Costco membership is certainly worth it because of the unique gems that can only be found there. If you’re arranging a party or preparing a holiday feast, you may as well enjoy the rewards by using a credit card that awards points.
What forms of payment does Costco accept And how can you optimize your rewards? We’ve got the answers.
- What credit cards does Costco accept?
- About Costco
- Best credit cards to use at Costco
- Alternative ways to pay at Costco
- What debit cards are accepted at Costco?
What credit cards does Costco accept?
Only Visa credit cards, cash, debit cards, and Costco Shop Cards are accepted in Costco warehouses and petrol stations (gift cards). Neither Mastercard nor American Express nor Discover are accepted as payment methods here.
For the past 16 years, Costco has only accepted American Express credit cards. However, a few years ago, the company switched to Citi Visa. Prior to the introduction of the Costco Anywhere Visa Card, the company’s branded cards had been issued to customers.
Costco consumers were able to take advantage of greater perks with this card than they had previously been able to with their American Express cards.
Using a non-Visa credit card at Costco is now out of the question because they no longer accept Visa credit cards.
Best credit cards to use at Costco
Chase Sapphire Preferred
- Rewards. Earn 5 times the points on Lyft rides and trips booked through Chase Ultimate Rewards (until March 2022); 3 times the points on qualified restaurants, streaming services and online grocery purchases. There are two times the points for travel and one point for every $1 spent on anything else (including Costco purchases)
- Sign-up Bonus. Spend $4,000 in the first three months and get 60,000 bonus points.
- Annual Fee. $95
When you sign up for the Chase Sapphire Preferred and use your points through Chase Ultimate Rewards, you’ll receive a $750 travel credit. This card is an excellent choice if you like traveling and would like to take advantage of the additional benefits, such as no foreign transaction fees, provided by the significant bonus points on travel and dining.
With a minimum spending requirement of $4,000 in the first three months to obtain the sign-up bonus, you can consider charging all of your Costco purchases (and any other expenses, such as Lyft rides or dining out) to your new card to expedite the process.
It’s possible to earn more points with the Chase Freedom Unlimited and then transfer the points to your Chase Sapphire Preferred Card. This is an option worth considering. Then, instead of getting paid back in cash, you may use the points you’ve accumulated to get travel or other perks.
Capital One Venture X
- Rewards. By booking hotels and vehicle rentals with Capital One Travel, you’ll get ten times the points per dollar spent, flights will get five times the points per dollar spent, and everything else will get two times the points per dollar spent!
- Sign-up Bonus. After making $10,000 in purchases in the first six months, you’ll receive 100,000 additional miles (plus up to $200 in statement credit for holiday rentals like Airbnb and Vrbo).
- Annual Fee. $395
Following you’ve met the requirements for the card, Capital One Venture X gives you a hefty welcome bonus after your first purchase. Capital One’s travel site lets you book flights, hotels, and more with the miles you earn via this incentive. Over a dozen travel partners are available for you to transfer your points to.
Using your Venture X for all qualifying purchases (including at Costco) as soon as you obtain it may help you meet the terms of the welcome promotion. Because there are no bonus categories on this card, you’ll earn 2X on all of your purchases. This is one of the highest interest rates for reward credit cards. To put it another way, this means you may earn a big number of awards at any given moment, without having to focus on any particular category. Many premium travel cards don’t have this level of ease.
Chase Freedom Unlimited
- Chase Ultimate Rewards offers five percent off travel, three percent off eating and pharmacy purchases, and one-and-a-half percent off everything else.
- The following is your welcome bonus upon registration: After spending $500 in the first three months, you’ll receive a $200 bonus and 5% cash back on grocery store purchases (excluding Target or Walmart; up to $12,000 in the first year)
- There is no yearly fee.
The Chase Freedom Unlimited Card, one of the finest rewards credit cards, may help you earn up to 5% cash back on your purchases. In addition, as this card has no annual fee, you may get $200 in cash back after spending $500 in the first three months, as well as 5% cash back at food stores (excluding Target and Walmart). The maximum cash back you can earn in a year is $12,000.
To optimize the value of your Costco membership, use this card to make purchases at the wholesale club and take advantage of the savings.
Costco Anywhere Visa Card
- 4% cash back on qualified gas expenditures (up to $7,000), 3% on restaurant and travel purchases, 2% on all other Costco purchases, and 1% on everything else are the rewards you’ll receive with this membership program.
- Sign-up Bonus: None
- Costco members pay nothing for the year because their membership is already paid in full.
Even while the Costco Anywhere Visa Card doesn’t provide a sign-up bonus, it does offer excellent rewards for a no-fee card, including 3% back on eligible restaurant and travel expenditures and 4% back on eligible gas purchases (up to $7,000 annually).
You’ll also get the best cashback rewards for Costco purchases of any of the credit cards on our list. – To get the most out of your benefits, you may want to consider a card like the Chase Freedom Unlimited, which offers 5% back on all purchases and can be combined with another Chase premium card, such as the Chase Sapphire Preferred.
This card is a great option for Costco purchases if you don’t already have a Chase premium card. Spending with your card will earn you points that you can use for discounts on big-ticket purchases like furniture and appliances. Costco is a great place to buy petrol in order to reap the most benefits.
Alternative ways to pay at Costco
There is no need to worry if you leave your Visa credit card at home or are still waiting for it to come in the mail, because you will still be able to earn points on purchases you would otherwise make. Cash, cheques, debit/ATM, EBT, and Costco Shop Cards are all acceptable payment methods at Costco. To pay with a check, you’ll need a valid photo ID issued by the government.
Paying using cash, checks, or EBT won’t work at Costco gas stations or vehicle washes; you must use your Visa, debit/ATM card, or Costco Shop Card instead.
What debit cards are accepted at Costco?
As long as you know your PIN, you should be able to use your debit card at Costco without a problem, according to the website (PIN). If you wish to use your debit card as a form of credit at a store, the first step is to verify that your card bears the Visa logo.