Is Costco’s Credit Card Worth It? (Pros & Cons)

Рет қаралды 9,155

Күн бұрын

Is the Costco Anywhere Visa® Card by Citi worth it? I’m breaking down the card's cash back rewards program, including the boosted rates on gas, travel, dining, and of course, Costco purchases! In this video, I'll walk you through everything you need to know including the pros, cons, and helpful advice to help you decide if you should add this card to your wallet.
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Thinking about shopping at Costco? This video is a must-watch before you apply for their credit card!
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Already a Costco member? Learn how to maximize your rewards and make the most of your Costco Anywhere Visa® Card.
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00:00 - Intro
00:16 - Costco Anywhere Visa® Card Overview
00:44 - 2% Cash Back on Costco Purchases
01:20 - 4% Cash Back on Gas and EV Charging
02:21 - 3% Cash Back on Restaurants and Travel
02:59 - 1% Cash Back on Everything Else
03:29 - Other Cardholder Benefits
04:04 - Cash Back Redemption Rules
05:07 - Costco Anywhere Visa® Card Pros
05:38 - Costco Anywhere Visa® Card Cons
05:51 - Summary
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Related Resources:
clark.com/credit-cards/costco...
clark.com/credit-cards/what-c...
clark.com/credit-cards/clark-...
clark.com/credit-cards/2-perc...
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Пікірлер: 47

@rickmorris3955 19 күн бұрын

I've used Costco cards for years and love them. I pay it off immediately and am completely debt free as well (including house )

@Clark 18 күн бұрын

Way to go! 👏👏👏

@janeself9827 18 күн бұрын

😩🤣🥹

@mrsjasonvoorhees5267 18 күн бұрын

I am also debt free! But, I don’t get to Costco as often as I would like. And I do use my Costco visa. At the end of the year my rewards barely cover my renewal fee.

@fiddlesnsticks 16 күн бұрын

Is the cash back enough to be worth the interest charged?

@andrewsgibson1 18 күн бұрын

Very informative video Michael. Thank you for sharing

@wekebu 19 күн бұрын

I learned a lot thank you! I thought I knew everything about my Costco Visa card.

@TheWorkCompGuy 18 күн бұрын

Great video, Michael! Nice presentation and very informative!!! Will be following for sure.

@GunnyPhillips 16 күн бұрын

Despite slightly better benefits, I felt the AMEX card was better as CITI's customer service is abysmal.

@brianhardwick6122 18 күн бұрын

Good job uncle Michael!

@karinhart489 18 күн бұрын

I got it as a backup CC for traveling/driving trips on West Coast mostly to buy gas, but also having experienced MC shutting down my main card due to fraud elsewhere & they were mailing me a new card (5 days). I don’t usually carry the Costco membership card so I discovered the ID alternative.

@LisaNix2 15 күн бұрын

There’s also no foreign transaction fees with this card.

@Adiscretefirm 7 күн бұрын

I have joined Redstone FCU for the CD rates and their Visa Signature rewards card 5x on gas and 3x at wholesale clubs among other multipliers. It beats Costco and Sam's branded cards

@zyzzuschrist3410 19 күн бұрын

Please do more credit card reviews, thanks

@Clark 18 күн бұрын

Thanks for your feedback! 💚

@lpc1231000 19 күн бұрын

Is it correct that buying gas anywhere but Costco earns less than the 4% cash back? Please distinguish between buying at Shell, Exxon, Valero, etc. versus convenience store, superstores, etc.

@Clark 18 күн бұрын

Not exactly correct. Superstores, supermarkets, and warehouse clubs are self-explanatory. Basically, any Costco competitor that sells food, essential goods, and gas are only eligible for 1% cash back on gas. Convenience stores are tricky because most gas stations have convenience stores on the premises. It boils down to how a particular gas station/convenience store is coded. Some are coded as gas stations, which will get you the 4% cash back; but others are coded as convenience stores, which will only get you 1% cash back. Unfortunately, you won't know by the naked eye pulling up to get gas how an establishment is coded. You would either have to check your credit card statement to see which percent you got back or call the credit card company to see how it's coded. It could be helpful to know the coding of the stations nearest your home and job, so that you know which ones to frequent for the full 4% reward. Hope this helps to clarify! 💚

@LisaNix2 15 күн бұрын

This guy talks so much faster than Clark,mi had to slow him down😂 but I like his information

@marystercula9165 18 күн бұрын

I just used costco credit card to rent car. Save $15 a day on second driver charge.

@zyzzuschrist3410 19 күн бұрын

No Clark Howard show today?

@Clark 19 күн бұрын

Clark is taking a quick break this week. The next new podcast episode of his show will air on July 8. We hope you take the time to catch up on any episodes you may have missed!

@zyzzuschrist3410 19 күн бұрын

Crazy how my comment highlighting better card was deleted. Still love this show though 😊

@Clark 19 күн бұрын

Would you mind reposting your comment? Our team did not intentionally remove it! We welcome your opinion and there are certainly other credit cards out there!

@SO4JTV 18 күн бұрын

@@Clark yes .. I’ve posted comments before that were very informative and helpful and they too were deleted ..I know it’s always YT doing this ..and it’s not even anything Clark Team wouldn’t want me to share.

@KDFantastic 14 күн бұрын

Add the less known benefit of NO fees when you use the card outside the US.

@travis1240 6 күн бұрын

This card would be so much more attractive if it gave 2.5%-3% on Costco purchases.

@magnoliap5824 19 күн бұрын

My other grocery card is way better for gasoline, nearly a dollar off per gallon most times.

@billmulvihill8452 19 күн бұрын

Your final thought about gas cash back is somewhat incorrect. You get 4% cash back at almost all gas stations, not just Costco. No other card gives 4% everyday cash back on gasoline almost everywhere else that is a standard gas station, everyday.

@roberteckman741 18 күн бұрын

Correction: I have a credit union credit card and it rewards me 4% for gas anywhere fill up.

@Clark 18 күн бұрын

The terms & conditions state: "You will only earn 1% cash back, not 4%, for gas purchased at superstores, supermarkets, convenience stores and warehouse clubs other than Costco." Convenience stores is the tricky part because most gas stations have convenience stores on the premises. It boils down to how a particular gas station/convenience store is coded. Some are coded as gas stations, which will get you the 4% cash back; but others are coded as convenience stores, which will only get you 1% cash back. Unfortunately, you won't know by the naked eye pulling up to get gas how an establishment is coded. Sounds like most of the gas stations in your area qualify. That's great! 👏👏💚

@drz4073 17 күн бұрын

IfItypeinthecommentssectionthewaythatsoftwareeditsoutthetimebetweenwords,woulditmakeadifference?

18 күн бұрын

Nothing Rigid about the cash back rewards, it's simple, once per year.....how is that an issue in any way.

@Clark 18 күн бұрын

Once per year may seem rigid to people who are used to receiving their credit card rewards, monthly. Additionally, the hassle of taking your rewards certificate in-store and being at their discretion if you can receive cash or products may also feel rigid to some people. 💚