Question: Is The Costco Credit Card Worth It?

Is there an annual fee for Costco Visa card?

The Citi Costco Anywhere Visa card has no annual fee, but to apply, you must be a Costco member.

A basic membership is $60 a year (plus tax).

An executive membership is $120 a year (plus tax).

The cash back on the card comes in the form of an annual certificate included in February billing statements..

Is Costco worth the membership?

A membership may not be worth your money if you shop at Costco.com infrequently enough that the 5% fee adds up to less than the yearly cost of a membership. But if you spend more than $1,200 on Costco.com without being a member, you’ll lose money—that’s when it’s time to shell out the $60.

Which Costco membership is the best?

There are two types of Costco memberships:Standard: Costco’s base membership tier, called Gold Star, is $60 annually.Executive: The Gold Star Executive membership is $120 a year. Executive members get an annual 2% reward (up to $1,000) on qualifying Costco, Costco.com, and Costco Travel purchases.

Is the Costco Visa card a good deal?

The Costco Anywhere Visa’s 2 percent cash back rate for Costco purchases is pretty good for a (technically) no annual fee card. But if you don’t want to wait to receive your cash each year – or commit to an ongoing membership – there are some good alternatives that offer a similar return.

Is the Costco credit card hard to get?

Yes, the Costco credit card is worth it because it gives 1 – 4% Cash Back in rewards 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.

What credit score is needed for a Costco visa?

750Costco members with credit scores of 750 or higher whose most common expenses include gas, travel and dining should consider applying for the Costco Credit Card.

What credit score do you need for Citi Costco?

So while some people might consider the Costco credit card credit score requirement to be 720+, you should think of it as 750+ just to be safe. Having a high enough credit score doesn’t guarantee approval, of course. And it’s possible to get approved with a lower score.

What are the benefits of a Costco credit card?

Costco Anywhere Visa® Cards by Citi4% cash back on eligible gas worldwide, including gas at Costco, for the first $7,000 per year and then 1% thereafter. … 3% cash back on restaurant and eligible travel purchases worldwide. … 2% cash back on all other purchases from Costco and Costco.com. … 1% cash back on all other purchases.

Is it easy to get approved for Costco credit card?

Yes, the Costco credit card is worth it because it gives 1 – 4% Cash Back in rewards 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. That’s the short story.

What is the minimum credit score for a Citi card?

You need a good credit score for a Citi credit card in most cases. So you’ll have a shot with a credit score of 660+, and your odds will be good with 700+. But it really depends on which card you’re after. Some Citi credit cards require higher scores, and one has no minimum score at all.

What FICO score does Citi use?

Just because Citi provides the FICO 08 Equifax Bankcard score to customers does not mean that that is what they solely use for credit decisions, including credit cards. If that was the case then they would not also pull other bureaus like Experian.

Does Costco Citi cover trip cancellation?

The Costco Anywhere Visa® Card by Citi will no longer offer Trip Cancellation & Interruption Protection and Citi Price Rewind starting on September 22, 2019, Clark.com has confirmed. … Travel & Emergency Assistance. Damage & Theft Protection.

What is the interest rate on a Costco credit card?

17.24%The Costco credit card interest rate is 17.24% (V). The V stands for variable – which means your rate is tied to an index, usually the prime rate that banks use to lend to their most creditworthy customers.

Does the Costco credit card include membership?

The Citi Costco Anywhere Visa card has no annual fee, but to apply, you must be a Costco member. A basic membership is $60 a year (plus tax). … The cash back on the card comes in the form of an annual certificate included in February billing statements. It can be redeemed for cash or merchandise at Costco stores.

What is the limit on a Costco credit card?

There’s no way to tell exactly what your Costco Anywhere card credit limit is going to be, but the minimum is $500. A credit card credit limit is a product of your current debt-to-income ratio as well as payment history on your existing credit accounts. Plus, the higher your credit score, the higher your credit limit.