The Costco Anywhere Visa Card gives you cash back on purchases, warehouse discounts, and travel protections — but only if you're a Costco member

The Costco Anywhere Visa Card is a co-branded credit card issued by Citi that works at Costco warehouses and anywhere Visa is accepted. The card's main draw is cash back: you earn 2% back on Costco purchases (gas and travel included), 1% on everything else. You also get access to Costco's member-only prices and warehouse services. The catch is real — you must hold a Costco membership to use the card, and the annual membership fee ($65 for Gold Star, $130 for Executive) is separate from any card annual fee.

This card makes sense if you already shop at Costco regularly and want to earn cash back on those purchases. It makes less sense if you're only considering Costco membership to get the card, because the membership itself costs money upfront. The card has no annual fee, which is unusual for a premium card and worth noting.

Key Takeaways

  • You earn 2% cash back on all Costco purchases (including gas and travel booked through Costco) and 1% on all other purchases, with no cap on rewards.
  • The card requires an active Costco membership, and you pay the membership fee separately from the card itself.
  • The card includes travel protections like trip cancellation insurance and emergency medical and dental coverage abroad, which can save you money on travel insurance.
  • Cash back rewards post to your Costco account as an annual statement credit, not as a separate deposit, so you use them at the warehouse or online.

How the cash back actually works and when you receive it

Cash back on the Costco Anywhere Visa Card is not deposited into your bank account. Instead, Citi calculates your total rewards once per year and posts a statement credit to your Costco account. You then use that credit when you shop at Costco warehouses or on Costco.com. This means you cannot transfer rewards to another account, redeem them for travel, or convert them to points in another program.

The 2% rate applies to all Costco purchases — gas, groceries, pharmacy, optical, and travel bookings made through Costco Travel. The 1% rate applies to everything else: restaurants, groceries outside Costco, utilities, online shopping at other retailers. There is no annual cap on rewards, so the more you spend, the more you earn. A household that spends $10,000 per year at Costco earns $200 in cash back; one that spends $25,000 earns $500.

Travel protections and what they actually cover

The card includes several travel-related protections that come at no extra cost. Trip cancellation and interruption insurance reimburses you if you have to cancel or cut short a trip due to illness, injury, or death of a family member — up to $10,000 per person. Emergency medical and dental coverage pays for necessary treatment while you're traveling outside the United States, up to $250,000 for medical and $500 for dental. Lost luggage reimbursement covers baggage delayed more than 12 hours, up to $2,500.

These protections have limits and exclusions. Trip cancellation insurance does not cover pre-existing conditions unless you buy the card within 14 days of your initial trip deposit. Emergency medical coverage applies only to treatment needed during travel, not routine care. You must file claims with Citi within a set window (usually 90 days) and provide documentation — receipts, medical records, airline confirmations. Read the full terms before you travel, because what counts as a covered reason varies.

Costco membership requirements and how they affect your card

You cannot open a Costco Anywhere Visa Card without an active Costco membership, and you cannot keep the card if your membership lapses. Costco membership tiers are Gold Star ($65 per year), Executive ($130 per year), and Business (separate pricing). The card works with any membership level, but Executive members get an additional 2% cash back on Costco purchases — so they earn 4% instead of 2% at the warehouse.

If your membership expires, Citi will close the card automatically. If you let it lapse and then renew, you can reapply for the card, but there is a waiting period. This matters if you're thinking about downgrading to a lower membership tier or taking a break from Costco — you'll lose the card in the process. The membership fee is not waived or reduced if you hold the card.

How the card compares to other cash back cards

The Costco card's 2% rate at Costco is competitive, but it's not the highest cash back available. Some general cash back cards offer 2% on all purchases with no membership required. The Costco card's advantage is that it combines warehouse shopping benefits with the card itself — you're earning rewards while you shop at a place you're already paying to access. For someone who spends $5,000 or more per year at Costco, the card's rewards often exceed the membership fee.

The card's travel protections are a secondary benefit. Many premium cards offer similar or better coverage, but they charge annual fees of $95 to $550. The Costco card has no annual fee, which makes the protections genuinely free. However, if you rarely travel or already have travel insurance through your employer or another card, these protections may not matter to you.

What happens if you close the card or your membership ends

If you close the Costco Anywhere Visa Card, any unused cash back rewards are forfeited — they do not convert to a statement credit or transfer to another account. This is different from many other cash back cards, where you can redeem rewards even after closing. Plan to use your annual rewards before you cancel the card if you want to get value from them.

If your Costco membership expires, Citi closes the card automatically. You can renew your membership and reapply for the card, but there may be a waiting period before you're may be able to access again. If you're considering downgrading your membership or taking a break from Costco, factor in that you'll lose the card and any pending rewards.

Frequently Asked Questions

Can I use the Costco card outside of Costco?

Yes. The card works anywhere Visa is accepted and earns 1% cash back on non-Costco purchases. However, the rewards post to your Costco account, so you can only redeem them at Costco warehouses or Costco.com, not at other retailers.

Do I earn the same cash back rate if I shop on Costco.com?

Yes. Online purchases at Costco.com earn the same 2% cash back as in-warehouse purchases. The card also earns 2% on Costco Travel bookings made through the website.

What if I have an Executive membership — do I earn more?

Yes. Executive members earn an additional 2% cash back on Costco purchases, for a total of 4%. You still earn 1% on non-Costco purchases. The Executive membership costs $130 per year, so the extra rewards may offset that cost if you spend enough at Costco.

Can I transfer my cash back rewards to another credit card or bank account?

No. Rewards are posted as a statement credit to your Costco account and can only be used to pay for purchases at Costco warehouses or Costco.com. You cannot convert them to points, transfer them, or receive them as a deposit.