Yes, the Costco Citi Card is very good. It’s got great rewards, you can use it anywhere Visa is accepted and there’s no annual fee. So it’s pretty much a must-have for Costco members...if you can get it. You need excellent credit to qualify.
That’s the short story. Below, I’ll give you a some specific reasons why I like this card.
Here are all the reasons why the Costco Citi Card is good:
Tons of cash back. There are four levels of cash back savings: 4% on your first $7,000 of eligible gas, 3% on restaurants and eligible travel expenses, 2% at Costco and Costco.com, and 1% on everything else. “Eligible” here means places not exempted from cash back by Costco. The downside here is that you ONLY GET 1 PAYOUT PER YEAR, with your February billing statement. It comes in the form of a rewards certificate that you have to use by the end of the year on just 1 transaction. So you’d better like saving in bulk too!
No annual fee. While you will have to pay $55+ per year for a Costco membership, you won’t have to spend any additional money just to have the card.
0% for 7 months. This is for purchases, not balance transfers.
Insurance. The Citi Costco card provides several types of insurance at no extra cost to you. The travel insurance policies include compensation for trip cancellation, automobile rentals. Items you buy with your card can also be replaced/reimbursed with purchase protection, and you’ll get extended warranties.
Retroactive savings. The Citi Price Rewind tool will search for better prices on items after you’ve bought them, and can reimburse you up to $500 per item and $2500 per year.
There’s a lot to love about the Citi Costco card. But since Costco will accept any card on the Visa network (plus cash and checks), you have other options.
Oh yeah, it's definitely a great card. It's super hard to get one, but the cash back savings alone are awesome.
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