What the Citi Costco Credit Card does

The Citi Costco Anywhere Visa Card is a rewards card issued by Citi and Costco that gives you cash back on purchases at Costco, gas stations, restaurants, and travel. You earn 2% cash back at Costco warehouses and Costco.com, 1% at gas stations (up to $7,500 per year, then 0%), 1% at restaurants, and 1% on all other purchases. The card has an annual fee of $65, which Costco members pay when they renew their membership or as a separate charge if they are not members.

The card is designed for people who shop at Costco regularly and want to earn rewards on those purchases plus everyday spending. Cash back posts to your Costco Cash account, which you can use at Costco warehouses or Costco.com. You cannot transfer cash back to a bank account or use it outside Costco.

Key Takeaways

  • You earn 2% cash back at Costco and Costco.com, 1% at gas stations and restaurants, and 1% on everything else.
  • The $65 annual fee is charged by Citi, separate from your Costco membership fee, unless you bundle it with membership renewal.
  • Cash back is paid as Costco Cash that you spend at Costco warehouses or online, not as a statement credit or bank deposit.
  • You must be a Costco member to open the card, and membership status is checked when you open the account and at renewal.
  • The card has no foreign transaction fees, which can save money if you travel and use it abroad.

Who can open this card and what you need

You must have a valid Costco membership to open the Citi Costco Anywhere Visa Card. Citi will verify your membership status during the process process. If your membership expires, you will not be able to renew the card unless you renew your Costco membership first.

To open the card, you will need to provide your Social Security number, date of birth, address, and income information. Citi will run a hard inquiry on your credit report, which may lower your credit score by a few points. You do not need to have perfect credit to open this card, but Citi typically approves people with fair credit or better.

The card is available only to U.S. residents. If you are a non-citizen, you may still open the card if you have a valid Social Security number and a U.S. address.

How to open the card and set up it

You can open the card online at Costco.com, in a Costco warehouse at the membership desk, or by phone. The online route is fastest — you will get a decision in seconds or minutes. In-warehouse applications take longer but let you ask questions in person.

Once Citi approves you, your card will arrive in the mail within 7 to 10 business days. When it arrives, you will need to set up it before you can use it. You can set up the card online through your Citi account, by phone, or by making a purchase. set up is when ready — there is no waiting period.

The $65 annual fee will post to your first statement. If you opened the card during a Costco membership renewal, the fee may be bundled with your membership renewal and charged to your Costco membership account instead of your credit card statement.

How cash back works and when you can use it

Cash back is not paid to your credit card statement or your bank account. Instead, it is deposited into your Costco Cash account as a certificate. You can see your Costco Cash balance on your Citi account online or ask at the Costco membership desk.

Costco Cash can be used to pay for anything at Costco warehouses or Costco.com — groceries, gas, pharmacy items, or the membership fee itself. You cannot use Costco Cash at other retailers, and you cannot withdraw it as cash. If you do not spend your Costco Cash before it expires, it is forfeited. Costco Cash typically expires one year after it is issued, though the exact date is printed on the certificate.

You earn cash back on the purchase date, not when the statement closes. If you return an item, the cash back for that purchase is reversed. If you dispute a charge and win, the cash back is also reversed.

Annual fee, interest rates, and other costs

The annual fee is $65 per year. There is no way to waive it, and Citi does not offer a trial period without the fee. The fee is charged on the anniversary of the day you opened the card each year.

The purchase APR (interest rate) varies by creditworthiness and is typically between 16% and 24%. If you carry a balance, you will pay interest on the unpaid amount each month. There is no introductory 0% APR period. The cash advance APR is higher and starts accruing interest when ready — there is no grace period for cash advances.

There are no foreign transaction fees, which means you can use the card internationally without paying an extra percentage on top of the exchange rate. However, Visa's exchange rate may be less favorable than your bank's rate on a different card.

How to pay your bill and manage your account

You can pay your Citi Costco card bill online through your Citi account, by phone, by mail, or in person at a Costco warehouse. The minimum payment is due 21 days after your statement closes. If you pay less than the full balance, interest will accrue on the remaining amount.

You can set up automatic payments through your Citi account so the full balance or a fixed amount is paid each month. Automatic payments reduce the risk of missing a due date and incurring a late fee. Late payments are reported to credit bureaus and can damage your credit score.

You can view your statement, update your address, set up alerts, and dispute charges through your Citi account online or through the Citi mobile app. If you lose your card or suspect fraud, call Citi when ready — the number is on the back of your card.

Comparing the Citi Costco card to other warehouse and grocery rewards cards

The main alternative is the American Express Costco Business Card, which is for Costco Business members only and offers 3% cash back at Costco, 2% at gas stations and restaurants, and 1% elsewhere. The American Express card has a $120 annual fee and pays cash back as a statement credit, not Costco Cash.

If you do not shop at Costco, other grocery rewards cards may offer higher cash back rates at supermarkets. The Kroger Rewards Visa offers 4% cash back at Kroger and Kroger-owned stores, but only 1% elsewhere. The Whole Foods card offers 5% cash back at Whole Foods but requires an Amazon Prime membership.

The Citi Costco card makes sense if you shop at Costco regularly and want to earn rewards on gas and restaurant spending too. If you shop at Costco only occasionally or prefer cash back that you can use anywhere, a different card may be better.

Frequently Asked Questions

Can I use Costco Cash to pay my credit card bill?

No. Costco Cash can only be used to buy items at Costco warehouses or Costco.com. You cannot use it to pay your Citi credit card bill. You must pay your bill with cash, check, bank transfer, or another payment method.

What happens to my card if my Costco membership expires?

Your card will stop working if your membership expires and you do not renew it. Citi checks your membership status periodically. You can renew your membership at any Costco warehouse or online at Costco.com, and your card will be reactivated within a few days.

Do I earn cash back on the annual fee?

No. The $65 annual fee does not earn cash back. Only purchases of goods and services earn rewards.

Can I transfer my Costco Cash to another person's account?

No. Costco Cash is tied to your membership account and cannot be transferred. If you want to give someone Costco Cash, you would need to use it to buy a Costco gift card, which they can then use.

What is the credit limit on the Citi Costco card?

Your credit limit depends on your credit score, income, and credit history. Citi does not publish a standard limit. You can ask Citi to increase your limit after you have had the card for several months and made on-time payments.