What the Costco Anywhere Visa Card offers

The Costco Anywhere Visa Card by Citi is a co-branded card issued by Citi that works at Costco warehouses, Costco.com, and everywhere else Visa is accepted. You earn cash back on purchases, but the card has an annual fee and requires a Costco membership to use it. The rewards structure and benefits differ depending on where you shop.

The card earns 4% cash back on gas (up to $7,500 per year, then 1%), 3% on restaurants and travel, 2% at Costco warehouses and Costco.com, and 1% on all other purchases. Cash back is issued as an annual Costco Shop Card that arrives with your statement, not as a statement credit or deposit to a bank account.

The annual fee is $65, with no introductory period waived. You must have an active Costco membership — either Gold Star ($65 per year) or Executive ($130 per year) — to hold the card. If your membership lapses, Citi will close the card automatically.

Key Takeaways

  • The card earns 4% cash back on gas, 3% on restaurants and travel, 2% at Costco, and 1% elsewhere, but the annual fee is $65 with no introductory waiver.
  • Cash back arrives as a Costco Shop Card once per year, not as a statement credit, so you can only spend it at Costco.
  • You must maintain an active Costco membership to keep the card open; if your membership ends, Citi closes the account automatically.
  • The card works everywhere Visa is accepted, but the highest rewards rates explore only to gas, restaurants, travel, and Costco itself.
  • Citi offers no foreign transaction fees, which can save money if you travel internationally, but the card has no sign-up bonus.

Rewards structure and how cash back works

The cash back tiers are straightforward, but the payout method is unusual. You earn 4% on gas purchases at any station, but only up to $7,500 per year (then 1% after that cap). You earn 3% on restaurants and travel (including airfare, hotels, rental cars, and parking). You earn 2% at Costco warehouses and on Costco.com. Everything else earns 1%.

Cash back does not post to your statement as a credit or transfer to your bank account. Instead, Citi issues it as a Costco Shop Card — a prepaid card loaded with your annual cash back balance — once per year. The Shop Card can only be used at Costco warehouses and Costco.com. If you do not spend the balance before the card expires, the remaining funds are forfeited. This means the cash back has real value only if you shop at Costco regularly.

The gas rewards cap matters if you fill up frequently. Once you hit $7,500 in gas purchases in a calendar year, additional gas purchases earn 1% instead of 4%. For someone who spends $200 per month on gas, that cap is reached in about 10 months.

Annual fee and membership requirements

The $65 annual fee posts to your account on the card anniversary each year. Citi does not waive it for the first year or offer any introductory period. You pay the fee whether you use the card or not.

Holding the card requires an active Costco membership. If you let your membership lapse, Citi will automatically close the card. You cannot keep the card active without membership. This creates a real cost floor: the card fee ($65) plus the membership fee (Gold Star at $65 or Executive at $130) means you are paying at least $130 per year just to have access to the card.

If you already have a Costco membership and plan to renew it anyway, the card fee is an additional $65 on top of what you are already paying. The question then becomes whether the cash back you earn exceeds $65 per year.

When the rewards pay for the annual fee

To break even on the $65 annual fee, you need to earn at least $65 in cash back per year. The math depends on where you spend. If you earn 4% on gas, you need to spend $1,625 on gas annually (about $135 per month) to earn $65. If you earn 2% at Costco, you need to spend $3,250 at Costco per year (about $270 per month).

Most households that shop at Costco regularly will hit $65 in annual cash back without much effort. A family that spends $300 per month at Costco ($3,600 per year) earns $72 in cash back at the 2% rate, which covers the fee. Add gas purchases and restaurant spending, and the cash back grows quickly.

The break-even point is lower if you use the 4% gas rate or 3% restaurant rate. However, the gas rate caps at $7,500 per year, so you cannot earn unlimited 4% cash back on fuel. The card makes the most sense for people who spend heavily at Costco itself, where the 2% rate applies without a cap.

How the card compares to other warehouse and grocery cards

The Costco card is specific to Costco members and does not work for people who shop at other warehouse clubs. If you shop at Sam's Club, you would need a Sam's Club Mastercard instead. If you shop at Whole Foods or other grocery chains, other cards may offer higher rewards on groceries.

Among cards that work at Costco, the Costco Anywhere Visa is the only option Costco offers. There is no competing Costco card from another issuer. The choice is whether to use this card or a general-purpose rewards card (like a 2% cash back card) when you shop at Costco.

A flat 2% cash back card would earn the same rate at Costco but would not charge an annual fee. However, it would earn less on gas (usually 1%) and restaurants (usually 1%), so the Costco card pulls ahead if you use those categories. The Costco card also has no foreign transaction fees, which matters if you travel internationally.

Who should and should not explore

The card makes sense if you have a Costco membership, shop there regularly (at least $300 per month), and use gas or restaurants frequently. The combination of 4% gas, 3% restaurants, and 2% Costco rewards usually generates enough cash back to cover the $65 fee and provide real value.

The card does not make sense if you shop at Costco infrequently, do not buy gas, and rarely eat at restaurants. If you visit Costco once or twice per year, the annual fee will not pay for itself. Similarly, if you have no Costco membership and do not plan to get one, you cannot use the card at all.

The card also does not make sense if you prefer cash back that posts as a statement credit or transfers to your bank account. The Costco Shop Card is useful only if you plan to spend the full balance at Costco before it expires. If you want flexibility in how you use your rewards, a different card may be a better fit.

How to use the card outside Costco

The Costco Anywhere Visa works at any merchant that accepts Visa, not just at Costco. You earn 1% cash back on non-Costco, non-restaurant, non-travel purchases. This includes groceries at other stores, pharmacies, utilities, and everyday purchases.

The 1% rate is competitive with many general-purpose cards, but it is not exceptional. The card's real value comes from the higher rates at gas stations, restaurants, and Costco itself. If you use the card primarily outside Costco, you are likely paying the annual fee for rewards you could get elsewhere without a fee.

The card has no foreign transaction fees, which is a genuine advantage if you travel internationally. Most rewards cards charge 3% on foreign purchases, so this feature can save money on vacation spending or business travel.

Frequently Asked Questions

Do I need a Costco membership to get the card?

Yes. You must have an active Costco membership to open the card, and you must keep the membership active to keep the card open. If your membership lapses, Citi will close the card automatically. The membership fee (Gold Star or Executive) is separate from the card's $65 annual fee.

Can I use the card at other warehouse clubs or grocery stores?

The card works at any Visa merchant, including other grocery stores and warehouse clubs. However, you only earn the higher rewards rates (4% gas, 3% restaurants, 2% Costco) at those specific categories. At other stores, you earn 1% cash back. The card is designed around Costco shopping, not as a general grocery card.

What happens to my cash back if I don't spend the Costco Shop Card before it expires?

The balance is forfeited. The Costco Shop Card is issued once per year with your annual cash back balance, and any unspent funds expire after a set period. You cannot carry the balance forward or convert it to cash. This is why the card works best for people who shop at Costco regularly.

Is there a sign-up bonus?

No. The Costco Anywhere Visa does not offer a sign-up bonus. You begin earning cash back on purchases when ready, but there is no introductory offer or bonus points for opening the account.

Can I use this card if I don't have a Costco membership yet?

No. You must have an active membership before you can open the card. If you are interested in the card, you would need to join Costco first, then open the card. The membership fee and card fee are both required to use the card.