American ExpressTrueEarnings Card from Costco and American Express
The card that ended a 16-year Amex and Costco marriage.
Welcome Bonus
None
Discontinued
Spend Requirement
None
Annual Fee
$0
2.7% FTF
Credit Score
670+
(Good)
Historical Offers Chart
Every public offer change we've tracked. Hover for details, timing your application is worth hundreds of dollars.
Last verified 2026-06-11 · spot an outdated offer? Tell us in the comments.
Earning Rates
- 3xUS gas stations
- 2xRestaurants and eligible travel
- 1xEverything else, including Costco
Credits
No statement credits, this card wins on earn rates, not coupons.
Benefits
- ✦Doubled as the Costco membership card in your wallet
- ✦Annual rebate check redeemable in-warehouse
Why it earns its spot
- +Solid no-fee gas and dining earner for its era
- +Eleven million members made it one of America's biggest cobrands
Where it costs you
- −Only 1 percent inside Costco itself
- −Rewards came once a year as a paper coupon
The Compound Verdict
TrueEarnings was less a rewards card than a piece of Costco infrastructure: membership card, payment card and annual rebate check in one. When Costco put the contract out for bid, Citi and Visa won, and on June 20, 2016 roughly 11 million accounts moved to Citi in one of the largest portfolio transfers ever, becoming the Costco Anywhere Visa. Its death ended Amex's exclusive lock on Costco checkout lanes.
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