You Can Now Apply For A Costco Citi Credit Card

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Today is the day that Costco is switching from American Express to Citi. That’s a pretty big deal. American Express used to have a huge contract with Costco, but they lost that to Citi.

Initially Costco was supposed to switch to Citi earlier in the year, but American Express ended up selling their Costco portfolio to Citi, meaning those with a Costco American Express would automatically have their card switched to a Costco Citi Visa Card.

Today, June 20, is the official switchover date, meaning that only Visa cards are accepted at Costco stores effectively immediately.

This also means that it’s now possible to apply directly for the Costco Personal Visa or the Costco Business Visa. These cards have a good rewards structure, which is actually better than what American Express used to offer. Specifically, the card offers the following cashback:

  • 4% cash back on eligible gas worldwide including at Costco for the first $7,000 per year (then 1% thereafter)
  • 3% cash back on restaurant and eligible travel purchases worldwide
  • 2% cash back on all other purchases from Costco and costco.com
  • 1% cash back on all other purchases

Citi-Costco-Visa

The Citi Costco Visa Card has no annual fee, though you do need to be a Costco member in order to apply — during the application process it will request your membership number.

Costco-Visa-Citi

If you’re not yet a Costco member and want the card, you’ll want to complete the process of applying for a membership, and then submit your application for the credit card.

Costco-Application

Do keep in mind that while Costco’s new arrangement is with Citi, you can pay with any Visa card at Costco, even if it’s issued by another bank (conversely, you can’t pay at Costco with a Citi Mastercard, for example).

Bottom line

Costco is a huge retailer with a ton of clout, and I know plenty of people who shop there religiously. So the switch from American Express to Citi is a huge deal for many people. If you had a Costco American Express Card, that should automatically be converted into a Costco Citi Card. However, if you don’t yet have the card but are a Costco member, you can now apply for the Costco Personal Visa or the Costco Business Visa, both of which have a pretty compelling earnings structure.

Stay tuned, because soon I’ll have a post sharing what I consider to be the best alternative credit cards for spend at Costco.

How are you feeling about Costco’s transition from American Express to Citi?

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Comments

  1. Sucks for AMEX, that company just keeps losing customers. Hopefully Citi keeps rising enough to challenge Chase as I’m too heavy on Chase.

  2. I don’t see how this is worthwhile for Citi. So many people already have visas from other banks that they won’t go out of their way to get a Costco visa just for 2% cash back at Costco. seems like a bad strategy.

  3. Just applied for mind (I joined Costco after the deal with AmericanExpress had ended so I never had that card). It comes with 7 months of no interest. Not bad, but my two other cards (Citi Mastercard and Visa Travel) came with 14 and 12 months respectively.

  4. Also, if you’re an executive member you already get 2% back for Costco purchases. So with the card, it really works out to 4% back on Costco purchases.

  5. I have 4 Amex personal ccs, (inc. the Costco). I also have the Amex Plat which I will cancel in Sept. Just in case I haven’t transferred MR points yet, I would need another Amex card with MR like the Everyday. My Costco card is my oldest account (15yrs). Should I just cancel it and apply for the Everyday? Or switch to Everyday by calling in (and not get bonus points, but keep the years established credit intact with Amex)? Just wondering bec. I’ve read that you can only have 4 total regular ccs with Amex.

  6. is this still the same “cashback” that can only be used at Costco? With the Costco Amex, you go an annual voucher that could only be used at costco, rather than getting real cashback

  7. I am a Costxo addicted. I really love shopping there and since I have a store less than a mile from my house I visit the place very often including all gas purchases. I never had thei Amex card (used my Amex SPG) but now I am still not sure what is the best card to use there. I won’t apply for the Chase Freedom just to get a good benefit for 1/2 year. I am a heavy spender there so looking forward for your recommendation on the best card to use there.

  8. Now that the new Costco Visa gives a 3% cash back on travel expenses some of my other cards (are you listening Barclays?) no longer make a lot of sense for domestic travel. However, the 3% foreign transaction fee on the Costco Visa makes i prohibitive for overseas travel, IMHO. As usual, one must be aware of those little details.

  9. FWIW, Chase’s legacy Freedom (5%) card is giving 5% back at Costco from April 2016-September 30, 2016…

    and wow… that was fast! The card’s only been active for a few hours and the bloggers already have referral link$ available. Citi’s marketing is on the ball.

  10. @Santastico

    Take your Costco rebate check to customer service. They will give you good old cash you can spend anywhere.

  11. Which credit bureau do I need to call to unlock for my Costco Citi application? Anyone know which of the three they use?

  12. Can anyone here tell me which credit agency CITI will use to check personal credit? Exp, Equi or Trans? Thanks!

  13. With this whole Costco launch people are just acting childish!! Use common sense, if you leave everything for last minute and don’t follow instructions you will not be happy with the results. You cannot expect to call in and be the only person waiting to talk to a CSR when they transition millions of accounts! Dummies! They have other ways of communication I activated my Costco Visa card way before the launch of June 20th. Obviously the balance was transferred but you have to take under consideration that the payments will transfer within a few business days. PEOPLE FET YOUR LIVES TOGETHER! THIS IS NOT THE END OF THE WORLD, IS JUST A CREDIT CARD! Geez!

  14. A very upset Costco Canada member. I have been a Costco Canada member since 1986, and have been loyal to them. I own property both in Canada and the US. , but do not have a US SIN number, and my Citi Visa application has been denied. I have always been able to use my American Express card in the US and Canada, but since Costco Canada changed over to Capitol One Mastercard, American Express is not usable.

    By not being able to get the new Costco Visa card, I am being denied all the perks that it gives Costco members. I spend 6 months a year in AZ, and do a lot of shopping at Costco. That will now stop, and I am sure Costco-US will lose a lot of the Snowbird business this coming winter. Very poor decision, and I do not think this was a well thought out move.

  15. I have been a Costco member for the last year and I want to know what type of credit score do you need to have in order to apply for the city visa with Costco really appreciate it thank you

  16. I am Canadian and my application was denied when i tried applying for a citi card. My American Express card used to work but they do not accept it now. Does anyone have a solution for this or can tell me how to get a citi card.

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