Costco Credit Card Review (Guide in 2018)

What is Costco Credit Card? The new world has experienced many changes in it and one of the changes is the payment system in the world. The new and advance payment system offers many benefits to the customers.

There are different companies and banks in the world which now offer credit cards to its customers. These credit cards make it easier for you to do things which were previously thought to be very difficult.

However, the offers and the benefits of the card are limited to the members of the card only. This card is issued by Citi Bank which further increases the reputation of the card.

This card gives you many cash back rewards and other benefits which cannot be offered by other cards. You can easily go big with all the offers and benefits of the card.

In short, you can go anywhere with this credit card. The complete details about the credit card are mentioned below which will further help you to make a mind about the credit card.

Costco Credit Card
Costco Credit Card

Costco credit card Apply

The application for the card is not difficult at all. They will need simple information from you mostly related to your banking history.

This information will help them decide whether you are eligible for this card or not. This may include a bit of your personal information but that will be protected by the company at all costs.

As they are offering many cards so, on the basis of this information they are also going to decide whether you are eligible and if eligible than which card suits your needs.

You can call on the number as well which is given below and send them an application for the Costco credit card.

Call to Apply 1-800-970-3019

You can enjoy the benefits all over the world using this card. One more thing, the benefits are not limited to your personal needs only, you can make business purchases as well and earn rewards and offers on them as well.

Cashback offers & benefits by Costco Credit card

The card also offers cash back services to all of its customers but that depends whether you are eligible for the cash backs or not. If you are eligible for the cash backs then this credit card is going to make your life easier than ever.

Cash backs on gas

Costco credit card provides cash back to its customers for their gas needs as well. These cash backs are not limited to any country, you can avail them at any part of the world.

The cash backs are given for the first $7,000 per year and then 1% afterward.

Cashback on restaurants and travels

This credit card is also offering cash backs to the customers on restaurants and travels as well. All the eligible tours and purchases made during that fall into the cash back category of the company.

The company will return you 4% for all the purchases made during the travel and all other purchases made on the restaurants.

Cash back from Costco and Costco.com

They will also give you cash back of 2% from all the purchases made by Costco and their online portal. Which means you can expect a discount on almost all the products which you are going to buy from their store or online portal.

Cashback on all purchases

They will also provide cash back to the customers on all purchases made anywhere in the world. This means you can use this card without any doubt anywhere in the world and expect rewards and returns from them at all costs.

All the cash backs rewards are provided as annual reward certificate to the customer once the billing cycle closes in February.

These cash backs and rewards of the company can easily be redeemed for cash as well. You can also redeem them for merchandise at the Costco warehouses across the country.

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In short, you can earn rewards from the company from all the places where the Visa card is accepted. They are not even charging an annual fee from the customers.

You can use this credit card by Costco free.

Some additional benefits of the card

There are many additional benefits of the card as well which can be used after becoming a member of the card. You can use this card easily anywhere in the world where visa card is accepted.

This card can also act as your ID. The card is specially designed for the members of the Costco and helps them in all the possible means.

Foreign transaction fee

There are many companies in the world which are charging foreign transaction fee as well. This card will not deduct any foreign transaction fee from its customers.

The card is not bound to one place; you can shop using this card anywhere in the world. The card is managed by Citi bank and it won’t charge any foreign transaction fee from its customers.

Types of Costco Credit card

There are two types of Costco credit cards which are issued by the company these days. These cards are named as;

  • Costco Anywhere Visa Card
  • Costco Anywhere Visa Business Card

Both cards have their own features and benefits which can be used by the members after signing up for the card.

The important information regarding the cards is shared below.

Costco Anywhere Visa Card

This credit card is issued by Citi bank. It offers some of the best features as far as the card is concerned.

APR of the card

The APR of most of the cards is variable but the APR of this card right now for the purchases is 16.99%. The same APR is also applicable for the balance transfers as well.

When it comes to the Standard APR of the cash advances is 26.99%. There are penalties as well which are applied to the customers when they pay their dues late.

The penalty APR is charged 29.99%. There is a minimum interest charge as well which $0.50 is. As we mentioned above as well that there are no foreign fees for the foreign purchases.

Cash Advance Fee

There is cash advance fee as well for the card which is $10 or 5% of the amount which is cash advance. The amount which is greater is deducted from the account as the fee.

Balance transfer fee

They have a balance transfer fee as well. The balance transfer fee of the company is $5 or 3% of the amount of each transfer from the card. The amount which is greater is deducted as the fee of the balance transfer.

Annual fee

If the annual membership of Costco is paid then no annual fee is deducted from the cardholder. There are some other terms and conditions which come into play when we talk about the annual fee of the card.

Some limitations are also imposed on the cardholders and they need to look at them before deciding the annual fee of the card.

The complete information regarding all these issues is provided once you apply for the card formally.

All the rates which are mentioned above are also variable and may change so you can check the latest from their official portal.

Costco Anywhere Visa Business Card

The second card issued by the company mostly suits the business needs of the customers.

APR of the card

The APR of the business card is variable but the standard variable APR of the card for all the a purchase is 16.99%.

The APR for the cash advances is different and you need to pay 23.74%. If you don’t pay the APR on time then they also impose a penalty on you which is up to 29.99%.

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Minimum Interest Charge

They also have minimum interest charge as well which is $0.50. There is no fee for the foreign purchases which makes it a good choice for the traveling as well.

Fee for Cash Advance

There is cash advance fee as well which is either 5% or $10 for the amount of each cash advance. Whichever amount is greater is deducted from their account.

Annual fee

There is no annual fee for the customers if they have paid the Costco membership. These things are mostly subjected to the approval of the credit card as well.

There are some terms and conditions which are additional and you can read about them when you apply for the card.

Auto Bill of membership

The membership is automatically charged from the customers when their applications are accepted. You can also choose the payment method of your own and cancel the payments from your Costco memberships.

If you don’t choose any other way and the day of renewing reaches the amount will be automatically deducted from the account.

The membership and all other fees are charged depending on the packages the customers are using. You can visit their official portal for more information or call the number which is given below.

1-800-774-2678

Terms and conditions for rewards

All the cash backs and rewards are given to the customers based on their purchases made from the Costco credit card which is issued by Citi bank. The purchases made at the Costco warehouses and other stores including Puerto Rico fall into this category.

Non-qualifying purchases

Some purchases don’t qualify for the rewards and other offers of the card. The gas which is purchased from superstores, convenience stores, supermarkets, warehouses and other places will not be given 4% cash back. They are only eligible for 1% cash back.

Any other fuel or gas which is bought for the non-automobile purpose is also not qualified for the rewards.

3% cash back is given in all the restaurants and the cafes as well. The same is the rate for the travel and the purchases made during that travel.

If you are making purchases at bakeries or any other restaurant or café inside some warehouse, grocery club or department stores, that won’t be qualified for the rewards and offers of the Costco.

There is a proper classification of all the members and retailers which are eligible and which all are not eligible for the services. You can check them in detail once you are signing up for an account of the company.

Non-qualified purchases

There are some purchases which don’t qualify for the rewards and cash backs from the company.

The usages of all the checks which are accessed from your account are not eligible for these rewards.

All the balance transfers are not part of any offer or redeeming.

The cash advances also don’t qualify for this.

All the purchases which are made using foreign currency, money order, similar cash like transactions, wire transfers and other traveler checks are not eligible for these cash backs and rewards.

All the gaming chips, lottery tickets, and betting transactions are not eligible for the cash backs.

All the account fees and the interests are also not eligible for the cash backs.

All the items which are returned from credit or any other unauthorized charges also don’t qualify for this.

All the returns also don’t come to the cash backs.

Redeeming of the cash backs and rewards

All the rewards of the company are distributed to the clients on annual basis. They are given to the customers in the form of reward certificate.

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Closure of the account

All the accounts which are closed by the company are not eligible for any reward or cash back by the company. If you converted your account before getting the reward then it is fortified to the next account.

The rewards and other cash backs have no real value in the market unless they are redeemed at the Costco stores around the country.

The customers of the company have no property rights over all the cash back rewards which are given to them by the company.

These cash backs and the rewards cannot be transferred to any other person. They are non-transferable and cannot be inherited or given to someone after divorce or any other such thing.

Changes to the rules

The company has the full right to make any changes to the programs and rules and regulations of the company that too without giving any notice to the customers.

If there is some change which is affecting the rewards of the customers then a notice is sent to them 30 days prior to the change.

Fraud protection

The company has the right to take action against you if any fraud against you is proved anywhere in the world. They can take serious actions against you as well which are given below.

They will take away all the rewards and cash backs from you.

They can prevent your account from any future rewards.

The company can close your account as well.

They have the right to take legal action against you as well.

Costco credit card login

After your application is approved by the company a login address is given to each member of the company. This log-in address of the user is actually a place from where they can manage their account completely.

They have the right to change the personal information as well which they provided to the company at first.

They can keep an eye on all the transactions as well which are made using their account. They can check for the new rewards and other cash back programs which are started by the company.

They can also make different payments as well using this log-in address of the company.

In short, this online resource of the company is a place from where they can take mini statements as well and manage their account the way they want to.

They don’t have to visit their office of the company again and again for small changes in their account. They can perform such tasks directly from their account while sitting at home.

They can access their account using a tablet and mobile phone as well.

Costco credit card offers different options when it comes to payment. You can make payment to them using MasterCard and many other sources as well.

They also accept Visa cards as well. They are also accepting cash, checks, ATM, debit cards and Electronic Benefits Transfer and Costco Cash cards.

Conclusion

Now you have a complete idea about the Costco credit card and how it works. It is issued by a renowned bank which makes it a worthy card in the market.

It can give you some of the best offers and cash backs as well. The best thing about the card is that it is giving cash backs on almost all the purchases in the world.

They give you some best offers as well when it comes to travels and tours as well.

Your say

Have you ever used Costco credit card? If yes then do share your experience of using the Costco credit card with us. If you think some other card is giving even better options then mention that so we could share information about that as well.

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