Costco TruEarnings Amex (sad news)

rob_s0

I had this letter earlier in the week, which stated that everyone will be moved to the Platinum Everyday card, which comes with a 5% cashback offering for the first three months.

However, I already hold that card, and suspect I might not be eligible. AmEx have made a written offer of the cashback, so I'm assuming I should be eligible but I was wondering if anyone had any idea/experience? Probably asking in the wrong place here, but their live chat has been unhelpful.

Hammer_Time

Deru wrote: »

I've just got a letter saying this will be discontinued next year and I'll be given an Amex Everday Rewards to replace it...

I'm gutted. Bye bye 3%, 2%, 1%...

All for 0.5% up to £5000, then 1%.

You'll get the 5% bonus in the first 3 months though. Anyone else here have it and currently love it? I know it's only for Costco vouchers as rewards but good rates.

Think I know the answer already but any alternatives that come close?

Sad news, when you get your Cashback voucher you can exchange it for cash.

When you get the new Amex card do Costco still accept it?

Deru

What do you mean I can exchange the voucher for cash? I thought we couldn't do that otherwise, I could take the cash then spend on a card again for more cashback.



Most likely when this happens, the Amex card won't be accepted as the membership card and will just need to be discarded. They will issue a replacement Costco membership card so I'll be back to carrying 2 cards instead of 1. It was nice to cut down by one card (wallet's getting a bit fat).

rob_s0 wrote: »

I had this letter earlier in the week, which stated that everyone will be moved to the Platinum Everyday card, which comes with a 5% cashback offering for the first three months.

However, I already hold that card, and suspect I might not be eligible. AmEx have made a written offer of the cashback, so I'm assuming I should be eligible but I was wondering if anyone had any idea/experience? Probably asking in the wrong place here, but their live chat has been unhelpful.

I also hold that Everyday card already. You will get it as you have the TruEarnings and they want to replace it with something. Downside is £3000 min spend per year to be eligible for the cashback so they won't exactly lose out by giving you it.

Hammer_Time

You can exchange the yearly Cashback voucher for cash at customer services if you wish (I have done it for the last two years) however you can also use it against a shop and pay the difference at the till.

Deru

OMG! I didn't know that and just used it towards my Costco shopping.... I will do it this last time. Thanks for the info!

colin79666

Got the letter today. Might leave Amex once I get the voucher in the new year as 0.5% is hardly worth it for the hassle of so many places not taking it. The Amazon MasterCard is looking pretty attractive now.

[Deleted User]

Amazon Mastercard has a return rate of about 0.2%.

Plenty of places take Amex - I rarely find a place that doesn’t - however in the case of an online shop not taking Amex, if you pay by PayPal you can then use your Amex card in this way.

Look here for more info on rates: https://www.headforpoints.com/2019/06/03/hsbc-launches-a-new-rewards-credit-card/

ic

Gutted - been a great card to have.

Deru

colin79666 wrote: »

Got the letter today. Might leave Amex once I get the voucher in the new year as 0.5% is hardly worth it for the hassle of so many places not taking it. The Amazon MasterCard is looking pretty attractive now.

If you can manage spending 3K, it might be worth keeping to take advantage of the 5% first. It does become 1% after 5K spend. Of course, depends on whether you can use it at the places you need to spend at to get to the totals.

payless

My leaflet mentions the 5% but the letter doesn’t