What is the Costco credit card APR?

The Costco Credit Card credit score requirement is 750 or higher, which means applicants with excellent credit should have good odds of approval. That’s the case for both the Costco Anywhere Visa® Card by Citi and the Costco Business Credit Card.

You should note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for the Costco Credit Card, too. Some other key criteria include your income, existing debt load, and recent credit inquiries. Still, make sure to … read full answercheck your credit score before applying.

Costco Credit Card Approval Requirements:

• A high personal credit score. Whether you’re interested in the Costco Anywhere Visa® Card by Citi or the Costco Anywhere Visa® Business Card by Citi, your personal credit standing will largely dictate your odds of approval. All business credit cards base approval decisions on applicants’ personal credit history because it tends to be longer and more predictive.
• Enough income & assets. Income and assets shows your ability to pay a new credit card’s bills. The more money and valuable items you have to your name, the less risky you’re generally considered to be. But these factors are compared to your existing debt obligations.
• Low existing debt. Lenders want to make sure you’ll be able to make your credit card payment each month. And the more debt you have relative to your income, the less confident they’ll be about that happening.
• Other things to keep in mind. Some online reports mention that people are getting approved for a Costco Anywhere Visa® Card by Citi with a credit score in the low 700’s. But since a lot of other factors are in play, you shouldn’t assume that you will be approved just because they were. Plus, getting turned down for a credit card can lead to temporary credit score damage.

If your credit score is already 750+ and you have a good debt-to income ratio, , you’ll have a better chance of approval. If not, make sure to improve your credit standing first. To do so, make sure to catch up on your current payments, keep your credit utilization below 30%, and build a longer history.

Finally, don’t forget that you have to be a Costco member to apply. That will cost you $60+ per year in membership dues.