Costco Anywhere Visa Business Card review: A dependable choice for business owners who are loyal to Costco

Overview of the Costco Anywhere Visa® Business Card from Citi

The Costco Anywhere Visa® Business Card from Citi (see rates and fees) is a viable option for small businesses seeking cash-back rewards and possessing a Costco membership.

While its name suggests otherwise, the card earns bonus rewards not just on Costco purchases, making it beneficial for many small businesses that frequently shop at Costco. Card Rating*: ⭐⭐⭐

*Card Rating reflects the assessment of TPG's editors and is not swayed by the card issuer.

The Costco Anywhere Visa Business Card is an excellent option for small businesses that either have a Costco membership or can save enough through Costco shopping to make it worthwhile. If your business frequently spends on gas, travel, or dining, you may find it beneficial. However, since this card offers cash-back rewards, it is ideally suited for companies that prefer straightforward cash back over maximizing points or miles.

The Costco Anywhere Visa Business Card comes with no annual fee, but both you and any authorized users must each hold a Costco membership. A Costco membership costs $65 per year plus taxes for Gold Star and Business members (an upgrade to Executive membership is available for an extra $65 per year plus taxes).

Affiliate Business members added to a Business membership will each need to pay $65 per year plus taxes. Therefore, Costco membership fees can accumulate quickly if you have multiple employees as authorized users on your card.

To qualify for this card, TPG suggests having a credit score of at least 750, although approvals can still occur with lower scores.

If you or your small business holds a Costco membership—or are thinking of getting one—this review can assist you in figuring out if the Costco Anywhere Visa Business Card by Citi could be advantageous for your business.

Pros and cons of the Costco Anywhere Visa® Business Card

Welcome offer for the Costco Anywhere Visa Business Card

The Costco Anywhere Visa Business Card does not promote a sign-up bonus. However, you might receive a targeted special offer at a Costco warehouse or upon signing up for a Costco membership.

Benefits of the Costco Anywhere Visa Business Card

The Costco Anywhere Visa Business Card offers some useful benefits. Firstly, your card also serves as your Costco membership ID. Unlike many store cards, it can be used anywhere that accepts Visa around the globe. Plus, there are no foreign transaction fees for purchases made outside the U.S.—a significant advantage for business travelers.

As noted, you can add employees as authorized users, but each must have their own Costco membership.

Additionally, cardholders will enjoy the following benefits:

• Damage & theft purchase protection
• Lost baggage coverage
• Travel and emergency assistance
• Global car rental insurance
• Travel accident coverage
• Roadside assistance dispatch service
• Access to Citi Entertainment®

If you hold a $130-per-year Executive membership with Costco, you can earn an annual 2% reward (up to $1,250 back each year) on eligible Costco purchases. While the Executive membership is generally only beneficial if you spend at least $250 monthly on qualifying purchases at Costco, this extra 2% reward can be combined with the Costco Anywhere Visa Business Card.

Together, using the Costco Anywhere Visa Business Card and an Executive membership, you could earn 5% on qualifying Costco Travel purchases and 4% on other eligible Costco purchases.

Unfortunately, the Executive membership terms and conditions exclude various purchases, such as tobacco products, gasoline, Costco Shop Cards, postage stamps, certain alcoholic beverages, prescription purchases in some states, food court purchases, and specific travel expenses (including surcharges, gratuities, trip protection, travel booked through a third party, upgrades, rental car equipment, resort fees, and port charges).

Earning with the Costco Anywhere Business Visa

With the Costco Anywhere Visa Business Card, you'll earn rewards across various categories. Interestingly, despite it being a cobranded Costco credit card, purchases at Costco do not yield the highest rewards rate. Let’s delve deeper into the card's bonus categories.

Here’s how you can earn points with the Costco Anywhere Business Visa:

• 4% back on eligible gas worldwide (including gas at Costco) for the first $7,000 in eligible gas and EV charging purchases each year (then 1%). Gas bought at superstores, supermarkets, convenience stores, and other warehouse clubs outside of Costco, as well as fuel used for non-automobile purposes, earns only 1%.
• 3% back at restaurants and on eligible travel purchases globally. Restaurants encompass cafes, bars, lounges, and fast-food spots. Purchases from bakeries and certain restaurants/cafes within department stores, grocery stores, or warehouse clubs do not qualify and will earn only 1%. Eligible travel purchases cover airfare, hotels, car rentals, travel agencies, cruise lines, and Costco Travel, but exclude train travel, commuter travel, and purchases made at timeshares, campgrounds, and bed and breakfasts.
• 2% back on purchases made at Costco and Costco.com.
• 1% on all other purchases.

Redeeming rewards with the Costco Anywhere Visa Business Card

The Costco Anywhere Visa Business Card provides cash-back rewards, which are distributed annually. After your February billing statement closes, you will receive a reward certificate for your Costco Cash Rewards balance, based on purchases recorded on the previous year's billing statements from January to December.

Keep in mind that if your annual reward exceeds $10,000, it may be issued in a different format, such as a check or electronic transfer.

You must redeem your credit card reward certificate in person at any U.S. Costco warehouse (including Puerto Rico) by December 31 of the year the certificate was issued. The certificate can be used for merchandise or cash back. If you use it for merchandise and your purchase is less than the certificate's value, you'll receive the leftover balance in cash at checkout.

You will not receive a credit card reward certificate if your reward is under one dollar or if you close your account before the certificate is sent. Maintaining your Costco membership is necessary to redeem your credit card reward certificate. Additionally, some warehouses may restrict the use of the certificate for alcohol purchases.

Which cards rival the Costco Anywhere Business Visa Card?

If you're in search of a cash-back business credit card, there are several options that can rival the Costco Anywhere Visa Business Card. The best card(s) for your business will largely depend on your primary spending categories. Keep in mind that only Visa credit cards are accepted at Costco warehouses. Here are some other cards worth considering:

• If you're looking for a non-business card: The Costco Anywhere Visa® Card by Citi (see rates and fees) is the consumer equivalent of the Anywhere Visa Business card. Both cards offer the same benefits and earning structures. For more information, see our complete review of the Costco Anywhere Visa.
• If you prefer straightforward cash back: The Ink Business Unlimited® Credit Card gives you 1.5% back on all purchases and has no annual fee. If you hold an Ultimate Rewards earning card like the Chase Sapphire Preferred® Card, you can enhance your redemption options by accessing Chase's transfer partners. For further details, see our full review of the Ink Business Unlimited.
• If you want flexibility and additional perks: The Capital One Venture X Business offers unlimited 2 miles per dollar on all purchases and boasts access to an impressive array of over 15 transfer partners. While it does have a $395 annual fee, this can be offset by the card's robust travel protections, an annual $300 travel credit, lounge access, and a bonus of anniversary miles. For more information, see our full review of the Capital One Venture X business.

For more options, explore our complete list of the best business cash-back credit cards and top store credit cards.

Is the Costco Anywhere Visa Business Card worth it?

If you're a business owner, hold a Costco membership, and frequently shop at Costco, the Costco Anywhere Visa Business Card is worth considering. It features a strong rewards structure covering a variety of purchases, including gas, dining, travel, and Costco shopping. With no annual fee and additional cash back for Executive members, it can be a valuable addition to your wallet. However, keep in mind that redemption options for cash back are limited, so if you seek more flexibility, other cards may be a better fit.

Conclusion

The Costco Anywhere Visa Business Card is a cash-back rewards credit card exclusively for Costco members. Cash-back rewards are granted only once a year, and you'll need to visit a U.S. warehouse location (including those in Puerto Rico) to claim your rewards—this could be inconvenient for businesses looking for more immediate access to their rewards.

However, if your business can benefit from a Costco membership and values cash-back rewards, adding the Costco Anywhere Visa Business Card could be advantageous. This card is particularly useful if you're already a Costco member and your business frequently incurs significant expenses on gas, dining, travel, or Costco purchases.