 |
  |
|
|
|
|
TrueEarnings® Business Card from Costco & American Express Review
Issued by American Express
  
|
Overall Rating:
Benefit Rating:
|
|
The TrueEarnings® Business Card from Costco and American Express is designed for business owners that are Costco members, 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; 5% is earned for gasoline purchases; 3% rebate for restaurant purchases; 2% rebate for travel purchases; and 1% rebate on all other purchases including Costco purchases. 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.
The card has an above average interest rate for purchases and balance transfers (for a business card), and it is not ideal for those who plan to carry a balance on the card, even when considering the cash back rebates. There is no annual fee with a paid Costco membership, and cardholders can take advantage of the 0% introductory offer on purchases for three months and the very low balance transfer offer for six months on balance transfers made within the first 40 days of 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® Business Card from Costco and American Express has to offer.
The cash rebate amount varies according to where the cardholder makes the purchase; 5% is earned for gasoline purchases; 3% rebate for restaurant purchases; 2% rebate for travel purchases; and 1% rebate on all other purchases including Costco purchases. 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.
The card has an above average interest rate for purchases and balance transfers (for a business card), and it is not ideal for those who plan to carry a balance on the card, even when considering the cash back rebates. There is no annual fee with a paid Costco membership, and cardholders can take advantage of the 0% introductory offer on purchases for three months and the very low balance transfer offer for six months on balance transfers made within the first 40 days of 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® Business Card from Costco and American Express has to offer.
Review Date: June 18, 2008
Note: The review on this card was updated on June 18, 2008. 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% APR for 3 Months |
|
Intro Applied Towards:
|
Purchases |
|
Additional Intro Details:
|
A 1.99% introductory rate is available on balance transfers for the first six months if a transfer is submitted during the first 90 days of Card membership |
|
Purchase APR:
|
Prime Rate + 9.99% (Variable) The APR for purchases is based on the Prime Rate. |
|
Cash APR:
|
20.99% (Variable) The APR for cash advances is based on the Prime Rate. There is a minimum APR on cash advances. |
|
Finance Configuration:
|
Average Daily Balance (including new purchases) |
| Credit Card Fee Details | |
|
Annual Fee:
|
$0 |
|
Additional Cardholders:
|
$0 |
|
Grace Period:
|
20 Days |
|
Late Payment Fee:
|
$15 if balance is less than $400 and $35 if balance is $400 or more |
|
Over the Limit Fee:
|
$30 |
|
Cash Advance Fee:
|
3%, $5 minimum |
|
Balance Transfer Fee:
|
There is no balance transfer fee associated with this offer. However, future balance transfers may incur a fee as disclosed at the time of the applicable transaction. |
| Credit Card Reward Program Details (Rebate) | |
|
Rebate Minimum:
|
1% |
|
Rebate Maximum:
|
5% |
|
Additional Rebates:
|
Earn a 5% rebate for gasoline purchases; earn a 3% rebate for restaurant purchases; earn a 2% rebate for travel purchases; and a 1% rebate on all other purchases, including Costco. |
|
Rebate Details:
|
The rebate will be awarded each year in the form of an in-store coupon. In-store coupons are redeemable for merchandise or cash at any U.S. Costco Warehouse. |
|
Expiration:
|
The rebate will be awarded each year in the form of an in-store coupon. In-store coupons must be presented at a U.S. Costco Warehouse prior to the expiration date stated on the coupon. |
|
Yearly Limit:
|
None |
| 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 Open Savings®. 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 paid Costco membership. Card 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® Business Card from Costco & American Express from American Express See other Business Credit Cards See other American Express Credit Cards |
|
