topic Re: Costco AMEX - what's the big deal? in Credit Cards

Costco AMEX - what's the big deal?

Duncanrr — Mon, 01 Oct 2012 02:25:47 GMT

Costco is planning on opening a store in New Orleans next summer. What's the big deal about Costco and more importantly what's the big deal about Costco AMEX?

This should open right around time of my refi. Should I consider the card for my second round of app spree?

Re: Costco AMEX - what's the big deal?

migliogiorni — Mon, 01 Oct 2012 02:30:48 GMT

Cosco Membership fee is waived with amex and you can buy in bulk for cheap.

Re: Costco AMEX - what's the big deal?

cashnocredit — Mon, 01 Oct 2012 02:38:44 GMT

It's free and you get 1% cash back. Amex is the only CC CostCo accepts.

Re: Costco AMEX - what's the big deal?

EandK23 — Mon, 01 Oct 2012 02:43:33 GMT

Hi Duncanrr...

I am a huge proponent of Costco. I have an executive membership that gives me 2% CB on my purchases excluding gas. Bttw, in my area, gas is always .10 cents cheaper than most gas stations. I shop for only items that I need and am a pretty frugal shopper to say the least. You can definitely get carried away at Costco.

As for the Amex Costco card, I was recently approved for it and couldn't be happier. It gives decent cash back, and from my research, is the only card that is eligible for 3% CB at the Costco gas pump and a full 1% for Costco purchases.

Re: Costco AMEX - what's the big deal?

Chaos122 — Mon, 01 Oct 2012 02:50:08 GMT

Its a pretty good card, and since costco only accepts amex as a credit card, its convenient if your going to be shopping there. You get 3% on Gas, 2% on Dining, and %1 on everything else. The above poster is wrong, costco membership fee isnt waived with the amex, you still have to pay your membership fee, There is just no annual fee for the Costco Amex card all you have to pay is your Costco Membership fee. Good luck to You

Re: Costco AMEX - what's the big deal?

Duncanrr — Mon, 01 Oct 2012 02:54:04 GMT

Thanks for info. All we have down here is Sams Club and I've never been to Costco. The Sams is on West Bank and a bit of a pain. The Costco is closer to uptown and easier for me to get to.

I'm going to app for another AMEX in June but it maybe SPG or BCP.

Re: Costco AMEX - what's the big deal?

creditnocash — Mon, 01 Oct 2012 02:57:13 GMT

note that after 4k the 3% turns to 1%. on gas.

and yes the costco membership isnt waived only the annual fee for the amex.

and as for payments. costco does accept visa and mastercard but only as debit. otherwise they only accept amex(use my zync there) as credit. or cash.

and yes the items they have there can easily turn into a 4-500 bill when only meant to go shopping for a few things.

and never go there on an empty stomach.

not only will you be prone to buy more but the samples will get you!.

Re: Costco AMEX - what's the big deal?

LS2982 — Mon, 01 Oct 2012 03:04:49 GMT

creditnocash wrote:
note that after 4k the 3% turns to 1%. on gas.

and yes the costco membership isnt waived only the annual fee for the amex.

and as for payments. costco does accept visa and mastercard but only as debit. otherwise they only accept amex(use my zync there) as credit. or cash.

and yes the items they have there can easily turn into a 4-500 bill when only meant to go shopping for a few things.

and never go there on an empty stomach.
not only will you be prone to buy more but the samples will get you!.

Very true!!!!! :smileyvery-happy:

Re: Costco AMEX - what's the big deal?

jsucool76 — Mon, 01 Oct 2012 09:37:09 GMT

Samples are the best part of costco.

Re: Costco AMEX - what's the big deal?

Cdnewmanpac — Mon, 01 Oct 2012 12:43:28 GMT

Costco is actually the reason I got a Zync card in the first place. I got tired/wary of using my debit card at Costco and have found the NPSL feature to be useful there.

In addition to food, windshield wipers, etc. Costco forms relationships with local and national service providers and offers the services through Costco, often at a substantial savings and always with the backing of Costco. We have purchased a car through the costco auto program, a heating/cooling system, a trip to italy, homeowners insurance (later replaced with USAA), etc.

They are also one of the largest retailers of fine wine in the country. They are an excellent source for vintage champagne, sauternes, oregon pinot, cult cabs, washington wines and CdP.

I originally planned to try for the Amex TE card, but don't think my credit is quite there yet. I will in another year or so, mostly because of the backdating (88) and because it is free.

Re: Costco AMEX - what's the big deal?

bobebob — Mon, 01 Oct 2012 15:55:39 GMT

I put every purchase I can through my Costco Amex.

I PIF every month and so I pay no interest charges. Las year I got a check for over $500.

How's that for a reason? :)

My retired mom actually works giving out the samples. I call it the Costco Buffet.

Re: Costco AMEX - what's the big deal?

lithium78 — Mon, 01 Oct 2012 16:07:17 GMT

For warehouse shoppers in the Northeast, I recommend BJ's Wholesale. They are the only warehouse store that accepts Visa.

Re: Costco AMEX - what's the big deal?

Tommy5746 — Mon, 01 Oct 2012 16:09:24 GMT

It also looks pretty awesome :smileytongue:

Re: Costco AMEX - what's the big deal?

CribDuchess — Wed, 03 Oct 2012 03:30:15 GMT

I guess I'm about to find out what the big deal is! I've received 2 emails from Costco in the past 2 months that promoted the Amex Costco TE card. In yesterday's email, they offered $50 for spending $500 in the first 90 days. I found myself clicking the "Apply" button within the email last night. I was instantly approved (and no, I'm not talking about getting the 7-10 day message and then checking the app status and seeing "approved"). I submitted the app and the next screen I saw contained the words "congratulations" and "approved." Not used to seeing that from Amex!

The only thing this app cost me was a HP on Experian (I now have 3 HPs on Experian, 2 of them are from Amex). The 3% cash back on gas is what really motivated me....well, that and the 23 years of backdating. My new car requires premium unleaded, so I try to fill up at my local Costco and the 3% cash back will be a nice benefit.

Does anyone know if the 2% on dining only applies to dine-in restaurants? Or does it also apply to fast food/take out?

Re: Costco AMEX - what's the big deal?

creditnocash — Wed, 03 Oct 2012 03:34:28 GMT

CribDuchess wrote:
I guess I'm about to find out what the big deal is! I've received 2 emails from Costco in the past 2 months that promoted the Amex Costco TE card. In yesterday's email, they offered $50 for spending $500 in the first 90 days. I found myself clicking the "Apply" button within the email last night. I was instantly approved (and no, I'm not talking about getting the 7-10 day message and then checking the app status and seeing "approved"). I submitted the app and the next screen I saw contained the words "congratulations" and "approved." Not used to seeing that from Amex!

The only thing this app cost me was a HP on Experian (I now have 3 HPs on Experian, 2 of them are from Amex). The 3% cash back on gas is what really motivated me....well, that and the 23 years of backdating. My new car requires premium unleaded, so I try to fill up at my local Costco and the 3% cash back will be a nice benefit.

Does anyone know if the 2% on dining only applies to dine-in restaurants? Or does it also apply to fast food/take out?

the gas stops at 4k a year of purchased gas just to let you know.

and as for the restaurants in the t&c just says us restaurants. doesnt specify.

btw what limit did you get?

Re: Costco AMEX - what's the big deal?

CribDuchess — Wed, 03 Oct 2012 03:40:05 GMT

the gas stops at 4k a year of purchased gas just to let you know.
and as for the restaurants in the t&c just says us restaurants. doesnt specify.

btw what limit did you get?

Yes, I saw the fine print about the $4,000 limit on gas purchases eligible for the 3%. I can live with that.

They gave me a starting limit of $5,000. I'm eligible for a CLI at the end of November (my last CLI was in May). I'm probably going to ask for the CLI on either the Optima or the BCE.

Re: Costco AMEX - what's the big deal?

nada9188 — Wed, 03 Oct 2012 03:40:51 GMT

I believe the 4000$ cap was raised to 7500. I'll have to double Check.

Re: Costco AMEX - what's the big deal?

creditnocash — Wed, 03 Oct 2012 03:42:38 GMT

nada9188 wrote:
I believe the 4000$ cap was raised to 7500. I'll have to double Check.

i just read that from the t&c from the costco and amex site.

Re: Costco AMEX - what's the big deal?

CribDuchess — Wed, 03 Oct 2012 03:44:47 GMT

creditnocash wrote:
nada9188 wrote:
I believe the 4000$ cap was raised to 7500. I'll have to double Check.
i just read that from the t&c from the costco and amex site.

So it was raised to $7,500? If so, that is perfect.

Re: Costco AMEX - what's the big deal?

creditnocash — Wed, 03 Oct 2012 04:19:48 GMT

CribDuchess wrote:
creditnocash wrote:
nada9188 wrote:
I believe the 4000$ cap was raised to 7500. I'll have to double Check.
i just read that from the t&c from the costco and amex site.
So it was raised to $7,500? If so, that is perfect.

no i meant i took the 4k limit right off of the amex site not the 7.5k