Advantages of the Costco Credit Card

dean bertoncelj / dean bertoncelj

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:

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:

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.