Say goodbye to an important cardholder benefit.
- The Costco Anywhere Visa® Card from Citi offers many benefits.
- Its free extended warranty is about to expire.
- Purchases made next year will not benefit from this additional protection.
The Costco Anywhere Visa® Card from Citi is a popular credit card among Costco shoppers who want a card they can use for both warehouse club purchases and to earn rewards when shopping elsewhere. The card offers many benefits, including a generous cash back program when shopping at Costco.
Unfortunately, a major advantage associated with this card will soon disappear. And cardholders should be aware of this significant change so they don’t expect their credit card to provide protection that it simply won’t make available in the future.
This big change to Costco’s credit card could be costly for consumers
One of the best features of the Citi Costco Anywhere Visa® Card has long been its extended warranty protection.
Cardholders who purchased eligible items on their card would get a whopping 24 months added to their manufacturer’s warranty, up to a maximum of seven years of total protection. The warranty provided up to $10,000 of coverage per claim and reimbursed the lesser of that amount or the cost to repair or replace the covered item.
This extended warranty protection was completely free to cardholders and it meant that those who purchased electronics, appliances or many other items on their card would enjoy purchase protection for a much longer period than that guaranteed by the manufacturer. This could help cardholders avoid major expenses when items break after just a few years.
With that protection gone, cardholders will now have to go without coverage once the manufacturer’s warranty has ended or have to pay extra for third-party warranty service if one is available.
This disturbing news was announced to cardholders via mail, as well as via a pop-up message on your card’s benefits page when you log into your online account.
What does this mean for cardholders?
Extended warranty protections on the Citi Costco Anywhere Visa® Card will end for new purchases made on or after January 22, 2023.
This means that if you purchase items on your card before that date, the extended warranty will still apply and you will receive the coverage you have always had as a cardholder.
The two-year extended warranty period will still apply in full to all such prior purchases before the deadline. So, for example, if you purchased an item with a two-year manufacturer’s warranty in 2021, your Costco warranty will be in place for 24 months after those two years expire, so until 2025. Your Claims Process will not be affected. in any way by change.
However, all purchases made on or after January 22, 2023 will no longer have this warranty protection. This applies to both Citi’s standard Costco Anywhere Visa® card as well as the business version of this card.
While Citi’s Costco Anywhere Visa® Card is always worth a place in your wallet because of the other benefits it offers, you should remember that you can’t rely on warranty protection for purchases from the start. next year – so if this feature is important to you, you may need to shop around for another card that offers it.
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