Costco Anywhere Visa Business Card by Citi: The Best Gas Rewards for Small Businesses

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The Costco Anywhere Visa® Business card from Citi* is not like other business credit cards, which tend to focus on high-paying purchases of 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, which are the same categories of rewards that individual cardholders receive. If a business trip is associated with high gas prices hurts your bottom line, this card offers one of the best rewards rates on gas.

There are no annual fee for this credit card, as is often the case with business credit cards, nor any foreign transaction fees. But you’ll need to have a Costco Business membership — an annual cost of $60 — to open and maintain the credit card. This membership allows you to shop at any Costco store for business, personal or resale use.

You will not find other common offers such as a welcome bonus Where Introductory APR, typical of other business cards. So if that particular rewards program doesn’t suit your spending habits, you might be better off using another business card.

Read on to learn more about the rewards program and its limitations. You will want to consider the rewards redemption process before signing up for this card. We also recommend alternative cards if this does not meet your needs.

In this article

Costco Anywhere Visa® Business Card by Citi

Introductory offerN / A

APR16.74% (Variable)

Intro Purchase APRN / A

Recommended credit Excellent credit

Reward rate
  • 4% cash back on qualifying gas for the first $7,000 per year, then 1% thereafter
  • 3% cash back on eligible restaurants and travel purchases
  • 2% cash back on all other purchases at Costco and Costco.com
  • 1% cash back on all other purchases

Annual fees$0

Late payment fees $39

Foreign transaction fees 0%

APR Penalty Up to 29.99% (varies)

  • 4% cash back on qualifying gas for the first $7,000 per year, then 1% thereafter
  • 3% cash back on eligible restaurants and travel purchases
  • 2% cash back on all other purchases at 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 spend category. You get 4% cash back on eligible gas up to $7,000 in spend per year (1% thereafter). That same return rate earned the consumer version of the card a spot in our roundup of best gas credit cards. The amount the average U.S. household spends on gasoline in a year is within the spending limit, but if your business requires a lot of vehicle travel, your annual gasoline costs may exceed the spending threshold of the map.

Other rewards rates don’t cut you past a certain spend threshold. You will earn 3% 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 company, this can be an enticing combination.

Redemption of rewards

While reward rates are attractive, your rewards are less accessible than with other cards. You only have access to your accumulated 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 Costco warehouse in the United States (including 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 awards to be issued each year, it 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’re looking for a better solution for your Companythese cards are good alternatives.

Ink Business Cash® credit card

The Ink Business Cash® credit card from Chase offers some of the best features of any business credit card, from welcome bonus to rewards to introductory APR.

You’ll earn 5% cash back on the first $25,000 spent on combined purchases at office supply stores and internet, cable, and phone services each account anniversary year, which almost every business can benefit. You’ll also earn 2% cash back on the first $25,000 spent on combined gas station and restaurant purchases each account anniversary year, and 1% on all other purchases.

The welcome bonus offers $750 cash back after spending $7,500 in purchases in the first three months, and you can enjoy 12 months of 0% introductory APR on purchases ($13.99 % to 19.99% variable APR thereafter). These are many valuable benefits, all without annual fees.

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 company’s spending habits.

You’ll earn 2% cash back on all your purchases, with no restrictions. There’s no preset spending limit, so if your business makes large purchases often, this might be a good choice. If you need to book a business trip, you can also earn 5% on hotels and car rentals booked through Capital One Travel. You’ll also earn up to $1,000 in welcome bonuses – $500 when you spend $5,000 in the first three months and an additional $500 if you spend $50,000 in the first six months.

It is important to note that there is no APR associated with this card. You are expected to pay your balance in full each month and a monthly late fee of 2.99% will be charged on your remaining balance if you miss your payment.

FAQs

What is a business credit card?

Business credit cards are specifically for small business owners. They can help you separate your business finances from your personal transactions, distribute and manage employee cards, and earn rewards in typical small business expense categories.

Like consumer credit cards, business credit cards most often come in the form of cash back or travel rewards. Cash back cards offer rewards in the form of cash or statement credit. A statement credit is essentially a reduction in 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 through the issuer’s travel portal for a small bonus or gift cards, or you can transfer them to an affiliated travel partner, such as a hotel group or airline. And, like a personal credit card, business cards need to be carefully managed to ensure a small business owner doesn’t hurt their credit rating.

What are corporate credit cards?

Business credit cards, also called commercial credit cards, are designed for large businesses, typically those with 100 or more employees or at least $10 million in revenue.

Should I get a business credit card?

If you spend in concentrated “business” categories – such as office supplies or telecommunications services – or want employees to spend on a central credit account, then yes. You may also appreciate these cards’ business-specific tools, such as 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 easier to review your expenses. But you can just as easily separate your expenses and track them with a dedicated personal credit card. As such, the typical justification for getting a business credit card is to help manage employee cards or to earn more rewards on business purchases.

CNET examines credit cards comprehensively comparing them through defined criteria developed for each major category, including cash back, welcome bonus, travel rewards and balance transfer. We consider the typical buying 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 Citi Costco Anywhere Visa® Business Card, Citi Costco Anywhere Visa® Card and Capital One Spark Cash Plus has been independently collected by CNET and has not been reviewed by the issuer.

Editorial content on this page is based solely on objective, independent assessments by our editors and is not influenced by advertising or partnerships. It was not supplied or commissioned by a third party. However, we may receive compensation when you click on links to products or services offered by our partners.

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