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TrueEarnings® Card from Costco and American Express Review

By Kevin
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TrueEarnings® Card from Costco and American Express

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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Comments:

Happy New Year Carnival of Family Life | Mixed Metaphor.net
December 29th, 2008 at 2:06 am

[...] Shout presents TrueEarnings Card from Costco and American Express Review at CreditShout. If you shop at Costco, there is now a credit card with which you can maximize [...]

WorldPerks Signature Visa by US Bank Review | CreditShout
April 7th, 2009 at 8:06 am

[...] Signature Visa by US Bank Review By Kevin Update: I now recommend the True Earnings Card from Costco and American Express over the WorldPerks Signature Visa because it offers a better rewards structure including 3% cash [...]

Capital One No Hassle Miles Rewards Review | CreditShout
April 7th, 2009 at 12:29 pm

[...] One No Hassle Miles Rewards Review By Renee Update: I now recommend the True Earnings Card from Costco and American Express over the Capital One No Hassle Rewards Card because it offers a better rewards structure including [...]

Citi Diamond Preferred Rewards Card Review | CreditShout
April 7th, 2009 at 2:32 pm

[...] Diamond Preferred Rewards Card Review By Kevin Update: I now recommend the True Earnings Card from Costco and American Express over the Citi Diamond Preferred Rewards Card because it offers a better rewards structure including [...]

Chase Flexible Rewards Visa Review | CreditShout
April 8th, 2009 at 1:51 pm

[...] Flexible Rewards Visa Review By Kevin Update: I now recommend the True Earnings Card from Costco and American Express over the Chase Flexible Rewards Card because it offers a better rewards structure including 3% cash [...]

Michel Hutchison
May 16th, 2009 at 8:20 am

The American Express card should be boycotted, avoided it has just raised it’s credit charge by 3% at a time when our Governments and Central banks have reduced prime to nearly 0%, If you want to encourage this behaviour then let Wall street do you over once more.

A Comparison of Supermarket Credit Cards | CreditShout
June 9th, 2009 at 1:05 pm

[...] True Earnings from Costco American Express. This card has a $50 annual fee which counts as your Costco membership. The APR is around 13.24% and excellent credit is required to qualify for the card. There are many benefits to the card, including the cash back. You can earn 3% cash back on gasoline up to $3,000 per year (after which you earn 1%). You also get 3% cash back at restaurants, 2% cash back on travel and 1% everywhere else you use your credit card. The card doubles as your Costco membership card and has great cash back offers and convenience. The downside to the True Earnings credit card is this: you only receive your cash back certificate or credit once per year, making it quite a long wait. Other than that, the card offers good rewards. [...]

Friday Link Roundup | CreditShout
November 13th, 2009 at 11:47 am

[...] the programs are generally more straight forward, however you need to watch out for cards like the TrueEarnings Card from Costco and American Express if you’re thinking about canceling [...]

American Express Credit Cards | CreditShout
February 8th, 2010 at 8:45 pm

[...] TrueEarnings Review Plum Card from American Express [...]

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