Costco offers two credit cards, and which one you get depends on your membership level
Costco issues the Costco Anywhere Visa Card and the Costco Cashback Visa Card through Citi. The Costco Anywhere card is available to all members. The Costco Cashback card is for Executive members only—those who pay the higher annual membership fee. Both cards earn cash back on Costco purchases and other spending, but the rates and benefits differ.
You do not need a Costco credit card to shop at Costco. A regular membership card works fine. The credit card is a separate choice that lets you earn rewards on what you already spend.
Both cards require you to be a Costco member before you can open an account. You cannot hold both cards at the same time—if you switch membership tiers, you would need to close one and open the other.
Key Takeaways
- The Costco Anywhere Visa Card earns 1% cash back on most purchases and 2% at Costco, while the Costco Cashback Visa Card earns 2% at Costco and 1% everywhere else, but requires an Executive membership.
- Both cards have no annual fee, but you must be a Costco member to hold one.
- Cash back is paid once a year as a Costco Shop Card that you can use when ready or let sit in your account.
- You can open a card account online through Costco.com or in a warehouse, and the card typically arrives within 7 to 10 business days.
- Both cards are Visa cards, so you can use them anywhere Visa is accepted, not just at Costco.
Comparing the two Costco cards side by side
| Feature | Costco Anywhere Visa | Costco Cashback Visa |
|---|---|---|
| Who can get it | Any Costco member | Executive members only |
| Annual fee | None | None |
| Cash back at Costco | 2% | 2% |
| Cash back on gas | 2% | 2% |
| Cash back everywhere else | 1% | 1% |
| Foreign transaction fees | None | None |
| Purchase protection | Yes | Yes |
The cash back rates are identical between the two cards. The real difference is the membership requirement. If you are already an Executive member, the Costco Cashback card makes sense. If you are a Gold Star member (the standard tier), you can only get the Costco Anywhere card.
Both cards waive foreign transaction fees, which matters if you travel internationally. Both also include purchase protection, meaning Citi will cover certain items against theft or damage for a limited time after purchase.
How to open a Costco credit card account
You can open an account online or in person at a warehouse. Online is faster if you have your membership number handy.
To open online: Go to Costco.com and look for the credit card section. You will need your membership number, Social Security number, and basic personal information. The process takes about 10 minutes. Citi will tell you whether you are approved when ready or will contact you within a few days. If approved, your card ships within 7 to 10 business days.
To open in a warehouse: Visit the membership desk and ask for a credit card process. A staff member can help you fill it out on the spot. You will still go through Citi's review process, but you can ask questions in person. The card still takes the same time to arrive by mail.
You do not need to set up the card in a special way. Once it arrives, you can use it when ready at any Visa merchant, including Costco. Your first statement will show up online or by mail depending on what you choose during setup.
Understanding how cash back works
Cash back is not paid to your card or your bank account. Instead, Citi issues it once a year as a Costco Shop Card—a prepaid card loaded with your rewards balance. This Shop Card arrives in the mail around February or March, depending on when your account opened.
You can use the Shop Card to buy anything at Costco, including groceries, gas, and merchandise. You can also let the balance sit in your account and use it over time. The Shop Card does not expire as long as your Costco membership is active.
If you close your Costco membership, any unused Shop Card balance is forfeited. This is one reason to keep your membership active if you have earned rewards you have not spent yet.
Cash back is calculated on the previous calendar year. So rewards you earn in January through December are paid out the following February or March. You cannot cash out the Shop Card for money—it is only good at Costco.
What happens if you close your membership or switch tiers
If you cancel your Costco membership, your credit card account closes automatically. Citi will send you a notice, and you will no longer be able to use the card. Any unused Shop Card balance is lost.
If you downgrade from Executive to Gold Star membership, you must close the Costco Cashback card and open the Costco Anywhere card instead. You cannot hold the Executive card without an active Executive membership. Citi can help you switch, or you can close one and open the other yourself.
If you upgrade from Gold Star to Executive, you can keep your Costco Anywhere card or switch to the Costco Cashback card. There is no penalty for switching, but you will get a new card number and a new account.
Managing your account and paying your bill
You can pay your Costco credit card bill online through Citi's website or by phone. You can also set up automatic payments so the full balance or a minimum payment is paid on the due date each month.
Your statement arrives online or by mail, depending on your preference. You can change this in your account settings at any time. The due date is typically 25 days after your statement closes.
If you lose your card, call Citi when ready. They will cancel it and send a replacement within 7 to 10 business days. Your account number stays the same, so any automatic payments or recurring charges keep working.
The Costco credit card is a Visa card, so it works at any merchant that accepts Visa—not just Costco. You earn 1% cash back on non-Costco purchases, which is lower than some other cash back cards, but it is a benefit if you use the card for everyday spending.
Frequently Asked Questions
Can I use my Costco credit card outside of Costco?
Yes. Both Costco cards are Visa cards, so you can use them anywhere Visa is accepted. You earn 1% cash back on non-Costco purchases and 2% at Costco and Costco gas stations. You also earn 2% on some other categories like travel booked through Costco Travel.
What if I do not spend enough to earn much cash back?
There is no minimum spending requirement, and there is no annual fee on either card. If you earn $5 in cash back or $500, you get a Shop Card with that balance. Even light users come out ahead because the card costs nothing to hold.
Can I transfer my cash back to another card or bank account?
No. Cash back is issued only as a Costco Shop Card, which you can use only at Costco. You cannot convert it to cash or move it to another account. If you do not want to spend it at Costco, you can let it sit in your Shop Card account indefinitely as long as your membership stays active.
What if I have a question about my bill or rewards?
Contact Citi directly at the number on the back of your card or through their website. Costco membership staff can help you open an account, but they cannot access your billing or rewards information. Citi handles all account management.
Do I lose my rewards if I switch from one Costco card to the other?
No. Your Shop Card balance stays with you even if you close one card and open another. The rewards themselves are not tied to the card—they are tied to your Costco membership account. You will continue to earn and receive your annual Shop Card as long as you remain a member.