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Costco Anywhere Visa® Business Card Review

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By Benilyn Formoso - Suralta on September 17, 2020

Benilyn has over a decade of experience as a banking officer. Her expertise is featured throughout Fit Small Business in personal finance, credit card, and real estate investing content.

This article is part of a larger series on Best Small Business Credit Cards.

Costco Anywhere Visa® Business Card by Citi

Apply Now

On Citi's Secure Website

Rating 3.5 3.5
?Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.

Best For: Existing or new Costco members

Intro APR Regular APR Annual Fee Credit Needed
N/A 16.24% Variable 0 Good - Excellent
  • 4% Cash back on eligible gas worldwide, including gas at Costco, for the first $7,000 per year and then 1% thereafter
  • 3% Cash back on restaurant and eligible travel purchases worldwide
  • 2% Cash back on all other purchases from Costco and Costco.com
  • 1% Cash back on all other purchases
See Full Editorial Review Here
Pros
  • Top gas rewards at Costco stations
  • No annual fee
Cons
  • Rewards must be redeemed at a Costco location
  • No introductory rewards
  • Car rental insurance: Offers primary coverage, which means you won’t need to use your personal auto insurance or accept insurance offered by the rental agency. Coverage is limited to $50,000.
  • Purchase protection: The issuer may repair or reimburse for items purchased with your business Costco card ― or your reward certificate ― that are damaged or stolen within 120 days of purchase or 90 days for New York residents.

The Costco Anywhere Visa® Business Card by Citi is a cash back credit card designed exclusively for business owners who are Costco members. This business credit card offers cash back rewards in the form of an annual reward certificate that is redeemable for cash or merchandise at United States Costco Warehouses.

Who the Costco Anywhere Visa® Business Card Is Best For

  • Owners who are ongoing Costco members: An active Costco membership is required to apply for Costco Anywhere Visa® Business Card by Citi.
  • Costco members who have up to $7,000 in annual gas expenses: The Costco Anywhere Visa® Business Card by Citi offers premium rewards on gasoline spending at 4% for the first $7,000 per year.

How We Evaluate Cash Back Business Credit Cards

When grading cash back business credit cards like the Costco Anywhere Visa® Business Card, we weigh ongoing rewards heaviest. We rate introductory rewards as slightly less important, but they still are the second biggest factor in grading a card. We also take into account the annual fee, introductory and ongoing annual percentage rates (APRs), and additional card benefits.

Grading Criteria
Card Score
Highest Possible Score
Ongoing Rewards
30
30
Introductory Rewards
0
20
Annual Fee
15
15
Additional Features
15
15
Introductory APR
0
10
Ongoing APR
10
10
Total Score
70
100

Costco Anywhere Visa® Business Card Fees

  • Introductory APR: None
  • Ongoing APR: 15.24% variable, which adjusts with the prime rate
  • Annual fee: None, but you must be a Costco member to qualify
  • Balance transfer fee: Transfers are not allowed
  • Foreign transaction fee: None
  • Cash advance fee: Either $10, or 5% of the amount of each cash advance, whichever is greater; APR is 25.24%

Costco Anywhere Visa® Business Card Rewards

  • 4% cash back on eligible purchases of gas worldwide, including gas at Costco, for the first $7,000 per year, then 1% thereafter
  • 3% cash back at restaurants and eligible travel purchases worldwide, including Costco Travel
  • 2% cash back on all other purchases from Costco and Costco.com
  • 1% cash back on all other purchases

Welcome offer: None

You can redeem your cash back rewards once a year in the form of an annual reward certificate once your February billing statement closes. This certificate is redeemable through December 31 of the year the certificate is issued and can be used for cash or merchandise at US Costco Warehouses.

If the amount redeemed for merchandise is less than your full cash back earnings, you’ll receive the remaining balance in cash at checkout. You will not receive a credit card reward certificate if you earn less than $1 throughout the year or your account is closed at the time Costco is scheduled to send the certificate. If you earn more than $10,000 in cash back rewards, Costco may award you via check or electronic transfer.

Costco Anywhere Visa® Business Card Features

Worldwide Car Rental Insurance

When you rent a car using your Citi Costco business card, you’re covered up to $50,000 in case of an accident or theft for rentals of 31 consecutive days or less. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. To be eligible, the vehicle must have at least four wheels and driven on public roads. Certain instances are not covered, such as violation of the rental agreement, not taking responsible care of the rental car, and using the rental car for hire.

Purchase Protection

Citi may repair or reimburse for purchased items that are damaged or stolen within 120 days of purchase or 90 days for New York residents. Coverage is limited to $10,000 per item, up to $50,000 per account per year. Items that are not covered include motorized vehicles, consumables, perishable goods, cash equivalents, and tickets.

Extended Warranty

Citi will extend the manufacturer’s warranty for an additional 24 months from the expiration of that warranty. The issuer will replace the item or reimburse you up to the amount charged on your Costco Anywhere Visa® Business Card or purchased with your reward certificate up to $10,000. Coverage is capped at a maximum of seven years from the purchase date. Motorized vehicles, tires, real estate, preowned items, and items without a manufacturer’s warranty are not covered.

Travel Accident Insurance

Citi will provide up to $1 million of coverage if you die or lose a limb, sight, speech, or hearing in a plane, train, ferry, or cruise ship accident paid for with your Costco Anywhere Visa® Business Card. Citi will pay out the maximum coverage only in the event of death. Injuries are eligible for $250,000 to $500,000 in coverage. This insurance excludes losses as a result of a riot or act of war, injuries, or death that occur while traveling in a taxi, car service, rental car, or rideshare service, and losses that occur while engaging in extreme activities.

Travel and Emergency Assistance

Cardholders, immediate family members, and their eligible traveling companions can access the 24-hour travel, emergency, medical, and legal assistance. It is important to note that this is only a concierge service, which means the cardholder is responsible for the cost of any assistance provided. You can request help by calling 866-918-4670 in the US or call collect internationally at 312-356-7839.

Costco Anywhere Visa® Business Card Alternatives

Chase Ink BusinessSM Cash

Ink Business Cash℠ Credit Card

Apply Now

On Chase's Secure Website

Fit Small Business Review
Rating 5 5
?Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.

Best For: Office-based businesses that want top cash back rewards

Intro APR ?0% APR for 12 months on purchases Regular APR Annual Fee Credit Needed
0% Intro APR on Purchases 13.24% - 19.24% Variable $0 Good - Excellent
  • Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening
  • Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
  • Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
  • Earn 1% cash back on all other card purchases with no limit to the amount you can earn
  • 0% introductory APR for 12 months on purchases
  • Employee cards at no additional cost
  • No Annual Fee

Note: The information related to the ChaseInk Business Cash℠ Credit Card Card has been collected by fitsmallbusiness.com and has not been reviewed or provided by the issuer of this card.

Pros
  •  Top rewards for office supply spending
  • Introductory APR on purchases
  • Cash sign-up bonus
Cons
  • 0% APR doesn’t apply to balance transfers
  • High balance transfer fee of 5%
  • Designed mainly for office-oriented companies
  • Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes. It provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the U.S. and abroad.
  • Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year.
  • Extended warranty protection: Extends the time period of the U.S. manufacturer’s warranty by an additional year on eligible warranties of three years or less.

American Express Blue Business CashTM Card

American Express Blue Business Cash™ Card

Apply Now

on American Express Blue Business Cash™ Card's secure website.

See Rates and Fees

Fit Small Business Review
Rating 4 4
?Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.

Best For: Earning 2% cash back every time you swipe and 0% introductory APR for 12 months

Intro APR ?0% introductory APR for 12 months on purchases Regular APR Annual Fee Credit Needed
0% on purchases 13.24% - 19.24% Variable No annual fee Good, Excellent
  • Earn up to $300 back to boost your business. You can earn up to $100 in the form of statement credits at each of the following merchants: Dell Technologies, DocuSign or FedEx after you make an eligible purchase on your new Card within the first 3 months of Card Membership.
  • Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
  • From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
  • Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
  • 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 13.24% - 19.24%, based on your creditworthiness and other factors as determined at the time of account opening.
  • No Annual Fee
  • Terms Apply
Pros
  • No interest for 12 months
  • Earn consistent 2% cash back rewards on every purchase
Cons
  • Offers no cash sign-up bonus
  • 2% cash back category is capped at $50,000 in annual spending
  • Extended warranty protection: American Express provides up to an additional year of coverage on warranties of up to five years. Coverage is limited to $10,000 per occurrence and $50,000 per account each year.
  • Purchase protection: The issuer will repair, replace, or reimburse you for an item purchased with the card that was damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per occurrence and $50,000 per account each year.
  • Baggage insurance: If your luggage is damaged or lost when you travel on a common carrier like a plane, trip, ship, or bus, American Express will reimburse you for losses not covered by your own personal insurance.

Chase Ink Business UnlimitedSM

Ink Business Unlimited℠ Credit Card

Apply Now

On Chase's Secure Website

Fit Small Business Review
Rating 4 4
?Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.

Best For: Pocketing 1.5% cash back on every single purchase

Intro APR ?0% APR for 12 months on purchases Regular APR Annual Fee Credit Needed
0% Intro APR on Purchases 13.24% - 19.24% Variable $0 Good - Excellent
  • Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening
  • Earn unlimited 1.5% cash back on every purchase made for your business
  • 0% introductory APR for 12 months on purchases
  • Employee cards at no additional cost
  • No Annual Fee

Note: The information related to the Chase Ink Business Unlimited℠ Credit Card has been collected by fitsmallbusiness.com and has not been reviewed or provided by the issuer of this card.

Pros
  • 0% APR on purchases
  • Unlimited cash back rewards on all purchases
Cons
  • Introductory APR period doesn’t apply to balance transfers
  • 5% balance transfer fee
  • Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes; it provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the US and abroad
  • Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year
  • Extended warranty protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of three years or less

Bottom Line

The Costco Anywhere Visa® Business Card is best for business owners who are current members of Costco. This business credit card allows you to earn Costco cash back rewards on every purchase. If you are not a Costco member, you may want to check other best business credit cards to find one that may be right for you.

About the Author

Benilyn Formoso - Suralta

Benilyn Formoso-Suralta is a staff writer at Fit Small Business focusing on finance, accounting, and Small Business Loans. She brings with her 12 years of experience as a banking officer with the Bank of the Philippine Islands with expertise in consumer banking, real estate sales, and foreign exchanges.

@benilynformoso