If you’re a frequent shopper at Costco, you’ve probably been asked if you have their credit card. The Costco Credit Card, also known as the Costco Anywhere Visa Card, is a popular option for shoppers who want to earn rewards on their purchases. In this blog post, we’ll take a closer look at the Costco Credit Card and its benefits, as well as some things to consider before applying.

Benefits of the Costco Credit Card One of the biggest benefits of the Costco Credit Card is its rewards program. Here’s how it works:

• 4% cash back on eligible gas purchases (up to $7,000 per year, then 1% after that)
• 3% cash back on restaurant and eligible travel purchases
• 2% cash back on all other purchases from Costco and Costco.com
• 1% cash back on all other purchases

These rewards can add up quickly, especially if you’re a frequent Costco shopper or traveler. In addition, the Costco Credit Card has no annual fee (other than the cost of a Costco membership) and no foreign transaction fees, making it a great option for international travel.

Another benefit of the Costco Credit Card is its extended warranty and damage protection. If you purchase an eligible item with your Costco Credit Card, you’ll receive an additional 2 years of warranty coverage beyond the manufacturer’s warranty. In addition, the card offers damage and theft protection for eligible purchases made with the card.

Finally, the Costco Credit Card offers some travel benefits, including worldwide travel accident insurance, car rental insurance, and emergency travel assistance.

Things to Consider Before Applying for the Costco Credit Card While the Costco Credit Card has some great benefits, there are a few things to consider before applying.

First, the rewards program is designed to encourage spending at Costco and other eligible merchants. If you’re not a frequent Costco shopper, you may not earn as many rewards as you would with a different rewards credit card. Similarly, if you don’t travel or dine out often, you may not earn as much cash back on those purchases as you would with a card that offers higher rewards for those categories.

Second, the Costco Credit Card requires a Costco membership. If you’re not already a Costco member, you’ll need to pay for a membership before you can apply for the card. While the rewards from the credit card can offset the cost of the membership, it’s important to factor this into your decision.

Third, the Costco Credit Card has a high interest rate, especially if you carry a balance. If you tend to carry a balance on your credit card, you may want to consider a card with a lower interest rate, even if it offers fewer rewards.

Finally, the Costco Credit Card is issued by Citi, which means you’ll need to have good credit to be approved. If you have a lower credit score, you may not be approved for the card.

Tips for Using the Costco Credit Card If you decide to apply for the Costco Credit Card, there are a few tips to keep in mind to maximize your rewards.

First, make sure to use your card for all eligible purchases, including gas, restaurants, travel, and Costco purchases. This will ensure that you’re earning the maximum amount of cash back possible.

Second, pay off your balance in full each month to avoid paying interest on your purchases. The high interest rate on the Costco Credit Card means that carrying a balance can quickly negate any rewards you earn.

Third, take advantage of the extended warranty and damage protection offered by the card. If you purchase an eligible item with your Costco Credit Card, make sure to register it for the additional warranty coverage.

Finally, be aware of the spending cap on gas purchases. You can earn 4% cash back on eligible gas purchases up to $7,000 per year.