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Costco Amex + Costco executive membership

Frequent Contributor

Costco Amex + Costco executive membership

I was approved last Friday for the Costco Amex CC. I have always just had the gold membership, but now that I get 1% back on in warehouse purchases I'm mulling over the idea of upgrading my membership. Has anyone done a break-even analysis on this? I've searched on here and online and I have been able to find anything. I currently spend around 175-200/month there. Any help/info will be appreciated !

Starting Score: 620 FAKO
Current Score: FICO TU 715 (wal-mart) FICO EQ 692
Goal Score: 700


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Message 1 of 7
6 REPLIES
Established Member

Re: Costco Amex + Costco executive membership

Spend over $2750 in a year to make back the extra $55 in a rebate. I find it is worth it because we make our large purchases (tv, computers, camping, outdoor furniture) and contact lenses there, plus food/regular Costco shopping. I only wish that Costco travel and car rentals counted toward the cash back!
Message 2 of 7
Frequent Contributor

Re: Costco Amex + Costco executive membership

Thanks! Fortunately, the Costco Amex adds the 3% gas, 2% dining/travel. I might see how this first year goes with the true earnings card and then probably next year upgrade my membership.

Starting Score: 620 FAKO
Current Score: FICO TU 715 (wal-mart) FICO EQ 692
Goal Score: 700


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Message 3 of 7
Valued Contributor

Re: Costco Amex + Costco executive membership

You have nothing to lose. I got my Costco check for my Costco purchases and on my AMEX statement, I got a check for the CC side. When I took them to the service desk to cash them (why lose the rewards by using the check directly at the checkout?) the woman gave me the cash for the CC plus $55 for the other check, which was more than that check was for. They pay you the difference if you earn less than that $55 during the year. Not sure if that happens at the regular cash register or not, but it totally happened at the service desk.

 


Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around


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Message 4 of 7
Contributor

Re: Costco Amex + Costco executive membership

I was under the impression you are guaranteed the difference between the card membership fee's even if your spending is below the amount needed to get the 55.00 back.

Message 5 of 7
Regular Contributor

Re: Costco Amex + Costco executive membership

awesome congrats!


Starting Score: EQ 548 [ Feb 2010 ]
Current Score: TU 663 EQ 686
Goal Score: 700


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Message 6 of 7
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Valued Contributor

Re: Costco Amex + Costco executive membership


mauwow0682 wrote:
I was approved last Friday for the Costco Amex CC. I have always just had the gold membership, but now that I get 1% back on in warehouse purchases I'm mulling over the idea of upgrading my membership. Has anyone done a break-even analysis on this? I've searched on here and online and I have been able to find anything. I currently spend around 175-200/month there. Any help/info will be appreciated !

Congrats on your new card!

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Message 7 of 7