I've been a Costco member for 8 years, and one little-known perk makes it more than worth it (2024)

FAQs

How much do you have to spend at Costco to make Executive Membership worth it? ›

Key points. A Costco executive membership costs twice what a regular membership costs. It also puts cash in your pocket that could make that higher fee worth paying. If you spend at least $3,000 per year at Costco, an executive membership will pay off for you.

The decision to upgrade your Costco membership or not should really be a simple one. If you'll earn enough cash back to justify an executive membership, go for it. Otherwise, stick to the basic plan if it works out better financially for you.

Costco doesn't offer free memberships, but there are several ways you can still save. If you have a friend with a Costco membership, ask them to buy you a Costco Shop Card. It'll be mailed to you with a zero balance, but you can add money to it.

Executive Members earn an annual 2% Reward (up to $1,000) on qualified Costco, Costco.com and Costco Travel** purchases, as well as greater discounts on Costco Services, such as lower prices on check printing and identity protection, and free roadside assistance for vehicles covered through the auto insurance program.

You'll get 4% back on eligible gasoline purchases for the first $7,000 per year and then 1% thereafter. You'll also earn 3% on restaurants and eligible travel purchases, including Costco Travel.

Annual 2% Reward

Executive Members can earn up to $1,000 every year on qualified Costco, Costco.com and Costco Travel purchases. * The annual 2% Reward is mailed with the renewal notice, two months before the member's renewal date. The best part? The annual 2% Reward never expires.

Free Executive Membership

And if you work for Costco for more [than] 25 years [and retire, you get] a lifetime membership card."

A basic Gold Star membership at Costco costs $60 annually ($120 for the Executive tier), so you would need to save at least $60 in purchases for your membership to be worth it. Costco is famous for its deep markdowns and overall lower prices on anything from mixed nuts to widescreen TVs.

Costco membership is $60 a year. An Executive Membership is an additional $60 upgrade fee a year. Each includes a free Household Card. Please include sales tax in all applicable states.

Unfortunately, Costco does not offer any free or discounted memberships for seniors, meaning that senior shoppers still have to pay full membership fees. The starting cost of a Costco membership is $60 per year, which gets you access to a Gold Star membership.

Can I use someone else's Costco card? ›

The Costco membership card is non-transferable, but there are several ways to share the experience with family and friends. Anyone with a card can bring up to two guests to the Warehouse during each visit. Keep in mind that purchasing items is exclusive to Costco members.

Costco does not offer free shopping passes. When you visit a Costco warehouse, you'll discover all the valuable savings we have to offer. As a nonmember, you may still purchase prescriptions from a Costco pharmacy with cash, debit, Costco Shop Cards or a Visa® card.

How much does an Executive make at Costco Wholesale in the United States? Average Costco Wholesale Executive hourly pay in the United States is approximately $16.00, which is 24% below the national average.

How much does a Costco Vice President make? As of Jan 9, 2023, the average annual pay for a Costco Vice President in the United States is $136,944 a year. Just in case you need a simple salary calculator, that works out to be approximately $65.84 an hour.

The Reward will be mailed to you approximately 2 months before your renewal date in a Renewal Statement. This will reflect rewards earned up until the issue date. Once your Reward is issued, your Costco.com account will show the estimate of your next Reward.

The $120 annual fee for the Executive card is worth it if you spend more than $500 a month, or $6,000 a year total at Costco on eligible purchases. This is the exact amount to break even on the extra yearly membership fees. Most purchases online and even the trips and bookings you make via Costco Travel qualify.

The 2% Reward is issued approximately three months prior to the member's renewal date, in the Renewal Statement, and reflects the Reward earned up until the issue date. A member must be a current, paid Executive Member at the end of the membership year to be entitled to the Reward.

If you shop at Costco a lot, the card is worth getting, because it gives you 2% cash back on Costco purchases. It also gives you 4% cash back on gas, whether you fill up at a Costco station or another station.

Does Costco or Sam's Club Have Better Prices? Overall, the prices at Costco tend to be cheaper. However, Sam's Club has a greater selection of name-brand products and a cheaper membership fee.

Your Gold Star Membership is valid for one year at any Costco location worldwide, and at Costco.com. All memberships must be renewed annually. Once you purchase a membership, a membership number will be emailed to you within 2 business days.

Do you get a pension at Costco? ›

Costco is ranked within the top 10 Fortune 500 companies and as such offers its employees a wide range of benefits and competitive salaries. Retirement Benefits: 401(k) plan and defined contribution pension plans. 50:50 matching on employee contributions.

How Often Do Costco Employees Get a Raise? The company gives full-time workers two raises per year and one raise per year to part-time workers. Employees are also eligible for bonuses based on their performance and individual contributions to the company.

Costco Membership Prices in 2022

Members can enroll in one of the following membership programs: Gold Star Membership: $60 per year. Business Membership: $60 per year. Executive Membership: $120 per year.

Costco is known for its cheap products, including gas. Getting gas at Costo may not be worth the savings based on a number of factors. Costco's notoriously long wait times, inconvenient locations, mandatory credit card use, and membership fee may not be worth the price.

Speak with a team member at any warehouse membership counter and receive an immediate refund, or... Call our Member Services Center at 1-800-774-2678.

There are two types of Costco memberships: Standard: Costco's base membership tier, called Gold Star, is $60 annually. Executive: The Gold Star Executive membership is $120 a year. Executive members get an annual 2% reward (up to $1,000) on qualifying Costco, Costco.com, and Costco Travel purchases.

In addition to their own membership card, Primary members (and Affiliate members on Business memberships) receive one free Household Card they can assign to someone over the age of 18 who lives at the same address.

A basic Gold Star membership at Costco costs $60 annually ($120 for the Executive tier), so you would need to save at least $60 in purchases for your membership to be worth it.

Because Costco doesn't mark up name brand items more than 14% and Kirkland brand items more than 15%. (Compared to a 25% markup at grocery stores and a 50% markup at retail stores!) In order to break even at Costco (assuming a $60.00 per year membership), you have to spend at least $600.00 per year.

Should I upgrade to Executive membership at Costco? ›

We've already shown that a Costco membership is worth its savings, even with a conservative grocery spend, but you might consider going directly to the Executive level if your discounted total is consistently above $250 per month.

Ultimately, if a single person can comfortably afford the $60 membership and has the room to store items purchased in bulk, then it makes sense for them to become a Costco member. Those short on spare storage shouldn't slink away from the store just yet, though.

Average Costco Wholesale Store Shopper yearly pay in the United States is approximately $420,000, which is 701% above the national average.

Every time Costco stocks a new batch of freshly cooked rotisserie chickens for your taking, they ring a bell. What is this? Therefore, if you so happen to be walking around Costco shopping and hear a bell ring, make a mad dash over to the deli department to grab yourself a fresh rotisserie chicken.

The Costco membership card is non-transferable, but there are several ways to share the experience with family and friends. Anyone with a card can bring up to two guests to the Warehouse during each visit. Keep in mind that purchasing items is exclusive to Costco members.