This is introduced on how to self-register your Citibank credit card online, after going to the website, follow the 5 detail steps to finish the registration process.
I'm going to review the Costco of visa anywhere Visa credit card, they call Costco anywhere visa credit card, the appropriate name is a cashback card, that is only for Costco members.
Give cash back but no foreign transaction fees
It's issued by Citibank, and it gives you cashback in the following formula of four percent cash back on gas at both Costco and US gas stations, three percent back on restaurant purchases and travel purchases, two percent cash back at Costco, one percent cash back everywhere else.
There's no bonuses upfront here if you spend a certain amount, this is not a bonus card, the cashback is the star of the show here, no foreign transaction fees if you use the card outside of the United States and doubles as your Costco ID card. So you don't have to have both when you're at a Costco location.
There's no annual fee for this beyond what you would normally pay to Costco to be a member now, in terms of your reward that you earn you're only going to get that cashback one time per year. In February they take all your earnings from the prior calendar year, and you get a reward certificate for all of it.
Get that reward certificate once a year
Now when you get that reward certificate, I have to go to a Costco store, and you can either use the money that's on the certificate to buy things from Costco or you can get cash back from them or you can do a mix of the two, but still this is a situation where you can't just like take a statement credit or get it mail to you or whatever, and you can only get it one time per year.
We don't see this as a really great feature, some people like to get their rewards more often, and there is some question as to why Costco feels like it needs to get you into the store to get that to ultimately get that cash back in your hand or they do that in the hopes that you're just going to use it at a Costco store.
We're not quite sure now, you probably are spending enough with Costco, anyway where it doesn't matter, otherwise you wouldn't be a member probably, to begin with, but still, it seems like an unnecessary hurdle to have to get over, so that is something that you should definitely be aware of.
Some extra detail and compare to some other cards
Now let's look closer at those rewards and we'll talk about a little bit some extra detail on them and also compare them to some other cards that are on the market. You can think about how this card compares to what else is out there now that 4% on gas, that is a great rebate, that's pretty much the best gas rebate that you're going to find in any card.
The only card that we have seen that potentially could offer you something a little bit better is the pen fed rewards visa, which is a points card that when you use it on gas at the calculation is roughly 4.25 percent on gas purchases, but again you have to be a member of pen fed, and the other aspects to that card may not be as good.
This is still in terms of like thinking of a mainstream card, this is really kind of the top of the market here 3% on restaurants, and travel purchases is obviously very good as well now, maybe you could do better here or there on a lot of these one card in particular, that spring to my mind is the uber visa, where you get 4% on restaurants and 3% on travel, a little bit better there.
Can only pay in a Costco store with a Visa Card
That's another card to think about, but when you put that gas and that restaurants and travel together on this Costco card, that is a pretty nice combination. Now look at the 2% that you get back on your Costco purchases, sort of my initial thought was well you 2% back from other credit cards, and you could get that across the board. You could just use those at Costco.
But one thing to remember is that you can only pay in a Costco store with a Visa Card, most of the cards that I know of that our 2 percent flat cashback cards are actually master cards, to have this card that gives you the 2% on Costco purchases is maybe a little more rewarding or a little more unique, then maybe meets the eye when you first think about it.
Now the 1% cashback on everything else, that's no good, there's plenty of other cards that you could use, so no reason to be pulling out the Costco card, when you're for things that don't meet one of those other categories, but overall this is a really nice cashback card, especially for people that don't necessarily want to think a ton about their cards.
Nice bonus categories
You have some really nice bonus categories, here you're getting extra at Costco, I would say that you should probably if you're inclined to at least think about having more than one credit card that you use, pair it up with one of those 2% cashback credit cards is out there, specifically the Citi double cash card or the PayPal cashback Mastercard, both offer you two percent across the board on any purchases that you make with those.
If you have one of that cards and you had the Costco card, that's a pretty nice combination there, you could use one of those other 2% cards for anything that doesn't fit in the categories that I just talked about.
Overall a pretty good card, a lot of Costco members are probably happy that they have access to this, depending on how you like to maximize your cards, you can either pair with others or it's still not a bad everyday card.
Other web page resource
Costco Visa Review: Bulked-Up Savings for Members - NerdWallet: https://www.nerdwallet.com/reviews/credit-cards/costco-anywhere-visa