Here’s a summary of the key information from the provided text:
* Increased Cashback: costco has increased the cashback rate on gas purchased at Costco stations to 5% for Costco Anywhere Visa Card by Citi holders. The rate for gas purchased elsewhere remains at 4%.
* When it Happened: the change took effect in January 2025, but might potentially be gaining attention now with the upcoming rewards distribution.
* Rewards Distribution: Cashback is issued as Costco Cash Rewards with the February billing statement.Rewards of $300+ can be directly deposited, while those under $300 must be redeemed at Costco.
* Spending Cap: The 5% cashback applies to the first $7,000 spent per year on gas and EV charging. After that,the rate drops to 1%.
* potential savings: Consumers coudl earn up to $350 cashback annually on Costco gas (compared to $280 previously) if they spend $7,000 using the Citi card.
* why the Change? The article doesn’t explicitly state why Costco made the change, but implies it may be to attract more card usage and highlight the card’s benefits. It also notes the change wasn’t heavily advertised initially.
