The TrueEarnings(R) Business Card from Costco and American Express is a cash back business card that offers a low introductory rate and no annual fee when you have a Costco membership. When it comes to payment options, the card allows you to pay in full or pay over time. You choose which payment option works best for your business. This card is designed for those businesses with excellent credit. Here are some of the card features:
- 4% Cash back for gasoline, for annual gasoline purchases of up to $6,000; 1% thereafter
- 3% Cash back for restaurants
- 2% Cash back for travel
- 1% Cash back everywhere else, including Costco
Rates and Offers
The card offers a special introductory rate of 0% on purchases for the first 6 months. After that the APR will be 15.24% or 11.99% plus the prime rate. The APR for cash advances will be 21.24% or 17.99% plus the prime rate. The penalty APR will be 27.24 or 23.99% plus the prime rate. The penalty APR will apply to cash advances if you make 2 late payments in 12 months. This APR will also apply to all balances on your account if: you make 2 late payments in 12 months, go over your credit limit 3 times in a 12-month period; or you make a payment that is returned. If the Penalty APR is applied, it will apply for a minimum of 12 consecutive billing periods, and will continue to apply until after you have made timely payments, with no returned payments, and without going over your credit limit for 12 consecutive billing periods.
Rewards Program
This business card allows members to earn 4% cash back for gasoline purchases up to $6,000 per year and then 1% thereafter. You get 3% cash back for restaurant purchases and 2% for travel purchases from airline, lodging, car rental, cruise line, travel agency and tour operator merchants. In addition, the card allows you to earn 1% on all other eligible purchases. Rebates are awarded annually in the form of an in-store coupon.
- OPEN Savings®: With OPEN Savings, you can save on expenses with companies like FedEx, Hyatt Hotels & Resorts®, and more.
- Business Travel Center: Save on air, hotel and car reservations when you book through our Online Business Travel Center.
- Expense Management Tools: Create customized reports from your spending data and download to Quickbooks®–integrate your Card statement information.
- American Express OPEN®: Available 24/7, American Express OPEN can help you with billing inquiries, Card replacement, line increases, options for extending payment, and more.
- Additional Cards: Give employees Additional Cards to help consolidate and control business spending, and enjoy even more savings on business purchases.
TrueEarnings(R) Business Card Fees
There are fees associated with using this card. The table below highlights some of those fees. To see a complete list of fees you should refer to the card terms and conditions. You can apply for the card online today.
| Description | Fee |
|---|---|
| Annual Membership Fee | No annual fee for this credit card with your paid Costco Membership |
| Cash Advance | Either $5 or 3% of the amount of each cash advance, whichever is greater. |
| Foreign Transaction | 2.7% of each transaction after conversion to US dollars. |
| Late Payment | $15 if balance is less than $400; $35 if balance is $400 or more. |
| Overlimit | $30 |
| Returned Payment | $38 |