We will be receiving our annual rewards check in February.
They will email me the check in February. Do I have to cash it at my Costco? Can I deposit it into my checking account? I’d rather not get cash and then have to figure out how to get that money into my account. I was confused when I read how to redeem.
Also while we like Costco it’s not local to us and we didn’t spend enough to justify the executive membership. So I don’t know if it’s worth it to have a Costco membership.
Since it’s the beginning of the year and we have quite a bit of travel planned this year. I’m wondering if another card would give us better perks and rewards than the Costco visa?
I think they are hoping you will take it to their store and just spend more on that day while there!
I always take mine to the store and cash it at the register and NOT apply it to my bill. I want to walk out with that cash (which I do deposit at the bank or keep at home for loose cash).
That’s the February one. The one I get in the summer for the executive membership is ONLY for use in the store.
It’s a dumb game I play but I have always taken that February Costco check and used it towards some fun travel. The credit card games overwhelm me and we don’t travel a ton to make the flight points etc work for us.
I believe they now have it so that you can arrange for it to be deposited into your bank account.
From Reddit:
On your phone, open your Citi Mobile app.
At the bottom, select Services
From this menu select: Rewards & Benefits
Next select your Costco Anywhere Visa@ Card by Citi
You will have an option to transfer to any bank. If you have a bank already associated with your card, for payment of your bills for instance, it should appear there. I am not sure how to enter a new bank bc mine was entered already, but they said it’s not hard. It does not have to be a Citibank account.
My Costco Visa is my primary card used, so my February check is a nice size! I have always gotten the cash and taken it straight to the bank, or used some in our hidden cash drawer.
Back in the day my husband would get cash for his wallet every 2 weeks or so, and would put $50-$100 in a drawer; since Covid, not much was added as we hardly used cash. This was kind of our mad money, or if someone needed cash and didn’t have it.
Not sure what I will do with it this year as it will be the first year since my husband is gone. I am thinking I will just put it into savings and tuck it away for a rainy day.
I think there is another thread about credit card rewards. Depending on what you are looking for, I believe Chase and AMEX usually offer the best travel rewards.
Our Costco Visa is our go-to credit card so the cash back is quite large. I hadn’t heard about loading it via the mobile app, but I always take it in to the customer service desk and they will write out a regular check that you can pick up on the way out. Been doing it for years.
havent had a costco visa; although we are costco members. Dont even know what the percentage back is on the visa. . . do you know?
but i LOVE my chase preferred Visa with travel awards. points are worth 25% off travel. While we mainly fly southwest because of the easy-change rules; this card comes in handy on some routes that are nonstop on united or delta. (chase travel visa doesnt have southwest as an option). And truly, when you use points, the cost is 25% of what is shown online on the carriers site right then. I love the feeling of getting a deal! There is an annual cost, but it pays for itself usually.
We directly deposit our rebate into our bank account linked to the card to pay the bills. I don’t use apps; I do it online. Last year, if rebate was over $300, that option was available. In the past, we simply went to Costco and asked a cashier to issue us a check. Or bought a small item like a rotisserie chicken and got cash back.
We use our Costco Visa as our primary card. We put both our insurance premiums on it which adds up as we don’t have employer coverage. In the past I’ve gone to the service desk and got cash. I’d deposit in my safe and we would use for travel. Sometimes they would write me a check if they didn’t have enough cash. You can now deposit it which makes it convenient but it also makes me just put it in my checking and I don’t feel like I’m using it for fun.
I like to take the executive check and buy something I wouldn’t otherwise buy. That’s how I bought my Nespresso machine. Sometimes that’s hard and I just use it for the regular bill.
“Dont even know what the percentage back is on the visa. . . do you know?”
4% back on gas – bought anywhere, not just Costco gas
3% on restaurants (even take-out) and “eligible” travel
2% at Costco
1% for everything else
I use my Costco Visa for three things: (1) Gas, (2) Restaurants, and (3) purchases at Costco. Otherwise I use a Capital One Visa on which I get 2% for everything.
We have a Wells Fargo Visa with 2% cash back on everything. I did the math and for us, that extra 1% back on the “everything else” category more than makes up for the higher rebates on gas and restaurants we would get if we were using the Costco card alone. We would come out ahead if we used our Costco Visa exclusively for gas purchases, but not by enough to offset the hassle of dealing with two cards.
Citi has a no fee card that offers 5% back on gas. If I was going to use a 2nd card for gas I think it would be that one.
I thought this thread was going to be about the credit card’s awful customer service. Good thing the rewards are so great. I miss the American Express people.
We run a business and use the Costco a lot. Love getting money back. Usually cash it at the register and use it for bills and such. BTW - samples at Costco have been really good lately. If I go to enough of them I call that my Costco lunch…
FYI we booked a Baltic Sea cruise through Costco Travel, and received a $1500 Costco gift card. The trip booked directly with Celebrity was the exact same price quoted by Costco, but without a $1500 gift card.
