Sunday, June 21, 2009

Cashing in on your love for food

Two credit cards from American Express give you cash back when you shop at supermarkets and eat in restaurants. Neither has an annual fee. I have collected thousands of dollars in cash rebates. I once used a Continental Airlines mileage credit card, but found booking the seats difficult or impossible.

The Blue Cash card from American Express gives you 5% back for purchases at supermarkets, gasoline stations and pharmacies once you've spent $6,500 on the card. For purchases at Costco, you get 1.5% back. All other purchases give you 1.5% back, not the usual 1%.

The True Earnings card, which is also a Costco card, gives you 3% back on restaurant meals, 2% on hotels and rental cars, and 1% everywhere else, including Costco. If you are an executive member at Costco ($100 annual fee), you'll get another 2% back from the warehouse store. Yesterday, I received $167.66 from Costco. Bon apetit!

(The original post described the second card incorrectly as the True Value card.)

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