Credit Card
Welcome offer | Rewards rate | Annual fee | Minimum credit |
---|---|---|---|
None | 1%, 2%, 3% or 4% cash back | 0 | 700 |
The Costco business credit card from Citibank is a store card unlike any other—you’ll be able to use it anywhere, and earn extra for non-Costco spending. Be sure to note, though, that you’ll only be able to redeem rewards for Costco purchases, and you’ll only be able to do so on an annual basis.
As you spend with the Costco business credit card, you’ll earn cash back that you can apply toward Costco purchases. This is where being a frequent shopper at Costco and a Costco business credit cardholder really start to work together to help you out.
This cash back will roll in at the following rates:
Important to note: These Costco cash back rewards roll in annually, not as you earn them. That can prove to be a headache for some business owners who want to access rewards as soon as they earn them, as they’re typically able to with other cash back business credit cards.
But if you’re spending a lot on gas—but not much more than $7,000 every year—then this 4% cash back rate is tough to beat, even if this cash back is only applicable to Costco purchases.
Technically, the Costco business credit card doesn’t come with an annual fee. However, the Costco business credit card requires cardholders to be Costco members. So, if you’re already paying the Costco membership fee, that’s no problem—you’re already budgeting for that. But if you’re not yet a member, you’ll need to factor in the yearly cost of membership—starting at $60—when evaluating this card option.
Additionally, the Costco business credit card won’t assess a foreign transaction fee for purchases you make abroad. You’ll truly be able to use the Costco Anywhere Visa anywhere without having to worry about sneaky fees.
So, now that we’ve combed through the details on the Costco business credit card, let’s highlight and dive deeper into the most notable of these details.
Here are the biggest advantages of choosing the Costco business credit card for your business spending:
Because the Costco business credit card is also a Visa Signature Business credit card, it comes with some pretty stellar cardholder benefits.
Namely, you can access some surprising travel perks like:
Yet again, the Costco Anywhere Visa business credit card lives up to its “anywhere” surprisingly well. And if you travel at all for business, these are perks that are hugely helpful—especially when you don’t know you need them. (If you’ve ever had to track down a suitcase in a foreign country, you know.)
Though this might not seem like much to boast, the Costco business credit card works anywhere—and that’s more than a lot of store cards can tout. Because, the Costco business credit card is also a Visa card, you’ll be able to use it outside of Costco stores and Costco.com. Meanwhile, other store cards will only be valid for purchases at their store or on their website.
This makes the Costco business credit card an outlier in the store-card market, so keep this detail in mind if you’re determined to spend with a brand-specific business credit card.
Though the Costco business credit card can outperform other store cards, it will still come with some tell-tale downsides characteristic of a typical store card.
Let’s see the main downsides to the Costco business credit card you’ll need to keep in mind:
Though the Costco business credit card won’t come with an annual fee, you will have to pay a yearly fee to be a Costco Member, which is required for all Costco business credit cardmembers. This membership fee will start at $60 a year, so if you’re not already a Costco member, that’s a fee that you’ll need to include in your calculation of this business credit card’s cost.
Generally speaking, business credit cards will allow you to redeem the rewards you earn as you see fit. If cash flow is tight, you can usually apply your cash back rewards to your monthly statement as needed. And if you’re going on a big business trip, you can typically apply your travel rewards with the click of a button.
But with the Costco business credit card, you’ll only be able to redeem the rewards you earn on an annual basis, which can seriously stifle just how useful these rewards are for your business.
Finally, though you’ll be able to use your Costco Anywhere business credit card, well, anywhere, the rewards you earn with it won’t be quite as universal. They will be Costco-specific rewards that you will only be able to redeem for Costco purchases. If you’re doing a lot of business spending at Costco, then this is fine, but will ultimately limit how you’re able take advantage of the rewards you earn.
Credit Card
Great For: Typical business expenses
Read Full ReviewIntro apr | Regular apr | Annual fee | Minimum credit |
---|---|---|---|
0% | 13.99% – 19.99% | 0 | 660 |
Credit Card
Great For: Earning cash back and a long 0% intro APR period
Read Full ReviewIntro apr | Regular apr | Annual fee | Minimum credit |
---|---|---|---|
0% | 14.74% – 22.74% | 0 | 660 |
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American Express Blue Business Cash™ Card | Ink Business Cash® Credit Card | The Blue Business® Plus Credit Card from American Express | Ink Business Unlimited® Credit Card |
Fundera Score 4.7
| Fundera Score 4.4
| Fundera Score 4.8
| Fundera Score 4.6
|
Welcome Offer$250 | Welcome Offer$750 cash back | Welcome Offer15,000 points | Welcome Offer$750 cash back |
Rewards Rate2% or 1% cash back | Rewards Rate5%, 2% or 1% cash back on purchases | Rewards Rate2 points | Rewards Rate1.5% cash back |
Annual Fee$0 | Annual Fee$0 | Annual Fee$0 | Annual Fee$0 |
Minimum CreditExcellent (660-699) | Minimum CreditExcellent (660-699) | Minimum CreditExcellent (700+) | Minimum CreditExcellent (660-699) |
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American Express Blue Business Cash™ Card |
Fundera Score 4.7
|
Welcome Offer$250 |
Rewards Rate2% or 1% cash back |
Annual Fee$0 |
Minimum CreditExcellent (660-699) |
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Ink Business Cash® Credit Card |
Fundera Score 4.4
|
Welcome Offer$750 cash back |
Rewards Rate5%, 2% or 1% cash back on purchases |
Annual Fee$0 |
Minimum CreditExcellent (660-699) |
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The Blue Business® Plus Credit Card from American Express |
Fundera Score 4.8
|
Welcome Offer15,000 points |
Rewards Rate2 points |
Annual Fee$0 |
Minimum CreditExcellent (700+) |
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Ink Business Unlimited® Credit Card |
Fundera Score 4.6
|
Welcome Offer$750 cash back |
Rewards Rate1.5% cash back |
Annual Fee$0 |
Minimum CreditExcellent (660-699) |
Sally Lauckner is the editor-in-chief of the Fundera Ledger and the editorial director at Fundera.
Sally has over a decade of experience in print and online journalism. Previously she was the senior editor at SmartAsset—a Y Combinator-backed fintech startup that provides personal finance advice. There she edited articles and data reports on topics including taxes, mortgages, banking, credit cards, investing, insurance, and retirement planning. She has also held various editorial roles at AOL.com, Huffington Post, and Glamour magazine. Her work has also appeared in Marie Claire, Teen Vogue, and Cosmopolitan magazines.