Costco is a haven for many families all over the world thanks to its affordable rates and lack of trappings. Inexpensive bulk purchases made with a Costco Gold Star Membership card add up to significant savings for many shoppers.
Almost no one thinks about whether or not they would actually save money by switching to an Executive Membership.
Types of Costco Executive Memberships
Gold Star Membership
With only one membership card and an annual fee of $60, you can shop at any of Costco’s warehouses or online at Costco.com. The process of becoming a Gold Star Member is simple and quick.
Gold Star Executive Membership
In addition to all the other benefits of a Gold Star membership (worth $120), members also get a reward on purchases that qualify.
Three months before your membership is up for renewal, Costco will give you a gift card worth 2% of what you spend each year.
The prize money can never be more than $1,000. Spend more than $3,000 a year at Costco, and the $80 fee for the Executive membership will pay for itself.
If you own a business and plan to buy in bulk to resell, you can sign up for the Business membership for $60 a year.
This membership requires proof of business ownership, such as a business license or resale certificate, before the application is processed.
There is a yearly fee of $60 per affiliate that can be added to a business membership.
Comparison of Gold Star and Executive Level Pricing
What to anticipate as a new customer or while upgrading your membership. A standard Gold Star membership costs $60 per year.
You’ll need a membership to shop inside the warehouse, but anyone can browse the outside aisles. If you know the appropriate individuals, you may get discounts on goods like medicines, alcohol, and even food court staples like pizza and hot dogs.
Executive memberships at Costco cost $120 annually, which is twice as expensive as Gold Star memberships. But there are other ways to make sure your money is well spent.
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There is a “risk-free 100% satisfaction guarantee” that allows you to get a full refund on your membership fee at any time if you aren’t happy or aren’t using the benefits to their full potential.
Depending on the number of months left on your current membership, upgrading from Gold Star to Executive could cost less than $60
The cost of an upgrade is proportionally distributed over the remaining number of months of your current membership.
Executive Membership Perks
The main perk of a Gold Star Executive Membership is the 2% annual return on nearly all purchases (up to $1,000) made at Costco.
With your annual renewal letter, Costco will enclose a certificate for the equivalent of two percent of your membership fee. For most things at the cash register at a Costco warehouse, the certificate can be used as payment.
Following purchases are not eligible for the 2% incentive:
- Products containing nicotine, such as cigarettes
- Gift Cards for Costco (gift cards)
- Stamps for mail
- Alcohol (in certain states)
- Purchases made in the food court
- Investment Costs
It’s important to remember that while Costco travel purchases do earn the 2% incentive, not all travel-related expenses do. Resort fees, trip insurance, and any other extras are included.
You may save money on services like check printing and identity theft protection with your Costco Executive Membership, the company says.
The 2% Bonus
If you shop at Costco frequently, you may want to do some math. Review your typical spending habits before you determine if the 2% rebate is worth the additional cost. Team Clark would hate to see you miss out on potential financial gains like the ones we’ve described.
Get Your 2% Bonus
You will receive a certificate in the mail with your 2% incentives roughly two months before your membership renewal date if you are already a member.
To find out when your Costco membership is up for renewal, log in to your account on Costco.com or the Costco app, or contact your nearest warehouse directly.
Make Use Of Your 2% Bonus
Using your rewards is easy, just present the certificate to the cashier at your local warehouse.
To apply your rewards online at Costco.com, you must first obtain a Costco Shop Card from a warehouse.
Costco Executive Membership Worth It?
If you spend more than $500 per month or $6,000 per year on qualifying goods at Costco, it is worth the $120 annual price for the Executive card. It is the precise amounts required to earn $120 in rewards and cancel out the additional cost of membership.
Costco Executive Membership is money well spent if you have a big family. If you make multiple large supermarket purchases each month, the $500 food budget is easily met.
You may maximize your membership by stocking up on food, toilet paper, skincare goods, and bath and body products.
It’s also a good investment if you or your family plan to make frequent trips to Costco or buy major home goods like televisions, refrigerators, dishwashers, washing machines, and dryers.
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