Being one of the largest hypermarket chains in the world, Costco offers its customers its own credit cards, which fit perfectly into its price club system.
Just as Amazon offers some credit card options to make shopping easier for its customers, Costco also has its own options that are backed by Citi Bank. These credit cards, in addition to working for other purposes, offer special benefits on purchases made within this chain, whether in the United States or outside its territory, in any of the different locations that exist in the world through of the Visa network.
To obtain one of Citi Bank’s Costco credit cards, interested persons can complete an online application or call 1-800-970-3019, the number intended for telephone applications.
What Costco cards can I apply for in the United States?
Currently, Costco offers its customers two credit card options, each with its own characteristics, which fit the price club system of this chain of stores but also offer the advantages of a credit card. Citi Bank standard:
Costco Anywhere Visa Card from Citi – Best Costco Credit Card for Average Customers
Main features:
– Exclusive for members of Costco, that is, those interested must have a membership in the chain.
– Provides cash back as an annual credit card reward certificate once the February statement closes and can be redeemed for cash or merchandise at US Costco stores.
– Offers 4% cash back on eligible gas if customer spends $7,000 per year. After that time, 1%.
– Offers 3% cash back on restaurants and eligible travel purchases.
– Offers 2% cash back on all other Costco and Costco.com purchases
– Offers 1% cash back on all other purchases.
– Does not apply charges abroad.
– APR: 18.99%, will vary by market depending on the prime rate.
– Annual fee: does not apply.
Costco Anywhere Visa Business Card from Citi – Best Costco Credit Card for Small Business Owners
Main features:
– The applicant must be an authorized officer and controlling party of the business entity in order to apply, i.e. must be a key person who controls the business or owns the business at a level of 25% or more.
– Exclusive to Costco members. Requires a membership in the chain.
– Cash back is provided as an annual credit card reward certificate once your February Citi statement closes and is redeemable for cash or merchandise at US Costco stores.
– Offers 4% cash back on eligible gas if customer spends $7,000 per year. Then 1%.
– Offers 3% cash back on restaurants and eligible travel purchases.
– Offers 2% cash back on all other Costco and Costco.com purchases
– Offers 1% cash back on all other purchases.
– Does not apply charges abroad.
– APR: 18.99%, will vary by market depending on the prime rate.
– Annual fee: does not apply.
What is the best Costco credit card option?
Unlike other chains, Costco offers only two options, each perfectly defined for each group: the first one is aimed at average customers and the second one for those who are merchants. In that sense, determining which is the most convenient option will depend, directly, on the case of each client and his financial needs.
Each card also claims its own requirements. So the average customer doesn’t have the means to apply for a Costco business credit card, and if they could, they wouldn’t benefit because they don’t handle a merchant’s numbers.