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The information for the following product(s) has been collected independently by Business Insider: Costco Anywhere Visa® Business Card by Citi. The details for these products have not been reviewed or provided by the issuer.
Even for those who aren't loyal Costco shoppers, the Costco Anywhere Visa® Business Card by Citi may appeal to anyone who spends a meaningful amount on gas, EV charging, dining, and travel each year. The card overperforms for a card that charges a $0 annual fee. For those looking for a general-use card, see our guide for the best small business credit cards.
$0
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20.49% Variable
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Excellent
- Generous bonus cash-back categories, especially for eligible gas purchases
- No annual fee (though you need to have a Costco membership)
- You can only redeem rewards once per year
- Not the best cash-back card if you don't shop at Costco
Costco Anywhere Visa Business Card Details
The Costco Anywhere Visa® Business Card by Citi is one of those rare store credit cards that you can use at locations other than the merchant printed on its face. To boot, this no-annual-fee credit card comes with some of the best return rates in its class. It earns:
- 4% cash back on eligible gas and EV charging purchases worldwide (up to $7,000 in spending per year, then 1%)
- 3% cash back at restaurants and for eligible travel purchases
- 2% cash back at Costco (in addition to any cash back you'll earn from your Costco membership)
- 1% cash back on all other eligible purchases
A big downside is that there's no publicly available sign-up bonus — but you may be able to get one anyway (I'll explain).
This is a small-business credit card, meaning you won't qualify unless you have a small business. Things like freelance writing, tutoring, and driving for a rideshare company can count, however. You don't need a proper LLC to open a business credit card.
Here's everything you need to know about the Costco Anywhere Visa® Business Card by Citi.
How to earn rewards with the Costco Business Card
The Costco Anywhere Business Card isn't captive to Costco stores and Costco.com. It's a Visa card that you can use anywhere — and its incentives are strong for a few everyday purchases.
The card unfortunately does not offer a welcome bonus publicly, but Costco members are occasionally targeted for a bonus when opening a Costco membership. If you begin to apply for the Costco Anywhere Business Card online and see no indication of a bonus, it could be worth heading to a Costco warehouse and inquiring.
Gas stations and EV charging
You'll receive 4% cash back on gas and EV charging purchases with this card on up to $7,000 in spending per year (then 1%). That earning rate tops the list in our guide to the best credit cards for gas purchases. If your primary motivation is cash back, this no-annual-fee card is difficult to beat.
If you purchase gas at any superstore, supermarket, convenience store, or warehouse club other than Costco — or if you purchase fuel used for non-automobile purchases — you'll only earn 1% back (instead of 4%).
Restaurants/travel
The card also accrues 3% cash back at restaurants and on eligible travel purchases. Again, these are some of the best returns among no-annual-fee credit cards — though you can receive significantly more value from your spending if you're willing to open a proper travel credit card like the Chase Sapphire Preferred® Card; it earns 3 points per dollar at restaurants, which translates to an effective 5.4% back in travel (per our estimations).
Eligible 3% travel purchases for the Costco Anywhere Business Card are limited to the following:
- Airfare
- Hotels
- Rental cars
- Cruises
- Travel agencies (including Costco Travel)
Costco purchases
The Costco Anywhere Business Card earns 2% cash back for Costco purchases. This combines with the earning rate you receive from a Costco Executive membership ($120 each year) which also earns 2% cash back on Costco purchases. In other words, Costco Executive members can earn 4% back with Costco if they have this card — or 5% back if they're making a purchase through Costco Travel.
A Costco Executive membership does not earn 2% at Costco gas stations or on an assortment of other products such as alcohol, tobacco, prescriptions, and Costco food courts.
All other eligible purchases
The Costco Anywhere Business Card earns 1% on any other purchase that doesn't fall into the above categories, with no cap.
How to use rewards from the Costco Visa Business card
Here are a couple of slight "gotchas" with this card:
- To redeem your cash back, you'll need to be inside a Costco warehouse
- The card only pays out once per year
Neither of these qualities is normal for a cash back credit card, and they're quite inconvenient.
In short, your rewards become available to you each year after your February billing statement closes. You'll receive a "reward certificate" valid for the amount of cash back you earned during the previous year. You can redeem this for either cash back or merchandise at a Costco warehouse.
If you redeem for merchandise amounting to less than the cash back you've earned, you'll receive the difference in cash at checkout. We recommend requesting cash back and then using your Costco card to purchase the merchandise you want, then using the cash back to pay off your bill. You'll earn more rewards this way.
Also, if you've earned more than $10,000 in cash back, you may receive your reward in the form of a check or electronic transfer.
Benefits and features
If you're looking for a benefits-rich credit card, this isn't it. However, its earning rates are complemented by a few useful benefits, such as:
- Extended warranty protection
- Damage and theft protection (stolen/damaged items purchased within 120 days may be refunded or covered for repair)
- Worldwide travel accident insurance
- Worldwide rental car insurance
If you're looking to make an expensive Costco purchase, such as a new TV or computer, you want to use a card that offers these purchase protections. The fact that the card will also offer a 2% return on these purchases is just icing on the cake.
The card also comes with peripheral benefits, such as:
- Citi Quick Lock: Instantly block new purchases/cash advances
- Citi Entertainment: Exclusive access for purchasing admission for thousands of events — including presale tickets
- Citi® Concierge: Access to help with travel, dining, shopping, entertainment, etc.
Authorized user cards are free with this no-annual-fee card — however, anyone who makes a Costco purchase must have a valid Costco membership. Costco membership starts at $60 per year.
The Costco Anywhere Business Card doesn't add foreign transaction fees, so it's a safe card to spend on when you're out of the country.
Fees and costs
Again, this card incurs no annual fee or foreign transaction fees. However, you will be charged an APR of 20.49% Variable if you carry a balance.
You'll also be charged fees for cash advances, late payments, and returned payments. Interestingly, this card does not seem to offer the option for balance transfers — so there are no balance transfer fees to speak of.
Costco Business credit card frequently asked questions (FAQ)
To be considered for the Costco Anywhere Visa® Business Card by Citi, you'll need an excellent credit score — that is, a FICO score of at least 800.
The Costco Anywhere Visa® Business Card by Citi is worthwhile for small-business owners who have expenses that match the card's bonus categories. It's particularly lucrative for those who spend a lot on gas, travel, and dining, as well as at Costco. However, because the card makes it a lot more difficult to redeem cash back compared to other rewards business cards, you should consider all the alternatives before applying.
Yes, you can use the Costco Anywhere Visa® Business Card by Citi outside of Costco, as long as the merchant accepts Visa cards.
Why You Should Trust Us
We focused on the following factors when reviewing the Costco business credit card:
- Ease of use — Does the card have a rewards program and benefits that are easy to use and navigate? Is it easy to redeem rewards?
- Rewards earning — If there's a welcome bonus, is it competitive with other cards? Are there ongoing bonus categories, and are any capped at a maximum spending amount?
- Benefits — Are the card's benefits useful, especially to business owners, and do they justify the card's annual fee if there is one?
- Annual fee — If the card has an annual fee, is it offset by the value of the rewards and perks it offers?
Here's our guide to how we rate credit cards for more details about our methodology.
For rates and fees of the American Express Blue Business Cash™ Card, please click here.
For rates and fees of the American Express® Gold Card, please click here.
Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
**Enrollment required.
Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Trip Delay Insurance, Trip Cancellation and Interruption Insurance, and Cell Phone Protection Underwritten by New Hampshire Insurance Company, an AIG Company. Global Assist Hotline Card Members are responsible for the costs charged by third-party service providers. If approved and coordinated by Premium Global Assist Hotline, emergency medical transportation assistance may be provided at no cost. In any other circumstance, Card Members may be responsible for the costs charged by third-party service providers. Extended Warranty, Purchase Protection, and Baggage Insurance Plan Underwritten by AMEX Assurance Company. Car Rental Loss & Damage Insurance Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.
