Joint Costco memberships: Can we also share the Costco Citi card?

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Dear Cashing In,

Does the Costco Card by Citi allow for two people to be on the same account? My fiance and I are on the same Costco membership, but we are very interested in the credit card as well. We would each like to have our own credit card but keep it under the same account. Is this possible? Or do we have to have separate credit card accounts if we move forward? – Jordan

Dear Jordan,

The Costco Anywhere Visa® Card by Citi is a great choice if you and your fiance consistently shop at Costco. Unlike most retail cards, not just anybody can apply for it. It is open only to Costco members, and memberships at the warehouse club start at $60 a year.

While it is possible to share an account, it’s best to be mindful of what that will entail.

Check out all the answers from our credit card experts.

Ask Tony a question.

See related: Costco Anywhere Visa is popular, but is it worth it?

Earning potential

The Costco Anywhere Visa excels as a card primarily used for gas purchases, but club members can find value in other rewards as well. And since Costco shoppers already pay for an annual membership, the card itself has no annual fee.

It earns:

• 4% back on eligible gas purchases, including gas at Costco (on up to $7,000 in charges per year, then 1% thereafter)
• 3% back on restaurant and travel purchases
• 2% back on Costco purchases
• 1% back on everything else

Costco members justify the $60 annual membership fee by buying their necessities in bulk. And the rewards on the Costco Anywhere Visa are a nice extra. However, there is one caveat: You only get cash back once a year, as a certificate, in February. You must also redeem the certificate at Costco and it expires Dec. 31 of the same year.

Become an authorized user

It’s understandable that you and your fiance would want the ability to take advantage of the card’s rewards. And the simplicity of paying a single credit card bill each month could be beneficial.

It is possible for you both to have a credit card under a single account. One of you would need to be added as an authorized user at the time of application. You can also wait and do so after you have the card. If one of you has better credit than the other – and you’re worried about approval odds – it might be best that the person with the better credit apply.

To add someone as an authorized user after the fact, log in to your Citi credit card account online, select the “account management” tab, click “services” from the menu on the left side of your screen and you’ll see the option to add or manage authorized users on the account.

You’ll need to know the person’s full name, date of birth and Social Security number. You can also do this over the phone and you can cancel the authorized user’s card at any time.

Be mindful

Authorized users have their own cards issued in their names, but their charges go onto your account. As the primary account holder, you are responsible for any charges the authorized user makes.

In other words, if your fiance is the authorized user and goes overboard at Costco – and brings back a 70-inch TV and $1,000 worth of printer ink – and you can’t pay the bill, it’s your credit record that suffers.

For this reason, adding authorized users is sometimes not advisable – especially if you are adding someone who has not demonstrated responsible use of credit.

With this in mind, having both of you charging and earning cash back at Costco (and everywhere else) can be a smart way to ramp up your rewards. Good luck!