AmEx credit cards for regular usage and for Costco

Anonymous · ‎09-16-2014

I currently have Sallie Mae MC, Discover It and Chase Freedom, and I feel that I am loosing out on significant amount of money by just getting 1% cashback. These categories are taxi/subway, dining, travel, utilities, etc.

Most of my grocery/household products are purchased at Costco, where I have an Executive membership (2% cashback with $110 annual membership). As you may know Costco accepts American Express, so I started think of various Amex cards that may make sense applying for that would not only benefit me while shopping at Costco, but would also let me take advantage of my other categories. My optons are:

1) Fidelity Amex - additional 2% back on top of the 2% with Executive membership for shopping at Costco, (Membership not inlcuded, 4% cashback), 2% on all other useage

2) Costco True Earning - 1% cash back at Costo, 2% dining (restaurants and fastfood?), 2% travel

Based on the above, Fidelity Amex seems to be a great option for me, because not only will I make out while purchasing in Costco, but that will take care of all my other categories that my other 3 CC's don't cover. True earnings is a good option as well, but Fidelity Amex seems to be a much better option.

And just to cofirm, BCE and BCP don't count Costco as a supermarket, correct?

Please let me know if my assumptions are correct and what your advice would be?

Thank you

jsucool76 · ‎09-16-2014

@Anonymous wrote:
I currently have Sallie Mae MC, Discover It and Chase Freedom, and I feel that I am loosing out on significant amount of money by just getting 1% cashback. These categories are taxi/subway, dining, travel, utilities, etc.

Most of my grocery/household products are purchased at Costco, where I have an Executive membership (2% cashback with $110 annual membership). As you may know Costco accepts American Express, so I started think of various Amex cards that may make sense applying for that would not only benefit me while shopping at Costco, but would also let me take advantage of my other categories. My optons are:
1) Fidelity Amex - additional 2% back on top of the 2% with Executive membership for shopping at Costco, (Membership not inlcuded, 4% cashback), 2% on all other useage
2) Costco True Earning - 1% cash back at Costo, 2% dining (restaurants and fastfood?), 2% travel

Based on the above, Fidelity Amex seems to be a great option for me, because not only will I make out while purchasing in Costco, but that will take care of all my other categories that my other 3 CC's don't cover. True earnings is a good option as well, but Fidelity Amex seems to be a much better option.

And just to cofirm, BCE and BCP don't count Costco as a supermarket, correct?

Please let me know if my assumptions are correct and what your advice would be?

Thank you

Fid amex would be a good fit, but AFAIK it requires a minimum of $50 to redeem cash back.

And you are correct, costco is a warehouse/wholesale store, not a grocery store/supermarket, so you wont get your bonus cash back with a BCE/BCP, or PRG.

Anonymous · ‎09-17-2014

@Anonymous wrote:
I currently have Sallie Mae MC, Discover It and Chase Freedom, and I feel that I am loosing out on significant amount of money by just getting 1% cashback. These categories are taxi/subway, dining, travel, utilities, etc.

Most of my grocery/household products are purchased at Costco, where I have an Executive membership (2% cashback with $110 annual membership). As you may know Costco accepts American Express, so I started think of various Amex cards that may make sense applying for that would not only benefit me while shopping at Costco, but would also let me take advantage of my other categories. My optons are:
1) Fidelity Amex - additional 2% back on top of the 2% with Executive membership for shopping at Costco, (Membership not inlcuded, 4% cashback), 2% on all other useage
2) Costco True Earning - 1% cash back at Costo, 2% dining (restaurants and fastfood?), 2% travel

Based on the above, Fidelity Amex seems to be a great option for me, because not only will I make out while purchasing in Costco, but that will take care of all my other categories that my other 3 CC's don't cover. True earnings is a good option as well, but Fidelity Amex seems to be a much better option.

And just to cofirm, BCE and BCP don't count Costco as a supermarket, correct?

Please let me know if my assumptions are correct and what your advice would be?

Thank you

I thought True Earnings was 2% at Costco.

Anonymous · ‎09-17-2014

@jsucool76 wrote:
@Anonymous wrote:
I currently have Sallie Mae MC, Discover It and Chase Freedom, and I feel that I am loosing out on significant amount of money by just getting 1% cashback. These categories are taxi/subway, dining, travel, utilities, etc.

Most of my grocery/household products are purchased at Costco, where I have an Executive membership (2% cashback with $110 annual membership). As you may know Costco accepts American Express, so I started think of various Amex cards that may make sense applying for that would not only benefit me while shopping at Costco, but would also let me take advantage of my other categories. My optons are:
1) Fidelity Amex - additional 2% back on top of the 2% with Executive membership for shopping at Costco, (Membership not inlcuded, 4% cashback), 2% on all other useage
2) Costco True Earning - 1% cash back at Costo, 2% dining (restaurants and fastfood?), 2% travel

Based on the above, Fidelity Amex seems to be a great option for me, because not only will I make out while purchasing in Costco, but that will take care of all my other categories that my other 3 CC's don't cover. True earnings is a good option as well, but Fidelity Amex seems to be a much better option.

And just to cofirm, BCE and BCP don't count Costco as a supermarket, correct?

Please let me know if my assumptions are correct and what your advice would be?

Thank you

Fid amex would be a good fit, but AFAIK it requires a minimum of $50 to redeem cash back.

And you are correct, costco is a warehouse/wholesale store, not a grocery store/supermarket, so you wont get your bonus cash back with a BCE/BCP, or PRG.

Damn.... And they don't take Visa or Mastercard.

SunriseEarth · ‎09-17-2014

@Anonymous wrote:
@Anonymous wrote:
I currently have Sallie Mae MC, Discover It and Chase Freedom, and I feel that I am loosing out on significant amount of money by just getting 1% cashback. These categories are taxi/subway, dining, travel, utilities, etc.

Most of my grocery/household products are purchased at Costco, where I have an Executive membership (2% cashback with $110 annual membership). As you may know Costco accepts American Express, so I started think of various Amex cards that may make sense applying for that would not only benefit me while shopping at Costco, but would also let me take advantage of my other categories. My optons are:
1) Fidelity Amex - additional 2% back on top of the 2% with Executive membership for shopping at Costco, (Membership not inlcuded, 4% cashback), 2% on all other useage
2) Costco True Earning - 1% cash back at Costo, 2% dining (restaurants and fastfood?), 2% travel

Based on the above, Fidelity Amex seems to be a great option for me, because not only will I make out while purchasing in Costco, but that will take care of all my other categories that my other 3 CC's don't cover. True earnings is a good option as well, but Fidelity Amex seems to be a much better option.

And just to cofirm, BCE and BCP don't count Costco as a supermarket, correct?

Please let me know if my assumptions are correct and what your advice would be?

Thank you

I thought True Earnings was 2% at Costco.

Nope. TE is just 1% inside Costco. I usually just use my BCE inside Costco, since it's easier to redeem rewards. The TE will get you 3% at the Costco gas pumps, at least.

Anonymous · ‎09-17-2014

@SunriseEarth wrote:
@Anonymous wrote:
@Anonymous wrote:
I currently have Sallie Mae MC, Discover It and Chase Freedom, and I feel that I am loosing out on significant amount of money by just getting 1% cashback. These categories are taxi/subway, dining, travel, utilities, etc.

Most of my grocery/household products are purchased at Costco, where I have an Executive membership (2% cashback with $110 annual membership). As you may know Costco accepts American Express, so I started think of various Amex cards that may make sense applying for that would not only benefit me while shopping at Costco, but would also let me take advantage of my other categories. My optons are:
1) Fidelity Amex - additional 2% back on top of the 2% with Executive membership for shopping at Costco, (Membership not inlcuded, 4% cashback), 2% on all other useage
2) Costco True Earning - 1% cash back at Costo, 2% dining (restaurants and fastfood?), 2% travel

Based on the above, Fidelity Amex seems to be a great option for me, because not only will I make out while purchasing in Costco, but that will take care of all my other categories that my other 3 CC's don't cover. True earnings is a good option as well, but Fidelity Amex seems to be a much better option.

And just to cofirm, BCE and BCP don't count Costco as a supermarket, correct?

Please let me know if my assumptions are correct and what your advice would be?

Thank you

I thought True Earnings was 2% at Costco.
Nope. TE is just 1% inside Costco. I usually just use my BCE inside Costco, since it's easier to redeem rewards. The TE will get you 3% at the Costco gas pumps, at least.
Just checked. It's 2% at Costco. BCE can't be used for rewards at Costco.

takeshi74 · ‎09-17-2014

I'm not sure I follow your reasoning. Given:

@Anonymous wrote:
I feel that I am loosing out on significant amount of money by just getting 1% cashback.

@Anonymous wrote:
Most of my grocery/household products are purchased at Costco

Why would you say this?

@Anonymous wrote:
True earnings is a good option as well

The TE is only 1% at Costco (except for gas and travel).

@Anonymous wrote:
Just checked. It's 2% at Costco.

Where are you checking?

From: https://www304.americanexpress.com/credit-card/costco-american-express/25330

Earn 3% Cash Back at US gas stations and on gasoline at Costco up to $4,000 per year in purchases (then 1%), 2% Cash Back at US restaurants, 2% Cash Back on eligible travel purchases, including at Costco, and 1% Cash Back on other purchases, including at Costco.

Travel is the only spend that qualifies for 2% at Costco.

@Anonymous wrote:
BCE can't be used for rewards at Costco

Sure it can. It's just 1% but the TE is only 1% as well.

Anonymous · ‎09-17-2014

@takeshi74 wrote:
I'm not sure I follow your reasoning. Given:

@Anonymous wrote:
I feel that I am loosing out on significant amount of money by just getting 1% cashback.
@Anonymous wrote:
Most of my grocery/household products are purchased at Costco
Why would you say this?

@Anonymous wrote:
True earnings is a good option as well
The TE is only 1% at Costco (except for gas and travel).

@Anonymous wrote:
Just checked. It's 2% at Costco.
Where are you checking?

From: https://www304.americanexpress.com/credit-card/costco-american-express/25330
Earn 3% Cash Back at US gas stations and on gasoline at Costco up to $4,000 per year in purchases (then 1%), 2% Cash Back at US restaurants, 2% Cash Back on eligible travel purchases, including at Costco, and 1% Cash Back on other purchases, including at Costco.
Travel is the only spend that qualifies for 2% at Costco.

@Anonymous wrote:
BCE can't be used for rewards at Costco
Sure it can. It's just 1% but the TE is only 1% as well.

Since I don't currently have an Amex, I use my Debit card at Costco. So the only cashback I currently get from there is the 2% for my Executive membership.

I also have non-Costco expenses, a significant part of this are not covered by the categories offered on my 3 CC's (Discover, Freedom, Sallie Mae), so all I am getting on these is 1%.

So I am looking at possibly getting an Amex card, that will give me cash back in Costco, but will also provide more than 1% elsewhere. The one that seems to fit bill nicely is the Fidelity Amex. With this card I will get 2% everyhwere I use it, including Costco. Additionally, with Costco Exec membership I will get another 2% back from Costco.

trumpet-205 · ‎09-17-2014

Fidelity AMEX is pretty much what you need.

Anonymous · ‎09-17-2014

@takeshi74 wrote:
I'm not sure I follow your reasoning. Given:

@Anonymous wrote:
I feel that I am loosing out on significant amount of money by just getting 1% cashback.
@Anonymous wrote:
Most of my grocery/household products are purchased at Costco
Why would you say this?

@Anonymous wrote:
True earnings is a good option as well
The TE is only 1% at Costco (except for gas and travel).

@Anonymous wrote:
Just checked. It's 2% at Costco.
Where are you checking?

From: https://www304.americanexpress.com/credit-card/costco-american-express/25330
Earn 3% Cash Back at US gas stations and on gasoline at Costco up to $4,000 per year in purchases (then 1%), 2% Cash Back at US restaurants, 2% Cash Back on eligible travel purchases, including at Costco, and 1% Cash Back on other purchases, including at Costco.
Travel is the only spend that qualifies for 2% at Costco.

@Anonymous wrote:
BCE can't be used for rewards at Costco
Sure it can. It's just 1% but the TE is only 1% as well.

Takeshi, I stand corrected. I forgot about non grocery store category for the 1%.