Difference between revisions of "Costco credit cards"
From Travel Strategies
| (11 intermediate revisions by the same user not shown) | |||
| Line 1: | Line 1: | ||
| + | {{DISPLAYTITLE: Costco Credit Cards}} | ||
{{Page|card|citi cards}} | {{Page|card|citi cards}} | ||
| Line 45: | Line 46: | ||
</div> | </div> | ||
| − | ''' | + | '''The Costco card earns some of the best bonus rewards of any no-annual-fee card. You'll get 3% on travel and restaurants and 4% on gas. If you already have a Costco membership and you don't spend enough money to justify paying annual fees for a card that earn more valuable rewards, it is a good option for these categories. But better reward rates are available from many fee-based credit cards.''' |
{{TOC|All}} | {{TOC|All}} | ||
*[[#Collecting the Signup Bonus|Signup Bonus]] | *[[#Collecting the Signup Bonus|Signup Bonus]] | ||
| − | *[[# | + | *[[#Notable Benefits|Notable Benefits]] |
| − | |||
*[[#Bonus Categories|Bonus Categories]] | *[[#Bonus Categories|Bonus Categories]] | ||
*[[#Getting Rid of the Card|Getting Rid of the Card]] | *[[#Getting Rid of the Card|Getting Rid of the Card]] | ||
{{/TOC}} | {{/TOC}} | ||
| + | |||
| + | === Costco Card Options === | ||
| + | |||
| + | Both a personal and business version are available—they have identical reward rates and benefits. | ||
=== Collecting the Signup Bonus === | === Collecting the Signup Bonus === | ||
| − | '''There is none'''. Rather than applying directly, you could wait until you need to cancel a different Citibank card, and downgrade it to the Costco card instead. This lets you avoid an additional credit card application | + | '''There is none''' (other than an occasional tote bag or some other minor benefit). Rather than applying directly, you could wait until you need to cancel a different Citibank card, and then downgrade it to the Costco card instead. This lets you avoid an additional credit card application. |
| − | === | + | === Notable Benefits === |
None. | None. | ||
| Line 67: | Line 71: | ||
<ul class="bulletlist"> | <ul class="bulletlist"> | ||
| − | <li>''' | + | <li>'''Bonus rewards for travel and restaurants are good for a no-annual-fee card, but you can earn more valuable rewards with other cards'''. And if you spend a significant amount in these categories, you are better off paying an annual fee for one of the cards that offers significantly higher reward rates. {{Link|Travel Spending}}. {{Link|Restaurant Spending}}.</li> |
| − | <li>'''4% back on gas is very good'''. However, you can earn even more with a handful of other cards | + | <li>'''4% back on gas is very good'''. However, since you can earn even more with a handful of other cards, it doesn't make sense to get this card just to optimize the rewards on your gas purchases. {{Link|Gas Spending}}.</li> |
| − | <li>'''2% back at Costco is not very interesting'''. You should be already | + | <li>'''2% back at Costco is not very interesting'''. You should be already earning at least that from your general-purpose reward card. {{Link|general purpose}}.</li> |
{{Bonus Everyday|plural}} | {{Bonus Everyday|plural}} | ||
| − | </ul> | + | </ul> |
=== Getting Rid of the Card === | === Getting Rid of the Card === | ||
| − | You can't convert the Costco card to any other card. | + | <ul class="bulletlist"> |
| + | <li>'''If you cancel at any other time than February, you'll lose any accumulated rewards'''. That's when you receive your Costco credit card rewards (along with any Costco Executive membership rewards). And if you cancel your Costco membership, they will automatically cancel your associated credit card.</li> | ||
| + | |||
| + | <li>'''You can't convert the Costco card to any other card''', even though it is a Citibank card.</li> | ||
| + | </ul> | ||
{{/Main|card}} | {{/Main|card}} | ||
{{/Page|card}} | {{/Page|card}} | ||
Latest revision as of 02:31, 19 February 2021
Citibank Credit Cards
Citibank Webpage Costco Webpage
Business Version Available
Send comments or suggestions to editor@travelstrategies.com or leave a comment below.
Annual Fee
No annual fee
Typical Signup Offer
None
Signup Bonus ChartBonus Categories
4% Gas
3% Travel
3% Restaurants
2% Costco Purchases
1% Everywhere Else
No Foreign Transaction Fee
The Costco card earns some of the best bonus rewards of any no-annual-fee card. You'll get 3% on travel and restaurants and 4% on gas. If you already have a Costco membership and you don't spend enough money to justify paying annual fees for a card that earn more valuable rewards, it is a good option for these categories. But better reward rates are available from many fee-based credit cards.
Jump to:
Costco Card Options
Both a personal and business version are available—they have identical reward rates and benefits.
Collecting the Signup Bonus
There is none (other than an occasional tote bag or some other minor benefit). Rather than applying directly, you could wait until you need to cancel a different Citibank card, and then downgrade it to the Costco card instead. This lets you avoid an additional credit card application.
Notable Benefits
None.
Bonus Categories
- Bonus rewards for travel and restaurants are good for a no-annual-fee card, but you can earn more valuable rewards with other cards. And if you spend a significant amount in these categories, you are better off paying an annual fee for one of the cards that offers significantly higher reward rates. Best Credit Cards for Travel Spending. Best Credit Cards for Restaurant Spending.
- 4% back on gas is very good. However, since you can earn even more with a handful of other cards, it doesn't make sense to get this card just to optimize the rewards on your gas purchases. Best Credit Cards for Gas Spending.
- 2% back at Costco is not very interesting. You should be already earning at least that from your general-purpose reward card. Get a Great General Purpose Reward Card and Use It for All of Your Spending.
- You don't want to use these cards for your everyday spending. You'll earn higher rewards from a good general-purpose reward card. Get a Great General Purpose Reward Card and Use It for All of Your Spending.
Getting Rid of the Card
- If you cancel at any other time than February, you'll lose any accumulated rewards. That's when you receive your Costco credit card rewards (along with any Costco Executive membership rewards). And if you cancel your Costco membership, they will automatically cancel your associated credit card.
- You can't convert the Costco card to any other card, even though it is a Citibank card.