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The Citi Double Cash® Card and Costco Anywhere Visa® Card by Citi both offer appealing cash-back rewards. However, the way you earn and redeem rewards with each card is dramatically different, so it's important to understand their ins and outs before you make a decision.
CNBC Select has everything you need to know about the Citi Double Cash® Card and Costco Anywhere Visa® Card to make an informed decision, including the benefits, rates, fees and more.
What makes the Citi Double Cash® Card special is that it sits near the top of its class in several categories. It is an excellent option if you want flat-rate rewards, a balance transfer intro-APR or no annual fee.
- Balance transfers get a long intro APR
- Generous flat-rate cash-back rewards structure
- Earns transferable rewards
- No annual fee
- It has a foreign transaction fee
- Intro APR only applies to balance transfer
- Points transfer ratios are reduced compared to premium cards
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, earn 5% total cash back on hotel, car rentals and attractions booked with Citi Travel.
- Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 18.24% - 28.49%, based on your creditworthiness.
- Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Balance transfer fee
There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.
Foreign transaction fee
3%
The Costco Anywhere Visa® Card by Citi is a valuable card to pair with a Costco membership, but the rewards program is more restrictive than what you get with a typical cash-back card.
- High rewards rates for gas/EV charging and travel
- No foreign transaction fees
- Restrictive rewards that you can only cash out once per year
- Requires a paid Costco membership
- No welcome bonus
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Discover one of Citi's best cash back rewards cards designed exclusively for Costco members
- Earn 5% cash back rewards on gas at Costco and earn 4% cash back on other eligible gas and electric vehicle (EV) charging purchases for the first $7,000 combined spend per year, and then 1% thereafter.
- 3% cash back on restaurants and eligible travel purchases and eligible travel, including Costco Travel.
- 2% cash back on all other purchases from Costco and Costco.com
- 1% cash back on all other purchases
- No annual fee with your paid Costco membership and enjoy no foreign transaction fees on purchases
- Receive an annual credit card reward certificate, which is redeemable for cash or merchandise at U.S. Costco warehouses, including Puerto Rico
Balance transfer fee
5% of each balance transfer; $5 minimum
Foreign transaction fee
None
Citi Double Cash vs Costco Anywhere Visa
Annual fee
The Citi Double Cash® Card and Costco Anywhere Visa® Card by Citi have no annual fees. However, the Costco Anywhere Visa requires a Costco membership which costs $65 to $130 a year.
While the cost of a Costco membership may be worth it for you based on what you save at Costco compared to other stores, the membership fee eats into your credit card rewards. The Costco Anywhere Visa earns 2% cash back on all non-travel Costco and Costco.com purchases. At that rate, it takes $3,250 of non-travel Costco purchases each year to offset a $65 membership fee.
Winner: Citi Double Cash Card
Welcome bonus
The Citi Double Cash® Card has a welcome bonus of $200 cash back after spending $1,500 in the first six months of account opening. This bonus is fulfilled as 20,000 Citi ThankYou® Points, which provides additional redemption options beyond cash back.
The Costco Anywhere Visa® Card by Citi has no welcome bonus.
Winner: Citi Double Cash Card
Rewards
The Citi Double Cash® Card and Costco Anywhere Visa® Card by Citi are both rewarding credit cards but for different types of purchases.
Aside from the rewards, it's also important to understand what credit cards you can use at Costco. At Costco warehouses and gas stations, the only credit cards you can use are Visa cards (although other forms of payment are accepted like PIN-based debit cards). However, you can use Mastercard credit cards, like the Citi Double Cash, for Costco.com or in-app purchases.
Citi Double Cash® Card and Costco Anywhere Visa® Card by Citi rewards comparison
| Citi Double Cash® Card | Costco Anywhere Visa® Card by Citi | |
|---|---|---|
| Gas and EV charging | 2% cash back (1% when you buy and 1% when you pay) | 5% cash back rewards on gas at Costco and earn 4% cash back on other eligible gas and electric vehicle (EV) charging purchases for the first $7,000 combined spend per year, and then 1% thereafter. |
| Restaurants | 2% cash back (1% when you buy and 1% when you pay) | 3% cash back |
| Travel | 2% cash back (1% when you buy and 1% when you pay) | 3% cash back (including Costco travel) |
| Costco (In-store) | N/A | 2% cash back |
| Costco.com | 2% cash back (1% when you buy and 1% when you pay)* | 2% cash back |
| All other purchases | 2% cash back (1% when you buy and 1% when you pay) | 1% cash back |
The Citi Double Cash is a flat-rate 2% cash-back credit card (1% when you buy and 1% when you pay). So it's simple and more rewarding for any purchase that falls outside of the Costco Visa's bonus spending categories.
However, if you spend a lot on travel or gas/EV charging, the additional rewards you earn with the Costco credit card add up quickly. If you max out the gas/EV charging category each year, you'd earn $280 cash back, which is an extra $140 compared to the Citi Double Cash.
Winner: Tie, it depends on your spending habits.
Redemption options
Beyond the earning rates, how you can redeem your rewards sets the Citi Double Cash and Costco Anywhere Visa apart.
The Costco Visa is a cash-back card, but you receive a lump-sum certificate for your rewards once a year after your February statement closes. You can redeem this certificate for cash or merchandise at U.S. Costco locations and it expires on Dec. 31 the year it is issued.
With the Citi Double Cash card, you earn cash back in the form of ThankYou® Points, giving you a wide range of redemption options and ThankYou® Points don't typically expire as long as you keep your account open. Most redemptions are worth one cent per point, so 100 points are worth $1.
You can redeem ThankYou® Points with no minimum redemption amount for statement credits or direct deposits. ThankYou® Points can also be used for gift cards, charitable donations, booking travel through the Citi TravelSM portal and more.
With the Citi Double Cash, you can even transfer your Citi points to a handful of partner loyalty programs: JetBlue TrueBlue, Wyndham Rewards, Shop Your Way and Choice Privileges. If you also have the Citi Strata Premier® Card (see rates and fees), you can pool your points and transfer them to all of the Citi ThankYou® Points partners at improved ratios.
Winner: Citi Double Cash
Benefits
Both cards feature some protections and other perks that can provide extra value.
The Costco Anywhere Visa has no foreign transaction fees and offers the following insurance benefits:
- Purchase protection
- Travel accident insurance
- Rental car insurance
- Travel and emergency assistance services
- Roadside dispatch
Thea Citi Double Cash is one of the best Intro APR credit cards and offers new cardholders a competitive promotional APR on balance transfers. It also has extended warranty protection and ID Theft protection (enrollment required).
Winner: Citi Double Cash because of the valuable intro-APR offer.
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Which should you get?
If you're looking for a credit card that offers simple rewards and redemptions, the Citi Double Cash® Card is a good fit. It has a high flat-rate rewards structure and because you earn Citi ThankYou® Points, you can do more with your rewards.
The Costco Anywhere Visa® Card by Citi is more rewarding for travel and gas/EV charging purchases, but outside of those expenses, this card doesn't add much additional value compared to the Double Cash. The way you redeem rewards is also clunky and you can only redeem them at Costco. So the Costco Anywhere Visa only makes sense for a serious Costco shopper.
Citi Double Cash® Card and Costco Anywhere Visa® Card by Citi overview
| Citi Double Cash® Card | Costco Anywhere Visa® Card by Citi | |
|---|---|---|
| Credit score requirement | Good to excellent | Excellent |
| Welcome offer | Yes | None |
| Annual fee | $0 | $0, requires a paid Costco membership |
| Rewards | 2% back on every purchase (1% you buy and 1% when you pay) | 5% cash back rewards on gas at Costco and earn 4% cash back on other eligible gas and electric vehicle (EV) charging purchases for the first $7,000 combined spend per year, and then 1% thereafter; 3% cash back on restaurants and eligible travel purchases and eligible travel, including Costco Travel; 2% cash back on all other purchases from Costco and Costco.com; 1% cash back on all other purchases |
| Intro APR | Yes | None |
| Standout benefits | Extended warranty protection | Travel and shopping protections |
FAQs
Is the Citi Double Cash easy to get?
The Citi Double Cash® Card is relatively easy to get as it only requires a good credit score or higher, while the top cards typically require good credit or higher.
Can you have more than one Citi credit card?
You can have more than one Citi credit card. However, banks limit how much credit you're offered based on your income, credit score and other factors. How much credit you are currently issued from Citi could limit your opportunity to open new cards in the future.
Can I use the Citi Double Cash Card in Costco?
You cannot use a Citi Double Cash Card in Costco because it's a Mastercard and the only credit cards Costco accepts for in-store purchases are Visa cards. However, you can use Mastercard credit cards, like the Citi Double Cash, for online or in-app Costco purchases.
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At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
