Updated: November 18, 2024
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Both the Blue Cash Everyday Card from American Express and the Costco Anywhere Visa Card by Citi offer appealing cash back rewards without annual fees. The Costco Anywhere edges ahead with a slightly higher cash back score, especially if you're a frequent Costco shopper.
On the other hand, those who prioritize flexibility and online shopping rewards will appreciate the Blue Cash Everyday's broad cash back categories and introductory APR offer.
You might prefer the Blue Cash Everyday if you value a card that rewards your everyday spending. With cash back on supermarket, online retail and gas station purchases, a $200 welcome offer and no annual fee, it's a solid choice for routine expenses. The introductory 0% APR for 15 months on purchases and balance transfers can also be particularly helpful for managing cash flow or paying down debt.
You might prefer the Costco Anywhere Visa if you're a frequent Costco shopper or spend a lot on gas and travel. The card's higher cash back rates in these categories can add up quickly, especially with no foreign transaction fees. Although it lacks an introductory offer, the ongoing rewards can outweigh this if your spending aligns with the card's bonus categories. Remember, a Costco membership is required to benefit from this card.
Evaluating APRs, fees, credit requirements, rewards and other features will clarify which card better aligns with your financial needs and lifestyle. For instance, the Costco Anywhere's rewards structure could be more beneficial if you shop at Costco and spend a lot on gas. If you don't, you may get more from the Blue Cash Everyday's welcome offer and varied cash back categories.
Regular APR: Tie
Both the Credit One Bank American Express Card and the Credit One Bank Platinum Rewards Visa With No Annual Fee offer a Regular APR of 29.74% variable. There is no difference in APR between these two cards.
Annual Fee: Credit One Platinum Rewards
For avoiding annual fees, the Credit One Bank Platinum Rewards Visa With No Annual Fee is the clear winner with its $0 annual fee, compared to the Credit One Bank American Express Card which charges $39.
Introductory 0% APRs: Tie
Neither the Credit One Bank American Express Card nor the Credit One Bank Platinum Rewards Visa With No Annual Fee offers an introductory 0% APR for purchases or balance transfers. For options that do, consider exploring best zero interest credit cards.
Rewards: Credit One Platinum Rewards
The Credit One Platinum Rewards is better for rewards, offering 2% cash back on eligible gas, grocery, mobile phone, internet, cable, and satellite TV services. In contrast, the Credit One Amex provides a flat 1% cash back on all purchases.
Welcome Offers: Tie
Neither the Credit One Bank American Express Card nor the Credit One Bank Platinum Rewards Visa With No Annual Fee offers a welcome bonus, making this feature a tie between the two cards.
Recommended Credit Score: Credit One Amex
The Credit One Bank American Express Card is more accessible, requiring a lower credit score range of 580-740, compared to the Credit One Bank Platinum Rewards Visa's 670-850 range.
Penalties and Fees: Credit One Bank American Express® Card
For penalties and fees, the Credit One Bank American Express Card is slightly better due to its lower cash advance fee of either $5 or 8% of the amount, compared to the Credit One Bank Platinum Rewards Visa's cash advance fee of either $10 or 5%.
Issuer Satisfaction: Tie
Since both cards are issued by Credit One Bank, they share the same issuer satisfaction rating of 2.0. There is no difference in issuer satisfaction between the two cards.
Other Features & Perks: Tie
Both cards offer unique perks that cater to different preferences. The Credit One Amex provides valuable travel and shopping benefits, including $0 Fraud Liability, Retail Protection, exclusive access to presale tickets, and Travel Accident Insurance. On the other hand, the Credit One Platinum Rewards emphasizes convenient account management with its mobile app, customizable alerts, and free online credit score and report summary, alongside $0 Fraud Liability. Choosing between them depends on whether you value travel and shopping perks or account management and credit monitoring tools more.
The Costco Anywhere card wins out over the Blue Cash Everyday in overall rewards, particularly with its 4% cash back on gas and EV charging and 3% on dining and travel. The additional 2% back on Costco purchases can be a significant perk for Costco loyalists.
The Blue Cash Everyday's rewards are still solid, with 3% cash back at U.S. supermarkets and online retail purchases. The table below outlines the bonus categories for each card to help you compare at a glance.
Category | Blue Cash Everyday | Costco Anywhere |
|---|---|---|
Gas & EV Charging | 2% | 4% (until $7,000 per year, then 1%) |
U.S. Supermarkets | 3% | 1% |
Restaurants | 1% | 3% |
Travel | 1% | 3% |
Costco Purchases | 1% | 2% |
Select U.S. Department Stores | 2% | 1% |
Other Purchases | 1% | 1% |
Transitioning from the rewards earning potential of both cards, let's examine how you can redeem these rewards. The Credit One Amex simplifies the process by automatically applying your cash back as a statement credit. There's no need to worry about reward expiration either, as your cash back does not expire as long as your account remains in good standing. On the other hand, the Credit One Platinum Rewards does not specify a redemption method, but similarly, the rewards do not expire as long as your account is active. Both cards ensure that the rewards you earn are straightforward to use and maintain.
MoneyGeek assesses credit cards like the Blue Cash Everyday and Costco Anywhere using a tailored scoring system for various use cases. This approach ensures that the score reflects the card's performance in the scenario where it provides the most value.
For cash back cards, the primary factors we consider are the effective reward rate and the return on investment for offers. These elements — along with annual fees, introductory purchase rates and issuer satisfaction — contribute to a card's overall score.
The Blue Cash Everyday® offers $200 in statement credits after spending $2,000 in the first six months.
The Blue Cash Everyday rewards everyday purchases, whereas the Costco Anywhere maximizes gas, dining and travel.
Blue Cash Everyday has a 0% intro APR for 15 months. Costco Anywhere does not have an intro APR offer.
Costco Anywhere has no foreign transaction fees, which is better for international travel.
Neither card has an annual fee, but the Costco Anywhere requires a Costco membership.
For rates and fees of the Blue Cash Everyday® Card From American Express, please click here.
About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
