OPEN from American Express and Costco announced a new 5% annual rebate on automobile gas at Costco Gasoline and stand-alone gas stations for TrueEarnings Business Cardmembers.
“American Express and Costco are committed to providing business-centric benefits to small business owners. This new benefit makes the TrueEarnings(SM) Business Card from Costco and American Express one of the most attractive business card products in the marketplace,” said Raymond Joabar, senior vice president and general manager, OPEN from American Express. “Our most recent semi-annual survey of business owners found that 78% of owners/managers have seen a significant or moderate impact on their business as a result of higher gas and energy costs. This new benefit now allows them to earn larger cash rebates that can help their business’ bottom line, just by using their Card.”
The 5% annual rebate for gasoline purchases complements the current TrueEarnings Business Card benefits which include a simple, rewards structure:
— 3% cash back for eating out, even for takeout or delivery;
— 2% cash back for traveling on airlines, for hotel stays, car rentals and cruises, including when booking through a travel agency; and
— 1% cash back virtually everywhere else, inside or outside of Costco warehouses.
The TrueEarnings Business Card incorporates programs and services tailored specifically to the needs of small business owners, including the OPEN Savings(R) program which gives automatic discounts on purchases at OPEN Savings(2) partners, such as Delta, FedEx Kinko’s and JetBlue. In addition, the Business Card provides expense management reporting, an online spend tracking system, and the ability to add spend limits to employee cards. TrueEarnings Business Cardmembers receive their annual cash rebate as a coupon that can be used for purchases or redeemed for cash at Costco warehouses around the United States. There is no fee for this card with a paid Costco membership.
American Express and Costco Strengthen a Growing Relationship
In 1999, American Express and Costco launched their first co-branded cards – the American Express(R) Costco Cash Rebate Credit Card and the American Express(R) Costco Business Charge Card. In April 2004, American Express and Costco announced a multi-year extension of their partnership that includes lines of credit from OPEN from American Express. In September 2004, the partners launched the TrueEarnings Cards for consumers and small business owners.
About OPEN from American Express
OPEN from American Express is dedicated exclusively to the success of small business owners and their companies. The OPEN Team supports business owners with unparalleled service. With tailored products and services, the team delivers purchasing power, flexibility, control and rewards to help customers run their business. Specifically, business owner customers can leverage an enhanced set of products, tools, services and savings, including charge and credit cards, convenient access to working capital, robust online account management capabilities and savings on business services from an expanded lineup of partners. To obtain more information about OPEN, visit http://www.OPEN.com, or call 1-800-NOW-OPEN to apply for a Card. Terms and conditions apply.
American Express Company (http://www.americanexpress.com) is a leading global payments, network and travel company founded in 1850.
About Costco Wholesale
Costco currently operates 508 warehouses, including 374 in the United States and Puerto Rico, 71 in Canada, 19 in the United Kingdom, five in Korea, four in Taiwan, five in Japan and 30 in Mexico. The Company also operates Costco Online, an electronic commerce web site, at http://www.costco.com.
(1) Each Eligible Purchase shall qualify for a Rebate of 5, 3, 2, or 1%, as follows: 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; 3% at restaurants; 2% for travel purchases from airline, lodging, car rental, cruise line, travel agency, and tour operators; or 1% on all other Eligible Purchases posted to your account. “Eligible Purchases” do NOT include returned purchases, Fees, Finance Charges, Cash Advances, Balance Transfers, purchase of American Express(R) Travelers Cheques, American Express(R) Gift Cheques, and other cash equivalents. Rebates are awarded every February in the form of an in-store coupon redeemable for merchandise or cash at any U.S. Costco Warehouse. To receive the rebate your account must be open and you must present the coupon at Costco prior to the coupon expiration date. Rebates less than $1 will be forfeited. Forfeiture rules for late payment also apply.
(2) Payment must be made with an American Express Business Card. OPEN Savings participation and offers are subject to change without notice. Terms and conditions apply. For more information please visit open.americanexpress.com/savings.