Costco Anywhere Visa^® Business Card by Citi — Review [2024]

Great Card If

• You do all or most of your grocery shopping at Costco.
• You spend a lot on gas.

Don’t Get If

• You don’t shop at Costco.
• You don’t spend much on gas, restaurants, and groceries.

Costco Anywhere Visa^® Business Card by Citi: Is It Worth It?

For business owners who frequently spend money on gas, dining, Costco, and Costco Travel purchases, the Costco Anywhere Business card is an excellent option.

While there are other cards that offer a higher return on grocery spend, keep in mind that Costco often does not credit as grocery spending on these cards. Further, Costco limits the type of cards that can be used during checkout to just Visa-branded credit cards, with American Express, Mastercard, and Discover not accepted in its stores.

Additionally, there aren’t many business credit cards on the market that can match 4% cash-back on gas and EV charging on up to $7,000 in spend per year. If your business requires that amount of spend on these purchases, that would net you $280 in cash-back each year on these purchases alone. Lastly, the card has no annual fee as long as you have an active Costco membership.

Costco Anywhere Business Card Benefits

Travel and Purchases Protections

• Damage and Theft Protection: Eligible purchases paid with your card include damage and theft protection up to 120 days of purchase (90 days for New York residents). The coverage per item is $1,000, and the coverage limit per calendar year is $50,000.
• Rental Car Insurance: This is secondary rental car insurance that covers up to $50,000 in accidental damage to your rental car.
• No Foreign Transaction Fees: Use your card overseas without additional fees.

Best Ways To Earn and Redeem Your Costco Cash-Back

Unsurprisingly, the best way for you to earn as much cash-back as possible with your card is to use it for as many purchases you can, especially for purchases that fall within the cards bonus categories of gas and EV charging, restaurants, and travel purchased through Costco Travel, along with purchases at Costco and Costco.com

When it comes to redeeming your cash-back, the setup on the Costco Anywhere Business card is a bit different. For starters, your cash-back reward is distributed annually once your February billing statement closes. Your cash-back rewards are distributed in the form of a credit card reward certificate, (unless your annual reward amount is greater than $10,000). Once you receive your certificate, you can redeem it at any Costco warehouse for cash or as a payment method for any merchandise you’d like to purchase.

Alternatives to the Costco Anywhere Business Card

U.S. Bank Business Triple Cash Rewards Visa^® Card

If you’re interested in the Costco Anywhere Business card for its earnings on gas purchases, the U.S. Bank Business Triple Cash Visa card is a great option, as well.

With it, you earn 3% cash-back at gas and EV charging stations, office supply stores, cell phone service providers, and restaurants, all with no annual spending caps. The card also offers a $100 credit for recurring software subscription expenses, such as FreshBooks or QuickBooks, and does not charge an annual fee.

Ink Business Premier^® Credit Card

Ink Business Premier^® Credit Card

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

Earn up to 5% cash-back for your business without complex bonus earning categories!

Learn More(at Chase's secure site)

Ink Business Premier^® Credit Card

Earn up to 5% cash-back for your business without complex bonus earning categories!

Welcome Offer

Earn $1,000 bonus cash-back after you spend $10,000 on purchases in the first 3 months from account opening.

$1,000

UP's Bonus Valuation*:

$1,000

Annual Fee

$195

APR

Flex for Business Variable APR: 19.49% - 27.49%

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.

Good to Excellent (670-850)

Why We Like This Card

Chase has introduced the Ink Business Premier^® Credit Card to its business credit card lineup. With straightforward cash-back earnings on everyday purchases and large expenses, tools to help you monitor your business, and multiple ways to redeem your rewards, this is a great card option to consider.

Pros & Cons

Pros

• Earn 2.5% total cash-back on purchases of $5,000 or more
• Earn 2% cash-back on all other business purchases
• Unlimited 5% total cash-back on travel purchased through Chase Travel

Cons

• $195 annual fee
• Some purchases need to be paid in full each month and don’t qualify for Flex for Business APR

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Card Highlights

• Earn $1,000 bonus cash back after you spend $10,000 on purchases in the first 3 months from account opening.
• Earn unlimited 2.5% total cash back on purchases of $5,000 or more and unlimited 2% cash back on all other business purchases.
• Travel Benefits: Unlimited 5% total cash back on travel purchased through Chase Travel℠, No Foreign Transaction Fees and Trip Cancellation/Trip Interruption Insurance.
• The only business credit card with 2.5% cash back on every purchase of $5,000 or more.
• Get the buying power you need to make large purchases, cover monthly expenses and help your business grow. While you must pay your Pay In Full balance each month, this card has built-in flexibility. The Flex for Business feature allows for qualifying purchases to be paid over time with interest.
• Purchase with confidence with built-in protections like Fraud Protection, Zero Liability Protection, Purchase Protection, Cell Phone Protection, and Extended Warranty Protection.
• There's no additional cost for employee cards. Monitor spend with digital tools like purchase alerts, set spending limits, reporting, and more.
• Member FDIC

Financial Snapshot

• APR: Flex for Business Variable APR: 19.49% - 27.49%
• Foreign Transaction Fees: None

For those who prefer a great catch-all business credit card, the Ink Business Premier card offers 2% cash-back on all purchases and 2.5% cash-back on purchases of $5,000 or more.

It comes with great card protections like cell phone protection, auto rental collision damage waiver, purchase protection, and a large welcome bonus offer.

Plus, since it is a Visa card, you can still use it to earn 2% cash-back on your Costco purchases, which matches the earn rate of the Costco Anywhere Business card.