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Costco Anywhere Visa Business Card by Citi: Top Gas Rewards for Small Businesses
Citi is an advertising partner.
The Costco Anywhere Visa® Business Card by Citi* isn't like other business credit cards, which tend to focus on rewarding purchases in telecommunications, travel and office expenses. The card has more in common with its consumer version -- the Costco Anywhere Visa® Card by Citi*. Its rewards structure is centered around gas, restaurants, travel and Costco purchases, that is, the same reward categories individual cardholders receive. If business travel paired with high gas prices is hurting your bottom line, this card earns one of the best rewards rates on gas.
There's no annual fee for this credit card, as is common with business credit cards, nor any foreign transaction fees. But you'll have to have a Costco Business membership -- a $60 annual cost -- to open and maintain the credit card. This membership allows you to shop at any Costco location for business, personal or resale use.
You won't find other common offerings such as a welcome bonus or introductory APR, which are typical with other business cards. So if this particular rewards program doesn't suit your spending patterns, you might be better off with a different business card.
Read on to learn more about the rewards program and its limitations. You'll want to consider the rewards redemption process before signing up for this card. We also recommend some alternative cards if this doesn't suit your needs.
In this article
Costco Anywhere Visa® Business Card by Citi
Intro Offer N/A
APR17.49% (Variable)
Intro Purchase APRN/A
Recommended Credit Excellent Credit
- 4% cash back on eligible gas for the first $7,000 per year and then 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
Annual Fee$0
Late Payment Fee $41
Foreign Transaction Fees 0%
Penalty APR Up to 29.99% (Variable)
- 4% cash back on eligible gas for the first $7,000 per year and then 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
Rewards program
The flagship rewards rate with the Costco Anywhere Visa Business card is in the gas spending category. You get 4% cash back on eligible gas for up to $7,000 in spending per year (then 1%). This same return rate has earned the card's consumer version a spot on our roundup of the best gas credit cards. The amount that an average American household spends on gas in a year falls within the spending limit, but if your business requires a lot of vehicle travel, your annual gas costs may exceed the card's spending threshold.
The rest of the rewards rates don't cut you off beyond a certain spending threshold. You'll earn 3% back on restaurants and eligible travel purchases worldwide, 2% back on Costco and Costco.com purchases and 1% back on all other purchases. For the right business, this can be an enticing combination.
Rewards redemption
While the rewards rates are attractive, your rewards are less accessible than with other cards. You only gain access to your cumulative rewards once a year in February when your billing statement closes. Costco will issue you an annual credit card reward certificate that you can redeem for merchandise at any U.S. Costco warehouse (including in Puerto Rico) by December 31 of the year issued.
If you don't have a Costco nearby, you should think twice about getting this card -- the high rewards rates won't help you much if you can't redeem them. Also, if you don't have the patience to wait for the rewards to be issued annually, this may not be a good option for your business.
Comparable cards
The consumer version of the Costco credit card is the most similar, but if you are looking for a better fit for your business, these cards are worthy alternatives.
Ink Business Cash® Credit Card
The Ink Business Cash® Credit Card by Chase offers some of the best features of all business credit cards, from the welcome bonus to the rewards to the introductory APR.
You'll earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year -- something nearly all businesses are able to benefit from. You'll also get 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year, and 1% on all other purchases.
The welcome bonus offers $750 bonus cash back after you spend $7,500 in purchases in the first three months, and you can take advantage of 12 months of 0% introductory APR on purchases (15.49% to 21.49% variable APR thereafter). These are a lot of valuable benefits all for no annual fee.
Capital One Spark Cash Plus
The Capital One Spark Cash Plus* offers a simpler rewards program that can potentially beat the rewards value of the Costco business card, depending on your business's spending patterns.
You'll earn 2% cash back on all of your purchases, with no restrictions. There is no preset spending limit, so if your business makes large purchases often, this may be a good fit. If you have to book business travel, you can also earn 5% on hotels and car rentals booked through Capital One Travel. You'll also earn up to a $1,000 welcome bonus -- $500 when you spend $5,000 in the first three months and another $500 if you spend $50,000 in the first six months.
It's important to note that there is no APR associated with this card. You're expected to pay your balance in full each month and will be charged a 2.99% monthly late fee on your remaining balance if you miss your payment.
FAQs
What is a business credit card?
Business credit cards are specifically geared toward small business owners. They can help you keep your business finances separate from your personal transactions, distribute and manage employee cards and earn rewards in typical small-business spending categories.
Like consumer credit cards, business credit cards most commonly come in the form of either cash-back rewards or travel rewards. Cash-back cards offer rewards in the form of cash or statement credit. A statement credit is basically a reduction of the amount you owe the issuer. A travel rewards credit card offers rewards in the form of miles or points. You can redeem miles or points either through the issuer's travel portal for a small bonus or gift cards or you can transfer them to a partner travel affiliate, like a hotel group or airline. And, like a personal credit card, business cards must be managed carefully to ensure that a small business owner doesn't hurt their business credit score.
What are corporate credit cards?
Corporate credit cards, also known as commercial credit cards, are designed for larger businesses -- typically those with 100 or more employees or revenue of at least $10 million.
Should I get a business credit card?
If you spend in concentrated "business" categories -- such as office supplies or telecom services -- or want to have employee spending on a central credit account, then, yes. You may also appreciate these cards' business-specific tools like budget trackers and account managers.
If you're a small business owner, it's a good idea to keep your business expenses separate from your personal finances -- both for tax purposes and to make it simpler to review your spending. But you could just as easily keep your expenses separate, and track them, with a dedicated consumer credit card. As such, the typical rationale for getting a business credit card is to help manage employee cards or earn more rewards from business purchases.
CNET reviews credit cards by exhaustively comparing them across set criteria developed for each major category, including cash-back, welcome bonus, travel rewards and balance transfer. We take into consideration the typical spending behavior of a range of consumer profiles -- with the understanding that everyone's financial situation is different -- and the designated function of a card.
*All information about the Costco Anywhere Visa® Business Card by Citi, Costco Anywhere Visa® Card by Citi, and Capital One Spark Cash Plus has been collected independently by CNET and has not been reviewed by the issuer.
The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.
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