Monday, February 15, 2010

A big bonus for eating out

NEW YORK - NOVEMBER 13:  People shop inside of...Image by Getty Images via Daylife

I just received a rebate check for more than $270 from my True Earnings American Express Card, the same one I use at Costco. When I visit the warehouse store in Hackensack today, I'll use the check to pay for my purchases -- likely under $100 -- and will receive the balance in cash. (Photo shows new Costco in Manhattan).

The True Earnings card returns 3% when you use it to pay for a restaurant meal and 2% for travel expenses, such as airline tickets. There is no annual fee.

About half of my $270 is from restaurant meals and take-out. I would also get an additional 1% for Costco purchases, but usually use the Blue Cash Card from American Express because it returns another quarter of a percent, plus 5% back on supermarket (ShopRite, not Costco) , gasoline and pharmacy purchases after you've charged $6,500 with that card.

My Costco Executive Membership costs $100 a year, but a 2% Costco rebate on purchases easily covers the fee every year. Good, often great, food at decent prices, plus cash back. What more could you want?

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