Citi has launched a new card that is specifically made to benefit Costco members with lucrative cash back rewards. Citi Costco card has many intriguing cashback features that benefit Costco members in various ways.
Cash Back Rewards
There are four major cashback rewards that are available for various categories of purchases. Let us see them one by one to understand the rewards in a detailed manner.
A Costco member who holds a Citi Costco credit card under their name can avail of a whopping 4% of cashback for every purchase they make on fuel and gas. The 4% cashback remains eligible until the purchase value exceeds $7000.
Once the purchase value exceeds the threshold, the cashback rate is decreased from 4% to 1%. The 1% cashback rate will be applicable regardless of the purchase value. This is a lifetime cashback rate when you own a Citi Costco credit card.
However, the 4% cashback rate will be reset every year, which means every year, you will be able to receive a certain cashback rate until the purchase value exceeds $7000. This means you will be saving $280 per year and even more because of the unlimited 1% cashback rate.
The next category is restaurants and travel purchases. If you are using Citi’s Costco credit card, you will receive 3% of cashback of the total purchase value you spend on travel purchases and restaurants.
In simple words, this means that you will be saving 3 pennies for every dollar you are spending. This will help you save a lot of expenses on restaurants and travel purchases. You can spend your money on restaurants and expensive meals without worrying about the bill because 3% of your total expense will be rewarded back.
Additionally, if you like to purchase from Costco or Costco.com with Citi’s Costco credit card, you can save up to 2% of the total expense. There is no limit or threshold to how you should spend with a credit card. Using Citi’s Costco credit card, you will save two dollars for every hundred dollars you are spending at Costco and Costco.com.
Apart from the cashback rewards on gas, restaurants, travel, and purchases from Costco or Costco.com, you will receive 1% cash back on all the purchases you make using Citi’s Costco credit card. This will be extremely useful for people who like to save. This helps you to save your money while you are spending.
Citi’s Costco credit card is available for people who have Costco membership. There is no way to get a Costco credit card without having a Costco membership. Costco credit card is made to benefit Costco members only.
If you don’t have a Costco membership, but you still want to get the Costco credit because of its lucrative benefits, you can apply for the membership before applying for the credit card. Once you get the membership and become a member, you can easily apply for Citi’s Costco credit card and avail its benefits.
Once you have become a Costco member and received the Costco credit card, you will be eligible for fee-free service. There is no annual fee for Costco members on Costco credit cards. There are other advantages for Costco members, which include no foreign transaction fees.
Most credit cards give lucrative cash back rewards and charge the same percentage in foreign transactions. But Citi’s Costco credit card offers you both cash back rewards and charges none for foreign transactions. If you are traveling around the world, there is no best credit card than Citi’s Costco credit card.
The purchase rate is 17.49% which is not fixed. The APR varies on various things, which include the market conditions and prime rate.
Costco credit card allows you to speed up your checkout process with their digital wallets. These digital wallets give you the convenience of shopping from millions of online stores and websites. The best thing about Citi’s Costco credit card is the processing speed. You can check your payout almost instantly.
Citi Costco credit card has multiple anti-theft protections which keep your credit card safe. Also, if you have your credit card stolen or damaged while making a purchase within the first 120 days from getting the card, all the repairs and refunds are covered by the company. If you are a New York resident, the damage and theft protection lasts for only 90 days from purchase.
Citi Costco has many attractive features that are in the best interest of the users. With the Costco credit card, you can get tickets for thousands of events with ease. Even presale tickets can be bought with the help of Citi Entertainment which can be accessed with the Citi Costco credit card.
FAQs on Citi’s Costco Anywhere VISA Card
What are the benefits of having a Costco Anywhere VISA Card by Citi?
These are some of the benefits of having a Costco Anywhere VISA card by Citi:
● You can enjoy traveling around the world and spending using a Costco credit card without any foreign transaction fee.
● Each year, the cardholder will get 4% cashback on spending for gas and fuel up to the purchase value of $7000. After that, a default 1% cashback is applicable for all purchases.
● You can enjoy 3% cashback on all the expenses on restaurants and traveling. Another 2% cashback on the purchases made on Costco and Costco.com.
Can anyone apply for Citi’s Costco credit card?
Only Costco members can apply for Citi’s Costco credit card. However, anyone can become a Costco member by applying for membership. Once the membership has been accepted, they can apply for Citi’s Costco credit card.
Is Citi Costco card Visa or Mastercard?
Citi Costco credit card is a Visa card. You can win 1% cashback on all the purchases you make.
Does the Citi Costco card have an annual fee?
No, there is no annual charge to maintain your credit card. Once you have become a member of Costco, the credit card comes for free with no extra charges.