Costco is a popular American retailer chain, founded in 1983, in Seattle. They operate on a membership basis and are very convenient for those buying goods in bulk. They are a multinational corporation with headquarters in Washington, United States. It is one of the biggest retailers in the world today. It employs more than two hundred thousand people. It is popular because of its great selection of high-quality products. They make most of their money from membership fees, so customers need to buy a membership that requires a fee, ranging from $60 to $120. Does Costco Do Cashback?
Cashback is offered by some sellers to consumers as a sort of incentive. When they purchase at that store, they get some reward in the form of a cashback. This reward, as the name suggests, will be in the form of cash. So if you buy something for 100 dollars, and the cashback policy is 2%, you will get two dollars back. It is a financial incentive for consumers that works similarly to discounts.
Costco does offer cashback at their stores. Cashbacks are usually linked to debit card purchases, and Costco also follows this. Costco allows for cashback up to $60 for purchases paid for with a debit card in their stores. They do not offer cashback for purchases made with credit cards, gift cards, or any other mode of payment. Another catch is that Costco only accepts cashback in their stores, not in their gas stations. Costco has a card, called the ‘’Costco Anywhere Visa ® Card’’. They offer great cashback and rewards on the usage of this card. It could benefit you if you are a regular customer at Costco.
Steps To Getting Cashback
- While making your payment at the Costco registrar, you will need to use your debit card to make the payment.
- After swiping your card, they will ask you for a preferred cashback amount. You can choose anywhere from $10 to $60.
- The amount of your bill will get updated after you select an option, as this amount will also be added.
- You can ask the cashier for specific bills if you wish. They will hand over the required amount in cash to you, and your cashback is done.
How Many Times Can I Get Cashback?
A customer can make transactions multiple times a day with no transactions and can receive a proportional amount of cashback. The one problem that could occur is the bank’s policy that could limit the number of debit card transactions undertaken in a day, or there might be a limit on the number of cash withdrawals made in a day.
Is It Applicable Everywhere?
Unlike a lot of things that take place in chain retailers, Costco’s cashback system does not vary from location to location. Every Costco store in the United States has this same policy. The standard policy followed everywhere is a maximum of $60 cashback, and only on purchases made with debit cards.
Costco Anywhere Visa ® Card
While applying for a membership at Costco, you could also opt for this card. As with a usual card, points will accumulate with each purchase you make, and you can ask for cashback based on the number of points you have. There will be no additional fees except the membership fee to get this card. Once the month is done, you will be issued your cashback. The cashback details will be mailed to you, and you can redeem them at any physical Costco warehouse. You can access the reward certificate through the Citi Mobile App, as they are partners with Costco for this card. This reward certificate expires on the last day of the year of issue. The expiry date will also be mentioned on the certificate itself, so you can refer to it if needed. You also earn a 2% reward annually, which will be sent to you by e-mail around 3 months before your membership expires.
Here are some of the benefits that come with this card:
- 4% for gasoline purchases for the first $7000 per year, and then 1% in the consequent years.
- 3% on restaurants and travel expenses.
- 2% on all purchases from Costco
- 1% on purchases made through their website, Costco.com.
Conclusion
Costco does offer cashback, only on debit cards and at their physical stores. The cashback policy is pretty straightforward, and there seem to be no inconsistencies in their policies from each location as of now. As for the Costco card, it could be a very useful and beneficial one. Every member at Costco is eligible to get the card, and there are no additional fees or anything of that sort. Especially if you regularly shop at Costco, the card would be a good thing for you to have. If you don’t, it certainly is a great incentive to start shopping at Costco. Happy Shopping!
