Or you can transfer them to over a dozen travel partners., To help fulfill the requirements of the welcome offer, it might make sense to start using your Venture X for all eligible purchases (including at Costco) once you receive it. Some of the larger credit card providers likeChase offer several rewards cards, all with attractive features. Reward points are only redeemable at Costco warehouse stores and on Costco.com. Speak with a financial advisor today. Enter your cell phone number and well send you a link to install the WalletHub app. July 30, 2022, 5 Things You Must Do Before The Next Recession, credit card with no foreign transaction fees, Capital One Venture X Rewards Credit Card, Capital One Quicksilver Cash Rewards Credit Card, 5X points on Lyft rides and travel booked through Chase Ultimate Rewards, 25% more value when redeeming rewards for travel through Chase Ultimate Rewards, $50 annual credit on hotel stays booked through Ultimate Rewards, Typically need to spend thousands to reap rewards, Up to $300 in annual statement credits when booking through Capital One Travel, Global Entry or TSA PreCheck application fee credit, Access to Capital One and Priority Pass lounges, Bonus rewards on travel, dining, and drugstores, 0% intro APR on purchases and balance transfers, Intro purchase 0% APR offer: 0% In addition, it is not any companys responsibility to ensure all questions are answered. Typically, this charge is 2% 3%. In addition, balance transfers get an introductory 0% APR in the first 12 months, which will revert to the standard variable APR of 13.99%-23.99%. FinanceBuzz is reader-supported. Frequent shoppers could make the most of their spending using the Chase Freedom Unlimited. Instead of being locked into using an American Express card, members can now take advantage of the variety of Visa cards available in the marketplace. We are committed to being fully transparent with our readers. The Costco website indicates that, in addition to Visa cards, you can use a Mastercard or Discover card for online purchases. And since the card,Costco Anywhere Visa Card by Citi, is a Visa,Costco has to accept all Visa cards now. Privacy Policy | Ad Disclosure, How to Switch Phone Carriers (Without Making a Mistake), Best Credit Cards for Saving and Investing Rewards, Blue Cash Preferred Card from American Express, Best Auto Insurance Companies and Ones To Avoid, Best and Worst Homeowners Insurance Companies, Best Renters Insurance Companies and Ones To Avoid, Renters Insurance: Things to Know Before You Buy, Things to Know Before You Cancel Your Streaming TV Subscription, How to Find the Best Deal on Cheap Internet Service, Free Advice: Clarks Consumer Action Center, Ask Clark: Submit a Question for the Show. You may want to hire a professional before making any decision. You can tell if your card is a Visa by looking for the Visa logo (usually on the front). Having a credit card ready to pay for all the unexpected finds at the store is a good idea, but you better make sure it's a Visa Costco does not accept any other credit cards. Can I get the new Costco Anywhere Visa if I previously had the Amex version? Information on WalletHub Answers is provided as is and should not be considered financial, legal or investment advice. Plus, Mastercard and Visa cards are accepted just about universally within those regions. I researched the credit cards that Costco will accept, and I have some recommendations for which ones to use to get top rewards while shopping at Clark Howards favorite retailer. You may only be allowed to use a Visa at the warehouse but you can pay with Visa, Mastercard, or Discover at Costco.com. 16. And we pore over customer reviews to find out what matters to real people who already own and use the products and services were assessing. Fortunately, cardholders enjoyed more perks with this card than were previously provided with Costcos Amex cards. Last updated adviser representatives (RIA/IARs) that have elected to participate in our matching platform based on And then there's liquor. Money expert Clark Howard carries this card as one of the five personal credit cards in his wallet. Yes, the Today Show publicized this hack several years ago and it still works. Notably, American Express isnt accepted by Costco online. Yes, customers dont need to have a Visa card to pay for their Costco purchases. Gas purchases at Costco and other gas stations earn a 2% reward. when you go abroad. SmartAsset does not review the ongoing information gathered from users through our online questionnaire. Customers can, however, use Mastercard and Discover cards for purchases made on the Costco website and through the Costco app. Plus, Mastercard and Visa cards are accepted just about universally within those regions. However, Costco membership of at least $60 per year and a good credit score are needed to get approved. Amex cards still have hit-or-miss acceptance in many. ZDNet independently tests and researches products to bring you our best recommendations and advice. Costco takes all Visa credit cards, debit cards and gift cards. This is the equivalent of 1.5% cash back. Best of all, there are no limits on how much cash back you can earn. In fact, you could earn more spending outside of Costco than at the store, especially if you refuel frequently (gas purchases earn the highest rewards). If you dont have a Visa, you can pay with cash, checks, ATM/debit cards, Electronic Benefit Transfer (EBT), Costco Shop Cards or mobile payment apps. Return or Replace your Costco.com Online Order, Personal checks from current Costco Members, Business checks from current Costco Business Members, Mobile Payment (Apple Pay, Google Pay, Samsung Pay), Discover Cards (Including JCB and Diners Club). When deciding on what type of Visa would complete your checkout journey at Costco best, there are several things to consider. Unless you plan on regularly using the associated rewards, such as free travel redemptions, choosing a card with no annual fee may be the wisest choice. If youve wondered what credit cards are accepted at Costco and how to maximize earning rewards, heres what you need to know. There's a pharmacy and tire sales/installation section as well as a gas station. Then, Costco moved on to an even larger credit network in Visa. The 2% rewards bonus is applicable on purchases. When shopping online with Costco, you will have more payment options than when you are shopping in the store. *Costco Shop Cards can be purchased at any U.S. Costco location or on Costco.com. Gold Star is the basic membership for $60 per year. All investing involves risk, including You can take a card like this and really maximize your rewards with things like 4% cash back on gas.If youre already a member anyway, I love the wholesale club cards as a no-annual-fee card option., If youre already a member anyway, I love the wholesale club cards as a no-annual-fee card option.. But you dont have to have the stores Visa card to benefit from the stores switch to Visa. There's no annual fee for carrying the Cash+ and you can receive $150 in rewards as a bonus if you spend $500 within 90 days of approval. This answer was first published on 08/20/20 and it was last updated on 05/20/22. SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is They do not accept Mastercard, American Express, or Discover cards. However, non-members can enter the warehouse if they are accompanied by someone with a membership card. Special Edition - Streaming Servers - US/UK, AMD Ryzen - 1 GBPS - Super Dedicated Servers, DMCA - UKR - Dedicated Servers - 1GBPS To 10GBPS Port Speed, Metered Servers - Limited Speed - Upto 1GBPS, Unmetered Media Servers - Upto 10 GBPS | 40 GBPS. If you'd prefer to avoid credit, you can always use cash or purchase the Costco Shop Card, a prepaid gift card available in amounts between $25 and $2,000. At Costco and other warehouse stores, the revenue margin is fairly small, because they sell the goods for close to wholesale price. Major Retailers That Dont Accept American Express: Costco, small non-chain stores/restaurants, So, an American Express card is enough for your shopping within the U.S. Finally, if you're looking for a credit card simply to make payments at Costco, you may want to apply for the Costco Anywhere Visa by Citi. Costco also accepts cash, checks, debit/ATM, EBT, and Costco Shop Cards. This is not an offer to buy or sell any security or interest. SmartAssets We gather data from the best available sources, including vendor and retailer listings as well as other relevant and independent reviews sites. Though you may find some stores that dont take it, the majority will. That said, you could potentially earn more points by using a card with a higher cashback value, like the Chase Freedom Unlimited, and then moving the points to your Chase Sapphire Preferred Card. Costco only accepts Visa credit cards, so we've listed cards that will help you stretch your dollar to earn more rewards. Chase has several Visas that are accepted at Costco. However, if you know what to expect in advance, you can quickly make a mental note on which of your cards will work with the wholesale giant. Yes, Costco accepts all Visa credit cards, Visa debit cards and Visa gift cards. The bank sends the approval or denial back to the network, which sends it to the processor, then the store. But that deal ended in 2016 and it is now Visa that owns the exclusive in-store purchase rights. With such low credit card fees, Costco is able to keep its prices low. Rewards can exclusively be redeemed at Costco and you'll earn 2% cash back for store purchases plus 4% cash back for gas (up to $7.000). Please enter a number between 8 and 64 for the password length. Costco Anywhere Visa Card by Citi is available for no annual fee to Costco members, and offers better rewards than its American Express predecessor. Then, once youve racked up enough points, you can redeem them for travel or other rewards instead of cash back, since your points could stretch further that way. Costco also accepts cash, checks, debit/ATM, EBT and Costco Cash Cards. If you're a regular shopper at Costco, choosing the right Visa credit card could help you earn rewards faster. To provide you with a variety of options from different financial institutions, we picked one "best" credit card per issuing bank based on the highest potential to earn rewards. Think about how much spending you plan on doing at Costco (and in general). By submitting this form you agree to receive emails from FinanceBuzz and to the privacy We have not included all available products or offers. This has been the case since June 2016, when Costco switched from only accepting American Express cards. read full answer. (which will reduce returns). This is a great card to use for Costco purchases, and the savings youll receive at the wholesale club are a great way to maximize the value of your membership. FinanceBuzz and CardRatings may receive a commission from card issuers. pay by cash or check. This has been the case since June 2016, when Costco switched from only accepting American Express cards. The network relays the information to the cards issuing bank (e.g. Get 2% cash back on grocery, gas and restaurant spending or 1% on everything else. But youll probably want to have a no foreign transaction fee Visa or Mastercard when you go abroad. They simply wont work. Hire the best financial advisor for your needs. While only members can buy Shop Cards, a person who has one can enter the store and buy merchandise with it. But in 2016,the warehouse chain made the switch to Visa. 5% cash back on your first $2,000 in eligible net purchases each quarter on the combined two categories you choose. Youre smart to want to know whichcredit cards Costco accepts, because it only accepts one: Visa. Amex used to have an agreement with Costco to be the exclusive credit card accepted in stores, but that changed in 2016 and now Amex cardholders are simply out of luck. Costco warehouses allow non-members to shop at the club and pay for items using the Shop Card without having a membership. Yes, Costco warehouses and gas stations accept Visa credit cards. Its not common for retailers to have an exclusive relationship with one card network. However, if youre shopping at Costco.com or on the Costco app, youll see that your options open up to other types of credit cards. This is a great option when you foresee spending more on certain items. Are you considering a Costco membership but youre worried that the wholesale giant wont accept your preferred credit card? This equates to being able to earn a large number of rewards at all times without any specific categories to worry about. Basically, Visa talks to the customers bank on Costcos behalf, gets the approval, and transmits the funds. FinanceBuzz.com does not make any credit decisions. In fact, Costco has a contract with Visa and only takes Visa cards. However, keep in mind that this card is best for the Costco long-hauler. Plus, you can earn 5% on travel (through the Chase Ultimate Rewards website), 3% on drugstore or dining purchases and 1.5% on every other purchase. Popular Credit Cards That Costco Will NOT Accept In-Store, Citi Double Cash Card 18 month BT offer, Best Cash Back Credit Cards: Top Picks for 2022, Best 0% Intro APR Credit Cards: Top Picks for 2022, Best Travel Credit Cards: Top Rewards Picks for 2022, Best Rewards Credit Cards: Top Picks for 2022. That means that at least 250 million more Americans can use their credit cards at Costco. WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our. It also has the benefit of being a Visa card, which is accepted at more merchants worldwide than American Express. Note that youll need a valid government-issued ID to pay by check. The U.S. Bank Cash+ Visa Signature Card allows you to choose a couple of categories each quarter to earn 5%. The Costco card is great, particularly if you are the kind of person who will say, I can use this card at this place and that card at that place, says Clark. registered with the U.S. Securities and Exchange Commission as an investment adviser. While that includes many credit and debit cards available on the market, some popular brands are still being left out. Costco gas stations and Costco car washes, however, do not accept cash, checks or EBT. WalletHub is not a financial advisor, law firm, lawyer referral service, or a substitute for a financial advisor, attorney, or law firm. There are no guarantees that working with an adviser will yield positive returns. 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter, 3% cash back on restaurants and eligible travel purchases, 2% cash back on all other purchases from Costco and Costco.com, Earn cash back on all your purchases, to be redeemed at Costco, Available as a personal and business card, Rewards can only be redeemed in person at Costco. Many Visa issuers offer bonus rewards categories for warehouse stores, meaning you can earn extra cash back or reward points by using your Visa card at Costco just check your cards reward categories. But things are a bit better than they used to be. There's no annual fee and the variable APR is 15.49%. We then analyzed credit card terms, including bonus rewards offered for Costco purchases as well as annual fees, cardholder perks, and spending bonuses for new card members. If youre making an in-store purchase at a Costco Wholesale Warehouse, you must use a Visa-branded credit card. But if Costcos credit card doesnt interest you, you can use any Visa you want. The Costco Anywhere Visa Card's rewards can only be redeemed in person at a Costco store. Is an annual fee worth it? Earn 60,000 points after spending $4,000 on purchases in the first 3 months, 5X points on Lyft rides and travel booked through Chase Ultimate Rewards; 3X points on eligible dining, select streaming services, and online grocery purchases; 2X points on travel; and 1X points per $1 on all other eligible purchases, The Capital One Venture X Rewards Credit Card offers a generous early spend bonus after qualifying for the card. Plus, Discover matches cash back earned in the first year of card membership. However, you will need to have a Costco membership ($60+ per year) in order to get it. It doesnt have to build credit card fees into its markup, as many of its competitors who pay 3% per transaction might. Payment networks are the key to credit card payments. If youre going to use a Mastercard for shopping online with the wholesale retailer, here are three cards Team Clark suggests using for maximized rewards on Costco spending. Using the card at Costco may only qualify for 1% cash back but refueling earns you 2%. If we have made an error or published misleading information, we will correct or clarify the article. Once per year, Gold Star Executive members get 2% cash back of their annual spending in the form of a rebate check which can be used to renew their membership or pay for merchandise. It's the only branded Costco card, integrated with shopping at the warehouse club. There is no annual fee, which is helpful considering a Costco membership is $60 or $120. advice regarding specific investments. If you don't have a Visa credit card, you could also use a Visa debit card to pay for purchases and gas at the warehouse. Here are some of the top contenders that can help you earn generous rewards on Costco purchases: The Chase Sapphire Preferred Card has an impressive welcome bonus that gets you $750 toward travel if you redeem your points through Chase Ultimate Rewards. Costco is more than just a store to buy food and household supplies the warehouse club also sells furniture, sporting goods, apparel and more. FinanceBuzz is not a financial institution and does not provide credit cards or any other financial products. Our goal was to find affordable cards that offered both ample perks for cardholders as well as extra rewards for those who tend to spend a lot at Costco stores. 2022 Clark Howard Inc. By using this website, you accept the terms of our Visitor Agreement and Privacy Policy, and understand your options regarding Ad Choices. Also, the opportunity to earn an extra 1.5% cash back on all eligible purchases, on up to $20,000, in the first year is an added bonus, especially since this card has no annual fee. Please do not use special characters. Wallethub doesnt charge for this service. We strive to provide up-to-date information, but make no warranties regarding the accuracy of our information. Our goal is to deliver the most accurate information and the most knowledgeable advice possible in order to help you make smarter buying decisions on tech gear and a wide array of products and services. Avid Costco shoppers looking for a seamless integration between membership, rewards and spending will like the flexibility of the Costco Anywhere VIsa Card by Citi. Citi or Chase), which then approves or denies the transaction based on the cardholders available credit. This helps support our work, but does not affect what we cover or how, and it does not affect the price you pay. 2022 ZDNET, A RED VENTURES COMPANY. Shop Cards are rechargeable and don't expire so you can use them for gas, food court and shopping whenever you need. However, in terms of a rewards card, you may get more value from one of thebest cash back credit cards,like the Chase Freedom Unlimited - especially when paired with a Chase premium card such as the Chase Sapphire Preferred. Concierge service is also available 24/7 to help you with travel, entertainment and dining bookings. If you see inaccuracies in our content, please report the mistake via this form. When a credit card is swiped in a store, the transaction information is sent through the credit card processor to the payment network (in this case, Visa). Earn an extra 1.5% cash back on all eligible purchases, on up to $20,000, in the first year, 5% on travel purchased through Chase Ultimate Rewards, 3% on dining and drugstore purchases, and 1.5% on all other purchases, While theres no sign-up bonus on the Costco Anywhere Visa Card by Citi, the 3% back on eligible restaurant and travel purchases and 4% back for eligible gas purchases (on up to $7,000 per year) are impressive benefits for a card with no annual fee.. The largest members-only warehouse club in the country, Costco has an exclusivity deal with Visa, the largest credit network in the world. Copyright 2022 JRY Hosting Services. This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as. Gold Star Executive for $120 per year is also available. It also made shopping more flexible for current Costco members. You could also get 5% back on Costco.com purchases if the rotating category is PayPal purchases. Editorial and user-generated content is not provided, reviewed or endorsed by any company. Editorial and user-generated content is not provided, reviewed or endorsed by any company. Amex cards still have hit-or-miss acceptance in many. The Apple Card is on the MasterCard network and is not accepted at Costco stores. The Costco card is great, particularly if you are the kind of person who will say, I can use this card at this place and that card at that place, says Clark. Take control of your assets with the help of a financial advisor. To select the best Visa credit cards, we looked at over two dozen options and compared fees, rewards, and special features. Before Visa was Costco's accepted card, members could pay exclusively with American Express. For example, Costco only accepts Visa cards now, after switching from Amex only in 2016. 2% cash back on your choice on one everyday category, like Gas Stations, Grocery Stores or Restaurants. You can read Team Clarks full review of the Costco Anywhere Visa Card for more details. You can put $25 to $2,000 on a card. Non-members use Costco Shop Cards as a hack to get around the annual membership fee. The no-interest period will come in handy to pay off larger Costco purchases such as furniture, electronics or appliances. Categories include furniture, electronics, sporting goods, select clothing and department stores, as well as utilities, streaming and internet service. Warehouse-club bonus category doesn't come up often. If youre a frequent Costco shopper, the simplest solution to credit card spending at the store may be signing up for the Costco Anywhere Visa Card by Citi. Plus, Discover matches your miles earned in the first year of spending, making it an effective 3% back. By switching its sole credit provider from American Express to Visa, Costco expanded its potential client network by millions. The miles earned from this bonus can be used in the Capital One travel portal for flights, hotel stays, and more. You could, however, load your Apple Card into your Apple Pay account and pay for your Costco purchases that way. Not many premium travel cards offer this same type of convenience. To start, Costco only accepts Visa as a credit card form of payment. If you want to use your debit card as credit in store, you will first need to check that your card has a Visa logo on it and then you will know this is possible. This answer was first published on 08/20/20 and it was last updated on 05/20/22.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. There are two types of Costco membership available. You'll earn rewards regardless of where the purchases are from. The policy ruled out all MasterCard, Discover, and American Express cards. Costco entered into a deal with Citi for it to be the issuer of Costcos credit card. You'll need to be a member first before you can qualify. Premium Visa credit cards with travel perks and concierge service often require very good to excellent credit. Heres where American Express is accepted: Where American Express is Accepted in the U.S. Where American Express is Accepted Internationally: Countries Where American Express is Accepted Most: Places Where American Express is Not Accepted: Major Retailers That Accept American Express: Amazon, IKEA, Sears, Target, Walmart, Lowes, Apple, Best Buy, Staples, CVS. Search text is invalid. All Rights Reserved. How can I redeem American Express rewards points? History: For 16 years, Costco accepted only American Express credit cards due to an exclusive partnership. But a few years ago, the retailer made the switch to Citi Visa. So, coverage in a lot of countries is hit or miss. read full answer. Opinions expressed here are the authors and/or WalletHub editors'. To shop in the store, you'll need to pay an annual fee of $60 or $120 to join. This may surprise some consumers because Costco used to have an exclusive in-store relationship with Amex. FinanceBuzz is an informational website that provides tips, advice, and recommendations to help you make financial decisions. For rewards credit cards, this is one of the highest rates out there. Take advantage of member savings on big-ticket items like furniture and appliances, since the more you spend with your card, the more youll earn. Why don't more retailers accept American Express? Costco warehouses and gas stations only accept Visa credit cards, cash, debit cards, and Costco Shop Cards (gift cards). You won't hit caps on spending to earn rewards when you use the Chase Freedom Unlimited Visa. There are certain treasures you can only find at Costco that make the membership cost well worth it. Buzzery, LLC NMLS ID # 2317173 NMLS Consumer Access. Therefore, the credit card isn't worth having if you're not a member if you plan on cashing in the rewards earned. WalletHub editorial content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by any company. If a Costco member buys you a store gift card, aka Costco Cash Card, you can use it in the store without a membership. Plus, despite the good number of foreign countries where you can use American Express cards, acceptance is on a merchant-by-merchant basis. performance of any RIA/IAR, participate in the management of any users account by an RIA/IAR or provide Earn 75,000 bonus miles after spending $4,000 on purchases in the first 3 months, 10X miles per dollar on hotels and car rentals booked through Capital One Travel and car shares booked through Turo; 5X miles on flights booked through Capital One Travel; and 2X miles per dollar spent on everything else. Get special access to purchase tickets to thousands of events with Citi Entertainment, 4% cash back on eligible gas purchases (up to $7,000), 3% on restaurant and travel purchases, 2% on all other Costco purchases, and 1% on everything else. The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. 7 Mistakes You'll Make When Hiring a Financial Advisor, Take This Free Quiz to Get Matched With Qualified Financial Advisors, Compare Up to 3 Financial Advisors Near You. You can take a card like this and really maximize your rewards with things like 4% cash back on gas. When selecting the best credit cards to use at Costco, we first began by identifying which cards this big box store accepts. Costco members often jokingly remark that they went in for a handful of items and left with hundreds of dollars of items they didn't realize they needed. Indeed, we follow strict guidelines that ensure our editorial content is never influenced by advertisers. This includes 4% back on gas purchases for the first $7,000 per year(then 1%) and 3% back on dining and travel purchases. However, a sign-up bonus of no interest for 15 months also applies to balance transfers made in the first six months. Here are our favorites. Also gives 3% back on dining and travel. Make sure you dont plan to rely on these popular credit cards to shop at your local Costco or try to use them at the pump at the Costco gas station. American Express is accepted at 10.6 million merchant locations in the U.S. and in 160+ countries and territories abroad. services are limited to referring users to third party registered investment advisers and/or investment ZDNet's recommendations are based on many hours of testing, research, and comparison shopping. This means you cannot use Mastercard, Discover or American Express cards at Costco. for 15 months then 16.49% to 25.24% (variable). Best unsecured credit cards 2022: Bad credit? You can use Samsung Pay at Costco, as well as Apple Pay and Google Pay. The Active Cash card is part of the premium Visa Signature program, which provides extra benefits to cardmembers. JRY Hosting Services, 100 Mason Road, Texas, USA. If you're looking to rack up your cashback with one of the best rewards credit cards, the Chase Freedom Unlimited can be a great way to earn up to 5% cash back. Do you shop at Costco often? 'ZDNet Recommends': What exactly does it mean? The Costco Anywhere Visa card is one of the best Visa cards to use at Costco. These days, non-Visa cards no longer work at Costco, so youll need a Visa card to pay and earn rewards. Another thing to keep in mind is that Costco gas stations and car washes dont accept cash, checks, or EBT, so youll need to pay with your Visa card, debit/ATM card, or Costco Shop Card to complete a transaction. Its bonus points include 4% back on up to $7,000 per year (and 1% thereafter) in eligible gas purchases, 3% back at restaurants and on eligible travel, 2% back at Costco and on Costco.com and 1% back on everything else. To use the payment network, the merchant must pay an interchange fee, which is a percentage of the charge amount. That could be up to 3% cash back if you choose to deposit the rewards into a qualifying SoFi money account. The helpfulness of a financial advisor's answer is not indicative of future advisor performance. You can redeem the rewards you earn several ways: withdraw them as cash from an ATM, use the balance for purchases, buy gift cards, and more.