NEW YORK -- OPEN from American Express and Costco have announced a new 5% annual rebate on gasoline at Costco Gasoline and standalone gas stations for TrueEarnings Business Cardmembers.
Each eligible purchase qualifies for a rebate of 5%, 3%, 2% or 1% as follows: 5% for purchases of gasoline at Costco Gasoline and standalone stations, excluding gasoline 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; [image-nocss] or 1% on all other eligible purchases.
American Express and Costco are committed to providing business-centric benefits to small-business owners. This new benefit makes the TrueEarnings 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 of OPEN from American Express, said, Our most recent semi-annual survey of [small] 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 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.
In 1999, American Express and Costco launched their first co-branded cardsthe American Express Costco Cash Rebate Credit Card and the American Express 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.
Costco currently operates 508 warehouses, including 374 in the United States and Puerto Rico and 71 in Canada.
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