My Thoughts On The TrueEarnings Card from Costco and American Express

I’ve been trying out the TrueEarnings Card from Costco and American Express since the summer. Whether it’s for purchasing clothes, gas or groceries, it is now the rewards credit card I use the most. With no annual fee and a cash-back rebate each year, this card has some great benefits for the rational consumer.

Using the Costco American Express card is a great way to compound your savings. You get great deals from Costco, and you also enjoy the benefits of a generous rewards program from American Express. I’ve been happy with my Costco Amex so far, and here’s why:

Front of The Line

American Express offers Front of The Line, which gives advance ticket access to Cardmembers. This is one of the coolest features of the Costco American Express credit card. Honestly, I haven’t had the chance to take advantage of the American Express Front of the Line perk, but there have been some very big concerts, musicals and plays to which Amex offers Cardmembers an opportunity to buy tickets in a presale to beat the rush. This is something that I can get behind, as an avid concert-goer. After many failed attempts at buying decent tickets in the past, I will definitely be looking to see what I can get in advance through American Express Front of The Line.

Insurance Benefits

The TrueEarnings Costco Amex Card has some great insurance benefits as well. What’s impressive is that this card offers benefits equal to many cards that charge an annual fee — but you get the protection from the Amex Costco card without the need to pay the fee.

There is travel accident insurance for up to $100,000 as well as a purchase protection plan that insures eligible purchases against accidental physical damage and theft. The buyer assurance protection plan will double the manufacturer warranty by as much as one additional year. These are all items that can give you peace of mind, whether you are a frequent traveler, or whether you want to make sure that your latest purchase is well-protected and you are getting your money’s worth.

These are the types of “hidden perks” that many credit card users don’t realize they have. However, they can be very valuable if you pay attention and take advantage of them. Even if you don’t get this credit card, it’s a good idea to read through your cardmember benefits statement to see what perks come with your own credit card.

Cash-back

The American Express Costco TrueEarnings Card is probably best known for its cash back rewards. This is actually one of the things that most attracted me about the Costco American Express card. I’m already a Costco member, and I shop inside the store and get gas there every week. Adding the Amex Costco card to my wallet is practically a no-brainer since it allows me to benefit from things that I do anyway, in the course of a normal week.

First off, there’s the 1% cash-back on most of your regular purchases. And that’s not just at Costco; the cash-back applies anywhere you use your card. So, the incentive is to use the American Express Costco card for just about any of your regular, every day purchases.

But it gets better for certain purchases. You’ll get 2% cash-back when you fill up on gas and 3% cash-back at eligible restaurants. That’s pretty cool. And you don’t even have to do anything beyond what you’re already planning to spend money on to use the Costco Amex card and see cash rewards.

I’ve really enjoyed using the Costco American Express credit card. The cash-back is great, and I feel peace of mind with the insurance perks and the purchase protection. I travel a moderate amount, and it’s nice to know that I have some coverage through my credit card.

Since I first tried the TrueEarnings Card from Costco and American Express, it has been a great tool to help with budgeting as well. I can use it in conjunction with my budget plan to make sure that my spending is as smart as possible. On top of that, the cash-back means that every purchase I make is automatically discounted. Of course, this only applies if I pay off the balance each month so that I’m not accruing interest. (Anytime you use a rewards card, you need to make sure to pay it off each month so that your rewards aren’t offset by steep interest charges.)

I really like this card. My experience using it has been all positive. I was surprised at how quickly this card became practically indispensable. After using it, I can say that the cash-back and other perks of the American Express Costco card will keep me using it as my main credit card in the future.

Written by Tom Drake

Tom Drake is the owner and head writer of Canadian Finance Blog. While you’re here, consider signing up for the RSS feed or email subscription. Both deliver the latest articles directly to you! You can also follow me on Twitter for all the latest posts or to send me any comments or questions!

5 Responses to My Thoughts On The TrueEarnings Card from Costco and American Express

  1. Unfortunately, Amex support in Europe is sufficiently crappy that you would need another card to be on the safe side… and if you have another card anyways, why have two of them….

  2. I went to pay with my Venture card at Costco the other day, and completely forgot they only accept Amex. I almost did a face palm since we have been recommending this card on Creditshout for a few years now because of it’s solid cash back program. I will probably be applying for this card in the next few months, now that we are doing a lot more shopping at Costco – one just opened right down the street, and it’s awesome.

  3. Cash back on everyday purchases is not 1% flat. It is upto 1% (read finelines: 0.25% upto $1000 purchase, 0.5% on next $2000 & 1% on any amount over $3000)

  4. But if you have a Platinum cashback amex from costco do not switch to this card. amex has tried to switch me over several times claiming the new card is better. this is simply a lie the old platinum card give me 2% on all purchases everwhere all the time i get back the maximum $500 every year. in order to get that with the new card i have to spend way more.

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