Verdict: The TrueEarnings® Card from Costco and American Express is an excellent cash back credit card for people who want to be rewarded on every purchase that they make. It is essentially two cards in one because it is not just a cash back credit card by American Express – It is also a Costco membership card . However, for those who don’t shop at Costco, there are better cards on the market like Blue Cash.

The TrueEarnings Card from Costco and American Express is a cash back credit card that doubles as a Costco warehouse club membership card. It rewards the consumer for every purchase made and the more that they spend, the more that they can earn with this card. Costco membership allows all of your shopping to be done in one convenient store. Name brand, quality merchandise at the lowest price possible is combined with 1 to 3 percent cash back on all purchases, making the TrueEarnings Card an excellent credit card to carry.

When you use your TrueEarnings® Card from Costco and American Express for gasoline purchases, you will earn 3% cash back (up to a $3,000 annual limit). Cash back of 2% will be earned when you use this credit card for travel and/or dining purposes. One percent cash back is offered for all other purchases – including gasoline purchases that exceed $3,000 in a given year.

There are personal and business versions of this credit card that have a small amount of differences, although they are both available to earn cash back rewards. The business card has a higher percentage of cash back rewards, customized statements, additional employee cards and an OPEN savings to save on expenses with big companies like FedEx, Hyatt and Delta.

Each of the eligible purchases with the TrueEarnings Card from Costco and American Express will qualify for a rebate that depends upon the type of purchase. A rebate of one, two or three percent will be earned on items that you buy. As mentioned, gasoline purchases from domestic gas stations will receive 3%. Dining and travel expenses that are made with the TrueEarnings Card will earn 2% . All other purchases will earn 1 percent. Rebates are annually rewarded as a coupon that can be used to buy merchandise at a Costco Warehouse or to be redeemed for cash.

There is no limit to the cash back rebates that you can earn when you use the TrueEarnings Card from Costco and American Express. You can earn as much as you want on all of the purchases that you make every day. Costco is a well known warehouse club that has specialty departments and services with great prices. When you pay your membership fee and get your picture taken and placed on the TrueEarnings Card from Costco and American Express, it now becomes your membership card. The membership fee takes the place of any annual fee for the credit card that you will ever be charged.

When you travel, there are numerous benefits included with this TrueEarnings Card like emergency check-in. If you happen to lose your card, it will allow you to check-in and your card will be charged. By using American Express Online Travel, you can book air, cruises, car rentals and hotel accommodations at the very lowest and competitive prices available. Plus, you will be covered by travel accident insurance of up to $100,000 for dismemberment and accidental death insurance.

Other travel benefits that are offered with this card include the following:

24/7 Emergency Hotline: For financial, medical, legal or other assistance when you are over 100 miles from home.

Purchase Protection: The TrueEarnings Card offers a warranty of up to 1 additional year on warranties of 5 years or less. Coverage is also available for damaged items up to the amount charged on the card. Additionally, customers are not held liable for fraudulent charges on this card.

The fees that are associated with the TrueEarnings Card from Costco and American Express are minimal. There are no annual fees as long as your Costco membership is paid. For a complete list of updated rates and fees check the card website before you apply.

TrueEarnings vs American Express Blue Cash

The American Express Blue Cash card has a similar cash back rewards program. The Blue Cash Card offers 3 percent cash back at supermarkets, 2 percent cash back at gas stations and department stores and 1 percent cash back on all other purchases. Most of the other rewards are very similar to those of the TrueEarnings Card. The fees are also very similar. Neither card has an annual fee.

Deciding which card is better is virtually a toss-up. The Blue Cash Card has a better introductory APR in that it lasts longer, but the cards are very similar otherwise. The TrueEarnings Card has the added advantage of a Costco membership, which could be handy if you can take advantage of the deals that Costco offers. Of course, you could get this membership separately and still use the Blue Cash Card. Overall, the Blue Cash Card is a slightly better bet, but don’t lose sleep if you’ve already chosen the TrueEarnings Card.

TrueEarnings vs Chase Freedom

The Chase Freedom Card currently comes with a $200 cash back offer after $500 is placed on the card as long as it’s done within 3 months. It’s fees are similar to the TrueEarnings Card. It also offers 5 percent cash back on rotating categories, 2 percent cash back on airfare purchases that are made through Chase and 1 percent cash back on all other purchases.

If you’re willing to keep up with the rotating categories, the Chase Freedom card is a better bet than the TrueEarnings Card. The potential for 5 percent back on your purchases is a key difference between the 2 cards. The TrueEarnings card has the advantage of also serving as a Costco membership card, but that can be obtained separately if you choose to use the Chase Freedom Card instead.

Pros:

• 3% cash back on gasoline purchases
• 2% cash back on travel and dining
• 1% cash back on everything else that you purchase with the credit card
• Rebates are annually rewarded as a coupon that can be used to buy merchandise at a Costco Warehouse or to be redeemed for cash
• No limit to the amount of cash back rewards that can be earned

Cons:

• The annual rebates must be used by the expiration date that is listed on them or forfeited
• Monthly credit review could cause a higher APR and will last for 12 months

Apply for the TrueEarnings® Card from Costco and American Express.