Costco offers two credit cards, but only one is a true Costco-branded card
Costco has one co-branded credit card issued in partnership with Visa and Synchrony Bank: the Costco Anywhere Visa Card by Synchrony. This card works at Costco warehouses, Costco.com, and at any merchant that accepts Visa. There is also the Costco Anywhere Visa Card for American Express members, which is issued by American Express and works only at Costco locations and Costco.com, not at other retailers.
Both cards require an active Costco membership to open and use. The Costco Anywhere Visa by Synchrony has an annual fee; the American Express version does not. The rewards structure and benefits differ between the two, so the right choice depends on where you spend most of your money and what benefits matter to you.
Key Takeaways
- Costco offers two credit cards: one Visa card that works everywhere, and one American Express card that works only at Costco.
- Both cards require an active Costco membership and are issued by third-party banks, not by Costco itself.
- The Synchrony Visa card charges an annual fee but earns rewards at any merchant; the American Express card has no annual fee but only earns rewards at Costco.
- Rewards from both cards are paid as Costco Cash, which you can only spend at Costco warehouses or online.
Costco Anywhere Visa Card by Synchrony: rewards everywhere, annual fee
The Costco Anywhere Visa Card by Synchrony is the card that works outside Costco. You earn 4% cash back on gas (up to $7,500 per year, then 1%), 3% on restaurants and travel, 2% at Costco warehouses and Costco.com, and 1% on all other purchases. Rewards are paid as Costco Cash, which appears as a certificate in your Costco account that you can print or use in-warehouse.
This card carries an annual fee. You do not earn rewards on the annual fee itself. The card is issued by Synchrony Bank, which also handles customer service and billing. Synchrony offers an online account portal and a mobile app for managing your card.
Because this card is a Visa, you can use it at any merchant that accepts Visa worldwide. This makes it useful if you want a single card that earns Costco rewards on everyday spending outside the warehouse, then higher rewards when you shop at Costco.
Costco Anywhere Visa Card for American Express members: no annual fee, Costco only
The Costco Anywhere Visa Card for American Express members has no annual fee. You earn 4% cash back on gas at Costco, 3% on restaurants and travel booked through American Express Travel, 2% at Costco warehouses and Costco.com, and 1% on all other purchases. Like the Synchrony card, rewards are paid as Costco Cash.
This card is issued by American Express and works only at Costco locations and Costco.com. You cannot use it at other retailers. The card requires an American Express membership, which is separate from your Costco membership and carries its own annual fee.
The main trade-off is simplicity: if you only shop at Costco and want no annual fee on the card itself, this card avoids the Synchrony card's yearly cost. However, if you want to earn Costco rewards on gas, groceries, or dining outside Costco, the Synchrony card is the only option.
How Costco Cash rewards work and when you can use them
Both cards pay rewards as Costco Cash, not as points or miles. Costco Cash is a certificate that appears in your Costco account online and can be printed or displayed on your phone in-warehouse. You can also receive it by mail if you request it.
Costco Cash can only be spent at Costco warehouses or on Costco.com. You cannot transfer it to another person, convert it to cash, or use it elsewhere. If you do not spend your Costco Cash before it expires, you lose it. Costco does not publicly state an expiration date, so contact Costco member services to confirm how long your certificate is valid.
Rewards are typically posted to your account monthly. The exact timing depends on your statement closing date and Synchrony's or American Express's processing schedule. You can check your Costco Cash balance in your online account at any time.
Membership requirements and who can open a Costco card
You must have an active Costco membership to open either card. Costco membership is separate from the credit card and requires its own annual fee. If your membership lapses, you cannot use the credit card, even if the card itself is still active.
Costco does not issue these cards directly. The Synchrony Visa card is issued by Synchrony Bank, and the American Express card is issued by American Express. Both banks will run a credit check and review your credit history before approving you. There is no may provide of approval.
If you are not a Costco member, you cannot open a Costco credit card. You would need to join Costco first, which requires paying the membership fee upfront.
Comparing the two cards side by side
| Feature | Costco Anywhere Visa (Synchrony) | Costco Anywhere Visa (American Express) |
|---|---|---|
| Annual Fee | Yes | No |
| Works Outside Costco | Yes (Visa accepted everywhere) | No (Costco only) |
| Gas Rewards | 4% at Costco; 4% at Costco gas stations | 4% at Costco gas stations |
| Restaurant Rewards | 3% | 3% (if booked through Amex Travel) |
| Costco Warehouse Rewards | 2% | 2% |
| Other Purchases | 1% | 1% |
| Issuer | Synchrony Bank | American Express |
| Requires Amex Membership | No | Yes |
When to choose each card
Choose the Costco Anywhere Visa by Synchrony if you spend money outside Costco and want to earn rewards on those purchases. The 4% back on gas and 3% on restaurants and travel can add up quickly if you use the card regularly. The annual fee is worth it if you spend enough to earn back more in rewards than the fee costs. This card is also the only option if you do not want to pay for an American Express membership.
Choose the Costco Anywhere Visa for American Express members if you shop almost exclusively at Costco and want to avoid paying an annual fee on the card itself. This card makes sense if you already have an American Express membership for other reasons, or if you are willing to pay for Amex membership to get the card with no annual fee. If you rarely shop outside Costco, the Synchrony card's annual fee may not be worth it.
If you do not shop at Costco frequently enough to justify a membership, neither card is an option. Costco membership is required for both.
Frequently Asked Questions
Can I use a Costco credit card without a Costco membership?
No. Both Costco credit cards require an active Costco membership. If your membership expires, you cannot use the card at Costco, even though the card itself may still be active with the bank.
Do I have to get a Costco credit card to shop at Costco?
No. You can shop at Costco with cash, debit, or any other credit card. The Costco cards are optional and only worth getting if the rewards structure matches your spending.
What happens to my Costco Cash if I cancel my membership?
Contact Costco member services to find out. Policies on unused Costco Cash vary, and you should confirm before your membership ends to avoid losing your balance.
Can I use Costco Cash online?
Yes. Costco Cash can be used on Costco.com the same way you use it in-warehouse. You will need to enter the certificate number at checkout.
Which card should I get if I want to earn rewards at gas stations outside Costco?
Only the Costco Anywhere Visa by Synchrony earns 4% cash back at any gas station. The American Express card only earns 4% at Costco gas stations, not at other retailers.