If you cancel your Costco membership, your Costco Citi card will also be canceled. The Costco Anywhere Visa® Card by Citi is exclusively for Costco members, and canceling your membership means you no longer have access to the benefits and services associated with the warehouse club, including use of the credit card.
Key Things to Know About Canceling Your Costco Membership
- Once your membership is canceled, you’ll be notified that your Costco Credit Card will also be canceled.
- Costco will refund your current year’s membership fee in full, regardless of when you cancel your membership.
- If you’ve already received a Costco rewards certificate, you can still redeem the certificate for cash or merchandise at the store’s front-end registers by December 31 of the year the certificate was issued.
- Any cash back rewards earned but not yet distributed as a rewards certificate will be forfeited.
Bear in mind that canceling a credit card, whether it’s done by you or the issuer, can affect your credit score, depending on how long you’ve had the card and how much other available credit you have. For example, closing an older credit card will reduce the average age of all your open accounts. Your overall credit utilization may also increase since you’ll now have less available credit.
You can use our credit score simulator to gauge the effect canceling a credit card will have on your credit score.
This answer was last updated on 06/07/24 and it was first published on 02/04/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
