Credit One Bank® Platinum X5 Visa®
vs. Costco Anywhere Visa® Card by Citi

Both the Credit One Bank Platinum X5 Visa and the Costco Anywhere Visa Card by Citi offer cash back rewards. However, the Costco Anywhere Visa edges ahead with its higher cash back rates on gas, travel, and dining and no annual fee structure, provided you're already a Costco member.

The Credit One Platinum X5 is more accessible with its lower credit score requirement and also offers a robust 5% cash back on select categories. If you frequently shop at Costco, the co-branded Costco Anywhere Visa could yield the most benefit. Yet, for those with lower credit scores or who value flexibility in credit requirements, the Credit One Platinum X5 remains a worthy option.

You might prefer the Costco Anywhere if you have excellent credit and are a frequent Costco shopper. This card offers a range of cash back rewards, including 4% on gas and EV charging, without an annual fee, provided you have a Costco membership. It's a solid choice for everyday spending, especially if you want to maximize rewards on a variety of purchases.

You might prefer the Credit One Bank Platinum X5 if your credit score is in the fair to good range and you're looking for cash back on specific categories like gas, groceries and utility services. Despite a higher APR and annual fee, this card offers a competitive 5% cash back on these select purchases up to $5,000 annually.

Evaluating APRs, fees, credit requirements, rewards and additional features will illuminate which card aligns with your financial habits. The Costco Anywhere card benefits frequent Costco shoppers with generous cash back on gas and travel, while the Credit One Platinum X5 card offers substantial rewards on everyday expenses.

The Credit One Platinum X5 stands out for its 5% cash back on essential services like internet, cable and mobile phone service, up to $5,000 annually. After that cap, the rewards rate drops to 1%, but it's a strong contender for those with high spending in these categories.

The Costco Anywhere card doesn't charge an annual fee with a paid Costco membership and offers a broad range of cash back categories, including an impressive 4% on gas and EV charging (up to $7,000 per year) and 3% on dining and travel, which are common expenses for many consumers. While the Costco Anywhere card may have a lower expected reward value, its rewards are more diverse and can be redeemed for cash or merchandise at Costco warehouses, adding a layer of flexibility for Costco shoppers.

For those who frequent Costco, the additional benefits of the Costco Anywhere card can be quite valuable, especially considering the 2% cash back on all purchases from Costco and Costco.com.

Below is a table of bonus categories to help you compare the rewards programs of both cards.

For the Costco Anywhere card, cash back is issued annually via a reward certificate after the February statement. These certificates can be redeemed at Costco warehouses for goods or cash back but must be used by December 31 of the year issued.

Active Costco membership is required for redemption. In contrast, the Credit One Platinum X5 card simplifies the process, allowing cash back to be redeemed solely as a statement credit, providing a straightforward but less flexible approach.

MoneyGeek provides in-depth reviews of credit cards like the Credit One Platinum X5 and Costco Anywhere using a tailored scoring system for various use cases, such as cash back. In this comparison, each card's score reflects the category where it performs best.

The most significant factors in determining these scores are the effective reward rate and the return on investment for offers.