Right now if you make a $250 or more purchase at Costco.com you can receive a $50 back in a statement credit. And the best thing is that it should work for Costco gift cards! Or really any other discounted gift cards that you might find at Costco. 
All you have to do is use Visa Checkout as your form of payment and within 6-8 weeks (although I assume quicker), you’ll see the $50 credit on your account. If you do not already have a Visa Checkout account it just takes a few minutes to create one and you can do so directly on this Costco site. The one caveat is that you must pay with a Visa credit card through Visa checkout (sometimes promotions do not require this, but for this promotion using a Visa is required). This is a great opportunity to save money, but it only lasts through March 28, 2018.
I personally purchased a $200 and $50 Costco cash card (in a single transaction since the terms require it). I shop at Costco quite often so I can easily use the cash cards within the next few weeks during my next shopping trip there. The entire process took me less then a minute and I am quite happy to save $50 at Costco!
HT: Dan’s Deals
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“Offer no longer available”. 🙁
NO LONGER Available as of March 27 at 909am/PST.
Slickdeals had a long thread where people claimed they talked to visa checkout customer service and the deal was dead at 310pm on 3/26.
However the Costco page did not not say the deal was no longer available until late in the evening of the 26h or early in the morning of 3/27. I clicked through my notification email at 5pm, still saw the banner (which I confirmed was changed much later) and went ahead and bought (2) $125 gift cards since I shop there anyway.
Sounds like we might see a repeat of the Wyndham/Visa Checkout issue. Though Costco has very good Customer Service, and Wyndham did go ahead and add points after the fact… eventually. But we’ll see if the weak link is Visa Checkout.
Which statement will the credit show up on? Made a purchase yesterday with VISA checkout and could not tell if I got the offer or not.