The rewards for these two cards are many - users earn 4% on eligible gas (up to $ 7000 / year and 1%), 3% on restaurants and purchases eligible travel, 2% on all purchases and Costco Costco .com and 1% on everything else . If your family or your company spends a lot every year at Costco, the opportunity to earn 2% on all purchases of year is great. In addition, you get a seven months 0% Intro APR, which can be useful if you need to make a major purchase or two and want to save on interest charges. There is no annual fee for both cards, as long as you have a Costco member paid. Planning to travel? Although there is the foreign transaction fee of 3%, it is not worth when you shop anywhere Costco worldwide.
What are the potential drawbacks?
It is important to note that the rewards for both Anywhere Costco Visa Card by Citi and Anywhere Costco Visa Business Card Citi may only be redeemed once a year as an annual reward coupon on your billing statement in February you can then redeem against cash or use for purchases at Costco. If you are someone who likes to redeem their rewards more often than that, you might want to consider a different card rewards. This blog post details of other credit cards that you can consider. In addition, there are restrictions as to what gas stations will save money by 4% back - gas purchased from stores, supermarkets, convenience stores and warehouse clubs other than Costco are not eligible. However, you will always have 1% cash back on gas purchases ineligible.
Keep in mind, too, that this card requires excellent credit. If you are looking to save at Costco, but less-than-excellent credit, you may want to consider the Chase Freedom - $ 150 Credit Card Bonus, which offers 5% cash back on up to $ 1 500 d shopping combined in bonus categories - including Costco from now through December 31, 2016 - each quarter, you turn and 1% on all other purchases. Chase Freedom accepts applicants with good credit and offers a plethora of other benefits. Business owners can turn to the Capital One Spark Cash for Business card, which does not offer specific rewards to Costco, but offers a flat 2% cash back on all purchases, including those made at Costco and other big clubs, as well as other benefits.
Visit our credit card reviews to see how these new cards against other big names and learn more about rewards credit cards.
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