TrueEarnings: The Better Amex/CostCo Card
If you are a Costco member and use the American Express/Costco Cash Rebate credit card, pick up this money saving idea from FatWallet forum: Amex and Costco are rolling out a new version of cash rebate credit card called TrueEarnings.
According to the CostCo site, the benefits of TrueEarnings include:
+ True Cash Back-3% for eating out, 2% for traveling, 1% everywhere else, including at Costco
+ No annual fee with your paid Costco Membership
+ Exclusive business savings at At&T, FedEx, Hertz, and more
+ The flexibility to pay over time
+ Purchase Protection Plan and Buyer's Assurance Plan*
+ Customer Service 24 hours a day, 7 days a week
Cash-rebate wise, it is a much better deal than the original card, which, according to my memory, uses a tiered model that starts with 0.25% cashback for the first $2,500 purchases in the first year. With an annual spend of around $1,000 at Costco, and maybe $2,000-$5,000 in travel expenses, this card should bring $50 or more incremental cash back for me every year.
The conversion process is easy. I dialed the number on the back of the card, 1-800-964-8452, and just let the CSR know that I want to convert this card to the new rebate offer. It only takes a minute for the CSR to make the conversion. I was told I can continue to use my current card, and Amex will send me a new card within a month.
BankOne is in the game of aggresively marketing its credit card insurance program. Like CitiBank, which sent me a $15 check to lure me into its Credit Protector program back in May, BankOne is now giving me a $20 one for its variation called First ... Read
If you follow my gold credit card portfolio to get your share of $1,000 cashback rewards every year, you might notice the biggest bottleneck to squeeze even more cashback dollars is the caps put in the top two cards. Specifically, Citi® Dividend Platinum Select® Card ... Read
This is a quick report back on my progress to get up to $150 free money from Citi. As a background, in order to keep me in the Credit Protector program, Citi sent me 11 rebate coupons totaling $150 that can be redeemed over the ... Read
Once again, my credit score from both agencies are moving in opposite directions: my TransUnion FICO score improved 15 points to 734 while eLoan's CreditXpert credit score suffered a 44-point decline and now stands at 666. Read
Hi,
I got my TrueEarning card. It looks like the reward can be used only in costco. Is that true? It is unlike Citi Dividend card where they send out a check.
Also anyone know of any other catch regarding the maximum rewards per year on this card? I think it is $300 per year in Citi Dividend.
Thanks,
Karthik
You are correct ... TrueEarning card sends you a rebate slip every year that can only be cashed out at Costco.
However, if you take your rebate certificate to the returns desk in Costco they will give you the entire amount in cash.
