Editor's Note: Thank you for your interest, this offer expired and is no longer available.

Question: Do I have to pay my balance in full with Costco American Express?

Answer: Although there are a few credit cards available from Costco, the most common card is the True Earnings Card from Costco And American Express. (American Express is a CardRatings.com advertiser). Unlike some American Express cards that require the balance for each statement cycle be paid in full, this card extends credit beyond the 30 day statement.  It also offers a robust rewards program that includes cash back: on gasoline at U.S. stand-alone gas stations, including at Costco; purchases at U.S. restaurants; eligible travel purchases, including at Costco; and cash back on other purchases. Cash back is earned only on eligible purchases and cash back is issued in the form of an annual reward coupon. With this offer spend cap and other restrictions apply.

However, by the way you've phrased your question, I want to be sure to point out that you should read the terms and conditions of any credit card offer before applying or contact American Express so you don't run into a problem.  However, if there is an interest rate listed, that would mean you can make partial payments and carry a balance from statement to statement. Many American Express cards are charge cards and do not offer such revolving credit, so you pay the full balance upon receipt of the statement.

If you already have the card and still have any uncertainty, I strongly advise you to contact American Express and find out exactly what type of credit card you have and what the payment requirements are. If it is not what you want, make certain to pay off the balance and then simply do not use it. Of course, if there is an annual fee, you will have to pay that each year or cancel the card.

American Express has a variety of cards including the ones from Costco, but as with any credit card, you should know exactly what you are getting before you sign up for it. With every credit card application make certain to check the disclosures about annual fees and interest rates. And don't be lured into applying for or accepting any card based strictly upon a great promotional offer. Promotional offers are designed simply to entice you, and once they expire, you could be unpleasantly surprised by what you have actually agreed to.

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