Costco credit card review

Interested in a comprehensive Cost credit card review? Responsible Economy presents an in-depth exploration of its key attributes, including cashback rewards, interest rates, bonuses, and all the essential details you’re looking for. Additionally, we offer a side-by-side comparison of the finest credit card options available for application within the United States. Feel free to explore and make an informed choice. Welcome aboard!

Explicative video

We’ve produced a detailed video that thoroughly covers the features of the Costco credit card. If you find the content valuable, we invite you to subscribe to our channel and show your support. Your subscription means a lot to us!

Features

In this section we show you one by one all the characteristics of the Cost credit card:

Cashback

One of the main advantages of this Costco credit card is the discounts on each purchase. We show you a list with the type of discount according to the purchase:

  • 4%: discounts on eligible gas and EV charging are 4% up to $7,000 spend per year and 1% thereafter.
  • 3%: on restaurants and eligible travel
  • 2%: on all other purchases from Costco and Costco.com
  • 1%: on all other purchases
Cashback in Costco
Cashback in Costco

As you can see, if you make regular purchases at Costco, this card can be very useful for saving money on each purchase.

Fees

Costco credit card does not have annual maintenance fees but you must be a Costo membership. Being a Costco membership has annual fees.

Interest rate

If you pay the purchases at the end of the month you will not have to pay any interest. In the event that you pay for purchases in installments, the interest rate is in a range between 19.74% and 29.74%.

Summary table

We have created a summary table with all features:

AspectDetails
CashbackDiscounts based on purchase types:
– 4% on eligible gas and EV charging (up to $7,000 spend per year, then 1% thereafter)
– 3% on restaurants and eligible travel
– 2% on purchases from Costco and Costco.com
– 1% on all other purchases
FeesNo annual maintenance fees for the Costco credit card, but Costco membership requires annual fees.
Interest RateNo interest if purchases are paid at the end of the month. Deferred payments carry interest based on terms.
Costco credit card summary table

Comparison with the best credit cards

We’ve created a comprehensive comparison between the Costco credit card and the top credit cards available for enrollment in 2023:

Chase freedom unlimited
  • Fees: $0
  • Cashback: 1,5%-6,5%
  • Bonus: up to $300
  • Credit Score: 690-850
Wells Fargo Active Cash Card
  • Fees: $0
  • Cashback: 2%
  • Welcome bonus: $200
  • Credit Score: 690-850
Chase Sapphire Preferred Card
  • Fees: $95
  • Cashback: 1x-5x
  • Welcome bonus: 60.000 points
  • Credit Score: 690-850
Capital One SavorOne Cash Rewards Credit Card
  • Fees: $0
  • Cashback: 1%-10%
  • Welcome bonus:$200
  • Credit Score: 690-850
Capital One Venture Rewards Credit Card
  • Fees: $95
  • Cashback: 2x-5x
  • Welcome bonus:75.000 miles
  • Credit Score: 690-850
Discover it Cash Back
  • Fees: $0
  • Cashback: 1%-5%
  • Welcome bonus: up to $300
  • Credit Score: 690-850
Citi Simplicity Card
  • Fees: $0
  • Cashback: 1%-5%
  • Welcome bonus: $200
  • Credit Score: 690-850
BankAmericard credit card
  • Fees: $0
  • Cashback: up to 3%
  • Welcome bonus: $200
  • Credit Score: 690-850
Costco credit card image
  • Fees: $0
  • Cashback: up to 4%
  • Welcome bonus: $0
  • Credit Score: 690-850
Burlington credit card image
  • Fees: $0
  • Cashback: up to 5%
  • Welcome bonus: $0
  • Credit Score: 690-850
Sofi credit card
  • Fees: $0
  • Cashback: up to 3%
  • Welcome bonus: $0
  • Credit Score: 690-850

Video with the best credit cards

Presenting a full-fledged video showcasing the premier credit cards in the United States:

Pros and cons

Having thoroughly examined the features of the Costco credit card and conducted a comprehensive comparison with the finest credit cards, we’ve compiled a table outlining the pros and cons for your convenience:

ProsCons
No feesLow cashback in other establishments
Cashback up to 4%
Pros and cons Costco credit cards

In the advantages we have highlighted that it does not have commissions and you can get up to 4% Cashback and in the disadvantages that the discounts in other establishments that are not Costco are low.

Requirements

The requirements to apply for the Costco credit card are the following:

  • Must be over 18 years old
  • Live in the United States
  • Be a membership of Costco

Frequent questions

Here we answer all the questions you may have:

Conclusions and opinions

Following our comprehensive analysis, we’ve reached a compelling conclusion: the Costco credit card stands as an excellent choice for individuals who frequently shop at this establishment. With its fee-free structure and remarkable discounts of up to 4%, this credit card offers significant advantages to Costco patrons. By leveraging these benefits, cardholders can enjoy substantial savings and a seamless shopping experience.

More information about Costco

We have made a table with information of interest about Costco:

InformationDescription
Websitehttps://www.costco.com/
Facebookhttps://www.facebook.com/Costco
Instagramhttps://www.instagram.com/Costco/
Phone1-800-970-3019
More information about Costco

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Updated the day 1 September, 2023 by Alfredo Barandiarán

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