I was at Costco yesterday and like always they had the people out front trying to sign you up for an AMEX card. Usually I walk past them without hesitating but yesterday my eye was caught by a sign that said "5% Cash Back for gas purchases".
This card is for business owners only, others need not apply although it is easy and usually free to get a business license or resell number from your state so that you qualify.
This card has No Annual fee for Costco members 0% introductory APR read more at the linked site 5% Cash Back on gas 3% Cash Back on dining 2% Cash Back for traveling 1% Cash Back everywhere else including Costco
The Cash Back for gas is good for any gas Costco or not
JoeRocket said: This card is for business owners only, others need not apply although it is easy and usually free to get a business license or resell number from your state so that you qualify.
Pretty good card, but you do not need a business license to apply or even have a company. You can apply as a sole proprietor.
I looked at this too as I have my own business - and in the cardholder agreement it says something about the purchases made with the card must be for business purposes only. Not sure how they'd enforce that - but it's a heads up if you want to get a business license just to get this card...
1lossir said " I looked at this too as I have my own business - and in the cardholder agreement it says something about the purchases made with the card must be for business purposes only. Not sure how they'd enforce that - but it's a heads up if you want to get a business license just to get this card... "
Of course the people signing me up did not mention this. If it turns into a hassle I can always cancel the card. We will see how it plays out.
keeping my fingers crossed
PoisnBGood
Senior Member
posted: Jul. 16, 2007 @ 1:13p
I've had this card for a little over 2 years now. I got it when my old costco business card lost the internet BVG...(the good old days) and was replaced by this card.
It's a pretty good card. The 5% on gas was only recently added, but I have other cards for gas. What's nice is the 3% on dining which used to be rare. Also, for those who live near Costcos that also have gas pumps, this is a great double dip. It used to be that you'd have to decide between Costco gas or the 5% rebate on other visa/mastercards. Now you can get both, which results in a pretty nice discount on gas.
Don't bother with OPEN (their business savings), its pretty useless unless you rent a lot of cars and stay at hotels a lot. It does come free with the card though.
Other than that, its an AMEX. Great service, great buyer protections. I've always found AMEX customer service to be above and beyond those of Chase, Citibank, Discover, etc.
Oh, and don't worry about the "only for business purchases" part. There is no way they can tell. I use the card and buy $2k worth of personal stuff every month. Never had an issue.
Only drawback is that your CashBack comes in the form of a voucher once a year that you HAVE to cash at Costco. You don't have to use it for merchandise, but you have to go to the cashier to get the money in cash. This is sort of annoying, but if you go to Costco a ton, then its no big deal.
card does not offer free membership and annual fees start at 50 bucks.
how is his statement not accurate??
mist said: a529612 said: Does not include Costco membership though...
Read the AE "terms and conditions" before you post!
dtran42
Ancient Member
posted: Jul. 16, 2007 @ 4:24p
kaiotes said: card does not offer free membership and annual fees start at 50 bucks.
how is his statement not accurate??
mist said: a529612 said: Does not include Costco membership though...
Read the AE "terms and conditions" before you post!
The OP's information is indeed incorrect, or at least misleading. You MUST have a Costco membership to have the Annual Fee waived. Or else it's $50 a year to basically sign up for the Costco membership.
dtran42 said: kaiotes said: card does not offer free membership and annual fees start at 50 bucks.
how is his statement not accurate??
mist said: a529612 said: Does not include Costco membership though...
Read the AE "terms and conditions" before you post!
The OP's information is indeed incorrect, or at least misleading. You MUST have a Costco membership to have the Annual Fee waived. Or else it's $50 a year to basically sign up for the Costco membership. you guys need to learn how to READ!
the OP posted the following No Annual fee for Costco members how is that misleading? sounds pretty cut and dry to me oh, i get it, you meant the title - even still - it says AMEX COSTCO Business card - again, pretty self explanatory, as you can't get a costco business card without a costco membership
tenhut
Member
posted: Jul. 16, 2007 @ 6:40p
I wasn't entirely sure if purchases at Costco Gas station were 5% or 1% CashBack. I tried analyzing a bill (with several transactions) and it seems like costco gas is indeed 5% CashBack.
If anyone else has confirmation of this (or confirmed it through analysis of their bills) please post because I want to be sure.
It does not matter where the gas is purchased . It can be any gas station. Does not need be a Costco station.
bor
Happy Member
posted: Jul. 17, 2007 @ 1:23p
Great info! I've been avoiding an AMEX card for a while, but now it looks like they'll be reeling me back. I spend like $100 on gas a week - every little bit helps. Thanks OP!
This is better than most other gas cards I've seen, since a 5% Cash Back is usually in an intro period only.
Not to nitpick, but according to the terms and conditions posted in the quick summary, there are a few gas stations where the 5% rebate does not apply: "5% for purchases of automobile gas at Costco Gasoline and stand–alone gas stations, excluding gas purchased at warehouse clubs other than Costco, superstores or supermarkets;"
mminauro1 said: It does not matter where the gas is purchased . It can be any gas station. Does not need be a Costco station.
Methodman
Senior Member
posted: Jul. 17, 2007 @ 1:38p
Anyone know if you can convert the consumer card to business?
a529612
Senior Member - 1K
posted: Jul. 17, 2007 @ 1:40p
mminauro1 said: It does not matter where the gas is purchased . It can be any gas station. Does not need be a Costco station.
I think gas is a little cheaper at a Costco station anyway.
RainmanCP
Member
posted: Jul. 17, 2007 @ 1:47p
i get 5% on gas purchases at costco if i use my AMEX costco card and it's not a business card, i have executive which gives 2% and 3% from AMEX makes it 5%.
with this logic u will get 7% with this card RainmanCP said: i get 5% on gas purchases at costco if i use my AMEX costco card and it's not a business card, i have executive which gives 2% and 3% from AMEX makes it 5%.
RainmanCP
Member
posted: Jul. 17, 2007 @ 2:07p
itsme13 said: with this logic u will get 7% with this card RainmanCP said: i get 5% on gas purchases at costco if i use my AMEX costco card and it's not a business card, i have executive which gives 2% and 3% from AMEX makes it 5%.
i doubt that because costco usually gives the same deals to all their members. so i think the business card still breaks down like i said above.
a529612
Senior Member - 1K
posted: Jul. 17, 2007 @ 2:09p
How do I get this business card if I don't run a business? Do I just make something up?
Methodman said: Anyone know if you can convert the consumer card to business?
They won't. I called and asked already. They told me that i would have to open a new account.
Methodman
Senior Member
posted: Jul. 17, 2007 @ 3:44p
pjbearpj said: Methodman said: Anyone know if you can convert the consumer card to business?
They won't. I called and asked already. They told me that i would have to open a new account.
Cool, thanks for the heads-up. Are you guys getting anything extra by applying at the warehouse? If not, I'll save myself the trip and just apply online.
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