As a Costco member, you may have noticed the company`s recent shift to a new credit card agreement. Costco has teamed up with Citibank to offer its members a co-branded credit card, the Costco Anywhere Visa Card. This card offers cash back rewards on purchases and replaces the American Express card that was previously accepted at Costco.

In order to fully understand the terms and conditions of the Costco Anywhere Visa Card, it is important to review the credit card agreement. The agreement outlines the terms of the card, including interest rates, fees, and rewards. It is important to fully understand the agreement before applying for the credit card.

Interest Rates and Fees

The credit card agreement states that the interest rate for purchases on the Costco Anywhere Visa Card is variable and is currently set at 16.74%. Interest rates may change based on market conditions and other factors. In addition, the agreement outlines fees associated with the card, including cash advance fees and late payment fees. It is important to review this information and understand all applicable fees to avoid unnecessary charges.

Rewards Program

One of the biggest perks of the Costco Anywhere Visa Card is its rewards program. The card offers cash back rewards on purchases made at Costco and other merchants. The agreement outlines the details of the rewards program, including how rewards are earned and redeemed. Cardholders can earn 4% cash back on eligible gas purchases (up to $7,000 per year, then 1% thereafter), 3% cash back on restaurants and travel, 2% cash back on all purchases at Costco and Costco.com, and 1% cash back on all other purchases.

Other Terms and Conditions

The credit card agreement also outlines other important terms and conditions, including authorized user responsibilities, billing rights, and dispute resolution processes. It is important to read and understand all of the terms and conditions in the agreement to ensure the best possible experience with the credit card.

Conclusion

The Costco Anywhere Visa Card is a great option for Costco members who want to earn cash back rewards on their purchases. However, it is important to carefully review the credit card agreement to fully understand the terms and conditions of the card. By doing so, you can avoid unnecessary fees and maximize your rewards potential.