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New Costco Anywhere card offers 2% on Costco purchases, but is that good enough?

by on Thu March 24, 2016 • 4 Comments
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Costco has released the details of the new Costco Anywhere Visa card to existing TrueEarnings American Express cardholders – and they are much better than the old TrueEarnings Amex, according to Reddit users.

The new card, available for use on June 20th, will offer:

  • 4% cash back on eligible gas worldwide, including gas at Costco, for the first $7,000 per year and then 1% thereafter
  • 3% cash back on restaurant and eligible travel purchases worldwide
  • 2% cash back on all other purchases from Costco and Costco.com
  • 1% cash back on all other purchases

That’s a lot better than the existing personal TrueEarnings Amex which offers:

  • 3% cash back on eligible gas worldwide, including gas at Costco, for the first $4,000 per year and then 1% thereafter
  • 2% cash back on restaurant and eligible travel purchases worldwide
  • 1% cash back on all other purchases from Costco and Costco.com
  • 1% cash back on all other purchases

If you’re looking to earn pure cash back on Costco purchases, it’s going to be hard to do better than this card.

But it’s still the same as you’ll earn via the Fidelity Investment Rewards Visa which gives you 2% cash back on everything with no annual fee, including at Costco.

So it’s not like there is a lock on 2% cash back at Costco with the new Costco Anywhere Visa.

And if you’re looking for travel rewards you can get better than a 2% return a lot of ways using other Visa cards.

For example, The Chase Sapphire Preferred Card earns one point per dollar, and you can transfer the Ultimate Rewards points it earns directly into your United MileagePlus or other travel partner accounts, where you can get 2 cents or more per mile in value if you are savvy about redeeming.

Even better, you can get the new Chase Freedom Unlimited as a companion card, for no additional annual fee, and earn 1.5x points on everything you spend.

When you hold a Chase Sapphire Preferred Card you can combine points with the Freedom Unlimited, so can you leverage both 1.5x points per dollar on all your purchases and the ability to transfer points to travel partners, for great reward value without a lot of effort.

 

Chase Sapphire Preferred® Card

Miles dont expireas long as card is open
Learn more

Partner Offer

50,000 bonus points

Intro Offer

$0 introductory annual fee, then $95

Annual Fee

$0

Foreign Transaction Fee Waived

Yes

Points Can Transfer to Airline Miles ?

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4 thoughts on New Costco Anywhere card offers 2% on Costco purchases, but is that good enough?

  1. Matt

    Its 3% cash back on travel bot 2% as stated above. Lets not forget this is pure cash back that u get in ur pocket not some statement credit cash or useless points that you can only use on certain things.

    Reply
    1. MileCards.com

      @Matt – Yes the new card is 3% on travel. The prior Amex version was 2% (we listed both above for comparison).

      Reply

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