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.