5% Cash Back on Gas from Costco's True Earnings Amex Card

5% Cash Back on Gas from Costco's True Earnings Amex Card!Amex along with Costco is offering a great cash back / rewards card for small business owners - True Earnings Business Card. With gas prices increasing every other day, this card lures us with a 5% cash back on gas purchases. Other attractive incentives include 3% cash back for dining out and 2% on travel purchases.

Another cool thing about this card is that it doubles up as our Costco membership card. That means one less card to carry. And the best part is that it has no annual fee with a paid Costco Membership.

  • Sign Up Link: Deal & Details
  • Cash Back:
    • 5% for purchases of automobile gas (effective December 01, 2007, any individual Purchase transaction in excess of 75 gallons or equivalent dollar value will not be deemed to be a Purchase of automobile gasoline) at Costco Gasoline and domestic stand-alone gas stations, excluding gas purchased at warehouse clubs other than Costco, superstores or supermarkets.
    • 3% for eating out
    • 2% for travel purchases from airline, lodging, car rental, cruise line, travel agency and tour operators.
    • 1% on all other Eligible Purchases, including Costco - "Eligible Purchases" include purchases of goods or services, which purchases have not been returned or otherwise rescinded, and are not subject to a credit; it does NOT include fees, Finance Charges, Cash Advances (including the use of checks, automated teller machines, or other means of accessing your Account), Balance Transfers, or adjustments to your Account or the purchase of American Express® Travelers Cheques and American Express® Gift Cheques.
    • Redemption: Rebates are awarded annually in the form of an in-store coupon redeemable for cash or merchandise at any U.S. Costco Warehouse.
  • No annual fee with your paid Costco Membership. TrueEarnings Business Card and a Costco Membership are combined in one card. Plus there will be no fee for Additional Business Cardmembers on the account as long as they are on your current Costco membership.
  • APR: 0% introductory APR on purchases for the first three months
  • Payment Options: Pay over time or pay in full. Grace Period for repayment of the balance for purchases is 20 days if the previous balance shown on each billing statement is paid in full by each respective due date.
  • Extra Benefits: Amex has provided its standard set of extra benefits (insurances) with this card. Some of these services are free while others are fee based. Please inquire about the service charges before using them.
    • Travel Accident Insurance
    • Baggage Insurance Plan
    • The Car Rental Loss and Damage Insurance Plan
    • The Buyer's Assurance Plan
    • The Purchase Protection Plan
    • Return Protection
    • Online Fraud Protection Guarantee
    • Emergency Card Replacement
    • Identity Theft Assistance
    • Emergency Check Cashing
    • Global Assist® Hotline
    • Online Account Management
    • Expense Management Tools
    • Exclusive Savings for Small Business with OPEN Savings

Note: Anyone can apply for a business credit card. All you have to do is simply list your name as the business name. This will make you a “sole proprietor.” The next step comprises of using your SSN instead of a Federal Tax ID. And you are all set to reap the rewards!

But there is a catch in this case. Since this card doubles up as a Costco Membership card, we need a business account at Costco to earn the cash back and rewards.

For small business owners this card is definitely a win-win. Go Amex - you deserve the rewards!

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