TrueEarnings® Card from Costco and American Express

From the CompareCards.com Editorial Team:

Those consumers who love Costco and its great low prices and vast inventory of quality merchandise will really enjoy carrying the TrueEarnings Card from Costco and American Express. The TrueEarnings card is an innovative rewards card collaboration between American Express and Costco, so you also get the legendary customer service and prestige that are associated with the American Express card brand.

You can earn cash back in three basic tiers. You earn 1% on all your purchases, whether you are shopping at Costco or someplace else. Then you can double your cash back to 2% for purchases made in designated travel categories, or earn a full 3% for gasoline and restaurant spending. But there is a cap on the 3% gasoline purchase awards that you should be aware of, because after you make gasoline purchases of $3,000 then the cash back rewards revert to a 1% cash back level for the remainder of that particular year.

But there are no limits on how many cash back rewards you can earn, and if you are a Costco member then you do not have to pay an annual card membership fee. The TrueEarnings card also simplifies your card carrying because this single piece of plastic serves as your Amex card and also your Costco Member card. There is a 0% APR intro offer for the first six months, and then the APR goes to 15.24%.

The Bottom-Line
This credit card is tailored to those folks who like to shop at Costco, and it helps generate solid cash back rewards while shopping at Costco or anywhere else on the planet where you make purchases with American Express. There is no annual fee if you are a paid Costco member, there is a 6-month 0% intro APR offer, and you can earn as much as 3% in some reward categories for powerful savings.

The Good
You can get 3% cash back on gasoline for your first $3,000 of gasoline purchases each year. There is no annual fee if you are a Costco member, and this card doubles as your Costco card. But you can still earn substantial cash back by using this Amex card anywhere, to buy anything.

The Not So Good
Unless you are a Costco shopper and member this card really doesn’t make any sense for you and you need to shop for another kind of plastic that is more in line with your shopping habits and needs.