This Is the Credit Card I Expect to Use the Most in 2024

Like many consumers, I have more than one credit card in my wallet. And the different cards I have sometimes serve specific purposes.

One of my cards, for example, is a store-branded bank card. This means I can use it outside of the store it's associated with, but I also get 5% back on my store purchases. So when I'm shopping at that retailer specifically, that card makes sense to swipe.

But of my various credit cards, there's one card I expect to use the most this year, and it's the Costco Anywhere Visa® Card by Citi. Not only does the card's cash back offering work well for me based on my spending habits, but I happen to be a big fan of the way the card pays its rewards.

Plenty of perks for me to enjoy

Since I shop at Costco weekly, the Costco Anywhere Visa® Card by Citi is a card I use quite regularly. I like the fact that I get 2% cash back on all Costco purchases. Combined with my Executive membership at Costco, that gives me 4% back on the items I'm buying at the store or Costco.com.

The Costco Anywhere Visa® Card by Citi also gives me 4% back at the pump. These days, I find that I'm constantly driving my kids all over town, whether it's to soccer games, piano lessons, or birthday parties. So being able to snag extra cash back for filling my tank is helpful.

But it's not just the amount of cash back I get from the Costco Anywhere Visa® Card by Citi that makes me a fan of the card. A big reason I tend to use it a lot, and expect to use it the most this year, is that I like the card's method of paying rewards.

When your payout comes once a year

Some credit cards let you cash out your reward points or take your cash back every month. And then there are those like the Prime Visa that give you almost instant access to your rewards -- you don't even have to wait until the next billing cycle.

The Costco Anywhere Visa® Card by Citi lets you accumulate cash back and gives you a rewards certificate once a year that you can redeem for cash at your local Costco. And that's why I like to charge my general expenses on this card.

I don't want to be tempted to take my $50 cash back here or $70 cash back there on a month-to-month basis, because if I do, I'm likely to spend that money on unimportant things. I'm at a stage in my life where an extra $50 isn't going to make a huge difference in my finances, so I'm apt to take that sort of payout and treat my family to dinner at a restaurant. But that's actually not a good thing.

Letting my cash back accrue is a smart move

Letting that cash back accrue is a much better route for me because then I can use the money for a bigger purchase or experience that offers more value.

Let's say I'm able to accumulate $1,200 in cash back during 2024. This is a reasonable assumption based on my spending.

That $1,200 could pay for a TV upgrade (something we've been thinking about), new bedroom furniture for my kids (which they could use), or a fun weekend getaway that allows my family to make memories. So I specifically intend to use my Costco Visa Card knowing I'll have to wait to get my cash back in one lump sum.

Chances are, you have multiple credit cards in your collection, and different cards might offer value in different ways. But if you have a card that offers a generous amount of cash back, you may want to consider banking that money for a big purchase or goal rather than spending it every month.

Of course, if you're short on cash and need that money on a month-to-month basis to make sure your bills are paid, then by all means, don't wait if your credit card company doesn't force you to. But otherwise, you may want to consider a once-a-year payday like the Costco Anywhere Visa® Card by Citi.