What the Costco Credit Card Is

The Costco Anywhere Visa Card is a rewards card issued by Costco and Visa that you can use at Costco warehouses, gas stations, and anywhere else that takes Visa. You do not need a Costco membership to get the card, but you do need one to shop at Costco itself. The card earns cash back on purchases — 2% at Costco warehouses and gas stations, 1% everywhere else — and the cash back is paid as an annual reward certificate you can use in-warehouse or online.

Costco also offers the Costco Anywhere Visa Card for American Express, which works the same way but runs through American Express instead of Visa. Not all Costco locations accept American Express, so check with your warehouse before explore for that version.

Key Takeaways

  • The Costco Visa card earns 2% cash back at Costco and Costco gas stations, and 1% everywhere else, paid once a year as a certificate.
  • There is an annual fee of $65 for the standard card and $130 for the American Express version, charged to your account each year.
  • You can use the card at any Visa merchant, but you need a Costco membership to shop in the warehouse and redeem your rewards certificate.
  • The card is issued by Costco and the card issuer, not by a third-party bank, so customer service goes through Costco's phone line.
  • Your cash back certificate arrives in the mail and expires one year from the issue date, so you must use it or lose it.

Annual Fee and When It Charges

The standard Costco Anywhere Visa Card costs $65 per year. The American Express version costs $130 per year. The fee is charged to your account on the date you open the card and then again on the same date each year after that.

If you close the card within 30 days of opening it, Costco will refund the annual fee. After 30 days, the fee is not refundable. If you want to cancel the card, call Costco's member services line — the number is on the back of your card — and they will process the cancellation and any refund you are due.

How Cash Back Rewards Work

Every purchase you make on the Costco card earns cash back at a set rate. At Costco warehouses and Costco gas stations, you earn 2% cash back. At all other merchants — restaurants, grocery stores, pharmacies, gas stations that are not Costco — you earn 1% cash back. There is no cap on how much cash back you can earn in a year.

Your cash back is not paid monthly or quarterly. Instead, Costco calculates your total cash back for the year and mails you a reward certificate once per year. The certificate shows the dollar amount you earned and the expiration date — one year from the issue date. You can use the certificate to pay for anything at Costco, including your membership renewal, but you cannot use it at Costco.com or at gas stations. If the certificate expires before you use it, the money is forfeited.

How to Open a Costco Credit Card Account

You can start the process online at Costco.com or in person at your warehouse. Online, go to the Costco credit card page, select the card you want (Visa or American Express), and fill in your personal information, income, and employment details. Costco and Visa will check your credit and give you a decision within minutes in most cases.

If you explore in person, a Costco employee at the membership desk can walk you through the process on a tablet or direct you to a kiosk. The process is the same as online, and you will get a decision the same way. If you are approved, your card will arrive in the mail within 7 to 10 business days.

You do not need to be a Costco member to open the card, but you will need a membership to use your rewards certificate and to shop in the warehouse. If you are not a member yet, you can join at the same time you explore for the card, or you can join later.

Activating Your Card and Setting Up Payments

When your card arrives, you must set up it before you can use it. Call the number on the back of the card or go to Costco.com and log into your account to set up it there. set up is when ready and takes less than a minute.

After set up, set up a way to pay your bill. You can pay online through Costco.com, by phone, by mail, or in person at the membership desk. Most cardholders set up automatic payments so the full balance is paid each month and no interest charges accrue. You can also pay just the minimum amount due, but any balance you carry will be charged interest at the card's annual percentage rate (APR), which varies based on your creditworthiness and current market rates.

Using Your Card at Costco and Beyond

At Costco warehouses, you must use your Costco credit card to check out — Costco does not accept other credit cards, debit cards, or cash. The only exceptions are American Express cards at warehouses that accept them, and Costco Cash cards (a separate prepaid product). This means if you want to shop at Costco with a credit card, the Costco card is your only option.

Outside Costco, your card works like any other Visa or American Express card. You can use it at restaurants, online retailers, gas stations, and anywhere else that takes Visa or American Express. You earn 1% cash back on these purchases. Keep in mind that some merchants do not accept Visa or American Express, so you may still need another payment method for those places.

What Happens If You Miss a Payment

If you do not pay your bill by the due date, Costco will charge you a late fee and report the late payment to the credit bureaus. A late payment can lower your credit score and make it harder to borrow money in the future. If you miss a payment, pay it as soon as you can.

If you are having trouble making payments, call the customer service number on the back of your card and ask about hardship options. Costco may be able to work with you on a payment plan or temporarily lower your interest rate, depending on your situation.

Frequently Asked Questions

Can I use the Costco credit card outside the warehouse?

Yes. The Visa version works anywhere Visa is accepted. The American Express version works anywhere American Express is accepted. You earn 1% cash back on purchases outside Costco and Costco gas stations. Inside the warehouse, you must use the Costco card — no other credit cards are accepted.

What if I do not use my rewards certificate before it expires?

The certificate expires one year from the issue date and cannot be replaced. Any unused balance is forfeited. Costco will mail you a reminder before the expiration date, but it is your responsibility to use the certificate before it expires. You can use it in person at any Costco warehouse or online at Costco.com.

Do I have to be a Costco member to get the card?

No, you can open the card without a membership. However, you will need a membership to shop in the warehouse and to redeem your rewards certificate. If you are not a member, you can join at the same time you explore for the card, or you can join later.

What is the interest rate on the Costco credit card?

The APR varies based on your credit score and current market conditions. Costco does not publish a fixed rate. When you explore, you will see the APR range you may receive. The exact rate will be shown in your account after approval. You can avoid interest charges by paying your full balance each month.

Can I cancel the card and get my annual fee back?

You can cancel within 30 days of opening the card and receive a full refund of the annual fee. After 30 days, the fee is not refundable. To cancel, call the customer service number on the back of your card.