Advantages of the Costco Credit Card

Enjoy the advantages of the Costco Visa, including cash back and 0% APR introductory offer.

With a basic Costco membership fee of $60 per year, lots of free samples and discounts on everything from food to electronics, it’s easy to see why the wholesaler has 88 million members. One way to make your Costco purchases is by using the Costco Anywhere Visa Card, which gives customers attractive rewards. In fact, it’s considered one of the best credit cards for cash back. The card is just one reason why a Costco membership is more valuable than ever today.

How to Get Your Costco Credit Card and Start Earning

The Costco Visa card by Citi replaced the Costco American Express card in June 2016. This new card is easy to get and doesn’t have an annual fee, as the Costco membership cost is included. The Costco credit card also doubles as your membership card.

Follow these steps to apply for your Costco credit card:

  1. Decide whether you need a personal or business card.
  2. If you need a personal credit card, you’ll need to provide your Social Security number, date of birth, email address, physical address and total annual income.
  3. Should you want to apply for a business credit card, you’ll need information about the business, such as business address, tax ID and revenue, and some details about the intended authorized user, such as his Social Security number.
  4. Call 1-800-970-3019 or apply online at the Costco website.
  5. Wait up to four weeks for your card to be approved and mailed directly to your home or business.

Find Out: 20 Deals You Can Only Get at Costco

Store Perks Related to Your Costco Visa Card

With so many store perks, it’s likely you’ll quickly see how this Citi Visa is both the best rewards credit card and one of the top cash-back credit cards.

With this Costco card you’ll enjoy:

  • Annual cash-back rewards applied to your billing statement each February. The rewards can be redeemed for cash or merchandise at any Costco across the U.S.
  • 4 percent back on eligible gas purchases up to $7,000 each year with 1 percent back thereafter, as well as 1 percent back on non-qualifying gas purchases
  • 3 percent refund on restaurant and eligible travel purchases
  • 2 percent cash returns on items purchased from Costco or
  • 1 percent back on every other kind of purchase
  • A second membership card

Also See: Best Store Credit Cards

Additional Benefits Associated With Your Costco Citi Visa

There are a few other advantages to using your Costco Visa card; here are the benefits that aren’t store-specific:

  • 0% APR for first seven months: You will be able to make purchases for seven months without worrying about interest charges.
  • Damage and theft purchase protection: The card comes with 120 days of protection — 90 days if you live in New York — for all purchases. If the item you bought was stolen or damaged during that time frame, you’ll be covered for a repair or refund.
  • Extended warranty: The card adds to any existing manufacturer’s warranty on purchased items.
  • Travel protection: When you book a trip using your Citi Visa, you will enjoy travel protection on things like car rental insurance, emergency assistance and last-minute cancellations.
  • Citi Price Rewind: If the same item you bought is available for cheaper somewhere else within 60 days of your purchase, the difference in price will be credited to you.

Also See: Yes, You Actually Can Shop at Costco for 1 — Here’s How

The Costco credit card is good for consumers who shop at Costco, as the card is only issued to active Costco members. A $37 late payment fee applies, but this won’t be a problem if you make your monthly payments on time.

The Costco card’s 16.24% APR is excellent compared to some other store cards. For example, the Target REDcard and the Walmart credit card both charge 23.65% APR.