The Costco Anywhere Visa Card by Citi is the only credit card accepted at Costco warehouses (along with all other Visa cards), but it's also the card purpose-built to maximize rewards across the most common Costco member spending categories. The earn rates — especially 5% at Costco gas and 4% everywhere else — are among the highest available on any no-annual-fee card. The trade-off is a once-a-year reward structure that requires patience, no welcome bonus, and an excellent credit score requirement that limits who can get it.
Cash Back Rates at a Glance
All other purchases earn 1%. There's no annual fee for the card — you just need an active Costco membership ($65/yr for Gold Star, $130/yr for Executive). Note that Costco's Executive membership itself provides 2% back on qualifying Costco purchases up to $1,250/year, stacking on top of the card's 2% for up to 4% total in-club.
Why the Gas Rates Stand Out
The 4% rate on non-Costco gas and EV charging is exceptional for a no-annual-fee card. A household spending $350/month on gas hits the $7,000 annual cap and earns $280 in cash back on gas alone — before adding dining, travel, and Costco purchases. The 5% Costco gas rate applies to purchases at Costco-branded fuel stations, which are typically among the cheapest gas prices in any market, making the effective savings even larger.
One important exclusion: gas purchased at superstores, grocery stores, or convenience stores does not earn the 4% rate — only dedicated gas stations. Costco-branded fuel stations qualify for 5%, and most standard gas station chains (Shell, BP, Chevron, Exxon, etc.) qualify for 4%.
The Annual Certificate — How Rewards Actually Work
This is the card's most distinctive quirk. Rather than earning ongoing cash back you can redeem anytime, the Costco Anywhere Visa accumulates your rewards throughout the year and issues a single Annual Credit Card Reward Certificate after your February billing statement closes. You then have until December 31 of that year to redeem it — in person at any U.S. Costco warehouse, for cash or merchandise in a single transaction.
There is an exception for larger earners: if your annual reward totals $300 or more, you can opt for direct deposit via the Citi Mobile App or citi.com instead of the physical certificate. This makes the redemption more flexible for higher-spending cardholders.
The Annual Certificate Is Redeemed in One Transaction
When you bring your reward certificate to Costco, the cashier will apply it to your purchase — and return any unused balance as cash. So if your certificate is for $320 and your cart totals $200, you walk out with your merchandise and $120 in cash. This single-redemption structure means you'll want to plan a moderately large Costco trip around the certificate redemption, or simply take the full amount as cash.
Card Doubles as Your Costco Membership ID
A practical convenience worth noting: the Costco Anywhere Visa serves as your Costco membership card. Instead of carrying a separate Costco membership card, you scan your Visa at entry and at checkout. This works at all Costco warehouses, including self-checkout and the food court. If you lose the card, contact Citi — Citi Quick Lock lets you instantly freeze the card via the mobile app to prevent unauthorized use while you search for it.
Additional Benefits
- No foreign transaction fee: Use the card internationally with no surcharge — strong for a warehouse club card
- Damage and Theft Purchase Protection: Eligible purchases are covered against damage or theft for 120 days (90 days in New York), up to $10,000 per claim
- Citi Entertainment®: Access to presale tickets and exclusive experiences for concerts, sports events, and dining
- Citi Quick Lock: Instantly lock and unlock your card via the Citi Mobile app if misplaced
- Free FICO® Score: Updated monthly via the Citi Mobile app, no impact to your score
- $0 liability on unauthorized charges
No Welcome Bonus — A Meaningful Limitation
The Costco Anywhere Visa offers no sign-up bonus of any kind. Most competitive cash back cards offer $200–$300 in first-year bonus value after meeting a spending threshold. At Costco's mandatory $65 membership cost plus the $7,000 gas cap needed to earn $280 back from gas, first-year net value is real but requires patience. If a welcome bonus is important to your card decision, the Costco card is structurally unable to compete with cards like the Wells Fargo Active Cash ($200 after $500 spend) or Chase Freedom Flex ($200 after $500 spend).
Costco Visa vs. Sam's Club Mastercard
| Feature | Costco Anywhere Visa | Sam's Club Mastercard |
|---|---|---|
| Gas Rate | 5% Costco / 4% other (first $7K) | 5% anywhere Mastercard accepted (first $6K) |
| Travel | 3% restaurants + all travel | 3% dining only — no travel category |
| In-Club Rate | 2% at Costco | 3% at Sam's (Plus members only) / 1% (Club) |
| Rewards Redemption | Annual certificate (February) | Monthly Sam's Cash loading |
| Gas Cap | $7,000/yr combined | $6,000/yr |
| Annual Rewards Cap | None | $5,000/yr total |
| Membership Required | Costco ($65–$130) | Sam's Club ($50–$110) |
| Welcome Bonus | None | Typically none |
The Costco card wins on travel rewards (3% vs. 1%) and a higher gas cap with no annual total rewards cap. Sam's Club wins on monthly reward access and the 5% gas rate applies at all Mastercard gas stations — not just Sam's Club stations. For travelers, the Costco card is meaningfully better. For gas-heavy households who don't travel, the Sam's card's monthly cash access may be more practical.
Pros & Cons
What We Love
- 4–5% on gas — among the best rates available on any no-annual-fee card
- 3% on dining AND travel — rivals premium travel cards at zero card fee
- 2% at Costco stacks with Executive membership 2% for up to 4% in-club
- No foreign transaction fee — genuinely useful for international use
- No annual card fee with existing Costco membership
- Unlimited 3% dining/travel — no spending cap on most valuable categories
What to Watch Out For
- No welcome bonus — first-year value lower than most competitors
- Annual certificate only — can't access rewards until February of the following year
- Requires excellent credit (720+) — limited applicant pool
- 2% in-club is modest for a warehouse card — non-Costco 2% cards match it everywhere
- $7,000 gas cap — heavy drivers hit it in 20 months and drop to 1%
- Costco membership is a de facto annual fee ($65–$130)
Costco Anywhere Visa® Card by Citi
5% Costco gas · 4% other gas/EV · 3% dining + travel · 2% at Costco · $0 card fee
Apply Now →Bottom Line
The Costco Anywhere Visa is the right card for active Costco members who spend heavily on gas and dine out regularly. The 4% gas rate is best-in-class for no-annual-fee cards, and the unlimited 3% on dining and travel rivals premium travel cards at no card cost. The annual certificate structure is a real inconvenience for anyone who prefers regular access to their rewards — but for patient cardholders who plan a Costco trip around the February payout, the accumulated lump sum can be substantial. Just don't expect a welcome bonus or a quick approval — this card requires excellent credit and won't reward you in year one the way most cash back cards do.