jturner02

deshi - You are reading it correctly. $5/month on gas/auto. Combine that with the recently changed terms increasing the minimum redemption for cash back to $50 from $20 and it will take you 10 months to get enough to redeem. Note that you can still redeem for gift cards starting at $20. Also, you do receive cash back for other purchases, but it starts at 0.25% for the first $3000 in annual purchases (not including any purchases that earn the 5%)

To comment on previous posters:

1. The $500 yearly limit is for the Costco 2% Executive Bonus (not a part of this card). This card does not have a limit on the amount of cash back you can earn.

2. You can redeem the yearly check for cash by going to a register and cashing it in. The check even states you can redeem for cash. The Executive Membership 2% Bonus (not part of this card) cannot be redeemed for cash.