topic Re: Happy Costco Reward Certificate Day! in Credit Cards

Happy Costco Reward Certificate Day!

dfwxjer — Thu, 20 Feb 2025 00:27:58 GMT

My certificate just posted today, and I'm still very thankful we no longer have to redeem them for cash at Costco

This will be my last year of a large certificate since I no longer daily drive a gas thirsty Jeep, but it'll be nice to cut my fuel bill by well over half.

Re: Happy Costco Reward Certificate Day!

KatzNDawgs — Thu, 20 Feb 2025 02:44:48 GMT

I don't have a Costo card but have been contemplating it. Are you saying the rewards are only available once a year? I haven't had a card that did that before, not sure if I'm a fan.

Re: Happy Costco Reward Certificate Day!

dfwxjer — Thu, 20 Feb 2025 03:13:26 GMT

Yup, it earns Jan 1st thru Dec 31st and then cumulative rewards are paid out via a certificate after the February statement closes. If you prefer monthly rewards then this isn't the right card for you.

At least it can be electronically deposited these days. They used to send a physical certificate that had to be taken to Costco to be paid out in actual cash lol.

Re: Happy Costco Reward Certificate Day!

Gunnerboy — Thu, 20 Feb 2025 03:29:07 GMT

@dfwxjer wrote:
At least it can be electronically deposited these days. They used to send a physical certificate that had to be taken to Costco to be paid out in actual cash lol.

I believe this option is only available when your certificate is at least $500, correct?

Re: Happy Costco Reward Certificate Day!

dfwxjer — Thu, 20 Feb 2025 05:00:29 GMT

Mine was only $348 this past year and I still had the option to direct deposit. My certificate the last 2 years was quite a bit more and also had the option to direct deposit.

Re: Happy Costco Reward Certificate Day!

GZG — Thu, 20 Feb 2025 05:00:58 GMT

@dfwxjer wrote:
Yup, it earns Jan 1st thru Dec 31st and then cumulative rewards are paid out via a certificate after the February statement closes. If you prefer monthly rewards then this isn't the right card for you.

At least it can be electronically deposited these days. They used to send a physical certificate that had to be taken to Costco to be paid out in actual cash lol.

how does that work? ^^

Re: Happy Costco Reward Certificate Day!

dfwxjer — Thu, 20 Feb 2025 14:22:19 GMT

@GZG wrote:
@dfwxjer wrote:
Yup, it earns Jan 1st thru Dec 31st and then cumulative rewards are paid out via a certificate after the February statement closes. If you prefer monthly rewards then this isn't the right card for you.

At least it can be electronically deposited these days. They used to send a physical certificate that had to be taken to Costco to be paid out in actual cash lol.
how does that work? ^^

Which part?

These days Costco Citi members receive the certificate after the February statement closes that can be taken to Costco or have the option to direct deposit it in to the bank account they have on file. It's just a button in the app after the certificate is ready. In the past they would mail a physical certificate and the member had to go stand in line at the Costco customer service counter to get paid in cash.

Hope that answers the question.

Re: Happy Costco Reward Certificate Day!

dfwxjer — Fri, 21 Feb 2025 05:05:38 GMT

As an update, they sent an email today saying "Since your certificate is $300 or over, it can be redeemed via direct deposit..."

So I guess they do have a threshold for it, $300.

Re: Happy Costco Reward Certificate Day!

ptatohed — Fri, 21 Feb 2025 07:29:59 GMT

I couldn't imagine waiting a year+ for my cash back. Plus paying an annual fee to be a member (to give them my business). They built a Costco on my exit and I still avoid joining. No thanks. Not for me.

Re: Happy Costco Reward Certificate Day!

dfwxjer — Fri, 21 Feb 2025 17:49:31 GMT

@ptatohed wrote:
I couldn't imagine waiting a year+ for my cash back. Plus paying an annual fee to be a member (to give them my business). They built a Costco on my exit and I still avoid joining. No thanks. Not for me.

I understand Costco, and their Citi card, aren't for everyone. I personally don't mind and see great value in both the store and their card.

Even without the 5% back, their gas is consistently cheaper than anyone else around me. Just checking my Gas Buddy app I show Costco premium fuel is 23 cents per gallon cheaper than the next cheapest place. Add on the 5% back, coupled by the sheer amount of driving I do, and it's a significant savings.

But I'd pay for the Costco membership regardless since we have 3 kids and shop there quite a bit.

Re: Happy Costco Reward Certificate Day!

flash123 — Mon, 14 Apr 2025 07:28:46 GMT

I see the wholesale club membership fee as method for discounted gas before any wholesale other purchases. If gas is >=15 cents/gallon cheaper from the membership, I come out ahead

15 gallons fill up once a week is >=$2.25/weekly savings

48 weeks is >=$108/year savings

This is close to executive or plus membership fee which pays for privilege of discounted gas. If I now add on 4-5% cash back credit card that works at wholesale club, I make even more money.

I see Citibank Costco card as combination gas and travel with auto travel/protection related insurance without paying AF. The only other card from a major bank that combines travel/gas rewards is Wells Fargo Autograph card. The AAA cards have varying levels of rewards but Daily Advantage is better for wholesale club purchases while Travel Advantage is best for gas minus rewards wholesale club rewards. If you are luckly enough to live on AL or TN, the Redstone Federal Credit Union VISA Signature has best combo for wholesale club.

You also have option to get Walmart+ membership to get 10 cents/gallon discount on Exxon, Mobile, Murphy Gas besides access to Sam's Club gas station via Walmart+ QR code. I see Walmart+ membership as way to get Paramount+ with Showtime no AD streaming service since I was going to purchase this anyway.

I got NFCU More Rewards credit card to get Walmart+ credit benefit. It will be a backup card to my Redstone since it has no FTF, has transit category like Flagship "travel" category and runs on Amex payment network instead of VISA. The rewards category does not beat my Verizon card cashback rewards but the "transit" category is still a nice for random parking, tolls, subway, ferry and train purchases throughout the year. I think rideshare is also included in this category on this card but I have not tested it. I have test in-store Walmart and Walmart Pay purchases with be rewarded on grocery category. I doubt Walmart Pay.

Re: Happy Costco Reward Certificate Day!

creditrizz — Mon, 14 Apr 2025 08:51:19 GMT

Costco saves a ton of money over the course of year, it's worth the fee for sure. Their credit card is really only good for the 5% off gas, though - and pretty decent for 3% on travel which isn't that easy to come by on other cards as far as I've seen. For the 2% in-store the card gives you, I'd rather use a standard 2% card that gives you the cash back monthly so you can invest it immediately.

When you combine costco prices + the smartly card 4% + the exec membership 2% back, that's a deal that the devil himself couldn't beat!

Re: Happy Costco Reward Certificate Day!

ptatohed — Mon, 14 Apr 2025 17:16:12 GMT

@Anonymous , how are you getting free Paramount+ with no ads and Showtime, with Walmart+? All I get is Paramount+ with ads.

Re: Happy Costco Reward Certificate Day!

unsungivy — Wed, 16 Apr 2025 13:44:48 GMT

@ptatohed wrote:
@Anonymous , how are you getting free Paramount+ with no ads and Showtime, with Walmart+? All I get is Paramount+ with ads.

You can pay to upgrade through Walmart+.

Re: Happy Costco Reward Certificate Day!

unsungivy — Wed, 16 Apr 2025 13:57:24 GMT

Costco is worth it.

The Costco CARD? No. Getting paid only once a year is just one of the reasons fairies die when someone opens a new Costco Visa.

To be clear, it used to be solid when we didn't have so many other good cards. So, if you already have it from years ago, no skin off your back. You can sock-drawer it and move on, unless you don't have a 5% gas option for some reason.

Now however, given all the other, better options, its not worth the hard pull, yet it suckers people into thinking it is and not looking any further. That makes me very very angry about it. It's not even worthwhile being the card to use at its own store (I was getting 2%, then 3.5% with BofA CCR, now I use USBAR or Smartly for 4.5% and 4%, though the "free" no pull PayPal Debit card will give 5%... yes it's MC but Costco takes MC debits I'm told).

"Friends don't let friends get the Costco Card."