Reply
Frequent Contributor
RSCo
Posts: 472
Registered: ‎02-11-2013

Using Costco To Qualify For Points...

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. 

Citi Hilton Honors: $25,000 -- Amex PRG: $NPSL -- Citi TY Premier World: $9,880 -- NWFCU: $7,500 -- Citi Home Depot: $7,000 -- Citi AAdvantage Platinum Visa Sig: $5,000 -- Visa Black Card: $5,000 -- Discover IT: $5,000 -- AmexTrueEarnings: $5,000 -- Amex Gold Delta: $4,500 -- Pottery Barn: $4,000 -- Ethan AllenGE: $4000 -- Chase Slate: $2,500 -- CapOne Platinum: $2,500 -- CapOne Platinum: $2,500 -- AmazonGE: $2,200 -- Barclays BJs: $1,800 -- WalmartGE: $1,500 -- PenFed LOC: $500
Senior Contributor
Open123
Posts: 3,968
Registered: ‎02-23-2011

Re: Using Costco To Qualify For Points...


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.

Valued Contributor
ryanbush
Posts: 1,293
Registered: ‎08-19-2012

Re: Using Costco To Qualify For Points...


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...

Chase Sapphire Perferred | Chase Freedom | AMEX Platinum | AMEX Delta Platinum | AMEX SPG | Capital One Venture | Capital One Quicksliver | Discover IT | ABFCU Visa | Citi AA WEMC
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011

Re: Using Costco To Qualify For Points...


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.

 




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Regular Contributor
sengpatt
Posts: 223
Registered: ‎12-08-2012

Re: Using Costco To Qualify For Points...

[ Edited ]

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.)

EX: 758 (10/12), TU: ???, EQ: ???

BankAmericard Travel Rewards // Citi Forward // Amex Blue Cash Preferred // Gap Visa
Frequent Contributor
nada9188
Posts: 251
Registered: ‎11-27-2011

Re: Using Costco To Qualify For Points...

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.
Senior Contributor
Open123
Posts: 3,968
Registered: ‎02-23-2011

Re: Using Costco To Qualify For Points...


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.

Senior Contributor
Open123
Posts: 3,968
Registered: ‎02-23-2011

Re: Using Costco To Qualify For Points...

[ Edited ]

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.

Frequent Contributor
RSCo
Posts: 472
Registered: ‎02-11-2013

Re: Using Costco To Qualify For Points...


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.. 

 

Citi Hilton Honors: $25,000 -- Amex PRG: $NPSL -- Citi TY Premier World: $9,880 -- NWFCU: $7,500 -- Citi Home Depot: $7,000 -- Citi AAdvantage Platinum Visa Sig: $5,000 -- Visa Black Card: $5,000 -- Discover IT: $5,000 -- AmexTrueEarnings: $5,000 -- Amex Gold Delta: $4,500 -- Pottery Barn: $4,000 -- Ethan AllenGE: $4000 -- Chase Slate: $2,500 -- CapOne Platinum: $2,500 -- CapOne Platinum: $2,500 -- AmazonGE: $2,200 -- Barclays BJs: $1,800 -- WalmartGE: $1,500 -- PenFed LOC: $500
New Member
nutsaboutrewards
Posts: 3
Registered: ‎08-20-2012

Re: Using Costco To Qualify For Points...


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.

Amex Blue Cash Preferred - 6% groceries, 3% gas, 1% everywhere else
US Bank - Cash+ 5% restaurants, hotels, department stores, and wireless (two accounts)
Chase Amazon - 3% on amazon.com
Chase United - 2% on United/Star Alliance. Original "plat" card/grandfathered. Get 5k PQM/year.
Fidelity Amex - 2% (my main card)
Fidelity Visa - 1.5% $15k, 2% > $15k/yr (when they don't take amex.)
A few other EMV cards with 0% foreign exchange

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+