Earlier this summer, Costco switched to Visa from American Express, meaning they now only accept Visa in their stores. Naturally, they also released a new Visa rewards card. Here’s a quick rundown of the perks so you can decide if it’s worth signing up.


The good news is the card doesn’t come with an annual fee, unless you consider your Costco membership part of the fee (the card is only available to Costco members). You’d think the rewards would be top-notch for Costco purchases, but it’s about average. You get 2% cash back for anything you buy at Costco, and as NerdWallet points out, that’s the standard rate for a lot of other rewards cards.


This card stands out with fuel, travel, and restaurant purchases, however. NerdWallet writes:

The Costco Anywhere Visa Card, by contrast, pays 4% on up to $7,000 a year in gas purchases at Costco and most gas stations — but not including gas bought at other warehouse clubs. That works out to $583 in gas spending per month.

As for travel and dining, you get 3% cash back on your purchases, and there’s no cap.

Unfortunately, there are some downsides. For one, they charge a fee for foreign transactions (3%). Plus, redemption options aren’t too attractive. You can redeem for cash in-store, or you can get a Costco reward coupon mailed to you every year in February. You can also redeem for merchandise, but that’s rarely a good option for using your rewards.


All in all, it’s a decent card if you’re already a Costco member and you spend a lot on restaurants or travel. Read the fine print, though, because they specify what counts as restaurant and travel spending. That goes for any card, though. Check out the below links for more detail.


Costco Anywhere Visa | Costco.com via NerdWallet

Photo by Mike Mozart