How Much Does a Costco Membership Cost?
Considered to be the largest membership warehouse club chain in the United States, Costco memberships must be purchased in order to purchased items in the store.
How much does it cost?
- Found on the official site of Costco is the information about the types of membership one can choose: Executive, Business, and Gold Star. Each of these has its individual price.
- Business Membership costs $55 for the annual membership. The same price applies for the Gold Star Membership. The Executive Membership, on the other hand, is an upgrade option for those who initially had either of the two memberships. The payment for the Executive upgrade will be $55. However, it will be prorated based upon the months remaining in the current membership of the member.
- There is a way that you can take hold of the executive membership without having an upgrade. In reference to Costco.com, CoupleMoney.com states that a new signup for the Executive Gold Star Membership costs $110. This type of membership is available for those who want to take hold of the benefits of a Costco Gold Star Membership with the added value of an Executive Membership.
What is going to be included?
- A Costco membership allows the holder to take advantage of the cheaper prices resulting from the bulk sizes of most items in the store. There are also services such as a pharmacy, optical office, gas station, tire center, etc.
- As mentioned, there are three types of memberships that consumers could choose from Costco. Each of these has its specifics. As for the Business Membership, it is available to all licensed businesses, nonprofit organizations, government agencies, farmers and ranchers. Included in the $55 annual membership fee is a household card per primary membership. This membership card will need to be shown at the door to get into the warehouse as well as shown to the cashier in order to make any purchases.
- Those who are not eligible for the Business membership automatically fall on the Gold Star Membership, unless he wishes to take on the Executive which doubles the amount of any of the membership cards. Gold Star is basically available for individuals who want to purchase products mainly for personal use.
- As per Costco.com, the Executive Members enjoy an annual 2% reward on most Costco purchases, as well as additional values on member services, such as lower prices on check printing, payroll services and identity protection; an account bonus for money market and online investing accounts; free roadside assistance for vehicles covered through the auto insurance program; and extra travel benefits.
- Securing a Costco membership can be done online or through some local Costco warehouses found in your area. One can just add a membership to his cart and purchase the membership online immediately. Membership cards will be mailed within 7-10 days. If you opt to do the transaction offline, you can just drop by at the membership counter of any Costco warehouse and apply for a membership. Membership cards will be issued immediately when you apply in person. For more information, you can visit the Costco’s official site or call 1-800-774-2678.
What are the extra costs?
- Add-ons. For Business Membership cards, you can have some add-ons. Up to six additional Business Membership cards (add-ons) are available for $55 each, and include one household card per add-on.
- Renewal of the membership. As mentioned, the validity of the membership is good for a year only. That means that it must be renewed once it expires. The costs for renewal will be the same with having it purchased brand new.
Tips to know:
- Memberships must be purchased in advance for one year. Purchases made at Costco’s website do not require a membership; however, a 5% surcharge is added to purchases made by non-members.
- If you wish to apply for the Business Membership, you will be required to have business identification. That could be business license, resale certificate, or three pieces of business ID.
- Costco imposes those Business Members who want to purchase for resale to provide the Costco warehouse membership counter with the appropriate resale information.
How can I save money?
- In contrast to other clubs, being a member of Costco is a bit more expensive. However, you can get the value of your money if you will get the membership that fits you.
- Even if you are a member already, that does not mean that you will purchase all products at Costco. The truth of the matter is Costco is not entirely comprised of great deals. As a wise consumer, you still have to watch yourself and know how to spot good values and avoid poor ones.
- Consider signing up for the Costco American Express card. By signing up, you automatically get a membership included with your card.