I've been contemplating a Costco Visa for a while now, but haven't been tempted to app yet. So last night as I was leaving Costco (and getting a freaking delicious 1/4 pound all-beef hotdog), I was looking at the huge Costco Visa banners, and noticed something.
On the cashback, it says 4% for "eligible" gas worldwide. I wondered what that involved, and dug into the terms and conditions, where I found this:
- 4% cash back on eligible gas worldwide, including gas at Costco, for the first $7,000 per year in gas purchases and then 1% thereafter.
- Certain Non-Qualifying Purchases. You will only earn 1% cash back, not 4%, for gas purchased at superstores, supermarkets, convenience stores and warehouse clubs other than Costco or for fuel used for non-automobile purposes.
So what does this exactly mean? In one sentence they say eligible gas purcahses worldwide, but in the details, they basically say that gas purcahsed anywhere except Costco doesn't qualify? So if I go get gas at a Shell, Chevron, or 7 Eleven, it's not covered?
@Anonymous wrote:
@DeeBee78 wrote:I've been contemplating a Costco Visa for a while now, but haven't been tempted to app yet. So last night as I was leaving Costco (and getting a freaking delicious 1/4 pound all-beef hotdog), I was looking at the huge Costco Visa banners, and noticed something.
On the cashback, it says 4% for "eligible" gas worldwide. I wondered what that involved, and dug into the terms and conditions, where I found this:
- 4% cash back on eligible gas worldwide, including gas at Costco, for the first $7,000 per year in gas purchases and then 1% thereafter.
- Certain Non-Qualifying Purchases. You will only earn 1% cash back, not 4%, for gas purchased at superstores, supermarkets, convenience stores and warehouse clubs other than Costco or for fuel used for non-automobile purposes.
So what does this exactly mean? In one sentence they say eligible gas purcahses worldwide, but in the details, they basically say that gas purcahsed anywhere except Costco doesn't qualify? So if I go get gas at a Shell, Chevron, or 7 Eleven, it's not covered?
I believe what they mean is gasoline purchased at grocery store branded stations, such as Safeway or Kroger (not sure what state you are in) and Sam'sWalmart gasoline stations would only qualify for 1%. Additionally, purchases for items purchased inside convenience stores (ie gum, soda, hotdogs, magazines, chocolate etc) would also only qualify for 1%. Typically for gasoline rewards most issuers tell you up front that it has to be pay at the pump transactions.
It kind of makes sense; they don't want to give you extra cash back for filling up at their competitors (grocery stores, Walmart and Sam's). Kind of like how most fast food places no longer carry Pepsi products because Pepsi is owned by the same company that owns Taco Bell/Pizza Hut/KFC-they (McDonalds, Wendy's etc) don't want to help support their compeition. Or in the early days of Discover, which was created by the formerly powerful Sears, other department stores didn't want to accept Discover as it helped their competitor, Sears.
But back to your post...gasoline purchased at the pump at 7-11, Shell, Conoco, Sunoco, Chevron, ExxonMobil, Sinclair etc should qualify for the 4%.
That's good to hear. Costco is so out of the way for me, and it's always a nightmare at their gas pumps. Even on a Wednesday night we waited for 10 minutes for a pump.
You can understand my confusion, right? The way their T&C's are worded, it specifically says "gas at convienence stores" is only going to earn 1%.
I only put premium Chevron in my cars, and want to continue to do so. I have a Chevron store card that I use for not, but 3 cents per gallon is a pretty meh reward rate. I earned a whopping 85 cents last statement, for $85.27 of gas purchases.
Yeah, they could have worded it better. I know..Costco is a Saturday-morning-right-as-they-open kind of thing for me otherwise its a zoo. That place is like an adult theme park, kids don't get it or like it, but adults love that place 
@fltireguy wrote:One thing I LOVE about my BofA 3-2-1 is that Circle K/Shell here in the Tampa area codes as a gas station inside and outside, so all store purchases are 3% as well...
Thats good to know, I just filled up my tank at Circle K and purchased $60 dollars worth of junk food. lol
I left my heart at Clearwater........
