Skip to content

Citi Costco Visa cardholders: You're losing extended warranty protection in January 2023

Nov. 08, 2022
4 min read
This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.

Citi is a TPG advertising partner.

If you have a Costco credit card from Citi, we have some unwelcome news to report. I — along with other cardholders — received a notice that Citi is removing the extended warranty benefit from these credit cards in early 2023.

Here's a look at what's happening with the extended warranty protection offered on Citi's Costco credit cards and how this change might affect you.

What is extended warranty protection?

Extended warranty protection adds time to a qualifying warranty, giving you more time to enjoy protection on your valuable purchases. This benefit can help to cover the costs of repairing or replacing an item when you've purchased it with a credit card that offers extended warranty protection. Depending on the card you use, you can add an extra year or two to the length of your warranty.

TOA55/GETTY IMAGES

Presently, both the Costco Anywhere Visa® Card by Citi and Costco Anywhere Visa® Business Card by Citi offers extended warranty protection, adding 24 months to manufacturers' warranties — up to a seven-year total coverage limit. There's a maximum of $10,000 per claim, reimbursing up to this amount or the cost to repair or replace an item — whichever is less.

Related: How an often overlooked credit card benefit put $1,400 back in my wallet

It's important to note that most extended warranty benefits don't cover things like boats, housing or antiques. Coverage extends only to the purchased item, not anything that becomes damaged when this item stops working. For example: If you had a laptop covered by the extended warranty protection, you couldn't file a claim for a desk that was burned when your laptop's battery overheated — unless you also purchased that desk with a credit card offering extended warranty protection.

When does extended warranty protection end?

Many Citi Costco Visa cardholders received notice recently that their cards are losing the extended warranty protection as of Jan. 22, 2023. Even if you haven't received this notice in the mail, this change still applies to you.

If you haven't received a notice from Citi, there's still a way to find it online. When logging in to your Citi account and navigating to the card benefits page, click on your Costco credit card. You'll then receive this pop-up message:

Sign up for our daily newsletter
A pop-up window provides notification about the extended warranty changes. CITI.COM

You'll also notice that the left side of the image above shows two different benefits guides for cardholders: one that's effective now through Jan. 22, 2023, and another guide that takes effect on that date. And while the notice I received in the mail and on Citi's website mentioned only my Costco Anywhere Visa card, a spokesperson for Citi confirmed this benefit will also be removed from the Costco Anywhere Visa Business card.

This move follows Citi removing nearly all shopping and travel protections from its credit cards in 2019. Extended warranty protection was one of the few benefits that survived these cuts in 2019 — and even then only survived on some credit cards.

How your existing coverage is affected

If you have made purchases with your Costco credit card, your extended warranty protection is not affected. Until Jan. 22, 2023, when this benefit is removed, all purchases will continue to be covered as they have been until now.

On Jan. 22, 2023, new purchases will stop receiving extended warranty protection. However, if you used your Costco credit card to make an eligible purchase in 2020, for example, your extended warranty benefit on previous purchases will not be affected. You will continue to receive an additional 24 months on top of the manufacturer's warranty — up to a maximum coverage period of seven years from the date of purchase.

Related: The best credit cards for extended warranties

For covered purchases, the claims process will not be affected even after new purchases stop receiving extended warranty protection.

Bottom line

Citi's credit cards lack many of the travel and shopping protections available from other issuers. What few benefits survived the massive cuts we saw in 2019 will be further reduced on Jan. 22, 2023, when the Costco Anywhere Visa and Costco Anywhere Visa Business lose extended warranty protections.

On Jan. 22, 2023, we'll check Citi's credit card benefits to see if any other cardholder perks have disappeared and will provide updates if needed.

Featured image by STEVE PROEHL/GETTY IMAGES
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Top offers from our partners

How we chose these cards

Our points-obsessed staff uses a plethora of credit cards on a daily basis. If anyone on our team wouldn’t recommend it to a friend or a family member, we wouldn’t recommend it on The Points Guy either. Our opinions are our own, and have not been reviewed, approved, or endorsed by our advertising partners.
See all best card offers

TPG featured card

Best card for premium perks while traveling
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4 / 5
Go to review

Rewards

2 - 10X points
10XEarn unlimited 10X miles on hotels and rental cars booked through Capital One Travel
5X5X miles on flights booked through Capital One Travel.
2X2 Miles per dollar on every purchase, every day

Intro offer

75,000 bonus miles
Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel

Annual Fee

$395

Recommended Credit

740-850
Excellent
Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Why We Chose It

The Capital One Venture X card is one of the best all-round travel credit cards ever launched. Not only is it offering a tremendous welcome bonus, but cardholders can earn tons of miles on everyday spending and receive a 10,000-mile anniversary bonus to boot. Its annual fee is $395, but cardholders can count on up to $300 in statement credits toward travel booked through Capital One Travel each year and other valuable benefits like access to Priority Pass lounges and Capital One’s own growing family of airport lounges.

Pros

  • Excellent welcome offer worth 75,000 miles after you spend $4,000 on purchases in the first three months.
  • Up to $300 in annual travel statement credits toward bookings make through Capital One Travel.
  • 10,000 bonus miles (worth $100 toward travel) each account anniversary.

Cons

  • The $395 annual fee might be expensive for some, but this card’s benefits provide much more value than that.
  • If you don’t travel frequently, this might not be the best card for you.
  • Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
  • Receive up to $300 back annually as statement credits for bookings through Capital One Travel, where you'll get Capital One's best prices on thousands of options
  • Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary
  • Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights booked through Capital One Travel
  • Earn unlimited 2X miles on all other purchases
  • Unlimited complimentary access for you and two guests to 1,400+ lounges, including Capital One Lounges and our Partner Lounge Network
  • Receive up to a $100 credit for Global Entry or TSA PreCheck®
  • Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more—you can even transfer your miles to your choice of 15+ travel loyalty programs
  • Named editors' choice for "Best New Credit Card of 2021" by The Points Guy
  • Earn 10 miles per dollar when you book on Turo, the world's largest car sharing marketplace, through May 16, 2023
Best card for premium perks while traveling
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4 / 5
Go to review

Rewards Rate

10XEarn unlimited 10X miles on hotels and rental cars booked through Capital One Travel
5X5X miles on flights booked through Capital One Travel.
2X2 Miles per dollar on every purchase, every day
  • Intro Offer
    Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel

    75,000 bonus miles
  • Annual Fee

    $395
  • Recommended Credit
    Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

    740-850
    Excellent

Why We Chose It

The Capital One Venture X card is one of the best all-round travel credit cards ever launched. Not only is it offering a tremendous welcome bonus, but cardholders can earn tons of miles on everyday spending and receive a 10,000-mile anniversary bonus to boot. Its annual fee is $395, but cardholders can count on up to $300 in statement credits toward travel booked through Capital One Travel each year and other valuable benefits like access to Priority Pass lounges and Capital One’s own growing family of airport lounges.

Pros

  • Excellent welcome offer worth 75,000 miles after you spend $4,000 on purchases in the first three months.
  • Up to $300 in annual travel statement credits toward bookings make through Capital One Travel.
  • 10,000 bonus miles (worth $100 toward travel) each account anniversary.

Cons

  • The $395 annual fee might be expensive for some, but this card’s benefits provide much more value than that.
  • If you don’t travel frequently, this might not be the best card for you.
  • Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
  • Receive up to $300 back annually as statement credits for bookings through Capital One Travel, where you'll get Capital One's best prices on thousands of options
  • Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary
  • Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights booked through Capital One Travel
  • Earn unlimited 2X miles on all other purchases
  • Unlimited complimentary access for you and two guests to 1,400+ lounges, including Capital One Lounges and our Partner Lounge Network
  • Receive up to a $100 credit for Global Entry or TSA PreCheck®
  • Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more—you can even transfer your miles to your choice of 15+ travel loyalty programs
  • Named editors' choice for "Best New Credit Card of 2021" by The Points Guy
  • Earn 10 miles per dollar when you book on Turo, the world's largest car sharing marketplace, through May 16, 2023