The benefits of the Costco Visa Card range from rewards to travel insurance and purchase protection. Most importantly, the Costco Anywhere Visa® Card by Citi enables you to earn rewards on items that may already be discounted heavily, as Costco offers great deals and the card gives 1 - 4% cash back on purchases.
Costco Visa Credit Card Benefits
4% cash back on the first $7,000 spent per year on eligible gas purchases and 1% cash back thereafter.
3% cash back at restaurants and on eligible travel expenses.
2% cash back on Costco and Costco.com purchases.
1% cash back on non-bonus-category purchases.
Worldwide Travel Accident Insurance provides coverage if you or an eligible family member dies or sustains certain injuries during your trip.
Damage & Theft Purchase Protection covers repairs or refunds on items purchased with a Costco Credit Card that are damaged or stolen within a certain time period of the purchase date.
0% foreign transaction fee on purchases abroad or online through internationally-based merchants.
Worldwide Car Rental Insurance covers your rental car against theft and damage from an accident, natural disaster or vandalism when you pay with a Costco Credit Card and decline the rental company’s insurance.
Travel & Emergency Assistance provides travel support services 24/7 before and during a trip, including help with travel arrangements, medical and legal referrals, and more.
Citi Entertainment provides cardholders special access to buy tickets to certain exclusive events.
Citi Quick Lock allows you to block access to your account without having to order a new card.
And finally, as with most credit cards, you’ll have $0 liability for any unauthorized charges made on your account. As you can see, there’s a lot to like about the Costco Anywhere Visa® Card by Citi.
Costco’s business card, Costco Anywhere Visa® Business Card by Citi, has the same benefits as the consumer card, plus lost baggage protection. If you’re already a Costco member and you have excellent credit, the rewards and other benefits make it worth applying for one of these cards.
Yes, the Costco Credit Card is worth it because it gives 1 - 4% cash back on purchases, you can use it anywhere Visa is accepted, and there’s a $0 annual fee. So, it’s pretty much a must-have for Costco members, if you can get it. You need excellent credit (a score of 750+) to qualify.… read full answer
Reasons Why the Costco Credit Card Is Worth It
Cash back on popular spending categories: You’ll earn 4% cash back on certain categories. You’ll also get 3% at restaurants and on eligible travel expenses, along with 2% at Costco and Costco.com, and 1% on all other purchases. Rewards get delivered once a year in the form of a certificate included with your February billing statement, and you have a year to redeem.
$0 annual fee: While you will have to pay $60+ per year for a Costco membership, you won’t have to spend any additional money just to have the card.
$0 foreign fees: You can use your card on purchases throughout your travels, knowing that there are $0 foreign transaction fees on purchases.
Insurance: The Costco Credit Card provides several types of insurance at no extra cost to you. The travel insurance policies include compensation for emergency assistance and damage/theft of rental cars. Items you buy with your card can also be replaced/reimbursed with purchase protection.
The Costco Credit Card clearly is worth it when used responsibly by the right type of person. But since Costco will accept any card on the Visa network (plus cash and checks), you have other options.
The Costco Credit Card travel insurance coverage includes travel accident insurance and rental car insurance.
The travel accident insurance benefit covers you, your spouse, your domestic partner and/or your dependents up to $250,000 per person against death or dismemberment. The coverage applies while you are traveling on a common carrier like a plane, train, bus or boat, as long as you paid for the full fare using the card.… read full answer
The rental car insurance policy on the Costco Credit Card provides up to $50,000 per rental in reimbursement for collision damage and theft. The car must be rented entirely with the Costco Credit Card, and the cardholder must decline the optional insurance offered by the rental agency.
Here’s how to file a claim:
To file a claim, call (866) 918-4670 as soon as possible to make use of the rental car insurance or within 60 days for the travel accident insurance. Citi will advise you what documents should be submitted with your claim form. Alternatively, you can visit citi.com/Costco to download a claim form for submission.
Ultimately, you have to return the claim form and all requested documents within 180 days of the incident. Citi will notify you of its decision once they have processed your claim.
Keep in mind that both types of Costco Credit Card travel insurance have a lot of fine print, so be sure to read your card’s benefits guide to see coverage exclusions.
The Costco Credit Card’s rental car insurance will cover most car rentals purchased with the card, as long as you decline any insurance offered by the rental agency. If the car is stolen, or you get into an accident with the car, you’re covered for up to $50,000 in either repair costs or the cash value of the car (whichever turns out to be less). And because it’s free with the Costco Credit Card, it’s a lot cheaper than the rental car insurance offered by the rental agency.… read full answer
There are some rules, however. The maximum length of a covered rental is 31 days, so your car won’t be covered if the rental agreement is longer than that. Covered issues include damage due to an accident, natural disaster, or vandalism; or theft of the vehicle. Towing expenses to the nearest collision center are also covered. The Costco Credit Card rental car insurance covers rentals worldwide – and outside of the U.S., it’s considered primary insurance, which means it covers the car before any other insurance policy takes effect.
Costco Credit Card rental car insurance does not cover rentals used as a “car for hire,” rentals from peer-to-peer car sharing companies, or damage done by operating the car in a way that violates the rental agreement. It also won’t cover bodily injury expenses.
If you need to file a claim, call 866-918-4670 as soon after the incident as possible. You can also visit the Citi Costco claims website to download a claim form.
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