Citi is offering 5% cash back rewards on gas at Costco and earn 4% cash back on other eligible gas and electric vehicle (EV) charging purchases for the first $7,000 combined spend per year, and then 1% thereafter with the Costco Anywhere Visa® Card by Citi for Costco Members. No annual fee.
Details:
Discover one of Citi's best cash back rewards cards designed exclusively for Costco members
Earn 5% cash back rewards on gas at Costco and earn 4% cash back on other eligible gas and electric vehicle (EV) charging purchases for the first $7,000 combined spend per year, and then 1% thereafter.
3% cash back on restaurants and eligible travel purchases and eligible travel, including Costco Travel.
2% cash back on all other purchases from Costco and Costco.com
1% cash back on all other purchases
No annual fee with your paid Costco membership and enjoy no foreign transaction fees on purchases
Receive an annual credit card reward certificate, which is redeemable for cash or merchandise at U.S. Costco warehouses, including Puerto Rico
Citi is offering 5% cash back rewards on gas at Costco and earn 4% cash back on other eligible gas and electric vehicle (EV) charging purchases for the first $7,000 combined spend per year, and then 1% thereafter with the Costco Anywhere Visa® Card by Citi for Costco Members. No annual fee.
Details:
Discover one of Citi's best cash back rewards cards designed exclusively for Costco members
Earn 5% cash back rewards on gas at Costco and earn 4% cash back on other eligible gas and electric vehicle (EV) charging purchases for the first $7,000 combined spend per year, and then 1% thereafter.
3% cash back on restaurants and eligible travel purchases and eligible travel, including Costco Travel.
2% cash back on all other purchases from Costco and Costco.com
1% cash back on all other purchases
No annual fee with your paid Costco membership and enjoy no foreign transaction fees on purchases
Receive an annual credit card reward certificate, which is redeemable for cash or merchandise at U.S. Costco warehouses, including Puerto Rico
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I'm sure it's been mentioned and buried but extended warranty benefit goes away next month which sucks
Uhh yeah I have an Amex, this is not true lol
I'm sure citi fought hard in the bidding process to beat Amex to get the Costco account. Part of the terms were probably to offer better benefits for the customer....
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Your reward is distributed annually via U.S. Mail in the form of a reward coupon included in your February billing statement, and is redeemable through December 31 of the year issued in a single transaction at any U.S. Costco warehouse
I was hoping that this would change to just being a credit linked to your card, like the BJs one. So much more convenient.
I'm on the fence about this. I declared Citibank dead to me back in 2009, but the 4% on gas is pretty nice. Other than that it's only 1% better than AmEx Blue Preferred which I already have, though. Considering the one quarter on Chase Freedom will be 5%, this is only worth maybe $15-20/year.
But then again, it accounts for zero net cards carried in my wallet
After this announcement, is there a reason you'd carry an $85/year card? Do you buy a lot of groceries outside of Costco?
Interesting question.
To max out the AmEx Blue Cash Preferred groceries category for the year, you only need to spend $6,000 in groceries. That's $500 per month. That's not much. Now, this assumes that you can't fulfill all of your grocery needs at Costco, which we personally can't.
6% (AmEx Blue Cash Preferred groceries category) on 6,000 is $360. Minus $75 (annual fee) is $285. That's what you get for groceries on the AmEx Blue Cash Preferred - $285.
Since the Citi Costco doesn't cover non-Costco groceries, the best you'll get from any other combinations of cards is the Citi Double Cash 2%, along with the Discover IT/Chase Freedom rotating 5% on groceries. Generously assuming that average between the Citi Double Cash and the Discover IT/Chase Freedom cashback on groceries over the course of the year is about 3% (Citi Double Cash year-round + Discover/Chase occasional 5%), that would be $180 in groceries cash back. AmEx Blue Cash Preferred is $100 over that, even with the annual fee.
Is $100 worth it? Not sure. We currently have the AmEx Everyday, but are thinking about upgrading to the Blue Cash Preferred. No real downside if there's no credit pull. Alternatively, we could wait for the AmEx Preferred $250 sign-up and open a new account. Then you get the 6% as above, along with $250, which is basically 2.5 years worth of the card's cash back. That's probably the best option, although I would be left with a useless Blue Cash Everday. I suppose I could have my girlfriend open a Blue Cash Preferred with the sign-up and 6%, then I could upgrade mine, and then once we hit the $6,000, we can switch to the other card and also get 6%. Now we're talking, as that's basically 6% on $12,000 in groceries, which is unlimited for us as we're a young couple.
EDIT: if you go incognite/private mode, the AmEx Blue Cash Preferred still has the $250 sign-up bonus. They advertise a max of $450, as you can get 10% back at a wireless provider. Very nice if you're buying a phone in the near future.
I had a serious doubt about the credit limit carry forward from Amex to Citi.
If I had $1000 credit limit , do I get the SAME or a better(as per my credit score now) ? Not sure about it
Normally all other credit card companies will give you credit limit better than Amex.
when will they start accepting VISA? i know it says June 20th for the Costco Visa but will they accept other VISA cards before that? Im thinking of my chase freedom thatll have 5% back at warehouse stores starting in April
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I'm on the fence about this. I declared Citibank dead to me back in 2009, but the 4% on gas is pretty nice. Other than that it's only 1% better than AmEx Blue Preferred which I already have, though. Considering the one quarter on Chase Freedom will be 5%, this is only worth maybe $15-20/year.
But then again, it accounts for zero net cards carried in my wallet
Not much need for Amex anymore unless there's a bonus sign up offer.
By the way, Penfed Amex has 5x on airline ticket purchases if purchased directly from an airline.
Both cards do not have foreign transaction fee and I believe both have CHIP-and-PIN capability.
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CYA AMEX.
To max out the AmEx Blue Cash Preferred groceries category for the year, you only need to spend $6,000 in groceries. That's $500 per month. That's not much. Now, this assumes that you can't fulfill all of your grocery needs at Costco, which we personally can't.
6% (AmEx Blue Cash Preferred groceries category) on 6,000 is $360. Minus $75 (annual fee) is $285. That's what you get for groceries on the AmEx Blue Cash Preferred - $285.
Since the Citi Costco doesn't cover non-Costco groceries, the best you'll get from any other combinations of cards is the Citi Double Cash 2%, along with the Discover IT/Chase Freedom rotating 5% on groceries. Generously assuming that average between the Citi Double Cash and the Discover IT/Chase Freedom cashback on groceries over the course of the year is about 3% (Citi Double Cash year-round + Discover/Chase occasional 5%), that would be $180 in groceries cash back. AmEx Blue Cash Preferred is $100 over that, even with the annual fee.
Is $100 worth it? Not sure. We currently have the AmEx Everyday, but are thinking about upgrading to the Blue Cash Preferred. No real downside if there's no credit pull. Alternatively, we could wait for the AmEx Preferred $250 sign-up and open a new account. Then you get the 6% as above, along with $250, which is basically 2.5 years worth of the card's cash back. That's probably the best option, although I would be left with a useless Blue Cash Everday. I suppose I could have my girlfriend open a Blue Cash Preferred with the sign-up and 6%, then I could upgrade mine, and then once we hit the $6,000, we can switch to the other card and also get 6%. Now we're talking, as that's basically 6% on $12,000 in groceries, which is unlimited for us as we're a young couple.
EDIT: if you go incognite/private mode, the AmEx Blue Cash Preferred still has the $250 sign-up bonus. They advertise a max of $450, as you can get 10% back at a wireless provider. Very nice if you're buying a phone in the near future.
If I had $1000 credit limit , do I get the SAME or a better(as per my credit score now) ? Not sure about it
Costco is excluded
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