Amex BCE and Costco...

[bman86]

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@forceedge99 wrote:
I see what you're saying.

I'm just wondering how you receive 3% back from them. Costco records how much you spend thengives you 2% cash back through them? then using the true earnings card to pay you get 1% cash back which equals out to 3%. Is that how it works?

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Yes, so esentially you would get 1% back on your true earnings as a statement credit then at the end of the year you would get an additional 2% back through costco which I think is capped at $750. The 2% comes back as a rewards certificate that can only be used at costco.

[nicholasyud]

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@forceedge99 wrote:
Hmm. Seems confusing lol. So those 2% extra rewards don't go on the credit card?

I'm trying to figure out how this works. I'm not a member of costco so I don't know how the executive rewards work either.

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There's two membership member at costco. Regular and Executive like others mention.

Regular : Earn no rewards but paid $55 for membership.

Executive : 2% cash back for costco purchase and paid $110 for membership. Some other benefit from costco too.

On top of that, you can used any American Credit Card, Cash, or Debit at Costco and earn 1% cash back from your credit card company since they not code as ""grocery" .

[Creditaddict]

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@bman86 wrote:

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@forceedge99 wrote:
I see what you're saying.

I'm just wondering how you receive 3% back from them. Costco records how much you spend thengives you 2% cash back through them? then using the true earnings card to pay you get 1% cash back which equals out to 3%. Is that how it works?

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Yes, so esentially you would get 1% back on your true earnings as a statement credit then at the end of the year you would get an additional 2% back through costco which I think is capped at $750. The 2% comes back as a rewards certificate that can only be used at costco.

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Ah, that is the other bad thing I always forget but my partner gets irritated about... Blue of course is cash back and is in the cash back account you can log in and move to statement credit, gift cards, etc. etc.

When you use the True Earnings American Express you get all your cash back 1 time a year as a rewards certificate... however the other change to above statement is you can take those award certificates to the customer service desk and cash them out if you want or shop with it and ask for cash back for remainder... you don't have to spend it there... but the fact you have to sit and wait all year for it bothers my partner... could be good as a bonus to yourself once a year I guess!

but true earnings and exective membership will pay out on the same rewards certificate once a year.

if you have blue and executive... your costco 2% from Executive will come on the rewards certificate once a year and spending on the blue will be in the online cash rewards account through amex.