New Costco Anywhere Visa Card by Citi Offers Cash Back Rewards on Every Purchase

June 20, 2016 8:30 AM EDT

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Consumer and Business Cards Available for Use Beginning Today; New Cardmembers Can Apply in Costco Warehouses or at citicards.com

ISSAQUAH, Wash. & NEW YORK & SAN FRANCISCO--(BUSINESS WIRE)-- Starting today, the Costco Anywhere Visa® Card by Citi and Costco Anywhere Visa® Business Card by Citi are available exclusively to Costco members. With generous cash back opportunities and benefits, the new cards enable cardmembers to earn cash back rewards on all purchases. Today also marks the first day that Costco begins accepting only Visa branded credit cards in its warehouse and gas locations across the U.S. and in Puerto Rico.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20160620005332/en/

With either the new consumer or business card, cardmembers will earn:

  • 4% cash back rewards on eligible gas worldwide for the first $7,000 and then 1% thereafter
  • 3% cash back rewards on restaurant and eligible travel purchases worldwide
  • 2% cash back rewards on all other purchases from Costco and Costco.com
  • 1% cash back rewards on all other purchases, with no limit on earnings potential

“We have a strong relationship with our members and it’s important that we’re rewarding their loyalty to us,” said Craig Jelinek, CEO and President, Costco. “Our new co-brand credit card agreement with Citi on the Visa network enables us to offer significant value and benefits for our members across 494 locations in the U.S. and Puerto Rico.”

In addition to offering cash back and doubling as a Costco membership card, the cards also provide a broad range of built-in, comprehensive benefits including:

  • Damage & Theft Protection
  • Extended Warranty
  • Worldwide Car Rental Insurance
  • Worldwide Travel Accident Insurance
  • Trip Cancellation and Interruption Protection

“Costco revolutionized the way that Americans shop and with this new card, we hope to revolutionize the way they pay,” said Jud Linville, Chief Executive Officer, Global Cards and Consumer Services, Citi. “With chip technology, worldwide acceptance, and the opportunity for rich cash back rewards, this card is one of a kind.”

“Today is an exciting milestone for Visa and our cardholders who can now pay with any Visa credit or debit card when shopping at Costco,” said Ryan McInerney, President, Visa Inc. “Visa acceptance and the introduction of the Costco Anywhere Visa Card by Citi is just the start of us bringing new experiences and benefits to current and future Costco members.”

Existing Costco credit cardmembers should have already received the new Costco Anywhere Visa Card by Citi and the card is now available for use. Cash back rewards that were not previously distributed will be transferred automatically to the new card.

Costco members who would like to apply for the new Costco Anywhere Card can do so beginning today in Costco warehouses or at citicards.com.

About Costco

Costco (NASDAQ: COST) currently operates 706 warehouses, including 494 in the United States and Puerto Rico, 90 in Canada, 36 in Mexico, 27 in the United Kingdom, 25 in Japan, 12 in Korea, 12 in Taiwan, eight in Australia and two in Spain. Costco also operates electronic commerce web sites in the U.S., Canada, the United Kingdom and Mexico.

About Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

About Visa

Visa Inc. (NYSE: V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks — VisaNet — that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead of time with prepaid or pay later with credit products. For more information, visit usa.visa.com/about-visa, visacorporate.tumblr.com and @VisaNews.

Media:
Costco
Bev Akada, 425-313-8507
bakada@costco.com
or
Citi
Jennifer Bombardier, 718-248-4652
jennifer.bombardier@citi.com
or
Visa
Aida Hadzibegovic, 415-805-4242
ahadzibe@visa.com

Source: Citi



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