I love to earn cash back from my everyday purchases and I’ve found the best combination of cash back credit cards to maximize my spending rewards. One of the biggest challenges for my household is that we spend between $300 and $400 a month at Costco, and they only take American Express cards, like their own TrueEarnings Card from Costco.
TrueEarnings Card from Costco
When I applied for the Costco Executive Membership last year, I also signed up for the TrueEarnings Card. I wanted to use this card to get more rewards from shopping at Costco and to take advantage of some of the other perks.
Here are the features and benefits of the TrueEarnings Card:
- Earn a $20 Statement Credit with the TrueEarnings Card if you apply by March 24th, 2013
- Get 3% Cash Back on eligible restaurant purchases
- Get 2% Cash Back on eligible gas purchases
- Get up to 1% Cash Back on everyday purchases – including at Costco
- Add a FREE Supplementary Card – that person just needs to be a current member on your Costco account
- Enjoy 2.99% special low interest rate on purchases for the first 6 months, 19.75% thereafter
- Show your TrueEarnings Card for entry into any Costco warehouse and use it to pay for your purchases
My Credit Card Fail
I filled out the credit card application at the membership desk, and included my new mailing address because we had recently moved.
That’s where my credit card fail began. I didn’t receive the credit card and then I forgot that I’d even applied for it in the first place.
I continued to use my American Express Air Miles credit card at Costco until November, when I partnered with American Express to test drive their new ChoicePlus card.
Then a few weeks ago I went to the membership desk to renew my Executive Membership for the year. The customer service rep said my membership had already been renewed; it was automatically billed to my TrueEarnings Card!
I thought that was strange, considering I hadn’t even received the card to activate it for purchases. Apparently they had my old address on file since I’d been a member for years, and so they didn’t bother to look at the new address that I had filled out on my application.
Related: Getting Approved For A Credit Card – Some Are Easier Than Others
They had even sent my annual rebate cheque to my old address.
The next day I got a phone call from American Express saying my bill was two months past due. The balance was $115.50 for the membership, plus another few dollars in interest charges. If I let this go unpaid any longer it might affect my credit rating or even go to collections.
I’ve updated my address with Costco and American Express and should get my TrueEarnings Card, credit card statement, and rebate cheque in the mail next week.
I managed to get American Express to waive the interest charges (provided I pay the balance once I receive the card and statement) and they were very good about the whole situation.
Final Thoughts
If you want to maximize the rewards you get from everyday purchases then it’s important to carry the credit cards and loyalty cards that best match your spending habits. For me, that means carrying three or four credit cards along with store loyalty cards from the places where I shop the most.
Related: Manage Your Rewards Cards With A Mobile App
Unfortunately, all of these cards can be difficult to track and manage sometimes, especially when you’re forgetful like me. I know my wife can’t keep track of all the cards and she’s always asking which card she’s supposed to use when she’s out shopping.
Thankfully it all worked out and I’ve learned my lesson to keep better track of my credit cards.
American Express and Air Miles have launched a new credit card with a $299 fee. The American Express Air Miles Reserve card is the first high-end Air Miles credit card on the market and is aimed at the avid and sophisticated traveler.
Most travel programs come loaded with fees and restrictions that make it frustrating and complicated to redeem your points. It seems only the super elite get all the travel perks.
Related: How Many Air Miles Do You Need For A Free Flight?
But you don’t need to log thousands of miles in the air to get preferred treatment when you travel. There’s a growing demand for premium travel credit cards which help you maximize the joy of travel while minimizing some of the pain.
American Express Air Miles Reserve card
With the American Express Air Miles Reserve card, you’ll get luxuries like airport lounge passes, concierge service and access to business class seats. You’ll also get one free companion flight per year.
Show your card and you’ll breeze through the priority security lane at Pearson Airport. You’ll also have access to priority limo and taxi lanes for a speedy departure.
You can use your miles to pay for fees and taxes, and the Reserve card is the only Air Miles credit card that will waive the flight administration fee when you book.
Related: Best Ways To Redeem Aeroplan Points
Blackouts are not an issue because if a flight isn’t available you can use the ‘FlexFly’ feature to access additional flights outside the Air Miles flight program for a set fee.
No matter how you look at it, $299 a year is a steep price to play the part of high-end traveler. That’s two-and-a-half times more than most travel rewards credit cards charge.
But traveling is about the experience and more people are looking to add unique touches that really enhance the quality of their trip.
Norman Howe, President and CEO of well-known travel company, Butterfield & Robinson, says that premium cards like Air Miles Reserve help liberate traveler’s from the fees, restrictions and blackouts that befall most travel programs.
“Spend four hours in the airport between flights, or an hour waiting for a taxi to get to your hotel, and then tell me you wouldn’t pay a bit extra for a lounge pass or to jump the line,” said Howe.
Related: American Express Gold Rewards Card Review
Premium cards come with the type of perks that make you feel like you’re living an extravagant lifestyle.
If you charge thousands of dollars on your card every month and fly a lot, a premium card like the American Express Air Miles Reserve card might be a good fit. But if you don’t take advantage of the rewards and use them often, you’re wasting your money.