Costco Anywhere Visa® Review

Overview

The Costco Anywhere Visa is a strong card for the right person: 4% on gas, 3% on dining and travel, and 2% at Costco, with no annual fee beyond your Costco membership. If you shop at Costco and fill up on gas, the earning is genuinely good.

The catches are that you must be a Costco member to have it, and the rewards pay out only once a year as a certificate, which is clunky. But the rates themselves are excellent.

Our 3.5 out of 5 rating

Each score weighs the rewards rate, value after the annual fee, welcome offer, points flexibility, and perks, with every point valued at a flat 1 cent. This is our editorial assessment to help you compare cards, not a guarantee of approval or of the value you will get.

Rewards: how it earns

You earn 4% on gas up to $7,000 a year then 1%, 3% on dining and travel, 2% at Costco, and 1% on everything else. The 4% gas rate is one of the best around, and the dining and travel bonuses are strong too. The awkward part is redemption: rewards come once a year as a certificate you can use at Costco, not as flexible cash whenever you want.

Every point and mile above is valued at a flat 1 cent, the same honest standard we use for every card. Run your own spending through the calculator to see what this card would actually return for you.

Pros and cons

The welcome bonus

There is no welcome bonus, which is unusual and a real downside compared to nearly every competitor. The card earns its keep through ongoing rewards, not a sign-up bonus.

Is it worth the annual fee?

There is no separate annual fee, but you must maintain a Costco membership to hold the card, so factor that cost in. If you already shop at Costco, that membership is not an added expense, and the strong gas and dining rates make the card worthwhile.

First-year value vs ongoing value

There is no lump-sum welcome bonus, so first-year and ongoing value are about the same, roughly $417 a year on typical spending after the fee. What you see is what you get from day one.

*First-year value counts the welcome bonus, estimated rewards, and annual credits, minus the annual fee; ongoing value is a typical year after. Every point at a flat 1 cent, on average spending.

Benefits and protections

Beyond the rewards, the perks and protections worth knowing about include:

• The $65 annual fee reflects the required Costco Gold Star membership; the card itself has no separate fee
• Cash back issued once a year as a Costco reward certificate
• No foreign transaction fees
• Damage and theft purchase protection
• Extended warranty on eligible purchases
• Travel accident insurance and auto rental collision damage waiver

Statement credits

This card does not come with recurring statement credits. Its value is in the rewards rate and welcome offer.

Who should get it, and who should skip it

If you are already a Costco member and spend on gas and dining, this is a strong cash-back card, the 4% gas alone can be worth serious money over a year. It fits naturally into a Costco-centric lifestyle.

If you are not a member, or you dislike getting your rewards only once a year, look elsewhere. The once-a-year certificate is the biggest annoyance, but the rates make up for it if the structure works for you.

Frequently asked questions

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