costco 5% off everything....

[mcewen]

my apologies if this has been brought up before....

I just returned from Costco and confirmed this is possible with Membership....

with the Executive membership, you get 2% back on all purchases. It comes back in the form of a "cheque" once each year. ("executive rebate")

With a Costco AMEX card you get 1% back on costco purchases. ("Amex rebate"). It comes back once per year in the form of a "costco cheque" also. (I am pretty sure).

Here is what you do

Buy a $1000 costco cash card.
Pay with your costco Amex.

You have so far "earned" 2% "executive rebate" + 1% "amex rebate" on the $1k purchase.


Next...buy your "stuff"... assuming you purchase $1K worth of product.. you go to the cash.. present your executive membership card.. and pay for the stuff with your cash card.

You get 2% "executive rebate" based on the value of the products you purchase.

Total rebate: 5% on all purchases!


Now... I wonder if you can buy a cash card... then buy more cash cards and pay for it using your existing cash cards... and keep doing it over and over again... each time reaping 2% rebate on the total purchase.

It is like those $3 Esso fill ups all over again for the Aeroplan promo!.

[Manatus]

You don't get 2% back on Costco Cash cards.

http://www.costco.ca/Images/Content/...March-2010.pdf

You can however get a higher return by using the Cash cards if you have a credit card that gives you more than 1% back, since costco.ca allows you to use Visa/MC cards and not just Amex. So if you have a 2% (or whatever) back credit card, you can use it to buy a Cash card online and then get another 2% from your Executive Membership when you spend it in store.

[heyjoe]

http://www.costco.ca/Images/Content/...March-2010.pdf

Items that fall into the following categories are not eligible for the 2% Reward
Excluded in all provinces:
.
.
.
- gift certificates and Costco Cash electronic gift cards



edit: jinx

You don't get 2% back on Costco Cash cards.

http://www.costco.ca/Images/Content/...March-2010.pdf

You can however get a higher return by using the Cash cards if you have a credit card that gives you more than 1% back, since costco.ca allows you to use Visa/MC cards and not just Amex. So if you have a 2% (or whatever) back credit card, you can use it to buy a Cash card online and then get another 2% from your Executive Membership when you spend it in store.

[mcewen]

sorry then.. my bad.
I was misinformed by the Membership Desk rep....

sorry.

[Manatus]

sorry then.. my bad.
I was misinformed by the Membership Desk rep....

sorry.

No worries. Hey, if there was an actual way to get extra discounts/cash back at Costco, it would probably be the hottest thread on RFD. Even moreso than the free Nestea and Lenovo price errors.

[Dwight10]

So, on which items i can get 2% reward? Please tell me about it. I want to take that opportunity.

[Catherine111]

So, on which items i can get 2% reward? Please tell me about it. I want to take that opportunity.

Yeah i also want to know!

[jzmtl]

I thought it was everything, as long as you have the black exec card.