costco citi rewards

[Anonymous]

hello,

I'm new to the whole rewards thing and doing my best to take advantage of these opportunities. I just got the Costco Citi card, Chase Sapphire Preffered, and the Chase Freedom Unlimited. I'm doing my best to fully understand each card, but it seems like the Costco card might be the best for everyday spending as far as gas, groceries, and dining (please correct me if im wrong). 

I've only made a few small purchases with the Costco card so far, and I'm wondering when the rewards balance gets updated? It doesnt seem to be updated with each transaction, so is it monthly? Are there any payment strategies to ensure I'm getting my full rewards?

Thanks!

[Anonymous]

It updates monthly when your statement cut, no payment strategy will affect your reward total other than to pay on time.  You will receive a Costco rewards certificate at your anniversary, you can use it to pay for new purchases at Costco or cash it at Costco customer service desk, it's better to cash it and charge the new purchase to earn more rewards.

[CountryLivin]

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@Anonymous wrote:
It updates monthly when your statement cut, no payment strategy will affect your reward total other than to pay on time.  You will receive a Costco rewards certificate at your anniversary, you can use it to pay for new purchases at Costco or cash it at Costco customer service desk, it's better to cash it and charge the new purchase to earn more rewards.

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+1

[Anonymous]

The Sapphire Preferred is the best for dining if you plan to redeem your points for travel (by transferring the points to the right partners). If you don't plan to redeem for travel you should consider calling Chase to change the card to a Freedom. Gas and groceries (if you shop at Costco) should probably go on your Costco card (although the groceries could go on the freedom unlimited. You may get better value that way, but 2% cash back isn't terrible). Everything that isn't a bonus category should go on the freedom unlimited.

[jaimeylynn]

The rewards are not sent with your anniversary for the Costco anywhere visa card. Your rewards accumulate from your January (or whatever month you got the car following Jan) through your December statement date and you're issued your reward certificate in Feb delivered in with your February statement. If you also have the executive membership @ Costco then you earn 2% cash back from Costco's executive cash back rewards program also which IS sent a month or so before your anniversary date. The executive rewards issued by Costco are completely separate from the 4% 3% 2% and 1% that you earn with the visa.