Costco Switches to New Citi Visa Card

costcovisaISSAQUAH, WA, NEW YORK and SAN FRANCISCO — Starting today, Costco is launching a new credit card with Visa, replacing long-time partner American Express. The Costco Anywhere Visa Card by Citi and Costco Anywhere Visa Business Card by Citi are available exclusively to Costco members. With generous cash back opportunities and benefits, the new cards enable cardmembers to earn cash back rewards on all purchases. Today also marks the first day that Costco begins accepting only Visa branded credit cards in its warehouse and gas locations across the U.S. and in Puerto Rico.

With either the new consumer or business card, cardmembers will earn:

  • 4% cash back rewards on eligible gas worldwide for the first $7,000 and then 1% thereafter
  • 3% cash back rewards on restaurant and eligible travel purchases worldwide
  • 2% cash back rewards on all other purchases from Costco and Costco.com
  • 1% cash back rewards on all other purchases, with no limit on earnings potential

“We have a strong relationship with our members and it’s important that we’re rewarding their loyalty to us,” said Craig Jelinek, CEO and President, Costco. “Our new co-brand credit card agreement with Citi on the Visa network enables us to offer significant value and benefits for our members across 494 locations in the U.S. and Puerto Rico.”

In addition to offering cash back and doubling as a Costco membership card, the cards also provide a broad range of built-in, comprehensive benefits including:

  • Damage & Theft Protection
  • Extended Warranty
  • Worldwide Car Rental Insurance
  • Worldwide Travel Accident Insurance
  • Trip Cancellation and Interruption Protection

“Costco revolutionized the way that Americans shop and with this new card, we hope to revolutionize the way they pay,” said Jud Linville, Chief Executive Officer, Global Cards and Consumer Services, Citi. “With chip technology, worldwide acceptance, and the opportunity for rich cash back rewards, this card is one of a kind.”

“Today is an exciting milestone for Visa and our cardholders who can now pay with any Visa credit or debit card when shopping at Costco,” said Ryan McInerney, President, Visa Inc. “Visa acceptance and the introduction of the Costco Anywhere Visa Card by Citi is just the start of us bringing new experiences and benefits to current and future Costco members.”

Existing Costco credit cardmembers should have already received the new Costco Anywhere Visa Card by Citi and the card is now available for use. Cash back rewards that were not previously distributed will be transferred automatically to the new card.

There is no annual fee for the Costco Citi Visa with paid Costco membership.

Costco members who would like to apply for the new Costco Anywhere Card can do so beginning today in Costco warehouses or at citicards.com.