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How to redeem your Costco credit card rewards

The Costco Anywhere Visa® Card by Citi offers credit card rewards on everyday purchases. Here's what you need to know.
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Written by Mandy Sleight on

The Costco Anywhere Visa® Card by Citi offers credit card rewards on everyday purchases, including shopping at Costco. You can rack up points using the Costco Anywhere Visa® Card tiered rewards program wherever you shop, and the number of points you earn depends on the type of purchases you make. While you can earn points just about anywhere, you have to be a current Costco member to be eligible for the Costco Anywhere Visa® Card.

As long as you earn at least $1 in rewards throughout the year, you get an annual credit card reward certificate. This Costco credit card rewards certificate can be redeemed throughout the United States and Puerto Rico, but there are limitations on redemption you should know about. 

Unlike most other rewards credit cards, the Costco Anywhere Visa® Card can't be redeemed whenever you want. You can only redeem it once per year in February for the prior years earned rewards.

Earning rewards is one thing; redeeming them is another. Here is what you should know about how to earn and redeem Costco credit card rewards.

How to earn Costco Anywhere Visa® Card rewards

While Costco is in the name, you can earn rewards in many other places you spend money. The Costco Anywhere Visa® Card uses a tiered rewards program, so you earn a specific percentage back on every dollar depending on the category your purchase falls into.

Here are the rewards you can earn through the Costco Anywhere Visa® Card tiered rewards program:

  • 4% back on eligible worldwide gas purchases, including at Costco, for the $7000 in purchases in year 1, then 1% back for future purchases

  • 3% back on worldwide restaurant and eligible travel purchases

  • 2% back on all Costco and Costco.com purchases

  • 1% back on all other purchases

How to receive your Costco Anywhere Visa® Card rewards

The way to redeem Costco Anywhere Visa® Card rewards differs from most rewards cards. Reward certificates are issued once per year in February and go to all eligible cardholders who earned at least $1 in rewards in the previous year. (Your credit card account must still be open when your certificate is issued to receive it.)

If you are eligible for a rewards certificate, here are the steps to take to receive it:

  1. Check the last page of your February paper statement if you are not enrolled in paperless. If you are enrolled in paperless statements, you will receive an email on or soon after your February statement closing date.

  2. If you use the Citi Mobile® App, you can also access your rewards certificate there after the closing date of your February statement. After logging in, click on "Access Certificate" to view the certification on your smartphone and save it.

  3. Present your paper or virtual rewards certificate for redemption at any Costco warehouse in the US or Puerto Rico.

It's that easy! Now that you've received your rewards certificate, it's time to redeem them.

How to redeem Costco Anywhere Visa® Card rewards

Redeeming your rewards certificate from the Costco Anywhere Visa® Card is a bit more difficult than receiving it. Once you have the certificate, you can only redeem your rewards at a Costco warehouse in the US or Puerto Rico. Certificates are ineligible for redemption at:

  • Costco.com

  • Costco Travel

  • On the Citi Mobile® App

  • Costco Anywhere Visa® Card account payments

When you are ready to redeem your Costco Anywhere Visa® Card rewards, you can present the printed certificate or show a virtual copy of it at checkout. The certificate barcode should be fully viewable to be scanned at the register.

You can only redeem Costco credit card reward certificates for Costco merchandise or cash. Reward certificates are ineligible for travel purchases or as a statement credit. If you make a purchase that is less than the certificate amount, you get the remaining balance in cash when you check out at Costco. 

Your credit card reward certificate expires on December 31 of the year it was issued, which can make redeeming it less of a hassle if you don't live near a Costco warehouse. If you have to make a trip for redemption, at least you can earn some cashback on your trip purchases by using your Costco Anywhere Visa® Card during your travels.

Can you cash out Costco rewards?

Costco credit card rewards certificates can be redeemed for merchandise in the Costco warehouse, or you can cash it out. If you want cash, Costco reserves the right to pay you by cash, check, or electronic transfer.

How can I estimate my Costco cash rewards from Citi?

There is no limit to how many rewards you can earn with the Costco Anywhere Visa® Card. To estimate your Costco cash rewards, visit citi.com/costcorewards and use the sliding scale to enter how much you spend per category each month. As you update each category, it will automatically calculate the annual cash back at the bottom.

As a Costco Executive Member, am I eligible for both the credit card reward certificate and the Executive Member annual reward?

Yes, if you are a Costco Executive Member, you can earn the annual reward and the credit card reward certificate on your Costco Anywhere Visa® Card. Both rewards are distributed annually, with the 2% Costco Executive Member reward certificate being distributed by mail two months before your annual renewal month.

What is the easiest way for me to find information about the rewards I've earned and the details about my credit card reward certificate?

The easiest way to find information about the rewards you've earned and the details about your credit card reward certificate is to visit Citi® Online or the Citi Mobile® App. After logging in online, click "View Your Reward & Certification Information" to see how much cashback you've earned to date based on your last statement earnings. 

What happens to my credit card reward certificate if I cancel my Costco membership?

If you cancel your Costco membership, you will receive notification that your Costco Anywhere Visa® Card will also be cancelled. Accumulated but not distributed rewards are forfeited, but you can still redeem your credit card rewards certificate if it was already issued. If you want to remain a Costco member, using your Costco Anywhere Visa® Card to pay your annual membership fee will automatically renew your membership each year.

I have multiple Costco Anywhere Visa® Card accounts. Will I receive separate credit card reward certificates?

If you are the primary cardholder of multiple Costco Anywhere Visa® Card accounts, you will receive a separate credit card rewards certificate in February for each account. 

When does the credit card reward certificate expire?

Your credit card reward certificate is issued with or near your February statement date and expires on December 31 of that year. For example, if you have a credit card reward certificate dated February 2021, you have until December 31, 2021, to redeem it in person for merchandise or cash at any Costco warehouse in the US or Puerto Rico.


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