How Do Costco Anywhere Visa® Card by Citi Rewards Work?
The Costco Anywhere Visa® Card by Citi rewards work by giving you cash back on eligible purchases throughout the year, with different rewards rates depending on where you use the card. The Costco Anywhere Visa® Card by Citi offers 5% cash back on eligible gas purchases at Costco, 4% on other eligible gas and EV charging, 3% on restaurants and eligible travel, 2% on Costco purchases, and 1% on other purchases, subject to the card's terms and annual limits.
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How Do Costco Anywhere Visa® Card by Citi Rewards Work?
The rewards are earned automatically when you use the Costco Anywhere Visa® Card by Citi for qualifying purchases. You do not have to activate individual reward categories or select which purchases will earn cash back.
The amount of cash back you earn depends on the type of purchase. Your rewards accumulate throughout the year rather than being paid to you immediately after each purchase.
How Much Cash Back Does the Costco Anywhere Visa® Card by Citi Earn?
The Costco Anywhere Visa® Card by Citi has several different cash-back categories:
5% cash back: Eligible gas purchases at Costco earn 5% cash back.
4% cash back: Other eligible gas and EV charging purchases earn 4% cash back, subject to the applicable annual limit.
3% cash back: Eligible restaurant and travel purchases earn 3% cash back.
2% cash back: Purchases made at Costco and Costco.com earn 2% cash back.
1% cash back: Other eligible purchases generally earn 1% cash back.
The gas and EV charging rewards are subject to a combined $7,000 annual spending limit. After reaching the applicable limit, eligible purchases in that category earn 1% cash back.
If you want to understand why a particular gas purchase did not receive the expected rewards rate, see our article explaining why you may not get 4% cash back at all gas stations with the Costco Anywhere Visa® Card by Citi.
Do Costco Anywhere Visa® Card by Citi Rewards Accumulate?
Yes. Your cash back rewards accumulate as you make eligible purchases during the year. The rewards are not generally issued as a separate cash payment after each purchase.
Citi calculates your rewards based on qualifying purchases made with the Costco Anywhere Visa® Card by Citi, and the accumulated rewards are reflected in your account information.
When Are Costco Anywhere Visa® Card by Citi Rewards Issued?
Rewards from the Costco Anywhere Visa® Card by Citi are generally issued once each year rather than as monthly cash-back payments. After the February statement closes, Citi issues the annual Costco cash back reward certificate for the rewards earned during the previous year.
This means you can use the Costco Anywhere Visa® Card by Citi throughout the year and watch your rewards accumulate, but you generally receive the annual reward certificate the following February.
What Is the Costco Reward Certificate?
The annual reward certificate represents the cash back you earned during the previous reward period. It can be redeemed at a U.S. Costco warehouse, including Costco locations in Puerto Rico, subject to the applicable terms.
The certificate can be used for cash or merchandise at Costco. Citi states that the certificate expires on December 31 of the year in which it is issued, so it is important not to overlook it after receiving it.
Can I See How Much Cash Back I Have Earned?
Yes. You can view information about your accumulated rewards through your Citi account online or through the Citi Mobile app.
This can help you keep track of how much cash back you have accumulated before the annual reward certificate is issued.
Can I Get My Costco Anywhere Visa® Card by Citi Rewards as a Bank Deposit?
There is also an electronic redemption option for qualifying rewards. Citi states that cardholders who earn at least $300 in cash back rewards may have the option to redeem those rewards through an ACH deposit.
This gives qualifying cardholders another way to receive the value of their accumulated cash back rather than using the reward certificate only for purchases at Costco.
How Do I Redeem My Costco Anywhere Visa® Card by Citi Rewards?
If you're specifically looking for the step-by-step process for using your Costco cash back reward certificate, we have a separate guide that explains the redemption process in detail.
See our step-by-step guide to redeeming your Costco Anywhere Visa® Card by Citi rewards certificate.
Which Purchases Earn the Most Rewards?
The highest rewards rate depends on where you use the Costco Anywhere Visa® Card by Citi. Eligible gas purchases at Costco can earn 5% cash back, while other eligible gas and EV charging purchases can earn 4% within the applicable annual limit.
Restaurants and eligible travel purchases earn 3%, Costco purchases earn 2%, and other eligible purchases generally earn 1%.
Understanding which purchases fall into each category is important because not every purchase that looks like gas, travel, or another bonus category will necessarily receive the higher rewards rate.
Interested in the Costco Anywhere Visa® Card by Citi?
If the rewards program looks like a good fit, you can check for Costco Anywhere Visa® Card by Citi prequalification before deciding whether to submit a formal application.
For a broader look at the card's rewards, benefits, drawbacks and ways to maximize your cash back, see our Costco Anywhere Visa® Card by Citi guide.
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