Citi Costco Anywhere Visa® Business Card vs. Citi Costco Anywhere Visa® Card*
The commercial version of the Costco card is almost identical to the personal version Costco Visa everywhere. They offer the same rewards structure and the same redemption limits. The main difference is that the personal version of the card allows balance transfers, unlike the business card. However, for a 3% fee, there are better options for cards offering balance transfers.
When determining which version of the card is best for you, the main factor is probably whether you plan to charge personal or business expenses on the card, as the separation of expenses can be important for tax and accounting purposes.
Opening a business card can be crucial in creating small business credit, making it a better choice if everything else is equal. Boosting your business score can eventually lead to access to loans or more favorable payment terms from suppliers or merchants. Business cards can also come with higher credit limits, as businesses may need more purchasing power for inventory or materials.
Costco Anywhere Visa® Business Card by Citi vs. American Express® Business Gold
What if you could earn four points per dollar in two categories of your choice instead of just gasoline? This is exactly what the American Express® Business Gold Card offers. Cardholders earn 4 Membership Rewards points per dollar spent in their two highest spending categories each billing cycle with options such as gas, travel, dining, shipping and more. Since categories reset every statement, you’ll always get what you pay for. Other purchases earn 1 point per dollar. The 4 points per dollar benefit applies to the first $ 150,000 of combined purchases of these 2 categories each calendar year.
American Express Membership rewards are also more flexible than Costco rewards. They can be redeemed at your convenience rather than once a year and never expire. They can be exchanged for cash, goods or transferred to travel partners.
However, you’ll only earn one point per dollar spent at warehouse clubs and, in fact, American Express isn’t even accepted at Costco. If you do big purchases there, you might be better off with the Costco Anywhere visa. In addition, the card comes with a hefty annual fee of $ 295 (see rates and fees). Do the math to see if your potential rewards are still worth it after you factor in the fees.
Citi Costco Anywhere Visa® Business Card vs. Amazon Business American Express Prime Card*
If you are not loyal to Costco, the Amazon Business Prime American Express Card offers a similar substitute. It offers 5% cash back on your first $ 120,000 of Amazon purchases each year (then 1%). The 5% earning rate extends to Amazon.com, Amazon Web Services, Amazon Go, and Whole Foods divisions. Cardholders will also have the option of forgoing the 5% earning rate in exchange for special funding options. Among all these options, many small businesses will be able to access everything they need.
The Amazon Business Prime card also offers 2% cash back at US restaurants, US gas stations, and US wireless phone services and 1% cash back on all other purchases. The Costco Card beats it on restaurants and gas (and 3% on travel), so the best card depends on the categories you’re spending in. Both cards have no annual fee as long as you are a member of their respective programs.
There is definitely more flexibility with the Amazon Business Prime card, however. Rewards can be redeemed at any time with no minimum withdrawal threshold. If you choose to cancel your Business Prime membership, you will not need to forfeit rewards. Instead, your card will be demoted to Amazon Business American Express, which earns rewards at a lower rate.