Yes, the Costco Visa card is worth it for frequent Costco shoppers and those who can take advantage of its rewards program.
The Costco Visa card offers cash back on purchases, which can add up quickly if you shop at Costco regularly.
You earn 4% cash back on eligible gas purchases, 3% on restaurant and travel purchases, 2% on Costco purchases, and 1% on all other purchases.
There’s no annual fee, but you must maintain your Costco membership, which is a small price to pay if you utilize the card’s benefits effectively.
If you’re a frequent traveler, the travel benefits can also be appealing, including travel insurance and no foreign transaction fees.
However, if you rarely shop at Costco or don’t spend much in the categories that earn higher rewards, it might not be the best fit for you.
Also, be mindful of the interest rates. If you tend to carry a balance, the high-interest charges could outweigh the benefits of rewards.
Overall, the Costco Visa card makes sense for those who maximize its rewards and pay off balances promptly.
What are the main benefits of the Costco Visa card?
The main benefits include cash back rewards on various purchases, travel perks, and no foreign transaction fees.
Is there an annual fee for the Costco Visa card?
There is no annual fee for the card itself, but you must maintain an active Costco membership.
Can I use the Costco Visa card anywhere?
Yes, the Costco Visa card can be used anywhere Visa is accepted, not just at Costco.
What happens if I don’t pay my balance in full?
If you don’t pay your balance in full, you’ll incur interest charges, which can be quite high.
How does cash back work with the Costco Visa card?
Cash back is earned based on your purchases and is typically issued once a year as a reward certificate.