No, there are not multiple Costco business credit cards. Currently, the only Costco business credit card is the Costco Anywhere Visa Business card from Citibank. It has excellent rewards and no annual fee, but you’ll need excellent credit to be approved.
Costco Business Credit Card’s Rewards & Fees:
4% cash back on gas (for the first $7,000 a year)
3% cash back on restaurants and travel
2% cash back on all Costco purchases, in-store and online
1% cash back on all other purchases
Annual reward coupon redeemable for cash or merchandise at Costco warehouses
No foreign transaction fee
$0 annual fee
If the Costco Anywhere Visa Business card doesn’t meet your needs, Capital One Spark Cash for Business is a great business credit card for Costco purchases. It’s a Visa, so it will work at Costco. And you’ll earn unlimited 2% cash back on all purchases, including those at Costco. That makes the rewards equivalent to the cash back you’d earn on Costco purchases with the Costco Anywhere Visa Business card. On top of that, cardholders can get a $500 signup bonus once they spend $4,500 in the first 3 months. The card has a $0 annual fee the first year and $95 after that.
There's no way to pay your Costco credit card at Costco directly. You can make a Costco Credit Card payment online (through either Citi or Costco), using the Citi mobile app or by mailing Citi a check or money order. If you decide to pay online or through the app, you will have the option of paying your Costco credit card bill with an electronic transfer from a checking account, savings account or prepaid card. … read full answer
It’s a lot harder to redeem Citi Costco rewards than you might think, thanks to a couple of key restrictions. For starters, you will only receive your Costco Visa cash back once per year, in February. It comes in the form of a rewards certificate, which you have to actually go to a Costco location to spend. And you have to do that by the end of the year, when the certificate expires. In contrast, most rewards credit cards allow you to redeem whenever you want, with just a few clicks or a phone call. … read full answer
So while it’s very easy to quickly rack up a lot of rewards with the Citi Costco Credit Card, you’ll have to wait quite a long time to see any real savings. Once February rolls around, though, using your rewards is simple.
Here’s how to redeem Citi Costco rewards:
1. Each February, once your account has been open for at least a year, you’ll receive a “credit card reward certificate” along with your monthly billing statement. This certificate will be redeemable for all the cash back you’ve earned since the last February.
2. Bring the certificate the next time you go to Costco.
3. Redeem the certificate at the register for Costco merchandise, cash or a combination of the two.
Unfortunately, the fact that you’ll receive your Costco rewards just once per year isn’t the only restriction you should be aware of. You should also consider the following rules before submitting an application.
Rules for redeeming Citi Costco rewards:
You must redeem each year’s rewards before December 31. Otherwise, they expire.
Only you and authorized users on your card can redeem your certificate. You can’t give it to someone else.
If you’ve earned less than $1 in rewards, you won’t get a certificate and will lose that money.
If you close your account (or Citi does), you forfeit any rewards that haven’t already been sent to you. In other words, you can still use a reward certificate after your account closes.
Keep these restrictions in mind so that you don’t lose any of your cash back. While Costco’s process may not be the ideal situation for redemption, good things come to those who wait. So have patience.
Costco Visa eligible travel purchases are airfare, hotel bookings, car rentals, cruise lines, and rideshare services such as Uber and Lyft. Purchases at Costco Travel and other travel agencies also fall under the Costco credit card’s travel category.
There are a number of other transactions that are not considered eligible travel for Costco Visa rewards, such as train and commuter travel fares, bed and breakfasts, timeshares, and campgrounds. Those, and travel-related purchases not categorized with the appropriate merchant category code (MCC) for travel, will earn only 1% cash back.… read full answer
Cardholders will get 3% cash back on all Costco Visa eligible travel purchases with no limits on earnings. In addition to travel, qualifying dining purchases also earn 3% cash back. Rewards are awarded once a year as a reward certificate redeemable at U.S. Costco locations.
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