided by Visa® or Mastercard® and may vary by product. Please see the appropriate benefits guide for details as terms and exclusions apply.