Costco American Express Card Holders Can Get More Rebate Cash Back!

We got a lovely little piece of mail the other day that’s going to put money in my pocket, and money in yours if you took my advice and signed up for the TrueEarnings card from Costco and American Express.

Enroll in the program and spend $1,000 on non-Costco purchases and you will get an additional 1% cash back on every eligible purchase (up to $200 extra!) between September 1 and October 31st!

That means I’ll be getting 4% cash back on gas, 3% on travel and 2% for every other non-Costco purchase.

And you know what else? I don’t have to wait for my rebate check to receive the extra cash back. It comes as a statement credit to my account 6-8 weeks after the promotion ends.

You have to be invited to participate. If you’re worried that you may have mistakenly tossed your invitation go to http://www.americanexpress.com/costco1000 and you can enter your login and password to see if you’re invited.

There’s lots of fine print, so check that out, of course.

It’s a great deal for me. I hope you can take advantage, too!

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Time To Increase the Grocery Budget. Or Eat A Lot Less.

Alison made a very interesting comment on her blog This Wasn’t In The Plan. She mentioned that other bloggers were talking about higher food prices, but she hadn’t noticed much of an increase anywhere but at Costco.

Amen.

I buy all of my meat and most of my dairy at Costco, and boy, do I notice a difference!

I used to pay $3.29 for 36 eggs at Costco. The other day I paid $5.39. Milk was $2.39. Now $3.99. Cheese was $7.79. Now $10.29.

And it’s not just dairy. Hamburger meat is up from $2.99 a pound to $3.29. Eight pound bags of frozen chicken breasts were $10.69 and are now $14.69. a 2-pack of bread went from $3.29 to $4.69. I could go on and on…

Egads! Stop the madness!!!!

I have also noticed large price increases in produce, but I’ve switched to buying most of that at the local farmer’s market, which charges significantly less than my grocery store.

Curiously, non-fresh foods are not seeing these whopping increases. I’m thinking that’s because fresh foods are mostly provided locally. There’s little product backlog and they have an easier time implementing price changes due to increased costs.

Well, it sounds good, anyway.

I have also noticed smaller, less outrageous price increases at the regular grocery store, especially in canned and packaged goods.

I’m afraid these price increases are just beginning. That’s scary.

Indeed.

Costco’s American Express Rebates Get Even Better

I’ve never applied for an American Express card. I refuse, on principle, to pay for the privilege of having a credit card. My agreement to carry a card means the issuer gets to charge the merchant a percentage of my total purchases. They don’t need – and won’t get – $50 a year from me, thankyouverymuch.

Husband, though, had no such principle. He already had a card when we got married, and after I explained my principle to him he agreed that we would cancel that card before renewal.

That isn’t what happened. Instead, American Express teamed up with Costco to offer a no-fee Costco American Express. As long as you were a Costco member you could switch your standard AMEX card over, get your annual AMEX fee waived and get up to 1.5% (it starts at .25% and increases in steps based on total purchases) back. Additionally, you no longer had to pay the card off every month (which is irrelevant to us, as another principle of mine is to never carry a balance). I can’t tell you the interest rate or how it compares to other cards (see never carry a balance principle).

It also gave me an opportunity to use a credit card at Costco, since the only card they accept is AMEX.

Switch the card over we did. We also added me as a user, and believe me when I tell you that mine sees much more action than Husband’s. Since we put everything (including cars) on our credit cards to take advantage of rewards, it’s a nice sum at the end of the year. The rebate is in the form of a check that you must use at Costco, but if you don’t use the entire amount they give you the cash back. Last Christmas’ purchase of Husband’s $4000 Mac gave us a nice bonus this year, which went directly into savings (well, after I bought us some nice steaks).

Today I went to Costco and discovered that now Costco and AMEX have an even better deal. Their TrueEarnings card, previously available only to business members, is now open to all. What’s so great about it? Well, it bumps up the rebate percentages on gas, restaurants and travel.

We’re all trying to save money at the pump. The new TrueEarnings card increases the cash back to 3% back on gas, adding even more value to a very good deal. Today’s Costco gas price was $3.09, a full ten cents cheaper per gallon than the other stations in my neighborhood. That 3% cash back means my true price per gallon will be $3.00. Horrible, but not as horrible as $3.19 …

They are also offering discounts of 3% for restaurant dining and 2% for travel. Another great difference: with the TrueEarnings card you get the maximum rebate from dollar one. That makes a big difference right there.

So, if you have a Costco American Express, or any American Express, call now to get switched over to TrueEarnings. If you don’t already have an American Express, call and get one.

And if you are one of the unlucky ones to not have a Costco within a reasonable driving distance (sorry, PaidTwice!), you might consider moving.

Update 8/29/08:  Check out my post about how you can possibly save even more through the end of October: Costco American Express Card Holders Can Get More Rebate Cash Back!

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