It’s Costco rebate time



I have an American Express Costco card that I use for pretty much everything. It acts as both my Costco card and my American Express, and returns between 1 and 3 percent back each year in the form of a rebate. I usually forget that the rebate is coming, so that makes a pleasant surprise.

I got my rebate the other day and noticed that it says “Please detach your rebate coupon and use at Costco!”. When I logged in to the American Express site, it had a couple of blurbs about “Rebate Ideas and Inspiration” — little stories about what people have spent their rebate on. It’s pretty clear that they’d like to encourage people to spend the rebate, ideally at Costco. Which makes sense. It just seems like more and more, getting a rebate is associated with spending or stimulating the economy.

However, turning the rebate coupon over reveals the rebate instructions/terms and conditions. One of those says, “Coupon may be redeemed for goods, services, cash or cash equivalent at Costco Wholesale.”

I plan to go right down and cash mine at the checkout. Sure, I might spend it. Maybe even at Costco. (I keep eyeing those little netbooks. They look so cool, and I could easily rationalize a use for one.) But I like having the option of popping that money into savings or investments as well. I like having the cash in my hot little hands, and having the choice.

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Posted in Spending money on Feb 16, 2009

5 Responses to “ It’s Costco rebate time ”

  1. # 1 Steve.M. Says:
    February 16th, 2009 at 8:07 am

    I have the Costco/Amex card and am also an executive member. Although this type of membership costs $100.00, you get a percentage back as well. I have gotten a rebate from Costco for at least $100 each year since I have had that membership type which covers the whole cost of my membership. The first year I got both rebates I bought a long wished for dSLR. I found out last year that you can cash the rebates at the membership counter and plan to do that today.

  2. # 2 Ashley @ Wide Open Wallet Says:
    February 16th, 2009 at 8:41 am

    OMG I had no idea you could cash it. We just got ours too and I thought you had to spend it there. Which is fine… I was just going to get groceries and then I’d have the cash I would have spent to do what I want with. But that makes it much easier.

    Thanks for the heads up.

  3. # 3 Dave Says:
    February 25th, 2009 at 10:10 am

    Even if you want to spend the money at Costco, it is in your best interest
    to cash the check, and then put your purchase back on the card.
    That way you start earning your rebate for 2010 on those credit card
    purchases.

  4. # 4 Joe Says:
    March 23rd, 2009 at 12:25 pm

    American Express Costco TrueEarnings Card – Problems receiving my Costco rebate coupon!

    I am an American Express Costco TrueEarnings Card member and I am upset that I have not yet received my Costco rebate coupon, which was supposed to be mailed to me during the first week in February, which is now over six weeks ago!

    I have made three separate calls to the American Express Customer Service Department asking them to send me the rebate coupon, but I have been getting the runaround.

    The first time I called (which was on February 23rd), I was told that I had to wait at least a month from the date that the coupon was issued before I could request a replacement. The second time I called (which was on March 6th), I was told that a replacement coupon would immediately be sent out and I would receive it within a week. The third time I called (which was on March 20th), I was told that I would have to wait another two weeks (no earlier than April 6th) before I could request a replacement of the replacement coupon!

    I have verified that American Express has my current mailing address and telephone numbers on file.

    This is outrageous! If it weren’t for that fact that I would lose the $69.00 coupon if I were to cancel my account right now, I would tell American Express to take their card and shove it!

    I want American Express to IMMEDIATELY issue me my Costco rebate coupon. I do not wish to wait another two weeks before they will issue me a second replacement of the coupon which I should have received over six weeks ago!

  5. # 5 Bluntmoney Says:
    March 24th, 2009 at 8:11 am

    Joe, I don’t know if you get paper statements, but if you do normally the coupon is not sent separately. It is on one of the pages of your statement.

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