Verdict: The TrueEarnings® Card from Costco and American Express is an excellent cash back credit card for people who want to be rewarded on every purchase that they make. It is essentially two cards in one because it is not just a cash back credit card; it's also a Costco membership card.
We believe the American Express Cobalt Card is a great credit card for many Canadians. With its impressive 30,000 points welcome bonus, $100 USD annual hotel credit, complimentary hotel room upgrades, comprehensive travel insurance, and best-in-class earn rates, it's hard to go wrong with a Cobalt Card.
Why The Platinum Card® from American Express is better
The Chase Sapphire Reserve® can be a tremendous value and just might be the best premium credit card for a wide range of spending that includes travel.
In 2016 Costco decided to drop its relationship with AmEx in favor of Citi Visa. stores want more money in its pockets. American Express charges stores, or merchants, higher fees than other credit card networks like Visa, Mastercard, and Discover. Costco used to take American Express only.
Centurion® Card from American Express
Why It's One of the Most Exclusive Credit Cards: The most exclusive, prestigious credit card is without a doubt the American Express Centurion Card, otherwise known as the Amex Black Card. That's because it's the most famous.
If you're a high spender, though, the points you'll rack up can be well worth it. You'll get at least a $5,000 credit limit with this card, and some people report a high limit of $100,000. This card requires good credit and the annual fee is $95.
Centurion® Card from American Express
Why it's one of the hardest credit cards to get: The hardest credit card to get is the American Express Centurion Card. Known simply as the “Black Card,” you need an invitation to get Amex Centurion.
JP Morgan Chase Palladium Card
The JP Morgan Chase Palladium credit card is made of laser-etched palladium and gold, and it is reserved for consumers who have a relationship with JP Morgan's private bank, wealth management, or investment bank.
Why can't every store accept American Express cards? The answer is simple: stores want more money in their pockets. American Express charges stores, or merchants, higher fees than other credit card networks like Visa, Mastercard, and Discover.
The Chase Sapphire Preferred only charges $95 per year. Of course, the Amex Gold does come with higher earning rates and more perks and credits to help offset the cost of the annual fee. But if you aren't spending enough to offset the cost of the Amex Gold, you may want to go with the Chase Sapphire Preferred.
Costco no longer accepts American Express cards. However you can also pay for your goods with cash or checks or debit cards.
Since Costco has a contract with Visa, shoppers can't use credit cards backed by the other three main networks, American Express, Mastercard or Discover, at Costco warehouses. However, you're able to pay with Mastercard and Discover cards for purchases made at Costco.com and the Costco app.
The big transfer date is June 20, 2016. On that date, Costco will stop accepting American Express cards and instead will take only Visa cards (plus the usual checks, cash and debit cards). And those Costco American Express cards will cease to work, in Costco and anywhere else.
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