Costco true earnings card
guys
I got the Costco true earnings card with my executive membership. I thought this is only a cash back card but logged on today into amex.com and found that i have earned a substantial number of membership rewards points Does anybody know if i earn both cash and MR pts with this card? Thx |
Originally Posted by sam007
(Post 18568567)
guys
I got the Costco true earnings card with my executive membership. I thought this is only a cash back card but logged on today into amex.com and found that i have earned a substantial number of membership rewards points Does anybody know if i earn both cash and MR pts with this card? Thx |
You aren't getting membership rewards points from the Costco/Amex True Earnings card. If you have any membership rewards points, they are from a different Amex card.
BigDaddy18: If you want to earn Amex membership rewards cards for Costco spend, just use an Amex that gives you membership rewards points when you check out. They take any Amex card. You don't have to use the Costco Amex card at Costco when checking out. And since it's easy to beat the 1% rebate you get at Costco on that card, you are probably better off using a different card. -David |
Thank you for the clarification, that's what I was thinking I guess I just read the other post wrong almost made it sound like they were getting points for their Costco card.
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I think that's what the OP was asking. Whether his Costco credit card earned MR points AND 1% cash back.
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alright and that brings me to my next question. I have an executive membership that gives me 2% on most costco products. I'm wondering if the extra annual fee is worth it
Do most credit cards like citi or amex treat costco as a supermarket and give 5% at least during their promotion periods? Thx |
We check out with SPG, the only thing and Costco Amex card is good for is gas 4 or 5 X
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Originally Posted by sam007
(Post 18578070)
Do most credit cards like citi or amex treat costco as a supermarket and give 5% at least during their promotion periods?
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do the cards that say 1% for everything else at least give you 1% or nothing at all?
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Originally Posted by sam007
(Post 18578899)
... or nothing at all?
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Originally Posted by sam007
(Post 18578070)
alright and that brings me to my next question. I have an executive membership that gives me 2% on most costco products. I'm wondering if the extra annual fee is worth it
"Is exec membership worth it" is not that difficult to calculate. Your break even point is the difference between normal membership and exec membership pricing. I think the current difference is $55, isn't it? So that's your break even point. You take the annual rebate check from costco and if that's $55 or more, you have already broken even. They can do this calculation for you at any Costco membership desk. You can add the value you get from your no-fee Costco/Amex card rebate to your costco exec rebate check and include that in the "is exec membership worth it" calculation. The rebate from the Amex/Costco card is a separate rebate, calculated separately on eligible spend on the Amex card: 4% for gas with an annual cap, if you have exec version; 2% for dining/travel; 1% elsewhere. You can also get some OPEN savings from the exec version of the card, but I don't think I would include them in this calculation since you can get them on any of the Amex/OPEN cards. (ie, SPG Biz Amex, and so on.) As mentioned above, gas stations (any charge at a gas station works, costco gas stations excluded of course) are the winning category for this card*, plus it's a no-fee Amex/OPEN card, so it doesn't cost anything to get it/keep it. -David |
great post for clarifying everything. So with premium membership i get 2% back from costco (nothing to do with amex) but amex also gives me 1% back for shopping at costco for a total of 3% right?
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The 2% executive member reward is capped at $750. So if you're planning on spending lots of money to build up the 2% executive reward that one is capped. Spending anything over $37,500 a year will only add to the 1% credit card reward, which is not capped.
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Originally Posted by sam007
(Post 18592683)
great post for clarifying everything. So with premium membership i get 2% back from costco (nothing to do with amex) but amex also gives me 1% back for shopping at costco for a total of 3% right?
Though it's easy to get more than 1% value on spend, so few of us actually use the Costco/Amex credit card at the Costco checkout. -David |
so next time i get my hand on a better amex card (i think costco only allows amex), i can submit my costco exec membership card and another amex. Right? This way, I'll get 2% for costco cash back and hopefully a nice newer card that gives me 5%
I can potentially do 7% here!!! |
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