The Costco TrueEarnings Credit Card From Amex UK Is No Longer Accepting Applications

May 28, 2019

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American Express UK has announced that it’s no longer accepting new applications for its Costco TrueEarnings American Express Credit Card.

The card was designed for those customers who may already regularly shop at Costco, noting there are only a few dozens locations across the United Kingdom versus many hundreds in the United States.

The card was attractive for such customers — there was no annual fee and it had a potentially generous cashback structure:

  • 3% cashback on most dining (with no limits)
  • 2% cashback on most travel bookings (with no limits)
  • 1% cashback at Costco and elsewhere (to a maximum of £300 each year)
  • An additional 1% cashback at Costco for Costco Executive members

However, there was no welcome bonus of cashback (or rewards points), and the process of awarding the cashback was clunky. Whereas most cashback cards would simply apply the cashback you have earned to your statement each month, reducing the balance payable, this card would send you a paper voucher once a year for the full value of all cashback you have earned for the period. This means you would need to wait all year in order to utilise your rewards.

For those customers who already hold the card, you can still continue to use it as normal. It is only new applicants that will be unable to apply for it. If you are looking for an alternate cashback option you may wish to consider the Platinum Cashback Everyday Credit Card from American Express UK.

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