CostCo Amex

[chen9810]

You are right. So the real benefit of Costco Amex is a free upgrade from Gold Membership to Executive Membership. ($50 annual savings). 

Am I right?

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@-Cain- wrote:
OP, congrats and nice CL!

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@chen9810 wrote:

Why do you apply costo amex? I think other Amex cards can also been used at Costo. Costo Amex gives 3% rewards at Costco, but 2% of them are actually from Costco Gold Membership, you are actually getting 1% from using the card.

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2% from Gold? I know executive gives 2%, I thought Gold was the basic no reward membership.

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[-Cain-]

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@chen9810 wrote:

You are right. So the real benefit of Costco Amex is a free upgrade from Gold Membership to Executive Membership. ($50 annual savings). 

Am I right?

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@-Cain- wrote:
OP, congrats and nice CL!

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@chen9810 wrote:

Why do you apply costo amex? I think other Amex cards can also been used at Costo. Costo Amex gives 3% rewards at Costco, but 2% of them are actually from Costco Gold Membership, you are actually getting 1% from using the card.

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2% from Gold? I know executive gives 2%, I thought Gold was the basic no reward membership.

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That's a good question. I'm not sure if it upgrades one's membership level or not, I already had Executive when I signed up.

[Anonymous]

The card doubles as your Costco card you get your picture on the back of it and yes it's also the Executive card and it pays for itself, great card I love mine!

[iMacDrew]

either way congrats on the card, thats a nice limit. 

[Repo-ed]

One day I/we will get that costco card!

[emily504]

Regardless, i like the cash back even thought for costco only 1%, but I alwaus think this way, it may look like very tiny amount but it add up. I like the 3% cash back for gas which is great. 

Thanks everybody for all your great advice. Love this forum

[Crashem]

Just confirmed with Costco. Amex Costco card does not upgrade you to executive level. If you want the 2% cash back, you need to pay for executive level. Over around 2800 a year at Costco for it to make financial sense.

[Quips]

Agree - i have had this card for about 2 years and love it. The thing i really like is the 2% cash back on restaurants as well since we eat out a good bit.

[Quips]

Agree - i have had this card for about 2 years and love it. The thing i really like is the 2% cash back on restaurants as well since we eat out a good bit.

[searchingfor67]

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@emily504 wrote:

Regardless, i like the cash back even thought for costco only 1%, but I alwaus think this way, it may look like very tiny amount but it add up. I like the 3% cash back for gas which is great. 

Thanks everybody for all your great advice. Love this forum

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+1

[2NE1]

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@Repo-ed wrote:

One day I/we will get that costco card!

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Same here, I remember I applied two times back in the day (about four years ago) when I had no knowledge of how credit scores worked and was always denied! LOL, now I am working towards reaching this goal on the right path!