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.
This review was updated 2008-04-24T00:00:00.0000000-07:00
| Type Of Rewards: |
Rebate |
| Reward Program Optional: |
No |
|
Optional programs may have a fee. See Data for details. |
For Cards with Cash Back Incentives
| Lowest Possible Rebate: |
1% |
| Highest Possible Rebate: |
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. |
For Cards with Point Incentives
| Points Per Dollar Spent: |
n/app |
| Additional Points: |
n/app |
| Point Details: |
n/app |
For Cards with Airline Incentives
| Miles Per Dollar Spent: |
n/app |
| Additional Miles: |
n/app |
| Program Details: |
n/app |
Rewards Expiration Period: 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.
Annual Limit: None
Additional Credit Card Perks
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.
Special Notations about the TrueEarnings® Business Card from Costco and American Express
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.
Always read the credit card's Data before applying!
