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Amex Air Miles to Amex Costco help..

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  • Jan 15th, 2009 9:24 pm
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Dec 22, 2007
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Gatineau, QC

Amex Air Miles to Amex Costco help..

Hello everyone,

I currently own an [rfdlink=17]American Express[/rfdlink] Air Miles with 12.99% interest rate. My balance on this card is 2000$

Since im a newly Costco customer and that I don't really accumulate air miles, I was thinking of switching to the Costco card.


1- If I ask [rfdlink=17]AMEX[/rfdlink] to switch me to the costo card, will I be able to keep the 12.99% interest rate ?

2- If I change to costco card, can I do a balance transfer of my [rfdlink=17]amex[/rfdlink] air miles to the costco at their 6 months 3.99% or that would be only for new customers coming from VISA/MC ?

I plan to pay my 2000$ balance this month, but getting the 6 months at 3.99% would be nice..

Thanks for the help!
6 replies
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Mar 6, 2005
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SpykeYs wrote:
Jan 15th, 2009 3:54 pm
Hello everyone,

I currently own an American Express Air Miles with 12.99% interest rate. My balance on this card is 2000$

Since im a newly Costco customer and that I don't really accumulate air miles, I was thinking of switching to the Costco card.


1- If I ask AMEX to switch me to the costo card, will I be able to keep the 12.99% interest rate ?

2- If I change to costco card, can I do a balance transfer of my amex air miles to the costco at their 6 months 3.99% or that would be only for new customers coming from VISA/MC ?

I plan to pay my 2000$ balance this month, but getting the 6 months at 3.99% would be nice..

Thanks for the help!
1) Unfortuantely no, you will have to apply for the Costco card separately. AMEX does not allow product transfers. The only time you can migrate is if it's the same type of card. For example you can upgrade to the Air Miles Platinum since it's also an Air Miles card. The same goes for Aeroplan, you can upgrade to any Aeroplan card but you cannot switch to Air Miles or Costco.

You can however keep both cards if you are approved for the Costco one.

2) When you apply and get approved you will recieve the same balance transfer offer that is part of the new card offer package. Your Air Miles standard interest rate will not carry over to the other card.
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Jun 14, 2003
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SpykeYs wrote:
Jan 15th, 2009 3:54 pm
Hello everyone,

I currently own an American Express Air Miles with 12.99% interest rate. My balance on this card is 2000$

Since im a newly Costco customer and that I don't really accumulate air miles, I was thinking of switching to the Costco card.


1- If I ask AMEX to switch me to the costo card, will I be able to keep the 12.99% interest rate ?

2- If I change to costco card, can I do a balance transfer of my amex air miles to the costco at their 6 months 3.99% or that would be only for new customers coming from VISA/MC ?

I plan to pay my 2000$ balance this month, but getting the 6 months at 3.99% would be nice..

Thanks for the help!
1. You can't switch. You need to apply a new one as the above post said.
1b. If you decide not to join Costco in the future, you will also lose this Costco Amex once you stop your Costco membership. Are you okay with that?

2. You may not be able to do balance transfer from a Amex account to another Amex account directly. The idea of balance transfer is to attract you move your debt from another company to Amex. They should (or may) have fine print saying you can't do that from another Amex account.
Too many people spend money they haven't earned to buy things they don't want, to impress people they don't like. -- Will Smith
Growing older is mandatory. Growing up is optional.
Stay hungry, stay foolish.
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Just so you know - you don't sound like you spend much on the Amex - you have to charge over $25,000 / year on the Costco Amex for your cash back bonus to surpass the value you get from the Airmiles Amex card.

This is because the rate of return for Airmiles to gift cards, assuming a 1/$20 air mile earn rate, works out to be 1.4% (several merchants sell $20 gift cards for 140 air miles, including essentials like groceries).

When you do the math on the Costco Amex, you wil see that after you spend $25,000, your rebate will only be $20,000 * 1.5% + 3000 * 0.5% + 2000 * 0.25%, or $300 + 15 + 5 = $320, which is 1.2% of $25,000.

I can't take the itme to figure out the EXACT point it becomes better to get the cahs back rebate, but I know it is > $25,000 / year.
To be nobody but yourself - in a world which is doing its best, night and day, to make you everybody else - means to fight the hardest battle which any human being can fight; and never stop fighting. -- E. E. Cummings
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brunes wrote:
Jan 16th, 2009 2:14 am
Just so you know - you don't sound like you spend much on the Amex - you have to charge over $25,000 / year on the Costco Amex for your cash back bonus to surpass the value you get from the Airmiles Amex card.

This is because the rate of return for Airmiles to gift cards, assuming a 1/$20 air mile earn rate, works out to be 1.4% (several merchants sell $20 gift cards for 140 air miles, including essentials like groceries).

When you do the math on the Costco Amex, you wil see that after you spend $25,000, your rebate will only be $20,000 * 1.5% + 3000 * 0.5% + 2000 * 0.25%, or $300 + 15 + 5 = $320, which is 1.2% of $25,000.

I can't take the itme to figure out the EXACT point it becomes better to get the cahs back rebate, but I know it is > $25,000 / year.
That is not 1.4%.

$20 / (140 x 20) = 0.714%
Too many people spend money they haven't earned to buy things they don't want, to impress people they don't like. -- Will Smith
Growing older is mandatory. Growing up is optional.
Stay hungry, stay foolish.
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gman wrote:
Jan 16th, 2009 2:21 am
That is not 1.4%.

$20 / (140 x 20) = 0.714%
You're right... Hrm, so I guess it is probably closer to around the $10,000 mark.
To be nobody but yourself - in a world which is doing its best, night and day, to make you everybody else - means to fight the hardest battle which any human being can fight; and never stop fighting. -- E. E. Cummings
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