TrueEarnings® Card from Costco & American Express Review
Issued by American Express
  
|
Overall Rating:   Benefit Rating: |
|
The TrueEarnings® Card from Costco and American Express is designed for Costco members who have average credit and plan to take advantage of the cash back reward program.
The cash rebate amount varies according to where the cardholder makes the purchase; 1% is earned on general purchases, 2% is earned for travel-related purchases, 2% is earned for restaurant purchases and 3% is earned on gasoline purchases up to $3,000 (1% thereafter). There is no limit to the amount of cash rebates that can be earned.
In addition to the cash rebates, the card does provide several benefits and services that are commonly found with American Express® credit cards, such as purchase protection, auto rental insurance, and travel accident insurance. New card customers will enjoy 0% APR on purchases for the first 6 months of account membership. There is also no annual fee for this card with a paid Costco membership.
Therefore, those who plan to spend at least $5,000 a year on the card and plan to pay in full each month after the introductory rate expires (to avoid finance charges) will benefit most from what the TrueEarnings® Card from Costco and American Express has to offer.
The cash rebate amount varies according to where the cardholder makes the purchase; 1% is earned on general purchases, 2% is earned for travel-related purchases, 2% is earned for restaurant purchases and 3% is earned on gasoline purchases up to $3,000 (1% thereafter). There is no limit to the amount of cash rebates that can be earned.
In addition to the cash rebates, the card does provide several benefits and services that are commonly found with American Express® credit cards, such as purchase protection, auto rental insurance, and travel accident insurance. New card customers will enjoy 0% APR on purchases for the first 6 months of account membership. There is also no annual fee for this card with a paid Costco membership.
Therefore, those who plan to spend at least $5,000 a year on the card and plan to pay in full each month after the introductory rate expires (to avoid finance charges) will benefit most from what the TrueEarnings® Card from Costco and American Express has to offer.
Review Date: October 18, 2011
Note: The review on this card was updated on October 18, 2011. The review is believed to be accurate during the update, however, information posted may have changed since the update. We strongly suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application.
| Credit Card Rate Details | |
|
Intro Rate (Intro APR):
|
0% on Purchases for 6 months |
|
Intro Applied Towards:
|
Purchases |
|
Additional Intro Details:
|
You will enjoy 0% APR for 6 months on purchases from the date of account opening. After that, your regular APR will apply. |
|
Purchase APR:
|
15.24% variable (Variable) |
|
Cash APR:
|
25.24% (Variable) |
|
Finance Configuration:
|
Average Daily Balance (including new purchases) |
| Credit Card Fee Details | |
|
Annual Fee:
|
$0 |
|
Annual Fee Details:
|
No annual membership fee with your paid Costco Membership |
|
Grace Period:
|
25 Days (Min.) |
|
Over the Limit Fee:
|
None |
|
Cash Advance Fee:
|
Either $5 or 3% of the amount of each cash advance, whichever is greater. |
|
Balance Transfer Fee:
|
Either $5 or 3% of the amount of each transfer, whichever is greater. |
| Credit Card Reward Program Details (Rebate) | |
|
Rebate Minimum:
|
1% |
|
Rebate Maximum:
|
3% |
|
Additional Rebates:
|
3% for annual gasoline purchases of up to $3,000 (1% thereafter), 2% for restaurants, 2% for travel, 1% everywhere else, including Costco |
|
Rebate Details:
|
The rebate will be sent each year in the cardholder's February billing statement. |
|
Expiration:
|
Reward is distributed annually in the form of a reward coupon, and coupon must be redeemed in person prior to its expiration date of August 31st in the year in which it is issued. |
|
Yearly Limit:
|
No |
| Features |
|
Most Attractive Feature(s):
|
| Cash back rebate program; no annual fee. |
|
Least Attractive Feature(s):
|
| Available to Costco members only. |
|
Additional Features:
|
| Card can be used as a Costco membership card. Various travel and emergency assistance services. Auto rental insurance. Various Internet account related services. No liability for unauthorized Internet transactions. Access to various discounts at participating retailers and merchants. Extended warranty for purchases. Purchase protection. Emergency card replacement. Up to $100,000 in travel accident insurance. See website for additional benefits. |
|
Important Notations
|
| To apply for the card, the applicant must have a valid Costco membership. This card is not available to Puerto Rico residents. See website for complete terms and conditions of card usage and application disclosure. |
| Additional Information |
|
Apply Online for the TrueEarnings® Card from Costco & American Express from American Express See other Cash Back Credit Cards See other American Express Credit Cards |