Experience with Costco Citi Visa?

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
Post Reply
Topic Author
InMyDreams
Posts: 866
Joined: Tue Feb 28, 2017 11:35 am

Experience with Costco Citi Visa?

Post by InMyDreams »

Anyone using Costco's Citi Visa?
* Traveled outside the US with it?
** How were the foreign exchange rates for any out of country transactions (especially Canada)?
** No transaction fees for the foreign currency transaction, right?

Anything else I should know? The table of information said no annual fee, no interest on purchases if balance paid in full.
I didn't see anything about an inactivity fee.
Thanks!
darrvao777
Posts: 285
Joined: Wed Sep 10, 2014 1:34 pm

Re: Experience with Costco Citi Visa?

Post by darrvao777 »

InMyDreams wrote: Fri Jul 26, 2019 6:42 pm Anyone using Costco's Citi Visa?
* Traveled outside the US with it?
** How were the foreign exchange rates for any out of country transactions (especially Canada)?
** No transaction fees for the foreign currency transaction, right?

Anything else I should know? The table of information said no annual fee, no interest on purchases if balance paid in full.
I didn't see anything about an inactivity fee.
Thanks!
I use it, I like it, I pretty much just use it at Costco for warehouse purchases and gas at the warehouse

I did travel outside the US with it and had no problems on my trip. No foreign transaction fees. No annual fee (aside from the hidden/obvious cost of being a Costco member)
MJS
Posts: 582
Joined: Sat Aug 05, 2017 10:55 pm

Re: Experience with Costco Citi Visa?

Post by MJS »

Ditto darrvao777. I wasn't able to get the chip-and-PIN to work in Iceland at some gas stations.
User avatar
GerryL
Posts: 2868
Joined: Fri Sep 20, 2013 11:40 pm

Re: Experience with Costco Citi Visa?

Post by GerryL »

I've been using my Costco Citi Visa for international trips. No problems in France or UK, where I used it for everything. In France I even use it at kiosks to get transit tickets, despite having no PIN.
Don't recall any issues with it in Canada last year. (It was my Ally debit card that I could not get to work at several airports in Canada.)

Exchange rates on recent trip to UK looked good when I got my statement.
btenny
Posts: 5419
Joined: Sun Oct 07, 2007 6:47 pm

Re: Experience with Costco Citi Visa?

Post by btenny »

Works fine now. Use it only at Costco. Never other places. Had terrible trouble when moving from AMEX to CITI. They lost two amex charges for months and tried to claim extra late fee $$ when they found these old charges that were not billed and then billed me for their error. It took me two months to get this cleaned up.

Good luck
Erwin007
Posts: 411
Joined: Tue Aug 19, 2008 8:29 am
Location: Intermountain West

Re: Experience with Costco Citi Visa?

Post by Erwin007 »

No issues. Have used it in Canada, Mexico, Jamaica, and France without a problem. Exchange rate for Canada, Mexico, and France seemed fine.
User avatar
Watty
Posts: 20687
Joined: Wed Oct 10, 2007 3:55 pm

Re: Experience with Costco Citi Visa?

Post by Watty »

MJS wrote: Fri Jul 26, 2019 9:40 pm Ditto darrvao777. I wasn't able to get the chip-and-PIN to work in Iceland at some gas stations.
The Costco credit card, like 99.9999% of all US credit cards, is a chip and signature card not a chip and pin. In addition to gas stations some unmanned parking lots and train station kiosks may also have problems with a chip and signature card but that is nothing that is unique to the Costco card.

At manned locations chip and signature cards have always worked just fine for me in Europe.

If you have a pin for a US credit card that is for getting cash advances out of an ATM which usually comes with hefty fees but can be handy as a last resort in an emergency.
anonenigma
Posts: 807
Joined: Thu Apr 21, 2011 11:58 pm

Re: Experience with Costco Citi Visa?

Post by anonenigma »

One nice plus is that collision damage waiver is covered on overseas car rentals.

The only problem I had with the card was tapping it to use on the subway in London. Activated Apple Pay instead, and that worked using the same card.

Be aware that two benefits will be cut in September: Price Rewind (price match) and trip interruption/cancellation insurance. Citi may have given Costco too good a deal and is having to cut back.
Gryphon
Posts: 166
Joined: Sat May 07, 2016 11:43 am
Location: Missouri

Re: Experience with Costco Citi Visa?

Post by Gryphon »

anonenigma wrote: Sat Jul 27, 2019 1:22 am Be aware that two benefits will be cut in September: Price Rewind (price match) and trip interruption/cancellation insurance. Citi may have given Costco too good a deal and is having to cut back.
It isn't just the Citi Costco card that is losing those benefits; my Citi Double Cash card is losing them too. If anything, the Costco deal is protecting those card holders from some of the cutbacks. The list of benefits being dropped from the Double Cash card is significantly longer than the ones being dropped from the Costco card:

Costco Visa is losing: Trip Cancellation & Interruption Protection, Citi® Price Rewind

Double Cash is losing: Trip Cancellation & Interruption Protection, Citi® Price Rewind, Worldwide Car Rental Insurance, Worldwide Travel Accident Insurance, 90 Day Return Protection, Damage & Theft Purchase Protection, and Extended Warranty


Getting back to the original question, I used the Costco Visa in Canada for several weeks this summer, mostly to purchase gas, but also a few other purchases. No problems, no complaints.
User avatar
LilyFleur
Posts: 1509
Joined: Fri Mar 02, 2018 10:36 pm

Re: Experience with Costco Citi Visa?

Post by LilyFleur »

I have used it in France (Paris and the countryside), London, Barcelona, and Venice. No problems at all.

4% back on gas
3% back on restaurants and travel
2% back on Costco purchases
1% back on everything else
tlk59
Posts: 66
Joined: Mon Nov 27, 2017 1:25 pm

Re: Experience with Costco Citi Visa?

Post by tlk59 »

It's been good, except we had a problem redeeming the rewards certificate this year. My wife took it into the store, and Costco tried to put it through on the computer. But it was in some kind of error state, so they called Citi to ask them to release it. But Citi thought the problem was on Costco's end.

So Costco said to open an issue with Citi, and my wife left the store. Citi opened an "investigation", and 2 weeks later sent us a letter saying they determined that, nope, as far as they're concerned, we did receive the rewards funds. So I figured that's it, we're out the $550...there's no way Costco will remember what happened if she goes back to the store.

But luckily when she went back to Costco, she got ahold of the same employee who tried to help her originally, who remembered the whole thing, and somehow they managed to get her the funds. Not sure if the issue was with Citi or Costco.
User avatar
Stinky
Posts: 5552
Joined: Mon Jun 12, 2017 11:38 am
Location: Sweet Home Alabama

Re: Experience with Costco Citi Visa?

Post by Stinky »

Used it in Canada within the last week. Exchange rates seem fine.
It's a GREAT day to be alive - Travis Tritt
AllMostThere
Posts: 142
Joined: Sat Dec 31, 2016 2:04 pm

Re: Experience with Costco Citi Visa?

Post by AllMostThere »

tlk59 wrote: Sat Jul 27, 2019 2:23 am It's been good, except we had a problem redeeming the rewards certificate this year. My wife took it into the store, and Costco tried to put it through on the computer. But it was in some kind of error state, so they called Citi to ask them to release it. But Citi thought the problem was on Costco's end.

So Costco said to open an issue with Citi, and my wife left the store. Citi opened an "investigation", and 2 weeks later sent us a letter saying they determined that, nope, as far as they're concerned, we did receive the rewards funds. So I figured that's it, we're out the $550...there's no way Costco will remember what happened if she goes back to the store.

But luckily when she went back to Costco, she got ahold of the same employee who tried to help her originally, who remembered the whole thing, and somehow they managed to get her the funds. Not sure if the issue was with Citi or Costco.
This experience is scary. I am not a fan on how Citi reimburses the rewards with that annual check that can only be redeemed at Costco. Too much risk with this process, if you ask me. While I like the 4% gas, 3% restaurant/travel rebates, I never use the card at Costco in-store. I use my Fidelity 2% cashback card as I consider getting the rebate now is better. As I have said in other posts, I'm shocked how silent Costco has been about Citi eliminating the Price Rewind and Trip Insurance benefits. I will be looking for another card to use for travel insurance benefit as me and DW plan to increase our travel when we FIRE in next couple years.

Edit: The warranty extension benefit is a nice perk that I forgot to mention. Even though I will only get 1% rebate (if used at non-Costco store) I use this for electronics and appliance purchases for 3x warranty.
krafty81
Posts: 309
Joined: Thu Jul 05, 2018 2:01 pm
Location: San Diego, CA

Re: Experience with Costco Citi Visa?

Post by krafty81 »

So if you get this card you have to redeem some kind of physical check to get the rebate? Why is it not just rebated back to the card?
Jags4186
Posts: 5123
Joined: Wed Jun 18, 2014 7:12 pm

Re: Experience with Costco Citi Visa?

Post by Jags4186 »

krafty81 wrote: Sat Jul 27, 2019 5:57 pm So if you get this card you have to redeem some kind of physical check to get the rebate? Why is it not just rebated back to the card?
Breakage.
Gryphon
Posts: 166
Joined: Sat May 07, 2016 11:43 am
Location: Missouri

Re: Experience with Costco Citi Visa?

Post by Gryphon »

Jags4186 wrote: Sat Jul 27, 2019 6:03 pm
krafty81 wrote: Sat Jul 27, 2019 5:57 pm So if you get this card you have to redeem some kind of physical check to get the rebate? Why is it not just rebated back to the card?
Breakage.
It's not an actual check, just a certificate you can use at Costco. You can give it to the cashier to pay for purchases, which puts that rebate money back in Costco's hands, or you can turn it in for cash at the service desk. If I remember correctly, the cash back rebate for the old Amex Costco card worked the same way. So it's that way because Costco wants it that way.
User avatar
Stinky
Posts: 5552
Joined: Mon Jun 12, 2017 11:38 am
Location: Sweet Home Alabama

Re: Experience with Costco Citi Visa?

Post by Stinky »

Gryphon wrote: Sat Jul 27, 2019 7:16 pm
Jags4186 wrote: Sat Jul 27, 2019 6:03 pm
krafty81 wrote: Sat Jul 27, 2019 5:57 pm So if you get this card you have to redeem some kind of physical check to get the rebate? Why is it not just rebated back to the card?
Breakage.
It's not an actual check, just a certificate you can use at Costco. You can give it to the cashier to pay for purchases, which puts that rebate money back in Costco's hands, or you can turn it in for cash at the service desk. If I remember correctly, the cash back rebate for the old Amex Costco card worked the same way. So it's that way because Costco wants it that way.
For info - the rebate at Sam’s Club works the same way. Once a year “check”, redeemable only at the Club.
It's a GREAT day to be alive - Travis Tritt
Jablean
Posts: 522
Joined: Sat Jun 02, 2018 2:38 pm

Re: Experience with Costco Citi Visa?

Post by Jablean »

Yep, they want you in the store to spend that money they are giving you. Depending on your membership level you may get another rebate check for that too depending on how much you spend in the store.
ParsimoniousFrontier
Posts: 5
Joined: Sun Apr 08, 2018 10:21 am

Re: Experience with Costco Citi Visa?

Post by ParsimoniousFrontier »

Just to be clear, I've had this card for the past few years and have redeemed the rebate for cash each year without any obligation/need to spend it at Costco.
niceguy7376
Posts: 2770
Joined: Wed Jul 10, 2013 2:59 pm
Location: Metro ATL

Re: Experience with Costco Citi Visa?

Post by niceguy7376 »

In the past two to three years, I only had one card that was compromised multiple times and replaced. That was costco visa card.
I only use that card at costco and gas stations (costco, kroger and others).

I am now experimenting to use this card only at costco (store and gas) and see if this repeats.

Hopefully, knock on wood, none of my other cards get into this scenario.
krafty81
Posts: 309
Joined: Thu Jul 05, 2018 2:01 pm
Location: San Diego, CA

Re: Experience with Costco Citi Visa?

Post by krafty81 »

Just ridiculous that you have to rebate in the store.
Pu239
Posts: 314
Joined: Mon Dec 17, 2018 6:24 pm

Re: Experience with Costco Citi Visa?

Post by Pu239 »

ParsimoniousFrontier wrote: Sat Jul 27, 2019 8:06 pm Just to be clear, I've had this card for the past few years and have redeemed the rebate for cash each year without any obligation/need to spend it at Costco.
I used to do this also w/o problem. However, I never liked waiting a whole year to receive the certificate so cancelled Citi Costco and began using another VISA with higher cash back % and no restrictions on redemption. I have no regrets dumping the Citi Costco card.
Between the idea And the reality...Between the motion And the act...Falls the Shadow - T. S. Eliot
bgrpph
Posts: 41
Joined: Sat Jul 05, 2014 2:46 am

Re: Experience with Costco Citi Visa?

Post by bgrpph »

i had a dispute on a $6k charge on Costco City VISA & city staff were just terrible. Vendor i charged $6k with concurred with my dispute as way to get $ reimbursed- City visa folks were aware of this but when i sent in info they requested they apparently couldn't read all of the attachments i sent. So, City visa, Instead of contacting & alerting me of they couldn't read my submissions, they reversed the conditional credit they had previously applied to my account and told me they considered the dispute resolved. (so the orig $6k charge stood). Just ridiculous- i called, sent letters, emails to their dispute staff & contacted the Consumer Financial Protection Board which got an immediate response. They certainly don't protect their customers in my view vs how American Express handles a customer's dispute.
Visa finally reversed the charge (charge made in March & finally permanently resolved on 6/30)- i now have a permanent resolution of this dispute but i had few weeks of worrying about this huge charge amount.
User avatar
oldcomputerguy
Moderator
Posts: 9209
Joined: Sun Nov 22, 2015 6:50 am
Location: In the middle of five acres of woods in East Tennessee

Re: Experience with Costco Citi Visa?

Post by oldcomputerguy »

This topic is now in the Personal Finance (Not Investing) forum. -- moderator oldcomputerguy
"I’ve come around to this: If you’re dumb, surround yourself with smart people; and if you’re smart, surround yourself with smart people who disagree with you." (Aaron Sorkin)
Broken Man 1999
Posts: 5035
Joined: Wed Apr 08, 2015 11:31 am
Location: West coast of Florida, inland on high ground!

Re: Experience with Costco Citi Visa?

Post by Broken Man 1999 »

ParsimoniousFrontier wrote: Sat Jul 27, 2019 8:06 pm Just to be clear, I've had this card for the past few years and have redeemed the rebate for cash each year without any obligation/need to spend it at Costco.
My experience also.

I see no reason to spend the rebate check at Costco. I would rather use Costco (or other rebate card) for the purchases we might make (OK, we ALWAYS make purchases :D ) when cashing the rebate check.

Broken Man 1999
“If I cannot drink Bourbon and smoke cigars in Heaven then I shall not go. " -Mark Twain
DSInvestor
Posts: 11363
Joined: Sat Oct 04, 2008 11:42 am

Re: Experience with Costco Citi Visa?

Post by DSInvestor »

krafty81 wrote: Sat Jul 27, 2019 8:35 pm Just ridiculous that you have to rebate in the store.
It's not bad at all. I took the certificate to the store on my next visit and handed it to cashier. I cashed it out instead of using it for the purchase. Had I used the certificate for the purchase, I miss out on 2% rebate offered by the credit card. I take the cash and use it to pay off my credit card purchases.
Wiki
SpaethCo
Posts: 235
Joined: Thu Jan 14, 2016 12:58 am
Location: Minneapolis

Re: Experience with Costco Citi Visa?

Post by SpaethCo »

InMyDreams wrote: Fri Jul 26, 2019 6:42 pmAnything else I should know?
In general, Citi's technology is on the better end of things. You can lock/unlock the card for transactions using the website or the mobile app. For security features like transaction notifications, you get notified immediately when the card is swiped. (Issuers like Barclays have transaction notifications, but only after the transaction posts which leaves way too much time for fraud to rack up.) Their autopay system allows you to schedule regular payments before the due date, which can avoid some of the problems other systems have if the due date falls on a weekend.

Had no problems using the card in the Dominican last Christmas, got all of the category cash back I expected and a fair exchange rate on the transactions.

This card fits nicely into a 2 credit card wallet system for me, and has extra utility because it serves as my Costco membership card. I only end up using this card for the 3% and 4% categories, since the Altitude Reserve card gets me 4.5% at Costco itself paying with Apple Pay.

I'm at Costco enough to get exceptional value out of my membership, so the most annoying part isn't redeeming in warehouse for me -- it's that I have to plan a trip to the credit union because Costco insists on paying out the rebate in cash even if it's several hundred dollars.
michaeljc70
Posts: 7099
Joined: Thu Oct 15, 2015 3:53 pm

Re: Experience with Costco Citi Visa?

Post by michaeljc70 »

I don't have the card as I use my Double Cash Back for just about everywhere (except Costco since they don't take MC) and prefer the straight 2% back rather than this % for this and that % for that. However the reward being needed to be redeemed at Costco on a COSTCO card is not that shocking like some people portray it. I spend so much at Costco that would not dissuade me in the least and as others said you can get cash at the service desk. Are people shocked that the American Airlines card is mostly redeemable for....American Airlines flights?
birdy
Posts: 364
Joined: Sun May 02, 2010 7:31 pm

Re: Experience with Costco Citi Visa?

Post by birdy »

Have used the Costco Visa card many times out of the country. No foreign transaction fee (we also take AAA card with no transaction fee as a back up) and decent exchange rate. As for the yearly rebate, just cash it at one of the Costco registers or do our grocery shopping and take the cash balance back as change.


birdy
Zonian59
Posts: 99
Joined: Fri Jul 14, 2017 4:12 pm
Location: California

Re: Experience with Costco Citi Visa?

Post by Zonian59 »

Have been a long time Costco member. Used the Costco Citi Visa for Costco store, gas and Costco online purchases. Have also used it at U.S. hotels and restaurents and non-Costco stores. No issues. Works just like a regular Visa card.

Did have an issue with CitiBank where they charged me a $25 return check fee when I paid online using a different checking account than I normally use. Turned out I entered the account number incorrectly and the payment bounced. Requested politely that they credit back the fee and reassured them I would pay the amount using an established account I've used for years. They promptly credited back the fee. Representative had to get a managerial approval, of course.

I haven't had an opportunity to use it purchasing an international airline ticket. Does Costco Citi Visa charge the foreign transaction fees (not to be confused with foreign rate exchange fees) where the HQ is based outside the U.S. and the transaction is routed through a non-U.S. bank? I experienced that fee when using a MasterCard.

How is Costco Citi Visa foreign rate exchange fees when paying in foreign country currency? Is it higher/lower than MasterCard or AMEX?
Namashkar
Posts: 126
Joined: Sun Sep 08, 2013 11:43 am

Re: Experience with Costco Citi Visa?

Post by Namashkar »

I had used the Costco Citi credit card for renting a car in US. A deer ran into the car and we had a damage of about $2,000. My insurance paid the claim except for the deductible and Costco Citi covered the deductible. I paid nothing out of pocket. I am really happy with its services.
dbr
Posts: 33842
Joined: Sun Mar 04, 2007 9:50 am

Re: Experience with Costco Citi Visa?

Post by dbr »

Contactless payment has worked well everywhere. In Australia they call it Paywave and is a pretty standard way of paying in shops and restaurants. Not that many other US cards are contactless though it is becoming more common. Contactless AMEX cards are not very useful in Australia because many shops and restaurants don't take AMEX.
oldfatguy
Posts: 649
Joined: Tue Feb 27, 2018 1:38 pm

Re: Experience with Costco Citi Visa?

Post by oldfatguy »

I got the Costco Citi Visa when they first transitioned from AMEX, and I ended up cancelling it within six months because of all the problems I experienced. Multiple fradulent charges (relatively small amounts) showed up almost immediately, so Citi sent me a new card, and the same thing happened again. Got 3 new cards issued within several months, and then gave up on Citi. Throughout the process, communication with them was horrible, and I was constantly transferred to some other department that had no idea why I was calling and couldn't see any of the activity on my account. YMMV
User avatar
Nate79
Posts: 6423
Joined: Thu Aug 11, 2016 6:24 pm
Location: Delaware

Re: Experience with Costco Citi Visa?

Post by Nate79 »

The Costco citi card is one of our main credit cards for cash back. Excellent cash back categories and good benefits. But disappointed with the cut in the benefits coming to this and all the other citicards.
cccheel
Posts: 20
Joined: Tue Jan 17, 2017 11:45 am

Re: Experience with Costco Citi Visa?

Post by cccheel »

krafty81 wrote: Sat Jul 27, 2019 8:35 pm Just ridiculous that you have to rebate in the store.
Yes, but they give you cash for it.
Post Reply