American Express and Costco Wholesale Unveil New TrueEarnings Card

- No-Fee Card Lets Cardmembers Earn Rewards from Everyday Purchases -

MARKHAM, ON, Feb. 22 /CNW/ - American Express Canada and Costco Wholesale introduce the TrueEarnings Card. This no-fee Credit Card is designed to offer consumers rich rewards on purchases made inside and outside of Costco, including on everyday items like gas, groceries and dining out, and with no maximum annual rebate, there isn't a limit to the amount of cash back Cardmembers can earn.

TrueEarnings Cardmembers can increase the amount of cash back they earn by charging everyday purchases to their Card. This robust and flexible rewards offering allows Cardmembers to earn a full 3% cash back at eligible restaurants, 2% cash back at eligible gas stations up to $3,000 annually and 1% thereafter and up to 1% cash back on daily purchases such as groceries. Cardmembers can then easily use their annual rebate toward goods, services or cash at Costco.

"We are incredibly pleased to further strengthen and grow our partnership with Costco," says Jennifer Hawkins, Vice President of New Product Development for American Express Canada. "Offering generous rewards on everyday purchases helps us ensure Cardmembers are earning more simply by using their TrueEarnings Card."

American Express continues to be the only Credit Card accepted at Costco's 77 warehouse locations across Canada. The introduction of the new TrueEarnings Card is the most recent milestone in the companies' long-standing ten year partnership.

According to Costco, the partnership with American Express is a great strategic fit. "We are committed to bringing our millions of members the highest quality products while ensuring they have access to rebates they deserve," says Lorelle Gilpin, Vice President of Marketing at Costco Canada. "American Express' focus on rewarding their Cardmembers is certainly in line with this strategy."

The Card includes standard American Express benefits such as Front of the Line access to entertainment events, as well as Travel Accident Insurance and the Buyer's Assurance(R) Protection Plan, which doubles the manufacturer's original warranty up to one additional year on eligible purchases charged to the Card.

Those interested in applying for the Card, should visit their local Costco, or apply online at americanexpress.ca/trueearnings.

The American Express Costco Cash Rebate Card will continue to be accepted by Merchants. Existing Cardmembers can elect to convert to the TrueEarnings Card.

    
    About American Express in Canada
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American Express in Canada operates as Amex Bank of Canada and Amex Canada Inc. Both are wholly owned subsidiaries of the New York based American Express Travel Related Services Company Inc., the largest operating unit of the American Express Company. Amex Bank of Canada is the issuer of American Express Cards in Canada. Amex Canada Inc. operates the Corporate Travel, Travel Services Network and Travellers Cheque divisions in Canada. American Express opened its first offices in Toronto and Hamilton in 1853 and now employs 3,700 Canadians coast-to-coast.

    
    About Costco
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Costco is the original membership warehouse club, founded in 1976 in San Diego. Costco currently operates 566 locations, including 77 in Canada, 413 in the United States and Puerto Rico, 21 in the United Kingdom, seven in Korea, six in Taiwan, nine in Japan, one in Australia and 32 in Mexico. The Company also operates Costco Online, an electronic commerce web site, at www.costco.ca and at www.costco.com in the US. As the leading membership wholesale club, Costco serves over 58 million members worldwide by bringing them top quality brand name merchandise at low wholesale prices.

For further information: Jessica Myers, American Express Canada, Tel: [phone], E-mail: [email protected]; Lorelle Gilpin, Costco Wholesale, Tel: [phone], E-mail: [email protected]