Comments on: TrueEarnings Costco American Express Credit Card Review

By: Brandon

Brandon — Mon, 05 Dec 2011 04:24:25 +0000

Mike,
I have the same problem. My Sony is 2 years and 2 months, looks like the main board crapped out. Did American Express Extended Waranty worked for you?

Thank you,
Brandon

By: bob

bob — Sat, 15 Oct 2011 17:56:11 +0000

Very true. Just last weekend I purchased a large box of squeeze tuve apple sauce (kids love it). Happened to be at Walmart later that day and noticed Walmart carried it for over $1 dollar less (ie more than 15% less). I also agree that Costco’s paper products are way overpriced.

By: Jeff

Jeff — Wed, 12 Oct 2011 04:15:01 +0000

I have used the Costco True Rewards Credit Card now for some time, and find your review quite accurate. I like the this credit card. And like you, I use it the exact same way. I never carry a balance after making my monthly payment. That’s how credit cards make their money on the holder. So ultimately, we who exercise such fiscal discipline are considered “dead beats.”

By: Joe

Joe — Tue, 12 Jul 2011 21:57:14 +0000

American Express True Earning credit card…this is the credit card sponsored by Costco. While it does provide rebates do card holders know that if you have a late payment the company will charge you up to 27.24% of your balance for two months even if you pay the full amount one day late? ALSO know that they select an ‘attitude’ of your conversation…yes, the telephone receptionist not only records the date & time you call but will also write up/or select from a key their perception of your attitude! You may be paying a lot more than your rebate. So beware…

By: askmrlee

askmrlee — Thu, 21 Apr 2011 06:54:36 +0000

Of course, by closing the card down you cannot increase the credit line but the interest rate would have been locked. I must reiterate that if you were using credit cards to help fund your business, then there are other fundamental problems going on.

By: askmrlee

askmrlee — Thu, 17 Mar 2011 06:25:41 +0000

Tooltime may be referring to the business version of this card, which is similar to the consumer card, but offers 4% on gasoline, vs. 3% for the consumer, subject to earnings limitations.

If you are financing your small business with purchases from credit cards, I think there are other problems going on. You may have no late/missed payments which is good, but if the interest rate has been raised, you should have been able to lock the existing balances at the previous rate, as long as you agree to close the account and payoff the existing balance. It seems as if you accepted the interest rate increase by continuing to use the card.

By: G.E. Miller

G.E. Miller — Tue, 15 Mar 2011 21:58:48 +0000

This is a personal consumer card, not a business card. I’m not sure how your small business getting its credit limit decreased applies to consumers who are looking to use this card, particularly when you said all of your other credit lines were completely removed? It sounds like Amex was the only one to give you any credit at all. Why should others take caution? I’m not sure I understand.

By: Tooltime

Tooltime — Tue, 15 Mar 2011 20:51:18 +0000

Caution! Please look beyond this review for an idea of how Amex really works. I’m not certain how this particular thread ended up with so many postive remarks, but please do more research. I just had our credit limit reduced by 75%. Same story you’ll recieve elsewhere. My business has struggled not because of the economy (business total revenue increased 50% last year) but because of the lack of credit available to small business. Every card I had either raised interest rates to the roof or cut my limit to any balance owing. I still have no late/missed payments, I did use the card this winter because all of my other credit lines were reduced to a non-workable level overall. We’re through the worst part of the seasonal slowdown, so we’ll make it, but the folks in charge of credit nearly did us in. I implore you, please look beyond this one thread, you’ll get better information.

By: askmrlee

askmrlee — Tue, 15 Feb 2011 08:16:01 +0000

Some things to consider with this card:
The foreign currency conversion fee is 2.7%. This is better than many Chase cards, but still not as good as a Capital One.

Your cash back certificate is mailed to you only once a year, similar to your Executive membership reward. There’s no option for early redemption and you have to go to Costco to redeem. Although you could line up to customer service and redeem it for cash, you’ll likely use it to spend more.

By: Joe Topes

Joe Topes — Thu, 30 Dec 2010 05:03:38 +0000

Not a true rewards card, but anytime you can get a rewards card from Amex without an annual fee is a good thing, or at least in this case you are getting the value of the costco membership serving as your annual fee. The other thing to note is the maximum purchase gas on a year is $3000, which takes about 6-8 months to max out depending on the type of car you drive.