Costco Citi rewards

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JackLane
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Costco Citi rewards

Postby JackLane » Tue Mar 29, 2016 8:19 am

Hello folks,

Not too sure if I am the first one to post this (if not, mods can delete the thread)

Received more details about Costco Citi visa yesterday. Rewards look good (to me)
- 4% on gas worldwide (including at Costco gas)
- 3% on Restaurants and eligible travel purchase
- 2% on Costco and costco.com purchases
- 1% on everything else.

The card starts to work on 6/20/2016

I was considering 5% gas cashback card but now I think this one will work with me.

Any comments?
Chase Freedom 04/2012. $6500 | Costco AmEx 10/2012 $8100 | AmEx BlueCash 06/2015, $15000 |Discover It 07/2015, $5200 |Amazon Store Prime 01/2016 $2200
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Tubpbs
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Re: Costco Citi rewards

Postby Tubpbs » Tue Mar 29, 2016 8:44 am

JackLane wrote:Hello folks,

Not too sure if I am the first one to post this (if not, mods can delete the thread)

Received more details about Costco Citi visa yesterday. Rewards look good (to me)
- 4% on gas worldwide (including at Costco gas)
- 3% on Restaurants and eligible travel purchase
- 2% on Costco and costco.com purchases
- 1% on everything else.

The card starts to work on 6/20/2016

I was considering 5% gas cashback card but now I think this one will work with me.

Any comments?


Seems like it's slightly better than people were expecting which is a pleasant surprise I suppose.

The gas is definitely good. Is there a cap on that?
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
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CarefulBuilder14
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Re: Costco Citi rewards

Postby CarefulBuilder14 » Tue Mar 29, 2016 11:41 am

No interest here, but a few thoughts:

$7k cap on gas earn rate. I don't know if the card has a FTF or not, but I don't see "no FTF" advertised anywhere. If it has one, that should make the "worldwide" part of the 4% earn rate a lot less appealing to everyone. Since I get most of my gas at Costco, it would be a gas card I'd use frequently - if and once I actually had the card. But...I don't spend a lot on gas, so the total additional amount I'd save over a period of even ten years would be less than a nice signup bonus on a travel card. That's a big hurdle the card doesn't overcome.

Restaurants and travel? I have good AF alternatives, as well as the no-AF Arrival. 3% isn't spectacular.

The card might be good for someone who drives and travels a lot, but with no apparent bonus, there's not much that should excite people who already have several cards.

For any Costco purchases on which I need an extended warranty (like electronics), I will use a premium card. For consumables (food, gas, wine, etc.), I can buy Costco Cash with a Freedom and presumably earn 5 URs/$. I'll try it out first with a small purchase in April.
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kdm31091
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Re: Costco Citi rewards

Postby kdm31091 » Tue Mar 29, 2016 9:00 pm

CarefulBuilder14 wrote:No interest here, but a few thoughts:

$7k cap on gas earn rate. I don't know if the card has a FTF or not, but I don't see "no FTF" advertised anywhere. If it has one, that should make the "worldwide" part of the 4% earn rate a lot less appealing to everyone. Since I get most of my gas at Costco, it would be a gas card I'd use frequently - if and once I actually had the card. But...I don't spend a lot on gas, so the total additional amount I'd save over a period of even ten years would be less than a nice signup bonus on a travel card. That's a big hurdle the card doesn't overcome.

Restaurants and travel? I have good AF alternatives, as well as the no-AF Arrival. 3% isn't spectacular.

The card might be good for someone who drives and travels a lot, but with no apparent bonus, there's not much that should excite people who already have several cards.

For any Costco purchases on which I need an extended warranty (like electronics), I will use a premium card. For consumables (food, gas, wine, etc.), I can buy Costco Cash with a Freedom and presumably earn 5 URs/$. I'll try it out first with a small purchase in April.


Have to pretty much agree with carefulbuilder here. Not on this site, but on other sites, there's a lot of excitement about the Costco card. While it's certainly better than it was, and it remains a "good" card, it's certainly not groundbreaking or super exciting, IMO. 3% on dining/travel are nice and relatively rare to see in the cash back space, but you only get paid out once a year, and 3% is not that spectacular. Better than 2% but that's about it. If it were 5% dining/travel I think it would be more compelling to warrant an app.

As it stands, it seems like a solid card for those who already had the Costco card and thus get no HP for this. On its own, wouldn't use a HP for it. YMMV.

yfan
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Re: Costco Citi rewards

Postby yfan » Thu Mar 31, 2016 3:41 pm

I am actually pretty excited about this card. I already have the TE, so for me it's just an upgraded rewards card that will now be accepted everywhere. Obviously, I would have to take action to keep myself from getting this card, and that wouldn't make any sense.

I am pretty neutral on whether it's worth getting a Costco membership just for this card. That would make it a $55 AF card, and even though the rewards are in line with many AF rewards cards, there can be better choices depending on your spending pattern.

But I do think it's a no brainer for any credit-qualified Costco member, even if they don't currently have a Costco Amex. You cannot get 4% back on Costco gas on any other card (and other than rotating categories, on any card for any other gas station). 3% on travel and restaurants is pretty much unheard of with a no-AF card. And 2% at Costco? For someone who is already a Costco member, there is no contest with a non-AF card.

Not saying that other cards or other combinations of cards can't work out for many people. But this is probably the best non-AF rewards card on the market for people whoa re already Costco members.



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