Costco and American Express are offering a $25 bonus in the form of a statement credit for new customers who make their first purchase using their TrueEarnings® Card.
The TrueEarnings® Card from Costco and American Express also offers significant cash back awards on most purchases, including 3% on gasoline and restaurants, 2% for travel, and 1% everywhere else. This cash back is unlimited, so you don’t have to worry about an annual cap. You’ll even earn cash back when shopping at Costco, which from what I understand already has low prices.
There is no annual fee for current members of Costco, but that’s the catch. You have to be a member of Costco to be approved for this card.
Also consider the equivalent card for businesses, the TrueEarnings® Business Card from Costco and American Express. This is a very similar card, but it does not offer the $25 statement credit with your first purchase. This card does, however, offer 5% cash back on gasoline rather than 3%. Therefore, if you plan on spending more than $1,250 on gas and if you don’t need $25 right away, the business card may be the better choice.
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Is this on top of the 2% bonus if you are an Executive Costco Member?
HMB: I’m pretty sure the 2% cash back you receive as an Executive Member is not tied to any particular credit card, but tied to the membership itself… so the 1% cash back (in the form of a Costco credit voucher) with the True Earnings card is in addition to what you are already receiving. That’s my understanding — I may be wrong as I’m not a Costco member myself.
flexo,
Just so you know, the first link for the personal card is an invalid link. You left out an “n” under earnings in the link.
Anyways, thanks for the article. Unfortunately there isn’t a Costco anywhere near here, however I hear they always seem to have great deals.
CJ: Thanks for letting me know… link is fixed. There isn’t one near me, either.
All should note that both Costco cards’ rebates are for INSTORE credit vouchers, not for CASH! Not that it’s bad to have a credit voucher if you shop costco regularly, but it’s not a cash rebate.
Actually Valerie, that’s not entirely accurate. The Terms and Conditions of the credit card state that the “Rebate is awarded annually in the form of an in-store coupon redeemable for cash or merchandise at any U.S. Costco Warehouse”. You can view this for yourself at the following link:
http://www201.americanexpress.com/apply/Fmacfservlet?csi=54/15758/b/4/0/0/0/n&BUID=CCG&CRTV=A000003ZN1COS&EAID=PPkX79%2Fc%2Ab0-zZyWkykm1RWBFFlaKkMVfg&PSKU=CST&AFFID=tbd&from=10&afflSID=null.
So while Costco would love for you to spend your money there (and I assume many do) the fact is that you can cash your rebate check there and spend it anywhere you want.
Hope this helps.
I got this card recently myself. The 3% rate back on restaurants makes it best rewards card for us based on our spending patterns.
Jim