Costco vs Alaska Credit Card: Which One Earns More?

One of these cards pays you cash back at the gas pump and the warehouse. The other gives you a yearly companion fare that can be worth hundreds on a flight. The Costco Anywhere Visa by Citi and the Alaska Airlines Visa by Bank of America serve very different goals, so the right pick depends entirely on how you spend and travel. Here is the full comparison as of June 2026.

Key Facts at a Glance

Terms and conditions apply. APRs vary by creditworthiness.

How the Rewards Work

The Costco Anywhere Visa is a cash back card built around the warehouse lifestyle. It earns 4% on eligible gas and EV charging on the first $7,000 per year (then 1%), 3% on restaurants and eligible travel, 2% on purchases at Costco and Costco.com, and 1% on everything else. The catch: rewards come once a year as a single certificate redeemable at Costco.

The Alaska Airlines Visa earns miles instead of cash. You collect miles on Alaska purchases and everyday spending, and miles are redeemable for flights across Alaska and its partners. The real draw is the annual companion fare, which lets you book a second ticket for a low flat fee plus taxes after meeting a yearly spending threshold.

Fees and APR

The Costco card charges no annual fee, but you must hold a Costco membership, which starts at $65 a year for Gold Star. Its purchase APR runs 18.74% to 26.74% variable.

The Alaska card charges a $95 annual fee, with a purchase APR of 19.49% to 27.49% variable. That fee is easy to justify if you use the companion fare, since a single use often saves more than $95. If you rarely fly Alaska, the fee is harder to recover. APRs vary by creditworthiness on both cards.

Welcome Bonus and Perks

The Costco Anywhere Visa has no welcome bonus, which is unusual but consistent with its no-frills design.

The Alaska Airlines Visa regularly runs sign-up offers combining bonus miles with the companion fare after you spend a set amount in the first few months. Cardholders also get a free checked bag, priority boarding, and 20% back on inflight purchases. Confirm the live offer on the application, since Bank of America changes it often.

Who Each Card Fits

Choose the Costco Anywhere Visa if you are already a Costco member who spends heavily on gas, dining, and warehouse runs, and you prefer straightforward cash back with no annual fee beyond membership.

Choose the Alaska Airlines Visa if you fly Alaska even a couple of times a year, because the companion fare and free checked bag can outweigh the $95 fee quickly. If you neither shop at Costco nor fly Alaska, a flat-rate cash back card may serve you better than either.

Strong Alternatives Worth a Look

If you want everyday rewards without a membership requirement or an airline tie-in, a few cards stand out for good-credit shoppers. The Robinhood Gold Card is the top pick for premium readers: it pays a flat 3% cash back on all purchases, which can beat both cards on spending outside their bonus categories if you qualify for Robinhood Gold.

The Aspire Mastercard offers clean cash back on everyday purchases with a simpler structure, useful if you would rather not track caps or annual certificates.

The Perpay Credit Card pairs spending with a structured payment approach that can help you build credit history alongside everyday use.

What Users Commonly Report

Costco cardholders often like the strong gas and dining rates but mention two friction points: the rewards arrive only once a year as a Costco certificate, and you need an active membership to use them. Alaska cardholders frequently say the companion fare alone pays for the annual fee, though some note the value depends on flying Alaska routes. A common theme across both: these cards reward a specific lifestyle, so they underperform for people whose spending does not match their bonus categories.

Frequently Asked Questions

Do I need a Costco membership to use the Costco Anywhere Visa?

Yes. The card is tied to your Costco membership, which starts at $65 a year for a Gold Star membership. If you cancel your membership, you lose the card and your ability to redeem the annual cash back certificate.

Is the Alaska Airlines Visa worth the $95 annual fee?

It can be, mainly because of the annual companion fare. A single use on a moderately priced round trip often saves more than $95, and the free checked bag adds value if you fly Alaska a few times a year.

Which card earns more cash back?

The Costco card earns cash back; the Alaska card earns airline miles, so it is not a direct comparison. For pure cash back on gas and dining, the Costco card wins. For travel value on Alaska flights, the Alaska card wins.

What credit score do these cards require?

The Costco Anywhere Visa typically calls for excellent credit, often around 720 or higher. The Alaska Airlines Visa generally looks for good to excellent credit, roughly the ~700 to 740 range. Both issuers review your full financial profile.