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While points and miles are currently my preferred credit card rewards, there was a time when cash back ruled my choices.
Among the eight cards in my wallet, three are cash back options. I hold onto all three, as two of them—the Blue Cash Preferred® Card from American Express and the Discover it® Cash Back Credit Card—represent a significant portion of my credit history.
In 2023, I added a third option: the Costco Anywhere Visa® Card by Citi (see rates and fees), which has been a valuable addition since its inception.
The details for the Discover it card have been independently collected by The Points Guy. The information presented here has not been reviewed or provided by the card issuer.
The Costco Anywhere Visa excels in two significant spending areas for my household: Costco and gas purchases. With excellent cash-back rates in popular bonus categories, it’s an ideal choice for Costco members eager to enhance their cash back earnings.
Let’s explore why the Costco Anywhere Visa could be the right fit for you.
Generates cash back in essential categories
Since most of my family lives within a three-hour drive, the fuel expenses for visiting can accumulate quickly. Thankfully, the 5% cash back on gas at Costco and 4% on other eligible gas and electric vehicle (EV) charging (up to $7,000 in combined spending annually, then 1%) allows me to earn rewards on every trip.
Additionally, my home includes a daily commuter who fills up twice a week and is an authorized user on my Costco Anywhere Visa, boosting my rewards further in this category.
Moreover, there’s the unlimited 3% cash back on restaurants and eligible travel categories, such as airfare and cruises booked via Costco Travel. Although my American Express® Gold Card is my first choice for dining and grocery purchases, having a backup option that offers strong rewards where Amex isn’t accepted is quite convenient.
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I also receive 2% cash back on all purchases made at Costco and Costco.com, where I frequently check for flash sales and deals. Plus, earning 1% cash back on all other purchases is an added bonus — even when I’m not hitting higher rates in my main categories, I still accumulate rewards every time I swipe my card.
A key point with the Costco Anywhere Visa is that cash-back rewards can only be redeemed annually, unlike most cards that allow for more frequent redemptions. If you prefer accessing rewards regularly, this card might not suit your needs.
Covers my Costco membership fees
I love shopping at Costco, but with the nearest location being a 30-minute drive away, I typically visit every five to six weeks. These trips generally involve purchasing groceries in bulk—like produce and meat (much of which is frozen for meal prep later)—and larger items such as kitchen appliances and furniture.
In just two months after opening my Costco Anywhere Visa, I earned enough cash back and digital shop cards to more than cover the $130 annual fee for my Costco Executive Membership. (Although the card itself has no annual fee, being a Costco member is required to obtain it.)
This credit card essentially pays for your Costco membership while also enhancing your cash-back earning potential across various categories, often allowing for combination benefits.
Serves as a practical travel card
While not typically classified as a travel card, the Costco Anywhere Visa offers great advantages, including no foreign transaction fees and 3% cash back on rental cars, hotel stays, and other eligible travel categories.
One of my favorite perks—which I often highlight—is the ability to combine the 3% cash back on eligible travel with the 2% that Executive Members earn, resulting in a total of 5% cash back on travel rewards.
Conclusion
The Costco Anywhere Visa simplifies the process of maximizing cash-back rewards. I appreciate its versatility and exceptional cash-back offers in my preferred categories.
Besides serving as an effective travel card, the Costco Anywhere Visa also functions as my Costco membership card, ensuring I’m covered even if I forget my physical card. Knowing I’ll earn at least 1% cash back with every use is a great bonus.
This card is a key component of my wallet due to its robust cash-back earning capabilities.
To learn more, check out our complete review of the Costco Anywhere Visa Card.
Apply here: Costco Anywhere Visa
