Costco Anywhere Visa® Business Card by Citi
- Best for: Costco members whose business buys a lot of gas
- What Sets It Apart: Pays 5% at Costco’s own pumps and doubles as your Costco membership card
- Rewards: 5% on Costco gas and 4% at other eligible gas stations and EV chargers, on the first $7,000 a year combined, then 1%; 3% on restaurants and eligible travel; 2% at Costco and Costco.com; 1% on everything else
- Features: Cash back paid yearly as a certificate, redeemable in person at U.S. Costco warehouses through December 31; free employee cards; 120-day purchase protection; car rental insurance
- Annual Fee: $0 with a paid Costco membership, $65 a year at the Gold Star or Business level
- APR: 18.99% to 27.49% variable
- Cost: No foreign transaction fee; cash advances $10 or 5%, whichever is greater; late payment $41
- Eligibility: A Costco membership in your name and in each employee cardholder’s; business use only, with no minimum business size
- Pros: 4% to 5% on gas; 3% on restaurants and travel; employee cards at no fee; purchase protection
- Cons: Rewards once a year, redeemable only at Costco; lost if you close the card before the certificate, unless the business closes; no welcome bonus; 1% outside its categories
Get the Costco Anywhere Visa® Business Card by Citi if you’re a Costco member whose business buys plenty of gas and shops at Costco. Gas earns 5% at Costco and 4% at other eligible stations, on up to $7,000 a year. Skip it if you want monthly rewards, since they come once a year as a certificate redeemable at Costco.
The Costco Anywhere Visa Business Card by Citi earns the same cash back as the personal Costco Anywhere Visa, but for a business and its employees. Citi sets no minimum business size, so side businesses can apply, though you and the business are both liable for the balance.
Key Features
- $0 annual fee with a paid Costco membership, $65 a year at the Gold Star or Business level
- 5% on Costco gas and 4% at other eligible gas stations and electric vehicle chargers, on the first $7,000 a year combined, then 1%
- 3% on restaurants and eligible travel, 2% at Costco and Costco.com, and 1% on everything else
- Cash back paid once a year as a certificate, issued after the February statement closes
- 18.99% to 27.49% variable annual percentage rate (APR) on purchases, and no foreign transaction fee
Pros
- Gas earns 4% to 5% on up to $7,000 a year, about $583 of fill-ups a month
- 3% on business meals and travel, Costco Travel included
- Free employee cards, whose spending adds to your certificate
- Purchase protection that may cover items stolen or damaged in the first 120 days (90 in New York)
Cons
- Cash back comes once a year, as a certificate you redeem in person at a U.S. Costco warehouse by December 31
- Rewards forfeited if you close the card before the February certificate, unless the business closes
- Every employee cardholder needs a Costco membership of their own
- No welcome bonus
- Only 1% outside its gas, restaurant, travel, and Costco categories, half what a flat 2% card pays
Costco members whose business buys a lot of gas come out ahead, since $500 a month of it at other eligible stations earns $240 a year on this card, against $120 on a flat 2% card. Owners who rarely shop at Costco, spend mostly outside this card’s categories, or want rewards monthly should get American Express’s no-fee Blue Business Cash Card, which pays 2% on the first $50,000 a year as a statement credit.
Learn more about the Costco Anywhere Visa® Business Card by Citi or see how it compares to the best small-business credit cards.
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