Costco Anywhere Visa Business Card Review

Who is the Costco Anywhere Visa Business Card for?

The Costco Anywhere Visa Business Card is perfect for small business owners who want to earn rewards on almost all their purchases. This card offers 4% cash back on gas, 3% on restaurants and travel, 2% on all purchases from Costco, and 1% on all other purchases. You need to have a Costco membership to apply for this card, but there are many other benefits for business owners of a Costco membership. This card can help you make all the purchases you need for your business and earn cash back on all of them.

There are also other Citi benefits and protections that help you get your value out of this card. Citi Entertainment gives you exclusive access to many other entertainment events that you could not get otherwise. Also, there are warranty and protection perks that keep you and your business safe. This is important as there are many liabilities within a small business but this card helps you cover some of them. 

As a small business owner, this card provides many rewards and benefits that can help elevate your business. You are always earning money while you spend and with the Costco membership, it can help you make all the purchases you need. Also, the coverage provided by this card helps you keep you and your business safe from any accidental damage or theft. 

Costco Membership

Although this card does not come with an annual fee, you must have a Costco membership. Spending $60 yearly for the benefits of Costco is much better than paying a traditional annual fee on a credit card, especially if you need to buy products in bulk for your small business. 

Rewards

Cardholders get 4% cash back on gas, 3% on restaurants and travel, 2% on all other purchases from Costco, and 1% on all other purchases. You only earn 4% cash back on gas for the first $7,000 in purchases and after that, it drops to 1%. This lets you earn cash back on almost all of your purchases. However, the only place you can use this cash back is at Costco stores so you need to make sure that you see a benefit in shopping at Costco before getting this card. If you are willing to spend your cash back at Costco then this card can be helpful.

For business owners, this card can help stock their inventory and save on all their business-related purchases. As a business owner if you know you are going to rely on Costco services then this card is ideal.

Benefits and Security

Cardholders get access to Extended Warranty and Damage & Theft Purchase Protection benefits. Extended Warranty extends the manufacturer’s warranty so you can rest assured that your large purchases are protected for a longer period of time. Damage & Theft Purchase Protection covers you for repairs or a refund if purchases made with your Citi card are damaged or stolen within 120 days of purchase. As a business owner, you can never be too careful and this feature keeps your inventory and other essential assets safe.

This card comes with Citi Quick Lock, which instantly blocks new purchases and advances while allowing recurring transactions and payments to continue without disruption. This can stop fraudulent purchases by quickly locking your card and halting future purchases. Also, there are account alerts Citi offers tools such as Citi Online and Citi Alerts, to provide you with access to your account activity quickly and regularly. 

There are many other security benefits Citi offers through its Citi Mobile App. This helps you manage your account virtually anywhere. This can keep track of purchases, and budget your money for your business so that you always have your finances in one place.

Citi Entertainment 

Another major benefit with this Citi card and all other Citi cards is their Citi Entertainment feature. You get special access to purchase tickets to many events, including presale tickets and exclusive experiences for anticipated concerts, sporting events, dining experiences, and more. This unique feature lets you get access to all the events you could ever want. 

Rates and Fees

This card has a fixed purchase APR of 15.24%, which is significantly lower than other cards in the same category and you know exactly what you are paying for. This makes it much more affordable to finance large purchases for your business. The APR for cash advances is 25.24%, so you need to watch how much cash you are withdrawing at a time. There is also a penalty APR of 29.99%, so you need to make sure that you are making all of your payments on time. 

There are not many fees associated with this card. There is only a cash advance fee of 5% with a $10 minimum, and late/returned payments of $39. You want to make sure that payments are not made late because you do not want to incur any unnecessary costs. The lack of fees does make this card perfect for business owners trying to save money. There is also no foreign transaction fee so you can use this card anywhere you go.

Conclusion

The Costco Anywhere Visa Business Card is perfect for small business owners who frequently shop at Costco. You can earn rewards on any purchase and put it towards your next Costco purchase. There are also many benefits and security features that this card comes with. Overall, if you are a business owner who shops at Costco this card is for you.