The Costco Anywhere Visa® Card by Citi is a popular choice among Costco members due to its rewarding cash back program. Among the many perks the card offers, one of the most appealing is the 4% cash back on eligible gas purchases. But what exactly is “eligible gas” for the Costco Citi Card, and how can you maximize this benefit? Let’s delve deeper into this topic.
“Eligible gas” for the Costco Anywhere Visa® Card by Citi refers to gas purchases that qualify for the 4% cash back reward. This generally includes gas purchases made at Costco and most other gas stations. However, gas purchased at superstores, supermarkets, convenience stores, and warehouse clubs other than Costco, as well as fuel used for non-automotive purposes, does not qualify for the 4% cash back.
Understanding the Costco Citi Card
Before we define what “eligible gas” means, it’s important to understand what the Costco Citi Card is and its primary features. The Costco Anywhere Visa® Card by Citi is a credit card designed exclusively for Costco members. It offers cash back rewards on various categories, including:
- 4% cash back on eligible gas and EV charging purchases (at Costco or elsewhere) on up to $7,000 per year, and 1% thereafter.
- 3% cash back on restaurants and eligible travel purchases.
- 2% cash back on all other purchases from Costco and Costco.com.
- 1% cash back on all other purchases.
Additionally, the card has no annual fee with a paid Costco membership and no foreign transaction fees. It also offers several protection services such as damage and theft purchase protection, travel and emergency assistance, and roadside assistance dispatch service.
To qualify for the Costco Anywhere Visa® Card by Citi, you generally need a credit score of 720 or better. A Costco membership is also required, which costs $60 or $120 a year, depending on the type of membership.
Defining “Eligible Gas”
“Eligible gas” refers to gas purchases that qualify for the 4% cash back reward. This includes gas purchases made at Costco and almost all other gas stations. However, there are a few exceptions. You will not receive the 4% cash back on gas purchased at superstores, supermarkets, convenience stores, and warehouse clubs other than Costco. Fuel used for non-automotive purposes is also excluded from the 4% cash back category.
How the Rewards Program Works
Each time you use your Costco Citi Card to purchase eligible gas, you earn 4% cash back on the first $7,000 per year, and then 1% thereafter. The cash back rewards are provided as an annual credit card reward certificate once your February billing statement from Citi closes. The reward certificate can be redeemed for cash or merchandise at U.S. Costco Warehouses, including Puerto Rico.
Maximizing Your Gas Rewards
There are several strategies you can employ to maximize your gas rewards. Firstly, use your Costco Citi Card for all your gas purchases to take full advantage of the 4% cash back. Secondly, fill up at Costco gas stations whenever possible as they often offer lower-cost fuel. Thirdly, keep track of the annual cap. Once you reach $7,000 in gas purchases in a year, the cash back rate drops to 1%. Lastly, if you own an electric vehicle, use your card for EV charging to earn 4% cash back on these purchases as well.
In conclusion, the Costco Anywhere Visa® Card by Citi offers significant cash back rewards on gas purchases. By understanding what constitutes “eligible gas” and how to maximize these rewards, you can ensure you’re getting the most out of your card.
Frequently Asked Questions
Can I earn cash back on gas purchases made outside the United States?
Yes, the Costco Anywhere Visa® Card by Citi allows you to earn cash back rewards on gas purchases worldwide, as long as they are not from superstores, supermarkets, convenience stores, and other warehouse clubs apart from Costco.
What can I do if I don’t spend all the cash back rewards in a year?
If you don’t redeem all of your cash back rewards in a single visit to a U.S. Costco warehouse, you will receive the remaining balance in cash at the checkout stand.
Can I use the cash back rewards to pay for my Costco membership?
Yes, you can use your annual credit card reward certificate to pay for your Costco membership.
Can I get cash back on gas purchases if I exceed the $7,000 cap?
Yes, once you reach the $7,000 cap on gas purchases in a year, the cash back rate drops from 4% to 1%. You can still earn 1% cash back on gas purchases that exceed this amount.
Can I earn cash back on other types of purchases with the Costco Citi Card?
Yes, besides gas purchases, you can also earn 3% cash back on restaurants and eligible travel purchases, 2% cash back on all other purchases from Costco and Costco.com, and 1% cash back on all other purchases.
