Benefits of the Citi Costco Credit Card

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If you have a Costco membership, you can apply for the Costco Anywhere Visa® Card by Citi, a card with rewards as rich as the store’s baked goods department.

While a store membership will run you at least $60 a year, the annual fee for the card is $0, and frequent shoppers should have no trouble racking up cash-back rewards.

Here are the benefits of the Costco Anywhere Visa® Card by Citi.

High rewards rates

Citibank Costco-Anywhere Visa Card Credit Card

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The Costco Anywhere Visa® Card by Citi earns an impressive 4% cash back on gas purchases (at Costco or elsewhere) on up to $7,000 of spending a year. That translates to $280 back a year if you hit that limit. (After $7,000 in spending, the rewards rate goes down to 1%.) The card also earns 3% cash back on restaurants and most travel purchases, 2% back at Costco and, and 1% back on all other purchases.

Useful redemption options

Every year at the closing of the February billing statement, cardholders receive their cash-back reward certificate. That certificate can then be redeemed at physical Costco stores anytime before the end of the year, in exchange for either cash back or merchandise. So if you’ve been saving up for a big-ticket item, you can put that rewards certificate toward it.

Travel perks

The Costco Anywhere Visa® Card by Citi is a good one to bring on trips: It comes with trip cancellation protection, travel and emergency assistance, worldwide travel accident insurance, and no foreign transaction fees. And you continue earning rewards whether you’re on the road at home or overseas.

Universal acceptance

As the card name implies, you can use this card well beyond the confines of Costco — it is accepted anywhere that Visa is. That makes it even easier to collect more cash back.

More about the card

This article originally appeared on NerdWallet