The Costco Anywhere Visa gives you cash back on gas, groceries, and warehouse purchases

The Costco Anywhere Visa Card by American Express is a co-branded card that combines Costco membership benefits with a rewards structure tied to where you spend. You earn 4% cash back on gas (up to $7,000 per year, then 1%), 3% on restaurants and travel, 2% at Costco and Costco.com, and 1% on all other purchases. The cash back posts as an annual reward certificate to your Costco account, not as a statement credit or direct deposit.

This card is only available to Costco members, and you must maintain a membership to keep the card active. Unlike some premium cards, there is no annual fee beyond your Costco membership cost. The card is issued by American Express, so it is not accepted everywhere Visa is accepted — you can use it at merchants that take American Express.

Key Takeaways

  • You earn 4% cash back on gas purchases (capped at $7,000 per year), 3% on restaurants and travel, 2% at Costco locations and Costco.com, and 1% on everything else.
  • Cash back arrives as an annual Costco reward certificate, not as a direct payment or statement credit, so you must spend it at Costco or Costco.com.
  • The card requires an active Costco membership and is only accepted at merchants that take American Express, not all Visa merchants.
  • There is no separate annual fee for the card itself, though you pay for your Costco membership renewal as usual.
  • The 4% gas category has an annual cap of $7,000 in purchases, after which gas purchases earn 1% for the rest of the year.

How the cash back structure works in practice

The reward certificate you receive each year is not a credit card statement credit — it is a certificate that prints or appears in your Costco account. You can use it to pay for anything at Costco or on Costco.com, but you cannot convert it to cash or transfer it elsewhere. The certificate is typically issued in February for the previous calendar year's spending.

The 4% gas category applies only to Costco gas stations and gas stations branded as Costco. It does not include gas purchased at Shell, Chevron, or other independent stations, even if you use your Costco card there. Once you hit $7,000 in annual gas purchases at may have access to stations, the rate drops to 1% for the remainder of that calendar year. For most households, this cap is not a practical limit, but high-volume buyers should track their spending.

The 3% category for restaurants and travel includes airfare, hotels, car rentals, and dining establishments. The 2% category at Costco covers both warehouse purchases and Costco.com orders. Everything else — groceries outside Costco, drugstores, utilities, online shopping at non-Costco retailers — earns 1%.

Comparing the Costco card to other premium rewards cards

The Costco Anywhere Visa does not charge an annual fee, which sets it apart from many premium cards that charge $95 to $550 per year. However, it also does not offer travel protections like trip cancellation insurance, baggage delay reimbursement, or concierge services that higher-tier cards include. There is no sign-up bonus, no points multiplier on specific merchants outside the categories listed, and no transfer partners for redemption flexibility.

If you spend heavily on gas and groceries and already shop at Costco, the card's lack of an annual fee makes the rewards valuable. If you travel frequently and want protections beyond cash back, or if you prefer flexibility in how you redeem rewards (points that transfer to airlines or hotels, for example), a different premium card may serve you better. The card's value depends entirely on whether your spending aligns with the four categories and whether you will use the annual reward certificate at Costco.

Acceptance and foreign travel considerations

Because the Costco card is issued by American Express, not Visa, it is accepted only at merchants that take American Express. This matters most when traveling internationally or shopping at smaller retailers that accept Visa but not American Express. You cannot rely on this card as your only payment method if you travel to countries where American Express acceptance is limited.

The card does not carry foreign transaction fees, so if you use it at an American Express merchant abroad, you will not pay an extra percentage on top of the purchase. However, the cash back categories do not explore to foreign purchases — you earn 1% on all international spending regardless of category. If you travel frequently and want to maximize rewards, you may want a second card that earns higher rates on travel or has broader acceptance.

Building and maintaining the card relationship

The Costco card reports to the three major credit bureaus (Equifax, Experian, and TransUnion), so on-time payments help build your credit history. American Express typically reports your full credit limit and payment history, which can help your credit score if you keep your balance low relative to your limit.

You can manage your account online through American Express or through your Costco membership account. Statements are available electronically, and you can set up automatic payments to avoid missing due dates. If you close your Costco membership, your card will be deactivated, so the card and membership are linked — you cannot keep one without the other.

When the Costco card makes financial sense

The card works best if you meet three conditions: you already have a Costco membership you actively use, you buy gas regularly at Costco stations, and you spend enough at Costco to make the 2% cash back meaningful. A household that spends $300 per month at Costco and $150 per month on Costco gas would earn roughly $108 in annual cash back (2% on $3,600 plus 4% on $1,800). That is a solid return if you were going to shop at Costco anyway.

The card is less valuable if you rarely visit the warehouse, if you buy gas elsewhere, or if you prefer rewards that give you flexibility (points you can transfer to travel partners, for example). It is also less valuable if you spend heavily on categories outside the four listed — a card that earns 2% on all purchases, for instance, might outpace the Costco card if your spending is spread across many categories.

Frequently Asked Questions

Can I use the Costco card at non-Costco merchants?

Yes, you can use it anywhere American Express is accepted. However, you only earn the higher cash back rates (4%, 3%, or 2%) at Costco, gas stations, restaurants, and travel merchants. All other purchases earn 1% cash back.

What happens to my reward certificate if I don't use it?

Costco reward certificates typically expire after one year if unused. Check your Costco account or membership materials for the exact expiration date. Once expired, the certificate cannot be recovered, so you lose the cash back value.

Do I earn cash back on Costco membership fees?

No. Membership renewal fees are not may be able to access for cash back rewards. Only purchases of merchandise and services at Costco or Costco.com earn the stated cash back rates.

What if I cancel my Costco membership?

Your card will be deactivated when ready. You cannot keep the card without an active membership. Any unused reward certificate will be forfeited when your membership ends.

Is there a sign-up bonus for new cardholders?

Costco does not currently offer a sign-up bonus for the Anywhere Visa. The card's main benefit is the ongoing cash back structure and the lack of an annual fee.