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Does Costco Offer Payment Plans?

A popular question regarding Costco is, do they offer payment plans for larger payments? Many large stores offer layaway plans whereby the customer pays a small deposit and pays off the item over an agreed time.

However, Costco does not offer such a plan. Nonetheless, Costco members can apply for a co-branded credit card by Citibank called the Costco Anywhere Visa Card by Citi. Costco customers can utilize the card to make larger purchases and take advantage of cash back rewards,   and bonuses as well as a manageable monthly payment plan. 

What Does the Costco Anywhere Visa Card Offer?

When you spend using the Costco Anywhere Visa Card by Citi, you earn up to 4%in cash back rewards and bonuses. Only Costco members are eligible to apply for the card, and all cardholders pay zero annual fees.

Cash Back Rewards 

When you use your Costco Visa Card, you can take advantage of the following rewards: 

  • 4% cash back on gas station purchases globally (anywhere that displays the Visa logo).
    • This cash back reward also applies when you purchase gas from Costco stations.
    • This percentage applies to the first $7,000 you spend in a year.
  • 3% cash back when you use your credit card at certain restaurants and travel destinations. 
  • 2% cash back when you buy anything from Costco using your Costco Visa card. 
  • 1% cash back when you use your Visa card anywhere else.

Costco Visa cardholders can use their credit card as a substitute for their Costco Membership card. Cash back rewards can be used to purchase items from Costco or customers can redeem cash at the end of the year. 

Protection When You Purchase 

The Anywhere Visa Card provides customers with a purchase protection guarantee. For example, if you purchased an item using your Costco Visa Card and the item turned out to be faulty, or it got stolen or damaged, you can apply for a refund if the item was stolen or damaged in the first 120 days after purchase.

Extended Warranty 

If you purchase an item that comes with a standard manufactures warranty, the Costco Visa Card will automatically extend that warranty for you.

Additional Benefits 

When you hold a Costco Anywhere Visa card, you get exclusive access to acquire tickets for several events such as concerts, theater shows, and special events.  

Pricing Information 

The Costco Anywhere Visa Card offers a typical APR of 15.24%, this APR will also apply to balance transfers. For cash advances, expect a typical APR of 25.24% and for late payments, expect an APR of 29.99%. There is no annual fee associated with having a Costco Visa card. 


To conclude, although Costco does not specifically offer payment plans for large purposes. Costco members can take advantage of this credit card to make purchases that they might not have been able to afford otherwise. The Anywhere Costco Visa Card offers a competitive APR variable as well as cash back rewards and bonuses. The card can be used globally, anywhere that accepts Visa cards, you can collect cash back rewards and redeem them at the end of the year for cash or Costco in-store purchases.

If you are a Costco member and you already have a credit card or low-cost bank overdraft, you could utilize these financial services to purchase high ticket items and take advantage of the benefits of spreading the cost over a specific time. 

Image by Henry & Co.

Post Author: Lillia Hall

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June 2024