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Old Jan 12, 16, 1:25 am
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Boraxo
FlyerTalk Evangelist
 
Join Date: Dec 2002
Location: Danville, CA, USA;
Programs: UA Plat & 1MM, DL Plat, Marriott LT Gold, HHonors Gold, Hyatt Explorist & IHG Ambassador
Posts: 12,911
Details on new Citi Costco VISA.

(Hat Tip to Doctor of Credit)

Per public filings at sec.gov the following details have been revealed:

Starting in April 2016, Costco will start a new partnership with Visa and Citi; only Visa credit cards will be allowed at the warehouse and Citi will issue a Costco co-branded credit card under the Visa network.

Personal credit card details
  • No annual fee
  • 3% on the first $4,000 of gas, 1% thereafter
  • 2% on travel and at US restaurants
  • 1% on all other purchases including Costco

Business credit card details
  • No annual fee
  • 4% on the first $7,000 of gas, 1% thereafter
  • 2% on travel and at US restaurants
  • 1% on all other purchases including Costco

My view: Useful if you do not have another reward card that provides a bonus for gas and travel spend (or don't want to pay an annual fee) and for those who value costco credit (same as cash IMO) over funny money points.
A bit disappointing that there is no bonus for Costco spend.

Personally I would rather have Chase UR points so I see no reason to apply for another card.
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