BEST Credit Card for Costco - It may not be what you think!

Thoughts? [Click "See More" for Advertiser Disclosure] You can support our channel by choosing your next credit card via one of the links below (in other words, we make money if you get approved):
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- CardMatch™: rebrand.ly/p70ubk
- Cash Back Credit Cards: rebrand.ly/8tz84x
- Travel Rewards Credit Cards: rebrand.ly/27jk4y
- Credit Cards For Good Credit: rebrand.ly/yi47oz
- Credit Cards for Fair Credit: rebrand.ly/956h4w
- Or, use our Amazon.com link: amzn.to/2PpQWoB (As an Amazon Associate, we earn from qualifying purchases.)
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ADVERTISER DISCLOSURE: Unless otherwise noted, this channel receives compensation from our partner sites when you click through and are approved for a credit card through the links you see above. Compensation may impact how and where we place these links. While we try to include information on a wide variety of financial companies and products in our videos, we definitely can't guarantee that we've included every company or every available offer.
NOTE: Credit card information in this video is not guaranteed; we have attempted to confirm all information to the best of our ability but we could simply be wrong or the information could be outdated by the time you watch this video. We are doing our best here, but check our work!
Our site: www.ProudMoney.com
Contact: Adam Jusko [e-mail]
(for business/media inquiries only; unfortunately I do not have the time to offer thoughtful answers to the many individual credit & money questions I get by e-mail --- but I do read them and try to incorporate answers to common questions into future videos.)
#costco #creditcards #visa

[@ProudMoney]

[Click "See More" for Advertiser Disclosure] You can support our channel by choosing your next credit card via one of the links below (in other words, we make money if you get approved): . - CardMatch™: rebrand.ly/p70ubk - Cash Back Credit Cards: rebrand.ly/8tz84x - Travel Rewards Credit Cards: rebrand.ly/27jk4y - Credit Cards For Good Credit: rebrand.ly/yi47oz - Credit Cards for Fair Credit: rebrand.ly/956h4w - Or, use our Amazon.com link: amzn.to/2PpQWoB (As an Amazon Associate, we earn from qualifying purchases.) . ADVERTISER DISCLOSURE: Unless otherwise noted, this channel receives compensation from our partner sites when you click through and are approved for a credit card through the links you see above. Compensation may impact how and where we place these links. While we try to include information on a wide variety of financial companies and products in our videos, we definitely can't guarantee that we've included every company or every available offer. NOTE: Credit card information in this video is not guaranteed; we have attempted to confirm all information to the best of our ability but we could simply be wrong or the information could be outdated by the time you watch this video. We are doing our best here, but check our work! Our site: www.ProudMoney.com Contact: Adam Jusko [e-mail] (for business/media inquiries only; unfortunately I do not have the time to offer thoughtful answers to the many individual credit & money questions I get by e-mail --- but I do read them and try to incorporate answers to common questions into future videos.)

[@Nheeb]

Hey, Adam. Could you do a video on how/if a cd or a cd loan helps build credit? Thanks

[@kevinkim271]

U.S. Bank Altitude Reserve. 3x mobile purchases can be up to 4.5% on return on spend when redeemed for travel. Or just basically 3% cash back. The card has a $400 annual fee but a very generous $325 Travel and Dining credit. So the effective annual fee is $75. Easily recouped with the four Priority Pass Select passes and/or GoGo Inflight WiFi passes. Not a bad deal considering actual cheapest PPS costs $99 annual and $32 per visit.

[@matthewgreen4564]

I wish they had a transfer program

[@banderson1979]

Came here to spread the good word about USB AR don't forget primary CDW for rental cars.

[@clintonwoodward]

Things you didn't mention: The Costco Visa card has no foreign transaction fees. -Costco card adds 2 years extra warranty for all purchases (at Costco or elsewhere) covered by a manufacturer warranty. This warranty stacks with any other extended warranties, so if you buy a TV at Costco with a 1 year warranty and a 2 year extended warranty provided by Costco you get an additional 2 years on top of that from Citibank.- The 4% gas rebate doesn't apply to grocery store branded gas stations even if it is coded as an automated fuel dispenser purchase. (Edited Jan 2023 to reflect the removal of extended warranty benefits for this card.)

[@ProudMoney]

It's two years extended on warranties? Thought it was one. Good points all, thanks.

[@clintonwoodward]

@@ProudMoney -Yes an extra 2 years. One of the best use cases for the card, at Costco or elsewhere when making purchases where you need extra warranty coverage. My main usages for the card are Costco purchases plus any purchase where I want an extra 2 years warranty.- 4% on gas is good but you have to watch for the gotcha on grocery store gas stations. I end up using my Wells Fargo propel if I buy gas at Kroger. Included with Your Card -Warranties run out. Get an extra 24 months added to your warranty when you purchase items at least in part with your Citi card and/or your Costco credit card reward certificate. In the event of a covered failure, the item will be repaired or you will be reimbursed up to the amount charged on your Citi card (including Costco credit card reward certificate) or the cost to replace the item, whichever is less, up to $10,000.- Included with Your Card Go ahead and shop! If an item is purchased with your Citi card and/or your Costco credit card reward certificate and is damaged or stolen within 120 days (90 days for New York residents) of purchase or delivery of the item, whichever is first, the item may be repaired or you may be reimbursed up to the amount charged on your Citi card and/or your Costco credit card reward certificate. You’re covered for up to $1,000 per item, up to $50,000 per year, per Citi card account.

[@BossChronicles]

It's an amazing card

[@mitchell.9632]

Bank of America on some cards has extended warranty as well.

[@azan-183]

@@clintonwoodward honestly I think the Amex Costco card was better, Citi's customer service is just terrible

[@tiffanij1662]

Nice to have more options Ty!

[@nick-graham]

Great video, but your shirt looks like a subliminal ad for the Citi Custom Cash Card 😉

[@Dierz]

We use the Costco Credit Card until we cover the Annual Membership Fee. Only 6 months into our renewed period (February 2021) we have over 107.00 in points/cash. Once we hit the target, likely use the Chase Freedom Unlimited for restuarant and Fidelity for everything else (not gas). Thank you for the videos.

[@brad159us6]

I do the same thing lol… once I hit the membership fee In rewards I just keep the membership for the cheaper gas prices especially in SoCal…. So it works out.

[@candiceabr]

Great video! I’ve been curious about this ever since they dropped Amex 😢

[@frankbradford9616]

Good info on that Vemo visa. It’s removed the cap since you made this video.

[@kis4beauty]

Thank you for doing this video because I'm canceling my Costco due to the VISA only limitation. I found that the Costco visa CC just was not worth adding to my wallet.

[@moneybee]

Very interesting breakdown. The Costco Visa card seems to be what they push, so it's always interesting seeing the alternatives. Great video! 😃

[@azan-183]

and they push it hard LOL, it is a good card tho, but the old Amex Costco had so much better customer service

[@johniii8147]

@@azan-183 But Costco makes much better Money with a Visa card vs Amex. Amex charges much higher fees per transaction. That's why the dropped Amex. It was a mutual decision Amex didn't want to lower fees and Costco didn't want to pay the fees so they moved on at the end of the agreement.

[@azan-183]

@@johniii8147 actually Costco wanted lower fees to they could increase the cash back rate (Amex was 1,2,3 while Citi is 1,2,3,4) and Amex has reduced their fees

[@duchungvo3396]

Thank you very much

[@rffinances8567]

I got the Costco card a couple years ago since it had a lot of good categories all in one card. It's less good now that the CFF and CFU earn 3% on dining, but it's still a good card for gas and Costco itself. I don't spend a ton at Costco, though I'll keep these in mind if that changes.

[@nickalbanese8286]

Venmo card.. hmmm very interesting! This card is going to work best for me. Thank you 🙌🏼

[@Bacnow]

You should seriously check out AAA Daily Advantage Signature Visa! 5% - Grocery 3% - wholesale stores & gas 1% - everything else $100 bonus / $1500 spent (not much, but ok)

[@StockerM]

Would you think about adding the US Bank Shoppers Cash Rewards card to this list now? I know it has a $95 AF, but first year is waived. 6% cash back on any two retailers (based off of preselected list of 20 or so) and 3% at wholesalers (Costco), just seems to make too much sense, for me at least! 1.5% cash back on everything else. But yeah, a $1500 cap on eligible purchases for the 3% and 6% categories.

[@christianhorta1945]

I was really happy to find out that Costco codes as groceries for the Venmo card 🤩 previously i would use my freedom unlimited but now I use my Venmo visa exclusively at Costco, which works out perfect because I get the 3% inside the warehouse & 2% at their gas station, which I’ll take any day 🙏🙏🙏

[@christiangarcia2319]

It's nice also because Walmart codes as grocery as well. I use this card basically for the 2 stores and get 3% back which is better than both of their own issued cards. Go figure lol

[@guillermoparedes6450]

@@christiangarcia2319 I'm pretty sure Walmart c.c is 5% back just like target's 5%

[@christiangarcia2319]

@@guillermoparedes6450 the Walmart CC Is only 5% back online. You get 5% in store for the first year only then 2% thereafter

[@azan-183]

@@christiangarcia2319 yup, the Target card is so much better in that regard, but they need to bring back a open loop card, like their Mastercard

[@thetechtrons3778]

PenFed Power Cash and SDFCU Cash+ better flat 2% back Visa options because they offer no FTF.

[@douglassteele7974]

I have a suggestion for a video, I am a longtime capital one customer and I just got a letter saying they upgraded me to world MasterCard. What does this mean and really do for me?

[@SabreLeonheart]

I didn't know Venmo counted for 3% at Costco!!! Xmas comes in August 😂😊

[@studnts4elac]

The redstone federal credit union basically replaced all these cards as of 2023

[@Bacnow]

My preference and recommendation would be the AAA Daily Advantage Signature Visa! 5% grocery, 3% Costco, 3% gas, 1% everything else (bonus is only $100 though)

[@dave_nunez]

Thank you, I'll have to check it out!

[@357twilson]

Or the AAA Travel Advantage Signature Visa. It’s 5% gas, 3% restaurant, 3% grocery. Just depending if you value gas more than wholesale club groceries. I wish you could combine the 5% Costco gas with the 3% wholesale club groceries.

[@Bacnow]

@@357twilson - Yep! That is an excellent alternative!

[@jonathanarguelles9]

@@357twilson does the gas count as Costco groceries?? Or it doesn’t count for anything?

[@yolanda9730]

i can't seem to sign up for the venmo visa. It keeps saying Sorry, an error occurred. Any help please

[@FDBryantIII]

For what it is worth you mentioned that you have to be a Costco member to redeem the cashback on the Costco Visa card. I am pretty sure this isn't true. I suspect that if you had a cashback reward to redeem after you canceled the membership that you could still go to a Costco, go to the service desk and get the cashback (if for no other reason than because if you didn't they would have to do a stupid little dance where you sign up for the membership, redeem, then cancel the membership for a full refund and I'm pretty sure they wouldn't do that). Granted you still have to redeem it in the store which is still a little annoying.

[@motown46]

I have an Executive Membership with Costco which gives me another 2% on top of the 2% from the Costco card.

[@johniii8147]

Depending on how much you spend the Exec Membership more than pays for itself. You can also have two on the Exec for a household rather than two memberships. It's a no brainer if you shop with any frequency at Costco.

[@TheAudioCzar]

Are offers from credit card companies respond by date relevant?

[@craigmargolies7335]

I have 2 of the Bank of America customized cash rewards cards so I see 3.5% on 5k a quarter at Costco plus I just got the Bank of America unlimited cash for the overflow 2.62%, it looks like my Costco visa and citi double cash will be Collecting dust other then gas on the Costco card!

[@Nos2113]

Wait, are you saying you spend 20k /year at Costco?

[@craigmargolies7335]

@@Nos2113 family of 5 we do the bulk of our grocery shopping their. Between 450-500 a week

[@seanc6699]

@@craigmargolies7335 just looked into this because the numbers weren't adding up at first from the video. Its 3.5% because you're a Platinum Honors Preferred Rewards member correct? Mind me asking what qualifies you for that? Assuming someone with no other business relationship with them (like myself) would only qualify for the 2% (no 0.75% bonus)?

[@craigmargolies7335]

@@seanc6699 I maintain 100k at Bank of America

[@AlyviaGranillo]

Really only use my Costco credit card for gas which pays for my two memberships every year

[@junito2498]

The PenFed Power Cash Visa gives 2% (you must have or open checking a account). Has a $100 sign up bonus and no foreign transaction fee

[@azan-183]

How has your experience been with PenFed? Thinking about becoming a member. I've heard their app is not intuitive

[@BronxBombers_726]

I went to Costco and when I joined I totally forgot they take only Visa I have the Chase Freedom Flex [Mastercard] So I called Chase and ask for a product swap into the Chase Freedom Unlimited [Visa] Chase wanted to do a hard inquiry for this product swap?

[@duyleanh4289]

Sorry you're actually incorrect in the part that the Venmo Visa separate Costco gas versus groceries

[@vedo_velly]

Is this business or personal

[@deankoch7305]

How do i get more cards with 6 inquiries with 665 Experian and 732 all else?

[@reubenmorris487]

Wait for your score to go back up...

[@joeychitwood6004]

NOPE! I will not do business with BoA or Wells Fargo ever!

[@LandynG137]

I’m that way with capitol one. Never done business with Wells Fargo or Bank of America but capitol one is terrible and everyone I know who’s dealt with them has said to stay far away!

[@c50grand2]

Especially Wells Fargo!

[@thetechtrons3778]

Based

[@kermitefrog64]

Stay away from this card like the plague. They started off as a cash back card but not now. They now are giving a store coupon. For years they advertised it as a cash back card. They did a bait and switch.

[@sudhisira]

Their website still says this however: "Redeeming Costco Cash Rewards Cash back will be provided as an annual credit card reward certificate once your February billing statement closes, and is redeemable for cash or merchandise at U.S. Costco Warehouses, including Puerto Rico."

[@popap1995]

First! 🥇

[@spritely2158]

Surprised to see no mention of the chase freedom flex. Since I’d be stocking up I’ll only be doing one Costco trip per year during the wholesale club quarter and get my 5%.

[@balerioandrade1714]

The flex is a MasterCard.

[@scottb_02]

Costco only takes Visa

[@Spencerwalker21]

@@balerioandrade1714 could I make my chase freedom flex my PayPal preferred payment and link that to Google pay to get that 5% PayPal category. If it's a dumb question I'm a noob lol

[@jamemee8795]

I got Costco anywhere Visa and Amex Blue cash back prefer and Citi customer cashback if work very good for me