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Costo and American Express True Earnings Credit Card

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  • 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; 1% cash back on other purchases, including at Costco 
  • Terms and limitations apply; You will receive your cash back annually in the form of a reward coupon 
  • The Two-In-One Card: it's an American Express® Card and Costco membership card, with no annual fee for Costco members 
  • Cardmembership offers access to benefits such as  Global Assist and Purchase Protection* *Underwritten by AMEX Assurance Company 
  • Terms and restrictions apply.

Rates & Terms

Purchase Intro APR Regular APR Annual Fee Balance Transfer Period
0% 15.24%* Variable $0 N/A
  • Purchase Intro Period: 6 months
  • Balance Transfer Intro Rate: N/A
  • Balance Transfer Rate: 15.24%* Variable
  • Cash Advance Rate: 25.24%
  • Late Fee: Up to $35
  • Cash advance Fee: 3%, Min: $5
  • Balance Transfer Fee: 3%, Min: $5
  • Cash Advance Minimum: N/A
  • Balance Transfer Minimum: N/A
  • Credit Profile: Excellent Credit Score

Costo and American Express True Earnings Credit Card Review

The True Earnings® card from Costco and American Express is geared toward the avid consumer who is looking to earn cash back rewards as a loyal Costco member.  The card features a highly competitive cash back rewards system, including 3% on gas (up to $4000 per year), 2% on restaurants and eligible travel, and 1% on everything else including Costco. This card also conveniently doubles as a Costco membership card - which is significant savings of up to $110 per year.  While the three tiers of rewards offer wide-ranging opportunities to earn cash back, the TrueEarnings card is intended for a specific user and doesn't provide much value outside the Costco membership base. 

The 3% cash back on gasoline, even though capped, makes this card attractive to those who drive often.  It also doesn't have an annual fee.  However, considering you need an active Costco Membership in order not to pay an annual fee, it isn't necessarily our favorite cash back card.  We'd recommend consulting our rewards credit cards category page if you're looking for a card that provides more diverse benefits.