Is the Costco Amex worth it?

[bluelikejazz]

DH and I were advised to get a second credit card by our loan officer (our credit is good (780ish), but we only have one CC currently).

We were thinking since we go to Costco anyway, we should get the Costco American Express.

Good idea/bad idea? Thoughts?

[MamaMaui24]

We love ours.

3% cash back on gas
2% travel and restaurants
1% everything else

It's nice to get the reward every February then the Costco reward on the membership anniversary. You can turn in both for cash if you don't spend it shopping at Costco.

[mollybrown]

I have the Costco Amex only because I don't want to pay in cash at Costco. I don't think it's any better or worse than other credit cards. I only use my Costco Amex at Costco. I prefer my Discover Card everyplace else (up to 5% back on rotating types of purchases).

[dexteroni]

Jun 20, 2012 11:03:50 GMT -5 MamaMaui24 said:

We love ours.

3% cash back on gas
2% travel and restaurants
1% everything else

It's nice to get the reward every February then the Costco reward on the membership anniversary. You can turn in both for cash if you don't spend it shopping at Costco.

What's the Costco reward?

[stumpy]

The Costco reward is for Executive Members. They earn 2% back on their purchases.
My Costco Amex also gives me rewards 3%, 2%, and 1% . . . just like pp said.

That being said, I normally use my Discover for everything and Amex just for Costco. I get gas thier, so I am getting 3% form Amex and 2% on Costc Exec Rewards . . . so that is better than my Discover unless they are running a gas promotion. (and that normally is just for a month or so)

[max88]

Our Costco Amex is our main CC, we use it for almost everything. We alternate with our Discover when they are running better promotions but most of the time we use the Amex.

[Deleted]

If you are already members of Costco, you should definitely get the Costco AmEx! The only cost is the Costco membership fee, and you get cash rewards like PPs mentioned. AmEx also has great consumer protections. H lost his $$$ prescription sunglasses in the ocean two weeks after he got them, and AmEx replaced them! :Y:

[bluelikejazz]

Thanks everyone! I was thinking it was a no-brainer, but wanted to make sure there wasn't something hidden that I didn't know about.

I'll apply next time we head to Costco!

[stumpy]

It is a no brainer if you shop at Costco. But I know there are a lot of people that are anti credit cards. Hello, I get money every month for doing nothing but shopping. Sounds good to me!!! (I LOVE rewards!)

There are also tons of things at Costco that I can't get elsewhere and/or are so much cheaper!