Posted by Madison on September 12, 2008
UPDATE: The $25 bonus is no longer available for this card but it’s still one of the best cash rewards credit cards out there!
I keep the Best Cash Rewards Credit Cards updated regularly. One of the cards added after it was first published was the TrueEarnings® Card from Costco and American Express.
In order to get the card, you must be a member at Costco. You’ll need need your Costco membership number to apply for the card. The card then works as both your credit card and your Costco Membership Card.
If you aren’t a member yet, you can sign up for a membership (or Business membership) online. Your membership number will be emailed within 48 hours.
TrueEarnings® Card from Costco and American Express
Details of the card:
- 3% Cash back at US gas stations and on gasoline at Costco up to $4,000 per year in purchases, then 1%
- 2% cash back at US restaurants; 2% cash back on eligible travel purchases, including at Costco; 1% cash back on other purchases, including at Costco
- Terms and limitations apply; You will receive your cash back annually in the form of a reward coupon
- The Two-In-One Card: it’s an American Express® Card and Costco membership card, with no annual fee for Costco members
- Cardmembership offers access to benefits such as Global Assist and Purchase Protection* *Underwritten by AMEX Assurance Company
- Terms and restrictions apply.
Costco Business Card
If you plan to use the card for gas, you might want to consider the TrueEarnings® Business Card from Costco and American Express. It offers 5% for buying gas. Although, there is not a free money sign up bonus with the business card.
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OH boy… just typed in a response and lost the whole thing by pressing “subscribe” below. Oh well. I wanted to tell you there is a pretty good ethical discussion going on over at Blueprint for Financial Prosperity about “stealing” gas using an AMEX card when Costco clearly states you must have an account in order to buy gas from them.
We actually do quite well at Costco – meaning we don’t do impulse buying there at all. There are a few set items that we buy that are cheapest there, and we know we’ll use them in the quantity available. I understand prescriptions can be much less expensive if your insurance doesn’t cover them. Anyway, I had gone into a bit of detail about what we do buy there and the prices, but since I lost it… well, maybe I’ll do a post over on my blog one of these days.
Will they let you in on a guest pass or anything like that, so you can see for yourself if you would save money?
Also, thanks for the tip on the $25 rebate from AMEX and Costco. I applied for that.
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