USAA Preferred Cash Rewards vs. Costco Anywhere Credit Card Comparison

Q: Do either of the cards have an annual fee?

Both cards have no annual fee , but the Costco card requires a Costco membership.

Q: What are the introductory APR offers for each card?

The USAA card offers an introductory 0% APR , while the Costco card does not have an introductory offer.

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Both the USAA® Preferred Cash Rewards Visa Signature® Card and the Costco Anywhere Visa® Card by Citi offer enticing cash back rewards and no annual fees, making them strong contenders for your wallet. The Costco Anywhere edges ahead with higher cash back rates on gas, travel and dining and is especially rewarding for frequent Costco shoppers due to its 2% cash back on Costco purchases.

The USAA Preferred Cash Rewards card offers a valuable introductory APR offer and is accessible to those with a military connection.

Ultimately, the best card for you depends on your affinity for Costco and your eligibility for a USAA membership.

USAA® Preferred Cash Rewards Visa Signature® Card

Costco Anywhere Visa® Card by Citi

MoneyGeek Rating

3.5/ of 5

Rates & Fees

MoneyGeek Rating

3.8/ of 5

Rates & Fees

REVIEW & APPLY

On Issuer's Site

REVIEW & APPLY

On Issuer's Site

Regular APR
16.40% – 28.40% variable
19.74% - 27.74% variable
0% APR Offer
-
-
Intro Offer
Earn a $200 reward bonus
No current offer
Rewards Summary
Earn 1.5% cash back
Earn 1%–4% cash back
Balance Transfer Offer
-
-
Balance Transfer Fee
5% of the amount of each Balance Transfer.
Either $5 or 5% of the amount of each transfer, whichever is greater
Annual Fee
$0
$0
Recommended Credit
670-850 (Good to Excellent)
740-850 (Excellent)
Penalty APR
None
Up to 29.99%
Not sure?
The USAA Preferred Cash Rewards is generally more versatile with its flat cash back rate on all purchases and lower APR range, making it suitable for a broad range of spending. In contrast, the Costco Anywhere card is tailored for Costco members who can maximize cash back on gas, travel and dining.
The Costco Anywhere card may offer more value if you're a frequent Costco shopper. Otherwise, the USAA Preferred Cash Rewards card provides simplicity and flexibility.

Which Card Is Better for You?

You might prefer the USAA Preferred Cash Rewards if you value a straightforward cash back program that rewards you equally for all purchases. With no annual fee and an introductory APR offer, this card is a solid choice for USAA members who want simplicity and consistent rewards.

You might prefer Costco Anywhere if you're a frequent Costco shopper and spend a lot on gas, dining and travel. The card's tiered cash back rewards can maximize your returns, especially with the added benefit of 2% cash back on Costco purchases, all without an annual fee with your Costco membership.

Head-to-Head Comparison: Card Details and Features

Evaluating APRs, fees, credit requirements, rewards and other features will clarify the strengths of each card. Specifics, like Costco Anywhere's high cash back on gas vs. the USAA Preferred Cash Rewards' flat-rate rewards, can help you tailor your decision to your spending and lifestyle.

Regular APR: USAA Preferred Cash Rewards

The USAA Preferred Cash Rewards card offers a better regular APR, starting at 17.15%, compared to the Costco Anywhere's 20.49% variable APR. The lower regular APR makes the USAA card more favorable for those who may carry a balance.

Annual Fee: USAA Preferred Cash Rewards

The USAA Preferred Cash Rewards card is better for those seeking a no-annual fee option without additional requirements. The Costco Anywhere card also has no annual fee but requires a paid Costco membership, which starts at $60 per year.

Introductory 0% APRs: Tie

Neither the USAA Preferred Cash Rewards nor the Costco Anywhere offers introductory 0% APRs on purchases or balance transfers. For those specifically seeking cards with introductory APR offers, consider exploring the best zero interest credit cards.

Rewards: Costco Anywhere

For rewards, the Costco Anywhere card is better for individuals who spend heavily on gas and frequently shop at Costco, offering up to 4% cash back on gas and EV charging (for the first $7,000 per year, then 1% thereafter), 3% on dining and eligible travel and 2% on Costco purchases. The USAA Preferred Cash Rewards provides a flat 1.5% cash back on all purchases, appealing for its simplicity and flexibility without category restrictions.

Welcome Offers: Tie

Neither the USAA Preferred Cash Rewards nor the Costco Anywhere offers a welcome bonus, making this feature a tie between the two cards.

Recommended Credit Score: USAA Preferred Cash Rewards

The USAA Preferred Cash Rewards is more accessible, catering to a broader credit score range. Both cards require excellent credit, but the USAA card's lower rating indicates a wider acceptance range.

Penalties and Fees: USAA Preferred Cash Rewards

The USAA Preferred Cash Rewards is better for penalties and fees, offering no late fees, penalty APRs, cash advance fees or foreign transaction fees. In contrast, Costco Anywhere imposes a late fee of up to $41, a penalty APR of up to 29.99% and a cash advance fee.

Issuer Satisfaction: USAA Preferred Cash Rewards

The USAA Preferred Cash Rewards outperforms Costco Anywhere in issuer satisfaction, with a rating of 4.8 for USAA compared to Citibank's 4.1. This suggests that USAA cardholders generally have a more positive experience with their issuer.

Other Features & Perks: Tie

Both cards offer unique perks. USAA Preferred Cash Rewards provides comprehensive travel insurance and security features, while Costco Anywhere offers damage and theft purchase protection and access to Citi Entertainment®. Each card caters to different needs, making them equally valuable depending on your priorities.

Rewards Comparison

The Costco Anywhere card outpaces the USAA Preferred Cash Rewards in terms of category-specific rewards, particularly for gas, dining and travel. With higher cash back rates in these areas, it's a strong contender for those who spend heavily on these categories and shop at Costco.

The USAA Preferred Cash Rewards provides a consistent 1.5% cash back on all purchases, making it a straightforward, no-fuss option for those who prefer simplicity and do not want to track category bonuses.

For Costco members, the additional benefits of the Costco Anywhere card, such as the higher cash back on purchases made at Costco and Costco.com, can add substantial value. However, for individuals who value a simple and consistent rewards structure across all spending, the USAA Preferred Cash Rewards may be more appealing. The table below outlines bonus categories to help you compare the rewards programs of both cards at a glance.

Category	USAA Preferred Cash Rewards	Costco Anywhere
Gas	1.5% Cash Back	4% for the first $7,000 annually/1% thereafter
Restaurants	1.5% Cash Back	3% Cash Back
Travel	1.5% Cash Back	3% Cash Back
Costco Purchases	1.5% Cash Back	2% Cash Back
All Other Purchases	1.5% Cash Back	1% Cash Back

Redeeming Rewards

The USAA Preferred Cash Rewards card allows for flexible redemptions without expiration concerns.

The Costco Anywhere card offers an annual distribution of rewards with specific redemption conditions, including an expiration date.

Methodology

MoneyGeek analyzes credit cards like the USAA Preferred Cash Rewards and Costco Anywhere based on their performance in various use cases. For this comparison, each card is assessed in the category where it scores highest, which is cash back for both. The factors influencing their scores are the value of the rewards program and the benefits of the card's offers.

FAQ: USAA Preferred Cash Rewards vs. Costco Anywhere

What are the cash back rates for each card?

The USAA Preferred Cash Rewards provides 1.5% cash back on all purchases, while the Costco Anywhere Visa offers up to 4% on gas.

Do either of the cards have an annual fee?

Both cards have no annual fee, but the Costco card requires a Costco membership.

Are there foreign transaction fees associated with these cards?

The USAA Preferred Cash Rewards card has no foreign transaction fees, while the Costco card does not charge them with a Costco membership.

Is a Costco membership required for the Costco Anywhere Visa Card by Citi?

Yes, a Costco membership is required for the Costco Anywhere card.

What are the introductory APR offers for each card?

The USAA card offers an introductory 0% APR, while the Costco card does not have an introductory offer.

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.

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*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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USAA® Preferred Cash Rewards Visa Signature® Card vs. Costco Anywhere Visa® Card by Citi