5 Things You Can Do With Your Costco Credit Card
When you think of membership-based establishments, your mind might not immediately jump to the idea of having a credit card linked to that organization. But as it turns out, Costco has credit cards linked to its services and they come in handy for members who want to buy even more things there. If you sign up for the Costco Anywhere Visa® Card or the new cash back Costco Cash Rewards™ Visa® Card (also known as the New COSTCO Cash Rewards™ MasterCard®), you’ll be able to enjoy some perks and privileges specific to having one of these two cards. For example, with either card, you can use your membership number as your membership ID at check-out; both have rewards programs that give you cash back on purchases; and so on.
Earn Cash Back With Your Costco Credit Card
The Costco Anywhere Visa card comes with an industry-leading rewards program where you can earn 4% cash back on gas and 3% cash back at restaurants and travel, 2% cash back on Costco and Costco.com purchases, and 1% cash back on all other purchases. You’ll earn a $99 annual Costco Gold Pass Membership. This is a $55 value. If you have a Costco cash rewards credit card, you’ll have a different rewards program. You’ll earn 5% cash back on gasoline, 4% cash back at restaurants, 3% cash back on all Costco purchases, and 2% cash back on all other purchases. This card does not come with an annual Costco gold pass membership. However, you can earn a $55 Costco Gold Pass by signing up for Costco Auto Delivery.
Free Rotating Memberships
If you have a Costco Anywhere Visa card and you’ve been a member of Costco for two years, Costco will give you a free one-year Gold Star Executive Membership. This is the $60 Costco membership that usually comes with a two-year requirement. If you have the new cash back Costco credit card you will earn a free Executive Membership at Costco.
New Costco Cash Rewards Visa Card: A Quick Review
The new cash back Costco card is a great alternative to the Costco Anywhere Visa, especially for people who prefer to have cash back on their purchases instead of rewards points. This card offers 4% cash back on gas (at Costco and other gas stations), 3% cash back at restaurants, 2% cash back on Costco and Costco.com purchases, and 1% cash back on all other purchases. The new Costco card does not offer an annual Costco gold pass membership, but it does have an introductory offer of 0% APR for 15 months. This is a great deal for people who need time to pay off a large Costco purchase, like a kitchen remodel or new furniture.
What’s the difference between the Costco Anywhere Visa and the new Cash Back Card?
The biggest difference between the two cards is that the new cash back card does not offer rewards points, but the Costco Anywhere Visa does. The Costco Anywhere Visa offers 4% gas rewards, 3% cash back at restaurants, 2% cash back on Costco purchases, and 1% cash back on all other purchases. The second biggest difference is that the Costco Anywhere Visa card has an introductory offer of 0% APR for 15 months, while the new cash back card has an introductory offer of 0% APR until your balance is paid off and no annual fee. If you don’t need a long introductory offer, the new cash back card is the better choice.
Have easy access to your credit score.
Your Costco credit card will come with a free FICO score. Your credit score is a number that represents your creditworthiness. It is used by banks and other lenders to determine your credit card interest rate and the likelihood that you’ll pay back the money you borrow from them. Having an easy way to check your credit score is the best way to monitor your credit health. If you see something that looks like an error on your report, you can take action to get it corrected.
Checkout With a Button
Another great benefit of Costco credit cards is that you can use a specific button at checkout to pay your bill with just one click. You can also link your Costco credit card to your bank account or prepaid card. If you choose to pay with a credit card, you can choose which card you want to charge the purchase to. This is a great feature if you want to pay your Costco credit card bill with the rewards points you’ve already earned.
0% APR For 15 Months
If you’re in the middle of a large project that requires a Costco purchase, you might not have the money to pay for it all at once. Both of Costco’s credit cards offer 0% APR on purchases for 15 months so that you can pay for those big purchases over time and without the interest charges. This is a great feature, especially for people who don’t have thousands of dollars saved up for large purchases.
If you’re a Costco member, you should really think about getting one of their credit cards. Not only will you earn rewards on every purchase you make, but you’ll also have an added layer of protection. If you’re buying something big, like a new kitchen or furniture set, you can take advantage of the 0% APR for 15 months. This will give you plenty of time to save up the money you need to pay for it in full. If you’re a frequent Costco shopper, these credit cards are a great way to earn rewards, save money, and get even more out of your Costco membership.