Costco's Credit Card Program
Yes, Costco has a credit card called the Costco Anywhere Visa Card by Citi. It is the only credit card Costco issues directly, and you must be a Costco member to hold one. The card works at Costco warehouses, Costco.com, and at any merchant that accepts Visa.
Costco stopped issuing its own branded Mastercard in 2015 and switched to this Visa product through Citibank. If you held an older Costco Mastercard, it remained active until expiration, but you could not renew it as a Costco card—you had to move to the Visa version or use a different payment method.
The card is issued by Citibank, not by Costco itself. Citi handles the account, billing, customer service, and dispute resolution. Costco handles membership verification and the rewards structure.
Key Takeaways
- The Costco Anywhere Visa Card is the only credit card Costco offers, and membership is required to hold it.
- You earn 2% cash back on Costco purchases, 1% on other Visa purchases, and higher rates on gas and travel depending on where you shop.
- The annual fee is $65 for the standard card and $130 for the Executive version, which also includes a 2% annual reward on Costco purchases.
- You can open an account through Costco.com, in a warehouse, or by calling Citi directly at the number on Costco's website.
- Cash back is paid once per year as a Costco Shop Card that you can use immediately or let sit in your account.
Rewards Structure and Cash Back
The standard Costco Anywhere Visa Card earns 2% cash back on all Costco and Costco.com purchases. On purchases outside Costco, you earn 1% cash back. There is no category bonus for groceries, gas, or travel outside Costco—the 1% rate applies to everything else.
The Executive version costs $130 per year instead of $65 and adds a 2% annual reward on Costco purchases. This means if you spend $10,000 at Costco in a year, you receive an extra $200 as a Costco Shop Card on top of the standard 2% cash back. The Executive card still earns 1% on non-Costco purchases.
Cash back is not paid monthly or quarterly. Instead, Citi calculates your total cash back once per year and issues it as a Costco Shop Card—a prepaid card loaded with your rewards balance. You receive this card by mail, usually in February or March. You can use it immediately at Costco or let the balance sit if you do not plan to shop soon.
If you close the account before the annual cash back is issued, you forfeit any rewards earned that year. The cash back does not roll over to the next year if you do not spend it.
Annual Fees and When They Are Charged
The standard card has a $65 annual fee. The Executive card has a $130 annual fee. Both fees are charged to your card on the anniversary of your account opening, not on a calendar date.
If you cancel the card before the anniversary date, you are not charged the annual fee for the next year. If you are charged and then cancel within 30 days, Citi will refund the fee if you request it. After 30 days, the fee is not refundable.
The annual fee is separate from your Costco membership fee. You pay both to maintain the card and your warehouse access.
How to Open a Costco Credit Card Account
You can open a Costco Anywhere Visa Card through three routes: online at Costco.com, in person at a Costco warehouse, or by phone through Citi.
To open an account online, go to Costco.com, find the credit card section, and click the link to apply. You will need your Costco membership number, which is printed on your membership card. The application takes about 10 minutes. Citi will tell you immediately whether you are approved, and the card ships within 7 to 10 business days.
In a warehouse, visit the membership desk and ask for a credit card application. A staff member will help you complete it on a tablet or paper form. Approval happens the same day, and the card is mailed to you.
By phone, call the number listed on Costco's credit card page. A Citi representative will walk you through the application. You will need your Social Security number, income, and Costco membership number. Approval is immediate, and the card ships within a week.
All three routes require you to be an active Costco member. If your membership has expired, you must renew it before you can open a credit card account.
Interest Rates and How Balances Work
The Costco Anywhere Visa Card is a standard revolving credit card. If you carry a balance, you pay interest on that balance at the card's variable APR. The APR varies based on your creditworthiness and market conditions; Citi does not publish a single rate.
When you make a purchase, it appears on your statement within one to three business days. You have a grace period—usually 21 to 25 days from the statement closing date—to pay the balance in full without interest. If you pay only part of the balance, interest accrues on the remaining amount starting immediately.
Interest is calculated daily on your outstanding balance and added to your statement each month. If you carry a balance from one month to the next, you will pay interest on that balance until it is paid off, even if you make new purchases and pay those in full.
You can check your current APR by logging into your Citi account online or calling the customer service number on the back of your card.
Closing Your Costco Credit Card Account
You can close the Costco Anywhere Visa Card at any time by calling Citi at the number on your statement or by logging into your online account. There is no penalty for closing the card early, but you will lose access to the rewards structure and the annual cash back issued that year.
If you close the account and then want to reopen it, you can apply again through the same three routes. Citi will review your application as a new account, and approval is not may provide.
Closing the card does not affect your Costco membership. You can continue to shop at Costco using your membership card and pay with a different payment method.
If you have an outstanding balance when you close the account, you still owe that balance and will continue to receive statements from Citi until it is paid off. Interest will continue to accrue on any unpaid balance.
Costco Membership and Credit Card Requirements
You must have an active Costco membership to hold the Costco Anywhere Visa Card. Costco membership is separate from the credit card and costs $65 per year for a Gold Star membership or $130 per year for an Executive membership.
If your Costco membership expires, your credit card remains active, but you cannot use it at Costco warehouses until you renew your membership. You can still use the card at other Visa merchants and on Costco.com if you log in with a valid membership number.
If you cancel your Costco membership, you can keep the credit card open, but it becomes a standard Visa card with no Costco rewards. You will still pay the annual fee and earn only 1% cash back on all purchases.
Frequently Asked Questions
Can I use the Costco credit card without a Costco membership?
No. You must be an active Costco member to open the card, and you must maintain membership to use the card at Costco warehouses. If your membership lapses, the card still works at other Visa merchants, but you lose the 2% cash back on Costco purchases.
What happens to my cash back if I close the card before the annual payout?
You forfeit any cash back earned that year. Cash back is only issued once per year as a Costco Shop Card. If you close the account before that date, the rewards are lost and cannot be transferred or refunded.
Can I downgrade from the Executive card to the standard card?
Yes. Contact Citi and request a downgrade. Your annual fee will be adjusted, and you will no longer earn the 2% annual Executive reward on Costco purchases. The change takes effect on your next billing anniversary.
Is there a sign-up bonus for opening a Costco credit card?
Costco does not currently offer a sign-up bonus for the Anywhere Visa Card. The rewards structure is the cash back earned on purchases only. Bonus offers change occasionally, so check Costco.com or ask at the membership desk for current promotions.
What do I do if I lose my Costco Shop Card with my cash back?
Contact Citi immediately. The Shop Card is a prepaid card, and if it is lost or stolen, Citi can issue a replacement. You will need to verify your identity and the card number if you have it. The replacement usually arrives within 7 to 10 business days.