Costco Anywhere Visa Card: New Perks Boost Rewards, Especially on Gas
Costco has boosted its Anywhere Visa Card perks, offering bigger cash back rewards, especially on gas. Find out how to maximize your savings with this updated Costco gas rewards program.
Costco members with the store's co-branded credit card have a new reason to be happy at the pump and in the warehouse. In a move that enhances the value of its membership, Costco has quietly rolled out a new rewards program for its Costco Anywhere Visa® Card by Citi, featuring some of the most competitive cash back rates available, especially on gas. This update makes the popular store card an even more compelling option for loyal shoppers.
New Costco Anywhere Visa Card Benefits
The biggest change for cardholders is the enhanced cash back on fuel purchases. The card now offers an impressive 5% cash back on gas at Costco stations. This perk alone can lead to significant savings for members who regularly fill up at the warehouse.
Beyond Costco's own pumps, the card remains highly competitive, offering:
- 4% cash back on eligible gas and EV charging purchases elsewhere.
- 3% cash back on restaurant and eligible travel spending.
- 2% cash back on all other purchases from Costco and Costco.com.
- 1% cash back on all other purchases.
It’s important to note that the elevated gas rewards (the 5% and 4% categories) are capped. Cardholders will earn these rates on the first $7,000 in combined gas and EV charging purchases per year. After hitting that limit, the cash back rate for fuel drops to 1%. You can find the full details and terms of the card on the official Citi website.
How to Redeem Rewards
Unlike many cash back cards that offer statement credits or direct deposits throughout the year, the Costco Anywhere Visa Card has a unique redemption process. All the cash back you earn is tallied up and distributed once a year as a single credit card reward certificate.
Cardholders will find their annual certificate included with their February billing statement. This certificate can then be taken to any U.S. Costco warehouse and redeemed for either cash or merchandise at the register. Just be sure not to lose it, as it's your ticket to a year's worth of savings.
A Commitment to Costco Membership Value
This card enhancement isn't happening in a vacuum. It aligns with Costco's stated goal of continuously adding value for its members. During a December Q1 earnings call, CFO Gary Millerchip highlighted the company's focus on its members. "We’re committed to continuing to improve the value of the membership," Millerchip stated, pointing to recent improvements like extended store hours and new Costco Instacart benefits alongside the powerful new gas reward.
Conclusion: A More Valuable Card for Members
For frequent Costco shoppers and drivers, the enhanced Costco gas rewards program significantly boosts the value proposition of the Citi Costco Anywhere Visa Card. The 5% return on Costco gas is a standout feature that can easily help offset the cost of an annual membership.
If you’re considering the card, remember that an active Costco membership is required to apply and maintain the account. For existing cardholders, the key takeaway is simple: keep using your card on everyday purchases and be on the lookout for your annual reward certificate when your February statement arrives.