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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Great, I hate AMEX. They screwed me about 15 years ago. Put them in the toilet . Yeh!
You can use Any VISA, so that opens up a lot more options for people.
Citi, B&A, Chase, , so what. They're all the same idiots. Wells Fargo last month froze my checking account because I didn't make a consumer transaction for 2 years. Oh wait, the rep said 1 year, Oh wait, another rep said 10 months. LOL. I DID make transactions with PayPal withdrawling my money from my checking account via purchase's on the internet.
So, don't think a bank's name makes any difference. They're all idiots.
Penfed Amex is straight 5% on all airfare purchases. I don't think it has to be directly through the airlines
Have you verified this? I'm always interested how the credit card companies know if we purchase airfare through third party sites (e.g. Expedia, Travelocity, etc.).
Correct. I've been waiting a LONG time to be able to use my Alaska Airlines VISA card, and I was not the happiest of people when they extended the switchover date from 4/1 to 6/20.
It may be a Northwest thing, z1ma8, but I, too, have less than zero interest in ANY City product or service.
Great it sounds like my end of year cash bonus will be closer to $400 instead of $330 with the higher cash back. AMEX is pushing HARD To not lose the business. Every time I login to site they hammer me to click link to take their Blue Card, not to mention the snail mailing received multiple times monthly. I'd say they're expecting to take a hit... see if 2016 Q4 earnings call mentions this. :-)
Same here. It seems every time I turn around, there is either an email, an actual mail piece to get their new card, or when I login as you mentioned.
Costco accounts for 10% of all the Amex cards issued so this is a huge hit for them. I love Amex so long as its free. Customer service is always domestic when I call in.
Anyone know if we will still get partial cash back from Amex this year?
No. The partial balance gets transferred to the new card. This is from the Citi website FAQ[citi.com].
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What happens to the rewards I've earned on my Costco card from American Express?
You won't lose any of the cash back rewards you've already earned from your Costco card from American Express. Rewards that were not previously distributed to you will be transferred automatically to your new card on June 20, 2016, so you won't lose any of the rewards you've already earned. Your February 2017 cash back rewards coupon from Citi will include cash back rewards earned on your Costco card from American Express during 2016 that were not previously distributed to you by American Express.
If your Costco card from American Express earned Membership Rewards® points, these points will not transfer to your new card. Contact American Express with any questions.
citi is making like no money with this costco thing.
Untrue which is why Citi bid for the contract against AmEx. It's almost the equivalent of a loss leader: Citibank knows Costco customers are a desirable demographic and betting they'll use the Citibank-issued card for purchases outside of Costco (i.e. merchant fees from non-Costco purchases) to make up for the zero or near zero merchant fee they'll extend to Costco in a similar way AmEx did.
AmEx isn't cutting jack. Companies like Costco, JetBlue, Starwood, et al shopped around, found a better deal elsewhere and took their millions of customers with them.
Anyone that thinks a credit card company wouldn't want to be in Costco customers' wallets is clueless. In the end, AmEx couldn't make it work for them, but that means they didn't try. But, it's a win for Costco members, especially those who have the Costco AmEx as their benefits will increase by 33-100% in various cash-back incentives.
Thank you for sharing this information. I like the 3% cash back on restaurants and 4% cash back on gas.
Is there another credit card without an annual fee that offers higher than 3% cash back on restaurants?
With this being managed by Citi, do others also think that we can generate virtual credit card numbers for this card?
Tofu Vic
Quarterly categories on the Chase Freedom are 5x and once a year include gas and restaurants. You buy gas/restaurant gift cards during that time to use throughout the year and you're getting 5x yearlong.
Untrue which is why Citi bid for the contract against AmEx. It's almost the equivalent of a loss leader: Citibank knows Costco customers are a desirable demographic and betting they'll use the Citibank-issued card for purchases outside of Costco (i.e. merchant fees from non-Costco purchases) to make up for the zero or near zero merchant fee they'll extend to Costco in a similar way AmEx did.
Citi will make money. You can count on it. Late fees are in the billions of dollars alone. Add interest, etc. More cards in the public hands, means more money for them.
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I was wondering who bought that Volt.
You can use Any VISA, so that opens up a lot more options for people.
Citi, B&A, Chase, , so what. They're all the same idiots. Wells Fargo last month froze my checking account because I didn't make a consumer transaction for 2 years. Oh wait, the rep said 1 year, Oh wait, another rep said 10 months. LOL. I DID make transactions with PayPal withdrawling my money from my checking account via purchase's on the internet.
So, don't think a bank's name makes any difference. They're all idiots.
Some great cash backs on this new VISA card.
It'd be really cool if that's really the case.
Doug in beautiful Skagit County
Ha! Yep, one of the proud few, lol
Costco accounts for 10% of all the Amex cards issued so this is a huge hit for them. I love Amex so long as its free. Customer service is always domestic when I call in.
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You won't lose any of the cash back rewards you've already earned from your Costco card from American Express. Rewards that were not previously distributed to you will be transferred automatically to your new card on June 20, 2016, so you won't lose any of the rewards you've already earned. Your February 2017 cash back rewards coupon from Citi will include cash back rewards earned on your Costco card from American Express during 2016 that were not previously distributed to you by American Express.
If your Costco card from American Express earned Membership Rewards® points, these points will not transfer to your new card. Contact American Express with any questions.
Untrue which is why Citi bid for the contract against AmEx. It's almost the equivalent of a loss leader: Citibank knows Costco customers are a desirable demographic and betting they'll use the Citibank-issued card for purchases outside of Costco (i.e. merchant fees from non-Costco purchases) to make up for the zero or near zero merchant fee they'll extend to Costco in a similar way AmEx did.
Other thing to remember. Pl transfer all of your current credit limits to other amex card if not, the sinking amex card may carry it away..
Wait you can do that??
Anyone that thinks a credit card company wouldn't want to be in Costco customers' wallets is clueless. In the end, AmEx couldn't make it work for them, but that means they didn't try. But, it's a win for Costco members, especially those who have the Costco AmEx as their benefits will increase by 33-100% in various cash-back incentives.
Is there a foreign transaction fee? My last airfare purchase was based in Hong Kong and I was charged 3%.
Is there another credit card without an annual fee that offers higher than 3% cash back on restaurants?
With this being managed by Citi, do others also think that we can generate virtual credit card numbers for this card?
Tofu Vic
This is a pretty compelling offer, though.
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