What Is the APR for the Costco Anywhere Visa® Card by Citi?

The Costco Anywhere Visa® Card by Citi is available only to Costco members with a paid membership. The card comes with many benefits, like no annual fee¹ and 3% back on restaurants and eligible travel, including Costco Travel.¹

There is a range for the annual percentage rate (APR) for Costco Anywhere Visa^® cardholders. The actual a customer will receive is based on creditworthiness and other factors. You can view the current range of APRs.¹ Here’s what you need to know about how APR is determined.

Types of APR

APR or annual percentage rate is the yearly amount you’ll pay in interest on transactions. Certain transactions, like purchases, have an interest-free grace period. You’ll only be charged interest if you don’t pay your balance in full every month. For other transactions, like cash advances, there is no grace period, and you will start accruing interest immediately. The APR on a credit card is often variable, meaning it can change over time.

Financial institutions typically set a range of APRs for each product they offer. This number can vary with the market and is based on their prime rate, or the rate banks charge their most creditworthy borrowers. APRs can increase or decrease as broader market conditions change.

There are different APRs depending on the type of transaction.

• Purchase APR: The amount charged on the balance of purchases you carry month to month
• Balance transfer APR: The amount charged on balances you transfer from other credit cards
• Cash advance APR: The amount charged on the balance you withdraw from your card as cash
• Penalty APR: The amount charged on the balance after a late payment or if a payment is returned¹

It’s worth noting that there are ways to avoid interest on your credit card, like paying the balance due on time and taking advantage of low introductory APR offers.

Factors that may affect your APR

There are several factors that can impact the APR you’ll receive if approved for the Costco Anywhere Visa^® Card.

• Payment history: A history of timely payments may help you qualify for a more favorable APR
• Credit utilization: Credit utilization is the amount of available credit you use compared to your total available credit. Keeping utilization lower may result in a more favorable APR.
• Income: A higher income and lower debt-to-income (DTI) ratio may reflect positively on you as a borrower and potentially result in a lower APR
• Broader economic conditions: If interest rates go up or down, it can affect your APR

How to apply for the Costco Anywhere Visa^® Card by Citi

To apply, gather your active Costco membership ID and personal and financial information, including your Social Security number (SSN), annual income and monthly rent or mortgage payments.

There are three ways to apply for the Costco Anywhere Visa^® Card by Citi.

• In-person: Apply at the membership desk of a Costco warehouse
• Online: Apply online and get a response in under a minute
• Over the phone: Call 1-800-259-3052 to apply

If you’re approved for the Costco Anywhere Visa^® Card by Citi, you’ll receive the card’s APR upon approval along with your credit limit.

¹Important Pricing & Information

Disclosure: This article is for educational purposes. It is not intended to provide legal, investment, or financial advice and is not a substitute for professional advice. It does not indicate the availability of any Citi product or service. For advice about your specific circumstances, you should consult a qualified professional.