Well, it’s time for everyone that has a Costco TrueEarnings American Express to get their refund checks. Last year we had only had our card for a couple of months, so the rebate wasn’t all that impressive. This year, however, it is a nice amount that easily pays for our Costco membership and then some or a few weeks of our regular shopping at Costco. I think it is great that someone is willing to give me a percentage back on the things that I would have bought anyway; it’s like always having a coupon for everything I buy without involving scissors.
The refund it basically a check that you can only cash at Costco stores in the U.S. or Puerto Rico. You can use it to pay for your next purchase at Costco or you can redeem it for cash at Costco. The only thing you can’t use your rebate for is to pay off the balance of your American Express card; which seems a little odd but they mention it several times on the page of information. Of course, you could go to Costco and redeem your rebate for cash, which you then deposit into your bank account, and use to pay your American Express bill. They’ll never know.
So, if you don’t have a Costco TrueEarnings American Express, the question is why not? You get a percentage back on all purchases, not just those made at Costco, including gas. Depending on the type of purchase you make, you can can get 1% to 3% back: 3% for purchases of automobile gasoline (any individual Purchase transaction in excess of 75 gallons or equivalent dollar value will not be deemed to be a Purchase of automobile gasoline) at Costco Gasoline and domestic stand-alone gas stations, excluding gas purchased at warehouse clubs other than Costco, superstores or supermarkets; 3% at restaurants; 2% for travel purchases from airline, lodging, car rental, cruise line, travel agency and tour operators; or 1% on all other eligible purchases posted to your account. So, that’s a pretty good deal if you buy gas and eat out. Oh yeah, and this rebate is in addition to the Costco 2% rebate for Executive Members. Plus, there’s no annual fee, just your normal Costco membership fee, and this card will serve as both your American Express card and your Costco membership card; one less card to carry around with you.
So, if you’d like to learn more about the TrueEarnings American Express card, or apply for it now, you can do so at Costco.com. The sooner you apply, the sooner you start working toward your refund check next February!