This year we upgraded our regular Costco membership to an Executive membership.
I wanted to mention a few of the benefits to changing a membership plan in case you are also considering this move.
First the price difference- an Executive membership is $110. A regular membership is $55- so a $55 difference in price per year.
And what do you get for your $55:
The big perk is 2% back on annual purchases up to $750*.
So lets say you spend $200 per month at Costco- or $2,400 per year. You would get 2% back on your purchases in the form of a rewards certificate so $48.00.
If you spend $2,600 or more per year at Costco (and you might be surprised!)- this is something to consider. Once you hit about $2,600 in spending you will basically get back the extra $55 you are paying for the membership.
You will also get a household card for a spouse, domestic partner or other family member over 18 living in your home.
If you are on the fence about this, you might call (800) 220-6000 and just check and see what you spent last year. You can also visit the membership desk at your store. If you decide to upgrade, the $55 fee will be prorated according to when your renewal period is.
If you spend less than $2,600 and don’t quite hit that $55 mark to get the initial investment back, most stores will credit the difference back toward a downgraded membership. So say you hit $45 total as your 2% reward. Most stores will give you a $10 credit back on your next year’s renewal fee of $55 and you will just step down from the Executive membership to the standard Gold Star membership.
*The 2% does not apply to purchases of gas, tobacco products, Costco cash cards, postage stamps, alcohol (in the states of MI, GA, AL, KL, OH), the photo center, travel center etc…