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Just wondering if anyone has used their Amex on large purchases at Costco in order to hit spending requirements for points, then returns an item. For some reason Costco only gives you cash back and won't credit your cc.
@RSCo wrote:Just wondering if anyone has used their Amex on large purchases at Costco in order to hit spending requirements for points, then returns an item. For some reason Costco only gives you cash back and won't credit your cc.
Just saw your thread, and replied on your other one! LOL
The Costco Amex is far and away one of the most popular Amex cards. I never understood why. People think it's no annual fee, but you have to pay the Costco membership. Even a cashback card is better, since at least you can use the cash elsewhere and not just at Costco. 2% dining, tons of cards offer this that are again better than Costco points. Gas? 5% gas cards all over the place.
I really don't get the appeal of this card.
@Open123 wrote:
@RSCo wrote:Just wondering if anyone has used their Amex on large purchases at Costco in order to hit spending requirements for points, then returns an item. For some reason Costco only gives you cash back and won't credit your cc.
Just saw your thread, and replied on your other one! LOL
The Costco Amex is far and away one of the most popular Amex cards. I never understood why. People think it's no annual fee, but you have to pay the Costco membership. Even a cashback card is better, since at least you can use the cash elsewhere and not just at Costco. 2% dining, tons of cards offer this that are again better than Costco points. Gas? 5% gas cards all over the place.
I really don't get the appeal of this card.
doesn't costco only take AMEX? I wouldn't know since we only have sams club around here...
@ryanbush wrote:
@Open123 wrote:
@RSCo wrote:Just wondering if anyone has used their Amex on large purchases at Costco in order to hit spending requirements for points, then returns an item. For some reason Costco only gives you cash back and won't credit your cc.
Just saw your thread, and replied on your other one! LOL
The Costco Amex is far and away one of the most popular Amex cards. I never understood why. People think it's no annual fee, but you have to pay the Costco membership. Even a cashback card is better, since at least you can use the cash elsewhere and not just at Costco. 2% dining, tons of cards offer this that are again better than Costco points. Gas? 5% gas cards all over the place.
I really don't get the appeal of this card.
doesn't costco only take AMEX? I wouldn't know since we only have sams club around here...
Yes Costco is AMEX exclusive.
I think there is sometimes confusion over exactly which Amex cards you can use at Costco.
Some people think you can only use the Costco Amex at Costco. Others think that you can only use Amex cards issued by Amex at Costco. The truth is that you can use any card that has an Amex logo on it at Costco, including ones issued by other banks (e.g. BofA, Citi, Chase, etc.)
@sengpatt wrote:I think there is sometimes confusion over exactly which Amex cards you can use at Costco.
Some people think you can only use the Costco Amex at Costco. Others think that you can only use Amex cards issued by Amex at Costco. The truth is that you can use any card that has an Amex logo on it at Costco, including ones issued by other banks (e.g. BofA, Citi, Chase, etc.)
It's just astounding to me that they came up with a "Costco Amex" where it's better to use any other card than this one at Costco and have a successful launch. Not only is it only 1% at Costco, it isn't even really cash, since either I have to use it Costco, or suffer the incovenience of going there to cash it once a year in August.
@nada9188 wrote:
To answer the op's question, yes I am sure people do this often. One could really rake in the points doing this. Some people question the integrity of this action, but I'm sure Costco doesn't pay much of anything to process Amex cards given their partner ship.
Integrity of using a better rewarding "Amex" network card than the Costco one? Are you serious? (Edit - My apologies, misread what you were referencing on the "integrity" relating to)
Edit - I do agree with you however on the "returning" stuff for the spending requirement. This is...well...questionable.
@nada9188 wrote:
That was not the op's question at all. This thread has nothing to do with the fact that there are better cards to use at Costco than the TE card.
The op is asking say for example, he gets a SPG card that has a 5k spend within xx months for 25k points within x months. He wants to know if he can buy things and return them to make the spend without it being returned to the card.
Yes I am serious. I was answering the op not discussing the TE card.
Correct in theory.. So, here's a real life example of what happened to me, hence the question..
I purchased a laptop there for $1,300.00.. The laptop would not power up when I got it home so I took it back to exchange it for the same exact model. I simply wanted to swap it out for a new working one.. The customer service person said that I had to do a complete return, refund and repurchase.. They would not put the money back on my card and they instead gave me back cash or a store credit, but I opted for the cash.. So, that lead me to think about how much I just spent toward the spending limit for the 30k points. Would it be 1,300.00 or 2,600.00 toward the 5k spending requirement.. I thought surely Amex must be tracking this somehow and would they only count the original 1,300.00..
@Open123 wrote:
@RSCo wrote:Just wondering if anyone has used their Amex on large purchases at Costco in order to hit spending requirements for points, then returns an item. For some reason Costco only gives you cash back and won't credit your cc.
Just saw your thread, and replied on your other one! LOL
The Costco Amex is far and away one of the most popular Amex cards. I never understood why. People think it's no annual fee, but you have to pay the Costco membership. Even a cashback card is better, since at least you can use the cash elsewhere and not just at Costco. 2% dining, tons of cards offer this that are again better than Costco points. Gas? 5% gas cards all over the place.
I really don't get the appeal of this card.
First, most people who have this card are already paying for a costco membership. Therefore, the marginal cost for the card is $0. No AF.
Second, you get the rebate in the form of a check that can either be used to purchase merchanidse at Costco, or exchanged for cash at costco, or both (buy merchandise and received the difference in cash.)
It used to a great card when restaurants were at 3% for all around card. I ended up closing mine as I generally get better rebates on most categories using other cards, and I use the Fidelity Amex at 2% flat for everywhere else including costco. You can also redeem rewards on the Fidelity card monthly, whereas the costco card is yearly.