Costco AMEX TrueEarnings Card to Offer 3% Cash Back for Gas

I usually don’t read too much the Costco Connection magazine I received every month as part of the benefit of being an Executive Member, because more than half of the magazine are ads while the rest are articles about stuff Costco offers . But a piece in the February issue did get my attention last night. It’s an announcement that starting February, TrueEarnings Card holders can earn 3% rebate on gasoline purchases.

And, beginning this month (February), members with the newer cards begin receiving 3 percent cash back on gas purchases! These include gas purchases from Costco gas stations and stand-alone stations (such as Chevron or Shell that are not part of a retail or grocery chain).

Originally, the card offers 3% rebates at restaurants, 2% on travel, and 1% everywhere else. The new rebate program definitely makes the card more usable. Before, I only charge it at Costco (1% cash back) and restaurants, and use Chase Freedom card at gas stations and grocery stores for 3% rebates. However, since the 3% rewards from Chase is part of its top-3-category reward program, it would be better to use the TrueEarnings card to get the 3% back for sure. The only problem is, not everybody accepts AMEX

BTW, in addition to this new rebate program, there are several other cards also offer 3% or more cash back on gas, including:

• Discover More Card: 5% cash back bonus on ravel, apparel, home, gas, restaurants, and movies;
• Discover Open Road Card: 5% cash back on gas and auto maintenance purchases;
• Citi Driver’s Edge Options Platinum Select Card: 6% rebates on the purchases made at supermarkets, drugstores and gas stations for 12 months, 3% thereafter.

With gas price around $3.00 a gallon, 3% cash back is a pretty good deal.

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