Costco Anywhere Visa® Business Card Review

The Costco Anywhere Visa® Business Card is a great option for small businesses looking to do business with the wholesale industry. It’s not only easy on your wallet, but it offers competitive benefits that are sure to make you smile.

Anywhere Costco Citi’s Visa® Business Card

• For the first $7,000 every year, get 4% cash back on qualified gas worldwide, including petrol at Costco, and then get 1% after that.
• 3 percent cash back on qualified restaurant and travel purchases made anywhere in the globe.
• All other Costco and Costco.com purchases will earn you 2% cash back.
• All other purchases will earn you 1% cash back.

Pros

• Costco gas incentives are among the best in the industry.
• There is no yearly charge.

Cons

• Costco is the only place where you may use your rewards.
• There are no bonuses, to begin with.
• Purchase Insurance: If an item bought with your business Costco card or your reward certificate is damaged or stolen within 120 days of purchase, or 90 days if you live in New York, the issuer may restore or refund you.

The Anywhere Costco Citi’s Visa® Business Card is a cash-back credit card designed exclusively for business owners who are Costco members. This business credit card offers cash back rewards in the form of an annual reward certificate that is redeemable for cash or merchandise at the United States Costco Warehouses.

Best For;

• Owners who are Costco members: An active Costco membership is required to apply for Anywhere Costco Citi’s Visa® Business Card.
• Costco members who have up to $7,000 in annual gas expenses: The Anywhere Costco Citi’s Visa® Business Card offers premium rewards on gasoline spending at 4% for the first $7,000 per year.

How Do We Determine Which Cash Back Business Credit Cards Are Best?

We give the most weight to continuing benefits when assessing cash back business credit cards like the Costco Anywhere Visa® Business Card. We consider initial bonuses to be significantly less valuable, but they are still the second most important aspect in determining a card’s grade. The annual fee, introductory and continuing annual percentage rates (APRs), and other card advantages are also considered.

Pricing

• Ongoing Annual Percentage Rate (APR): 15.24 percent variable, based on prime rate.
• There is no annual cost, but you must be a Costco member to be eligible.
• Fee for balance transfers: Transfers are not permitted.
• Fees for international transactions: none
• Cash advance fee: Either $10 or 5% of each cash advance amount, whichever is larger; APR is 25.24 percent.

Reward Program

• For the first $7,000 spent on qualified gas purchases globally, including petrol at Costco, you’ll get 4% cash back, then 1% after that.
• Restaurants and qualified travel purchases worldwide, including Costco Travel, get 3% cash back.
• All other Costco and Costco.com purchases will earn you 2% cash back.
• All other purchases will earn you 1% cash back.

Once your February billing statement ends, you may redeem your cash back rewards once a year in the form of an annual reward certificate. This certificate is valid at US Costco Warehouses for cash or items until December 31 of the year in which it was issued.

You’ll get the leftover balance in cash at checkout if the amount redeemed for products is less than your total cash back earnings. If you earn less than $1 throughout the year or your account is canceled at the time Costco is due to deliver the certificate, you will not get a credit card reward certificate. Costco may send you a cheque or an electronic transfer if you earn more than $10,000 in cash back incentives.

Benefits

Insurance for car rentals all around the world

If you hire a vehicle using your Citi Costco business card, you’ll be insured up to $50,000 in the event of an accident or theft for rentals of fewer than 31 days. Because the coverage is primary, you won’t need to utilize your own vehicle insurance or accept the rental agency’s insurance. The vehicle must have at least four wheels and be operated on public roads to be qualified. Certain situations, including breaking the rental agreement, failing to take proper care of the rental automobile, and operating the rental car for hire, are not covered.

Purchase Insurance

Citi may replace or pay damaged or stolen products acquired within 120 days of purchase, or 90 days for New York residents. Coverage is restricted to $10,000 per item, with a total annual maximum of $50,000 per account. Motorized vehicles, consumables, perishable commodities, cash equivalents, and tickets are among the items that are not covered.

Warranty Extension

Citi will extend the original manufacturer’s warranty for an extra 24 months after it expires. The issuer will replace the item or refund you up to $10,000 for purchases made with your Costco Anywhere Visa® Business Card or your reward voucher. The duration of coverage is limited to seven years from the date of purchase. Motorized vehicles, tires, real estate, pre-owned products, and things that do not come with a manufacturer’s guarantee are not covered.

Insurance for Travel Accidents

If you die or lose a limb, sight, speech, or hearing in an aircraft, rail, boat, or cruise ship accident while using your Costco Anywhere Visa® Business Card, Citi will offer up to $1 million in coverage. Only in the case of death will Citi pay out the full coverage. Injuries are eligible for coverage ranging from $250,000 to $500,000. Losses incurred as a consequence of a riot or act of war, injuries or death sustained when traveling in a taxi, car service, rental vehicle, or ridesharing service, and losses incurred while participating in extreme sports are not covered by this policy.

Assistance with Travel and Emergencies

The 24-hour travel, emergency, medical, and legal help is available to cardholders, immediate family members, and approved traveling companions. It’s vital to remember that this is merely a concierge service, which means the cardholder is liable for any costs incurred as a result of the help. In the United States, dial 866-918-4670 for assistance, or call 312-356-7839 for international assistance.

Alternatives to the Anywhere Costco Visa® Business Card

Credit Card Ink Business Cash®

• After spending $7,500 on purchases in the first three months after creating your account, you’ll get $750 extra cash back.
• Each account anniversary year, get 5% cash back on the first $25,000 spent in combined purchases at office supply retailers and on internet, cable, and phone services.
• Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn All other purchases will earn you 1% cash back.
• Your card transactions will be monitored for probable signals of fraudulent activity utilizing real-time fraud monitoring with Fraud Protection.
• You won’t be held liable for fraudulent charges made using your card or account information if you have Zero Liability.
• There is no yearly charge.
• With Chase Ultimate Rewards®, you may get cash back, gift cards, travel, and more.
• On purchases, there is a 0% introductory APR for the first 12 months.

Pros

• On purchases, there is an introductory APR.
• Sign-up bonus in cash

Cons

• Balance transfers are not eligible for the 0% APR.
• A Balance transfer fees are 5%. is charged.
• Designed mostly for office-based businesses.

Features

• Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes. It provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the United States and abroad.
• Purchase Insurance: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year.
• Warranty Extension protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of 3 years or less.

The American Express Blue Business CashTM Card

• After you spend $3,000 on your Card in the first three months, you’ll get a $250 statement credit.
• Earn 2% cash back on all qualifying purchases up to $50,000 per calendar year, after which you’ll get 1%. Earned cash back is immediately added to your account.
• Always keep in mind that the amount you may spend above your credit limit is restricted. It changes based on your Card use, payment history, credit history, financial resources known to American Express, and other variables.
• Purchases are tax-free, there is an introductory APR. for 12 months from the date of account opening, then a variable rate, 13.24% – 19.24%, based on your creditworthiness and other factors as determined at the time of account opening.
• There is no yearly charge.
• Terms and Conditions apply.

Pros

• On every purchase, get a constant 2% cash back incentive.

Cons

• Offers no Sign-up bonus in cash
• The 2% cash back category has a limit of $50,000 in yearly expenditure.

Features

• Warranty Extension protection: American Express provides up to an additional year of coverage on warranties of up to 5 years. Coverage is limited to $10,000 per occurrence and $50,000 per account each year.
• Purchase Insurance: The issuer will repair, replace, or reimburse you for an item purchased with the card that was damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per occurrence and $50,000 per account each year.
• Baggage insurance: If your luggage is damaged or lost when you travel on a common carrier, such as a plane, trip, ship, or bus, American Express will reimburse you for losses not covered by your own personal insurance.

Chase Ink Business Unlimited®

• After spending $7,500 on purchases in the first three months after creating your account, you’ll get $750 extra cash back.
• Earn an unlimited amount of 1.5 percent cash back on all purchases made for your company.
• There is no yearly charge.
• With Chase Ultimate Rewards®, you may get cash back, gift cards, travel, and more.
• Employee cards allow you to earn rewards quicker and at no extra expense. To get more control over your spending, set specific spending limitations.
• Your card transactions will be monitored for probable signals of fraudulent activity utilizing real-time fraud monitoring with Fraud Protection.
• You won’t be held liable for fraudulent charges made using your card or account information if you have Zero Liability.
• On purchases, there is a 0% introductory APR for the first 12 months.

Pros

• Purchases are tax-free, and there is an introductory APR.
• On all purchases, you’ll get unlimited cash back incentives.

Cons

• Balance transfers are not eligible for the introductory APR period.
• Balance transfer fees are 5%.

Features

• Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes; it provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the US and abroad
• Purchase Insurance: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year
• Warranty Extension protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of three years or less

Conclusion

The Costco Anywhere Visa® Company Card is designed for Costco members who operate a business. You may get Costco cash back rewards on every purchase with this business credit card. If you are not a Costco member, you should look into other best business credit cards to see if one is perfect for you.