A few days ago I was given a Costco Citi Card with a zero percent introductory interest rate. Now, I had no problem getting a card when I worked for a major company, and I even applied for one when I left that company. Costco did not offer major credit cards like American Express, Discover, or MasterCard, but they did offer a rewards card with a low, or zero, interest rate. I was very interested in this offer.
I have always shopped for and accepted MasterCard and Discover Credit Cards in the past, but I have never applied for or received a Costco cash back card before. I thought to myself, “There has to be a reason why Costco is offering me this great deal, and it isn't to get me in their good books.” After searching the web for information on the Costco cash back card, I discovered that the reason was quite simple. Costco owns MoneyGram, a plastic card that is used like a gift card. When I applied for a card at the same bank where I do my banking, they would deny my application for a reason, so I needed to look elsewhere.
The second card I was offered had a high credit limit and a low interest rate. Again, I was interested in this deal because I wanted to earn a higher interest rate than I currently pay on my MasterCard and Discover cards. Since I already had a Costco membership and knew that I could use my rebates on this card, I decided to apply. I really enjoyed having the cash back reward, plus the lower credit limit, but the interest rate on the card was a little too high for my liking.
After doing some research on the internet, I learned that MoneyGram does not actually issue any cash back cards. Instead, they provide you with a plastic card that you can use to make purchases at their retail stores. You must have a checking account to be approved for the card. There are also different types of cards that can be used at their stores; a personal card, business card, or a combination of the two. After visiting their website, I noticed that there were only a few offers available on the MoneyGram site and none of them were the Costco cards.
My next stop was the Discover Card website. Here, I was offered the opportunity to compare the various cash back offers that the MoneyGram was offering. It was very easy to compare all of the cards, since all of the rates, offers, and conditions were clearly displayed. I was able to see that the Costco cash back card offered the best cash back percentage, while the personal card offered me the most bang for my buck. Between the cash back percentage, low interest rate, and the generous spending limit, I was very pleased with my decision to obtain the MoneyGram card.
Now, I had to select which card I wanted to apply for. There were actually a couple of different options, but they all had the same basic requirements: The card needed to be from either American Express Discover, or MoneyGram. After filling out the application, I was able to download my card immediately. I then went to the MoneyGram store to check my actual balance, to make sure that the monthly payment would fit my budget.
Upon picking out my new card, I was met with a lot of enthusiasm from both my husband and son! We were even more excited when we found out that I was able to use my card at the store, and even use it online. Now, I was able to complete all of my shopping at home, and my husband and son could use their new card at the computer!
I have to admit, receiving my new card was one of the best moments in my life! Not only did I receive cash back for every purchase I made, but I also got to keep money in my account to save for a vacation or a trip. It was such a great financial opportunity! Plus, I was given such a great offer to get cash back on my Costco Citi card, that I decided to use it to pay for my wedding! This gave me extra money to make arrangements for.
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Many people will know what Costco is but not many will have heard about the Costco member credit card. They have been known for some time as being the place to go to buy all sorts of products at discount prices. Costco regularly comes out with sales of their own products at amazing prices, ...
When you are looking at a Costco credit card and you see all the bonuses and low rates, you may just want to apply right away. But do you need a Costco card to use in Costco? Is this a Costco card that you want to apply for? Before you make the decision, you ...