Originally Posted by mia
<< cashback is issued in the form of a discount / coupon for Costco purchases.>>
"Rebates are awarded every February in the form of an in-store coupon redeemable for cash or merchandise at any U.S. Costco Warehouse." I read this to mean that the arrangement is exactly the same as Sam's. They make you come to the store, but you can receive money rather than goods.
Yes, that is true. But you have to be a Costco member ($45/yr minimum) to get the Costco AMEX. My husband & I always go and get cash for the check at Costco --- why use it to buy goods there when you can charge it and get more cashback
Oh, and there's no 5% back for gas stations, drugstores, etc for the Costco True Earnings AMEX. It's a flat 3% travel, 2% eating, 1% elsewhere. Costco has another Plat AMEX that pays tiered, but it pays 2% for over 6K or 10K or something --- so good for high spenders. I forgot if there is a cap, but I earned effectively close to 1.5% once.