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 actually sort of like two cards in one, because it is not just a cash back credit card by American Express, it is also a Costco membership card that earns 2% cash back, as well.

Overview:

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 ñ 3% cash back on gas, restaurant and travel rewards make this TrueEarnings Card an excellent credit card to carry.

How This Card Works:

When you use your TrueEarnings Card from Costco and American Express for everyday items like gasoline purchases and eating out at restaurants you will earn 3% cash back rewards for each of these types of purchases. Cash back of 2% will be earned when you use this credit card for travel purposes and 1% cash back will be earned on everything else that you purchase, even things in the Costco store.

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.

Travel and Shopping Benefits:

Each of the eligible purchases with the TrueEarnings Card from Costco and American Express will qualify for a rebate depending upon the type of purchase. A rebate of one, two or three percent will be earned on items that you buy. Gasoline purchases from domestic service stations and at Costco Gasoline, as well as dining purchases in restaurants will receive 3% and travel needs that are purchased with the TrueEarnings Card will earn 2% and these things include airline, car rental, lodging and cruise line expenditures. 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 ever lose your card, it will allow you to go ahead and check in with the card account to 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.

Fees:

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.

The TrueEarnings Card from Costco and American Express allows the card holder to pay their balance in full or to pay the balance over time. There is a 20 day grace period for this card, if the minimum amount listed on the statement is paid by the date shown. Otherwise, the late fee will be between $15 and $39, depending on the balance amount.

There are a few other fees and finance charges that are associated with this credit card and they are as follows: $38 for a bad check, $15 for wire transfers, $29 if you ever need to place a stop payment and a statement copy fee of $5.

Pros:

• 3% cash back on gasoline purchases and dining at restaurants.
• 2% cash back on travel, including airline, car rental, lodging and cruise line expenditures.
• 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.
• 0% APR for the first six months on purchases.

Cons:

• You cannot apply for this card unless you are a member in good standing.
• The annual rebates must be used by the expiration date that is listed on them or forfeit.
• Monthly credit review could cause a higher APR and will last for 12 months.

Apply for the TrueEarnings Card from Costco and American Express.

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