Chase Sapphire Preferred or Costco Anywhere Visa? Here’s What Most Reviews Won’t Tell You
You’re not just choosing a credit card; you’re choosing a lifestyle. Whether you’re an adventure-seeking traveler or a bulk-buying family planner, the Chase Sapphire Preferred and the Costco Anywhere Visa have got you covered. Let’s break down which card suits your needs best.
| Feature | Chase Sapphire Preferred | Costco Anywhere Visa |
|---|---|---|
| Annual Fee | $95 | $0 with Costco Membership |
| Travel Rewards Rate | 2x points | 3% cashback on travel |
| Dining Rewards Rate | 3x points | 3% cashback |
| Gas Rewards Rate | 1x points | 4% cashback |
| Foreign Transaction Fees | ✗ | ✗ |
| Introductory Offer | 60,000 points | ✗ |
✅ chase sapphire preferred Pros
- Generous introductory bonus of 60,000 points.
- No foreign transaction fees, perfect for travelers.
- 3x points on dining, great for foodies.
❌ chase sapphire preferred Cons
- $95 annual fee.
- Lower rewards on gas and groceries.
✅ costco anywhere visa Pros
- No annual fee with a Costco membership.
- 4% cashback on gas, a win for commuters.
- 3% cashback on dining and travel.
❌ costco anywhere visa Cons
- Requires Costco membership.
- No introductory offer.
Performance: Travel and Dining Rewards
When it comes to dining and travel rewards, the Chase Sapphire Preferred is a heavy hitter. With 3x points on dining and 2x on travel, it caters to those who love to eat out and explore the world. Meanwhile, the Costco Anywhere Visa offers a solid 3% cashback on both categories. If you’re not a frequent traveler, the difference might not be significant. But for those who rack up dining experiences and travel miles, the Sapphire Preferred edges out with its points system that can be worth more when redeemed for travel through Chase Ultimate Rewards.
Build Quality: Foreign Transaction Fees
Both cards waive foreign transaction fees, making them excellent for international use. However, the Chase Sapphire Preferred’s global acceptance and travel-centric perks like trip cancellation insurance and baggage delay coverage make it more robust for overseas adventures. The Costco Anywhere Visa, while still a good option, primarily shines domestically with its gas and Costco-specific rewards structure. If your travels often take you beyond borders, Sapphire Preferred’s lack of foreign fees and travel protections are hard to beat.
Value: Annual Fees and Membership Requirements
The Costco Anywhere Visa has a clear advantage if you’re already a Costco member, as it carries no additional annual fee. However, non-members miss out entirely. On the other hand, the Chase Sapphire Preferred does have a $95 annual fee, but the benefits can outweigh this cost, especially with the 60,000 point sign-up bonus. If you’re a savvy points maximizer, the $95 might feel negligible compared to the potential rewards. But for a no-frills, fee-free approach, the Costco card is a straightforward winner if you frequent their warehouses.
Both cards have their quirks. The Chase Sapphire Preferred’s annual fee is offset by its travel perks, but only if you actually use them. Meanwhile, the Costco Anywhere Visa’s benefits hinge on your Costco shopping habits. If your nearest Costco is miles away, the card’s main perk could become a moot point.
Our Final Verdict: Which One Should You Buy?
The Chase Sapphire Preferred is ideal for those who travel frequently and dine out often, willing to pay a $95 annual fee for superior travel benefits and a hefty sign-up bonus. If you’re a Costco regular, the Costco Anywhere Visa is a no-brainer, offering excellent gas and dining cashback with no additional fee beyond your Costco membership. Choose based on your lifestyle and spending habits.
Do I need to be a Costco member to apply for the Costco Anywhere Visa?
Yes, a valid Costco membership is required to apply for and use the Costco Anywhere Visa.
Is the Chase Sapphire Preferred’s annual fee worth it?
If you utilize the travel and dining rewards, the annual fee can easily be offset by the benefits, especially with the sign-up bonus.
Can I use either card internationally without extra fees?
Yes, both cards do not charge foreign transaction fees, making them suitable for international use.
