if you've been a Costco member for a few months then you surely have heard about the Costco Visa card whether you heard about it at the membership desk when you were signing up for your membership or maybe on a random weekend somebody approached you either at the entrance or at the register and ask you if you wanted to sign up so I believe this to be a little bit inconvenient and even annoying in some sense because they're coming at you when you're just trying to go in and Shop or you're just checking out and I've been a part of these campaigns Costco calls these campaigns that we do every few months where we ask people if they want to sign up for the Visa card and I don't think we we have the right amount or the right approach to tell you about all of the benefits of the credit card but if you're watching this video then you are at least curious to know whether this card is worth it it is probably so let's go let's go over the benefits of the card and maybe some potential cons of it that way you can make a more educated decision on whether you want to get this card or not now before you go on and calling me a corporate shill let me tell you my experience I'm not a credit card lover and in fact with the Costco card it took me a few years to get it I was very much against it and this is when we had the American Express card but little by little I decided you know what like I I am an employee so I I should have the credit card right I should promote my employer and so I got it and I didn't use it very much and then we switched to the Visa card the Costco Citibank visa and the benefits that come with it are actually really good if you know how to use them so let's go over this real quick so first of all if you want to apply for the card you have to go to the membership desk you just go anytime the Costco store is open and just let them know hey I want to apply for the card and then they'll punch in some codes into a iPad and then you you enter your information just like any other credit card application and that's it they let you know right there if you're approved or not and yes they do check your credit it's a soft credit check so be aware of that with that being said from all of the the people that I've uh helped I have noticed that if you don't have any credit history you're not very likely to get the card I think Costco like really likes people to have a little bit of History before they approve the card now when you apply for the card if you're approved you will be approved right there and they'll tell you exactly how much uh what your credit limit is and then the Costco employee will give you a temporary card which is just a piece of paper that comes with two barcodes your membership barcode and the credit card barcode so that you can use your card right away and we do recommend that if you're using your card or that if you get your card that you use it the same day because your points and your rewards start working that same day now if you don't get approved the same day and they give you like uh oh here's a code contact them to find out more information there's two things that could happen from this one you just don't meet the requirements and you weren't approved but every now and then they really just need a little bit more information so they'll ask for like uh I think they ask for pay stubs or just more proof of income and it's usually pretty easy sometimes it's it's as simple as just verifying your address which is kind of dumb but I have had people call the Visa card or the number and they just ask for like to verify the address and the name and they're like okay yeah you're approved for like whatever thousand dollars right so if you don't get approve right away don't get discouraged just get that code get the number call them and then just figure out what they need and and go from there now the other way you could get this card is if Costco is doing one of their campaigns and they come up to you and ask you now the benefit of getting the card during these campaigns is that usually they have cheap incentives and that it is what it is that's uh they usually will give you like a like a bag with a bunch of Costco items like protein shakes and energy drinks and just a bunch of Kirkland Signature items which it's not a lot but it's better than not getting anything at all right so if you happen to do that that's awesome if you want to wait until somebody comes and asks you about it uh do it that way so let's go over some of the benefits of having this credit card so one no annual fees what does that mean it means that most credit cards when you have it they'll charge you a fee every year just for having the card the Costco Visa card as long as you're a Costco member there is no annual fee so you just get the benefits so what are the benefits so first of all you get four percent cash back on all gas and EV charging which is a new one the EV charging as you want but yeah if you ever go get gasoline at a Costco gas station or really any other gas station you will get four percent cash back on that they do three percent cash back on restaurants and traveling and again this doesn't have to be through Costco as long as you use your card for any flights or restaurants or anything that has to do with traveling you will get three percent cash back which is super awesome you get two percent cash back on all Costco purchases including Costco.com the only items that don't count for the two percent cash back I believe it's the pharmacy and with your executive membership you don't get two percent cash back on gasoline but you are getting four percent cash back through the seat of Visa card so it kind of balances out and then you get one percent cash back on everything else that you spend so it doesn't matter how you spend your card you're always going to make money back but with I I believe that with just the gas food and even the Costco shopping I think that's more than enough like you're getting a lot of money back so another cool thing about the city Visa card is that it is joined to your membership so if you have your Costco card this part right here here this is your city Visa card on the back side is your Costco membership card and your membership number is right there mine is blocked for safety you know I don't want anybody like looking me up please but yeah so if you have this card you don't have to bring this along with your Costco card because the number will be the same back here and I would recommend to even verify and make sure that the numbers match most of them will start with one one or like 883 another benefit of the card is that there is no limit to the Cash Back Rewards I've seen some incredible checks for like seven thousand dollars these are usually like business owners and they use their card to buy everything for their business so they get a lot of cash back but even me like my my membership and my credit card it's two people uh me and my wife and our checks from City Visa are typically between three and five hundred dollars sometimes more okay next benefit the Costco City Visa app so what I like about the app is that you can make your payments the same day like I usually will go get gas or go shopping and whatever I'm spending on the card as soon as I pay it with the city Visa card I will go into the app and then pay it with my debit card and this is one important thing that you're probably going to hear from a lot of people that talk about the usage of credit cards is to never spend the money that you don't actually have and and I couldn't agree more if you don't have the money I wouldn't spend it but if you have the money use your credit card get the benefits and then pay it off the same day it's the best thing you can do there's a lot of little there's a lot of cool benefits that come with the app like you can see your FICO score you can see all of your statements you can set up alerts there's like anti-theft as well and it's really cool I've I've actually gotten a call when I made a really big and unusual purchase I got a call a couple of minutes later and it was Citibank and they were like hey we just saw this unusual like payment was this you or do we need to block your card and I was like no that was me and that was really cool so there's another benefit to that okay so here are a couple of the cons of the card the first con would be if you cancel sell your membership card like your Costco membership card but don't cancel the city Visa card then that annual fee that gets waived is no longer waived and the price for it is actually 85 so once you cancel your membership card uh if you don't cancel your city Visa within 30 days or like sign up again for another Costco membership card then you will get charged 85 and the other con that I don't know that it's a real con is just I feel like it's an old school way of doing things and people still try to do it but it's just not how it works is making payments to your card uh or troubleshooting anything to do with your card Costco has nothing to do with that so Costco just provides the application and they provide the card and they merge it with a membership card right like physical physically but if you have questions about your statements or you want to make a payment you can't just call Costco or go to the Costco desk and ask about it I understand how it can be a little inconvenient but at the same time in the back of your card there's a little number it's right here for customer service and there probably one of the best customer service like full nights I've ever like worked with so it's as easy just calling them there instead of having to go into the store or anything like that you can make your payments over the phone you can make your payments on the app and any questions that you have same thing just give them a call they're super awesome I don't remember ever waiting more than like five minutes on hold and their their automated system is not annoying like most are so okay so that is it what do you think are these benefits good enough for you to get the Costco Visa card or are you still not gonna get it it's okay if you don't again I'm not like a pro credit card person or anything like that I just think if you're gonna get a credit card get the Costco credit card because it's awesome the only other card I might recommend is the Amazon card because they give you five percent cash back on I think everything and you can use that at Costco as well so or get both there's benefits to both I don't know much about the Amazon ones so don't ask me about it I just know that it's a good one but anyway if you like this video and it was helpful and it informed you then go ahead and leave a like uh if you haven't subscribed go ahead and click that subscribe button click the Bell button so you know when I upload videos and if you have any more questions regarding the card please feel free to leave them in the comment section below I I will go through them and answer them I am sure I forgot a lot of information but but let's have a conversation down there okay and I'll see you guys next week [Music]