Factors and miles are at present my most well-liked bank card reward currencies, however there was a time when cash back was my best choice.
Of the eight playing cards in my pockets, three are money again merchandise; I proceed to carry all three as a result of two of them — the Blue Cash Preferred® Card from American Express and the Discover it® Cash Back Credit Card — account for a good portion of my credit score historical past.
I added the third one, the Costco Anywhere Visa® Card by Citi (see rates and fees), to my pockets in 2023, and it has been placing in work ever since.
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The Costco Wherever Visa shines in two areas the place my family spends some huge cash: Costco and gas purchases. It additionally options strong cash-back charges in in style bonus classes, making it an incredible possibility for Costco members who need to maximize their money again earnings.
Let’s talk about why the Costco Anywhere Visa is perhaps an incredible match for you.
Earns money again in key classes
Most of my household lives inside a three-hour drive from me, so fueling as much as drive backwards and forwards to go to them can add up. Happily, the beneficiant 5% money again on fuel at Costco and 4% money again on different eligible fuel and electrical automobile (EV) charging for as much as $7,000 in mixed spending every year (then 1%), giving me an opportunity to earn rewards on each journey I make.
Moreover, my family features a day by day commuter who fills up twice per week and is a certified consumer on my Costco Anywhere Visa, incomes me much more rewards on this class.
Then there’s the limitless 3% money again on eating places and eligible journey classes, together with airfare and cruises booked by Costco Travel. Regardless that my American Express® Gold Card is my go-to for restaurant and grocery purchases, it is helpful to have a backup possibility that earns a wholesome rewards charge on my eating purchases at locations the place Amex playing cards aren’t accepted.
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I additionally earn 2% money again on all purchases from Costco and Costco.com, which I continuously browse for flash gross sales and different offers. Plus, the additional advantage of incomes 1% money again on all different purchases is the cherry on high — even once I’m not incomes larger charges of money again in my fundamental classes, I nonetheless earn rewards each time I faucet my card.
The main caveat with redeeming your cash-back rewards with the Costco Wherever Visa is that you would be able to solely achieve this yearly, which differs from most playing cards that make your rewards redeemable on the finish of every billing cycle. For those who’re a fan of redeeming your rewards on a extra frequent rolling foundation, this card might not be the most effective for you.
Pays for my Costco membership
I really like Costco, however as a result of the closest one to me is half-hour away, I usually store on the warehouse each 5 to 6 weeks. This implies my Costco journeys are hauls the place I get groceries like produce and meat in bulk (a lot of which will get frozen and saved for future meal prep use) and typically larger objects like kitchen home equipment, cookware and even indoor-outdoor furnishings.
Throughout the first two months of opening my Costco Anywhere Visa, the money again I accrued, along with the digital store playing cards I earned, greater than paid off my $130 annual Costco Govt Membership price. (Though the Costco Wherever Visa does not cost an annual fee, you have to be a Costco member to acquire the shop card.)
Basically, this bank card pays on your Costco membership whereas boosting your cash-back incomes energy throughout a number of classes, a few of which you’ll even mix (however extra on that in only a bit).
Doubles as an honest journey card
Whereas most individuals do not contemplate the Costco Anywhere Visa a journey card within the conventional sense, it gives cardholders nice perks, together with no foreign transaction fees wherever Visa is accepted and three% money again on rental vehicles, lodge stays and different eligible journey classes.
However considered one of my favourite perks — which I feel is among the greatest perks and infrequently inform individuals about — is that cardholders get to mix the three% money again on eligible journey with the two% money again that everybody with Costco’s Govt Membership will get for a complete of 5% money again on journey rewards.
Backside line
The Costco Anywhere Visa makes it simple to maximise cash-back rewards. I am an enormous fan of its multifunctionality and killer cash-back gives in my most continuously used classes.
Along with doubling as an incredible journey card, the Costco Wherever Visa additionally acts as your Costco membership card, so it is not an enormous deal when you neglect your bodily membership card at dwelling. It is also good to know that you will earn a minimum of 1% money again every time you utilize your card.
As a result of it is such a workhorse for incomes me cash-back rewards, this card is a staple in my pockets.
To study extra, learn our full review of the Costco Anywhere Visa Card.
Apply right here: Costco Anywhere Visa