Frieda Reiss, WalletHub Credit Card Analyst
@freiss
The main difference between the Chase Sapphire Preferred card and the Costco Anywhere Visa® Card by Citi consists of the types of customers they are targeting. The Chase Sapphire Preferred card is a full-fledged travel credit card designed for frequent travelers, while the Costco Credit Card is designed exclusively for Costco members and offers great cash back rewards in everyday spending categories.
Chase Sapphire Preferred Card vs. Costco Credit Card: How They Compare
| Card | Chase Sapphire Preferred | Costco Credit Card |
| Initial Bonus | 75,000 points for spending $5,000 on purchases in the first 3 months | None |
| Rewards Details | 5 points per $1 spent on travel purchased through Chase Travel℠, 2 points per $1 on all other travel purchases, 3 points per $1 on dining and online grocery purchases, 3 points per $1 on select streaming services, and 1 point per $1 on all other purchases Points value varies based on how you redeem them | 5% cash back rewards on gas at Costco and 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% back on restaurant and eligible travel purchases, 2% back on all other Costco and Costco.com purchases, and 1% back on all other purchases |
| Regular APR | 19.99% - 28.24% (V) (based on creditworthiness) | 19.49% - 27.49% (V) |
| Annual fee | $95 | $0 (requires Costco membership) |
| Foreign transaction fee | $0 | 0% |
| Credit score required | 700+ (Good credit or better) | 750+ recommended (Excellent credit) |
The Chase Sapphire Preferred card is ideal for frequent travelers who spend enough to offset its $95 annual fee. And the Costco Credit Card is better suited for Costco members who spend a lot in its rewards categories. Neither card has low interest rates, so it’s advisable to pay bills on time and in full every month. For an in-depth look at both credit cards, feel free to take a look at WalletHub’s Chase Sapphire Preferred card review and the Costco Credit Card review.
Keep in mind that lenders might use a different score when deciding whether to approve you for a financial product and approval is never guaranteed.
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Kathryn B. Hauer, CERTIFIED FINANCIAL PLANNER (TM)
@KathrynHauer
Hi! Thanks for writing! It really depends on your travel habits as to whether is worth it to pay an annual fee for a credit card. Many good reward credit cards without annual fees are out there, but for frequent travelers the benefits of an annual fee card could be worth it. You could check out our Wallet Hub Credit Card Comparison site to evaluate the Sapphire card. Without knowing more about your travel plans and behaviors, I can't say for sure if dropping the annual fee card is the right thing to do. Best wishes to you in your travels!
People also ask
Is Costco part of the Chase grocery store list?
No, Costco is not part of the Chase grocery store list. Chase gives bonus rewards for grocery purchases made with eligible credit cards at full-service grocery store chains, smaller stores that primarily sell groceries, and grocery pickup and delivery services, if classified as a grocery store or supermarket. Wholesale clubs such as Costco and Sam’s Club do not qualify as grocery stores for Chase’s grocery store bonus category.
The good news for Costco shoppers...
read full answer by Chip Lupo, Credit Card WriterDid we answer your question?
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