How Much in Costco Cash Rewards Can Members Earn in a Year?

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If you’re a Costco member, you know that the warehouse offers a lot of bang for your buck. But what if you also had the chance to get cash back? 

The by Citi® is a way to make that happen. Not only will you earn 2% on in-store and online Costco purchases, but you’ll also earn 4% on eligible gas and EV charging, up to $7,000 per year; 3% on restaurants and travel; and 1% on all other purchases.

The catch is that you can’t apply for the card unless you’re a Costco member. To find out if this card would be worth having in your wallet, see how much in Costco cash rewards you can earn in a year based on different spend amounts. 

$6,000 Annual Spend

If you spend $500 at Costco each month, it will total up to $6,000 annually. At the 2% rewards rate, you’ll earn $10 per month or $120 per year — just for doing your regular shopping at Costco. 

$9,000 Annual Spend

Spending $750 per month at Costco equals $9,000 per year. That means each month you’ll earn $15 in cash rewards, which totals up to $180 per year. 

$12,000 Annual Spend

A $12,000 annual spend would mean you spend $1,000 per month at Costco. That equals $20 in rewards per month or $240 annually. 

$15,000 Annual Spend

Spending $15,000 a year or $1,250 per month at Costco with the Costco Anywhere Visa Card would net you $25 per month or a total of $300 in rewards per year. 

$18,000 Annual Spend

If your Costco budget is $1,500 per month and you spend $18,000 per year, you’ll earn $30 in monthly cash rewards or $360 annually. 

$21,000 Annual Spend

A $21,000 annual spend, which equals $1,750 monthly, will net you $35 in cash-back rewards per month, which totals up to $420 per year. 

$24,000 Annual Spend

If you spend $2,000 per month or $24,000 per year at Costco, you’ll earn $40 per month or $480 per year in cash rewards. 

How Much You’ll Earn by Buying Gas at Costco

Another way you can earn Costco cash rewards at Costco is by filling up with gas at the warehouse club, which will earn you the top reward the Costco Anywhere Visa Card offers of 4%. However, the 4% reward limit only applies to the first $7,000 you spend on gas each year, which equals a maximum of $280 in cash-back rewards per year.

The 4% reward for gas is not exclusive to Costco. You can purchase your fuel at any gas station to earn cash back. However, you’ll only earn 1% rewards on gas purchased at superstores, supermarkets, convenience stores and warehouse clubs other than Costco.

What Other Benefits Does the Costco Anywhere Visa Card Offer?

The card doubles as your membership card, which makes it convenient. Additionally, no annual fee or foreign transaction fees apply with a paid Costco membership. You’ll also 3% cash back on restaurant purchases, including bars and fast food, and travel purchases, including airfare, car rental, hotels, Costco Travel, travel agencies and cruise lines. 

How To Redeem Cash Back From the Costco Anywhere Visa

All cash-back rewards you earn by using the Costco Anywhere Visa will be distributed once per year at the end of your February billing cycle. Rewards are issued as a credit card rewards certificate, unless they exceed $10,000, in which case Citi and Costco have the right to issue them in an alternative form, such as an electronic funds transfer or check. Credit card reward certificates must be redeemed by Dec. 31 in the year they are issued. They can be redeemed in a single transaction for Costco merchandise or cash back. If the merchandise you purchase doesn’t use the entire reward certificate, you will receive the remainder of the reward in cash, check or electronic transfer.

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