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Commentaries |
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Credit Card Commentaries |
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American Express® Platinum Cash Rebate Card (Costco)
Issued by American Express |
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| Total Posts: 26 |
Average Rating:
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Category: Reward - Cash |
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Showing 1 - 10 of a total of 26 Commentaries |
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1-10 | 11-20 | 21-26 |
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| "Loanshark rates" |
| Had this card for 11 years with no complaints. Been traveling a lot lately & made a late payment. AMEX informs me my interest rate is now 27.24%. I actually didn't know companies could charge those kind of rates. If I didn't need this card for Costco I would have already canceled it. |
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| Most attractive feature: Cashback |
| Least attractive feature: Interest rate!!!!!! |
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| Posted by: LReed |
| Date: 8/1/2011 |
Recommend?  |
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This person does not recommend this card.
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| "Finally Financially Mature!" |
| This card is awesome, we use it to do all our shopping at Costco and pay our company bills and end up with $500.00 cash back at rebate time! We pay our entire monthly balance early and have never had a problem. Years ago we were terrible about our finances, now I keep track of all income and expenses, it seems like magic to me how some self discipline changes things. This card really works for us! |
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| Most attractive feature: Can be used at Costco, great cash rebate. |
| Least attractive feature: Can't think of even one. |
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| Posted by: Jane |
| Date: 1/6/2011 |
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This person does recommend this card.
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| "Failed me after 7 years of loyalty" |
I've had the card since they began offering it. Use it for all of my monthly expenses. Annually over $30,000 (yes - 30K). Pay every bill in full each month, and on time.
2 months ago, I was traveling abroad, completely spaced on the payment, and now they raise my APR by 10% and give me the option to close the card account - which I will do. Not upset, just very disappointed. They expect "loyalty" and give us this. They are all the same unfortunately. I'm switching to Chase Sapphire. |
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| Most attractive feature: Cash back rewards |
| Least attractive feature: Stringent APR & payment rules |
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| Posted by: Kris |
| Date: 10/17/2009 |
| Recommend? |
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This person does not recommend this card.
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| "Good card if you do not carry a balance" |
As others have said, this is currently the only credit card accepted by Costco. The rebates are nice.
Although I generally do not carry a balance period over period, I discovered that AMEX is now charging average daily balance over two bill cycles if you carry a balance. So if you carry a balance over one bill cycle, pay off the balance the next cycle, you will still incur a finance charge for the third bill cycle even if no charges were made against the card in the third period. Essentially, you are paying double the finance charges. This is considered such a shadey practice that lawmakers are considering passing legislation to regulate this practice. It was surprising to see that an otherwise respectable credit card company would employ such a practice. |
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| Most attractive feature: Rebates |
| Least attractive feature: Double billing cycle |
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| Posted by: Matt |
| Date: 3/28/2007 |
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This person does not recommend this card.
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| "Bad customer service and treatment of good customers." |
My husband had a Costco American Express card as well as a gold American Express card.
He had a very high limit on his Costco American Express card to start ($5000).
He asked for a cash advance on his Costco American Express card instead of going to a check cashing place and paying an astronomical amount for a payday loan (he only borrowed $100).
After he got the cash advance from American Express, we went to the mall to go shopping and use the card for regular purchases. We tried to use the card in a department store, and to our embarrasment, the card was declined. My husband still had $3000 available on his Costco American Express card. We could not figure out why they were declining us.
We finally went and called them after being embarassed in a long line of people at the department store. The customer service representative informed us that our credit line of $5000 had been cut off that day.
We were not informed or told why our credit limit was cut off. We had to wait until the next day to speak with the customer service representative in the credit limits department. She was very rude to us and we had to be asked to be transfered to a supervisor. We informed the supervisor that we have made our payments on time every month and paid more than what they asked us to pay.
They gave us a lame excuse and insisted that the reason why they cut us off was because there were discrepences on my husbands credit report from 4-5 years ago. What was the point in even giving him the $5000 credit limit or the credit card for that matter without first fully checking his credit. What if we had been on vacation and were using our card?!!!
If that is the way they treat their loyal customers, I hate to see how they treat you if you are late on payments!!! |
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| Most attractive feature: Customer service stays open late and on weekends. |
| Least attractive feature: Customer Service, American Express card is not widely accepted at stores and businesses. |
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| Posted by: Renee |
| Date: 7/3/2006 |
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This person does not recommend this card.
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| "Cruise On Board Credit" |
When booking a cruise, I was told that if I used my "American Express Platinum" card, we would receive an on board credit - $300 - a free dinner, and a bottle of champagne.
When the travel agent tried to apply this credit, he was told that the "Costco American Express Platinum' card was not valid for use with this promotion.
If this is the case, all cruise lines should have been notified of this stipulation by American Express prior to allowing them to extend this offer to potential cruisers. When I inquired through Princess Cruise Line, they were not aware of any particular stipulations as to exactly which "American Express Platinum" card should be used for this purchase; only that it indeed did require a Platinum or higher. Ours is such.
We feel thoroughly ripped-off by this offer, as we would not have used the AM EX card to book otherwise.
In trying to rectify, or receive any satisfaction from AM EX, we only received standard answers, and left with the feeling that we as consumers should have known that our particular American Express Platinum card did not qualify for this offering.
Leaves us with a really uncomfortable feeling towards a companys so called "Offers". |
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| Most attractive feature: Must Have This Card To Shop @ Costco by Credit |
| Least attractive feature: I don't know |
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| Posted by: Sue |
| Date: 6/29/2006 |
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This person does not recommend this card.
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| "Great card." |
| I love Costco, and the AMEX seemed like the next best thing. The rebate program is great; although I don't really know how it is calculated. It normally pays for the membership fee and I like their online features. |
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| Most attractive feature: Its rebate! |
| Least attractive feature: I'm not really sure how they calculate the rebate. |
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| Posted by: Betty |
| Date: 5/17/2006 |
| Recommend? |
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This person does recommend this card.
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| "Costco AMEX only good for Costco members" |
When we applied for the card, it was a 'federal' investigation as to why we wanted the primary
card holder to be my wife and to send the bill to a PO Box. We gave them all the information they needed to have. They explained that it was the USA Patriot Act that was the cause of the work to be investigated. I explained that ID theft occurs mostly from unattended mailboxes and that a PO
Box was safer. My bank and AMEX computer systems don't play well together either. It's amazing to me that if I pay early, it appears on the same day. If I pay on the day it's due, then magically
it shows up a day after the due date (generating late charges and interest).
To AMEX's credit, I was able to call them and have them retract the late charges and interest. I have them automatically deduct the minimum payment from our bank (which avoids late penalties), then pay the balance a few days before it is actually due. The rebate is okay, but Discover Platinum in general is better. Overall, if you are a Costco member, it is worth having the card, if not other options are better. Being able to use a card at Costco and the Costco fuel station is a worthwhile benefit. |
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| Most attractive feature: It works in Costco and the Costco fuel pumps which is the only reason we have it. |
| Least attractive feature: AMEX 'computer systems' are unfriendly w/bank, so I send e-payments 2 or 3 days in advance |
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| Posted by: Buck |
| Date: 11/19/2005 |
| Recommend? |
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This person does recommend this card.
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| "Don't use this card other than Costco" |
American Express provide terrible customer service. Some time, i don't get my statement on time and i have to call and find out my balance and pay them.
American Express cash back is also joke, You can't get 2% back. they have several level of spending limit.
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| Most attractive feature: Use at Costco |
| Least attractive feature: Customer Service/Number of Billing Day |
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| Posted by: Patel |
| Date: 3/26/2005 |
| Recommend? |
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This person does not recommend this card.
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| "Rebate does not add up" |
| Great card.It has almost all the benefits of regular Amex without annual fee and doubles up as Costco ID. The rebate however will never amount to 2% as it offers gradual percentages starting at .25% for the first $2000 and topping 1.5% for spending in excess of $5000. The only way it would come to 2% is if you revolve entire balance... |
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| Most attractive feature: Accepted at Costco. No annual fee. |
| Least attractive feature: Misleading advertising. |
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| Posted by: Kris |
| Date: 3/10/2004 |
| Recommend? |
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This person does recommend this card.
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Showing 1 - 10 of a total of 26 Commentaries
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1-10 | 11-20 | 21-26
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