Costco Executive Membership

[Born2Travel]

Time for renewal...what are the real benefits of Executive membership? Last year I was going to go with the general membership but was told the Exec membership gave us better car rental prices as well as some other benefits. I somehow have some doubts about the better car rental prices so I'm wondering what benefits others find useful. I'm not sure it's worth the extra $$ for us to keep it as we aren't spending enough to generate much cash return to apply to the membership.

 

[DaveNV]

Time for renewal...what are the real benefits of Executive membership? Last year I was going to go with the general membership but was told the Exec membership gave us better car rental prices as well as some other benefits. I somehow have some doubts about the better car rental prices so I'm wondering what benefits others find useful. I'm not sure it's worth the extra $$ for us to keep it as we aren't spending enough to generate much cash return to apply to the membership.

At the risk of beating a very dead horse here, (my spouse is a career Costco staffer), the key to whether you will benefit from being Executive Members is how much you're spending. Before you renew or downgrade, go to Member Services in your local Costco, and ask them to run your shopping history. They can tell you exactly how much you've spent this fiscal year. It may surprise you to learn how much you've actually spent. If your purchases are high enough, you may have reduced, or even eliminated the cost of your membership. With the recent $5 and $10 increase in membership cost, it's a decision only you can make.

If you're planning a big purchase soon, (tires, new TV, vacation [I think], appliances, flooring, and such, you can earn back plenty in a short time toward the membership cost. If your spending isn't high enough to justify the extra expense, then don't do it. But I'd still recommend getting the Costco-branded Citi Visa - you'll earn between 1% and 4% cash back on everything you buy, including gas, even if you aren't spending it at Costco. I have that card, and I use it a lot. I've already racked up more than $350 in cash back bucks this year. And we're not even half way through the year yet.

Dave

 

[Rjbeach2003]

Haven't heard about car rentals lower, I don't think that's the case. Beyond that the rebate for us more than membership

 

[ohdewer]

Haven't heard about car rentals lower, I don't think that's the case. Beyond that the rebate for us more than membership

I've received really good deals at Costco with my executive membership. Rented full size cars in Florida for less than $200 for a full week.

 

[VacationForever]

I've received really good deals at Costco with my executive membership. Rented full size cars in Florida for less than $200 for a full week.

But rental costs the same through Costco regardless of membership levels.

 

[ohdewer]

Did not know that. Thanks for the info.

 

[davidvel]

Its $60 EXTRA to get 2% back on Costco, Costco.com and Costco Travel purchases. If you spend less than $250/mo ($3000/yr) which gives you $60 back, you should not get executive. Otherwise you will make $$.

 

[VacationForever]

Before we moved, we used to spend $250 per week at Costco as it was very convenient - easy parking and check out. Right now where we live, the parking situation is crazy at the local Costco and we go there maybe once a month and even then we spend less than $250. We will need to rethink it. We just renewed at the Executive Level this May.

 

[geist1223]

One year we did not spend enough to get back the full difference between Regular Membership and Executive Membership. I went to the Membership Desk and they handed me the difference to break even. I do not know if they still do this or not.

 

[Born2Travel]

Thanks, that is what I needed to know. We used to spend enough to cover the membership but haven't the last few years so if we're not missing any other great benefits I think it's time to downgrade. (We've had it for so long I forgot why we chose it in the first place)

 

[Jason245]

I don't know if costco does it.. but sams club actually shows me how much I am getting back on their website when I log in..

Easy way to track if the extra cost is worth it.



Sent from my SAMSUNG-SM-N910A using Tapatalk

 

[Passepartout]

Back to what Dave said, it's a matter of what you spend. I questioned the wisdom of renewing our Exec membership, so examined possible upcoming purchases. Well, it turns out my pickup will need tires before another winter (perish the thought) descends on us. They are big honking 18" things that will easily run $1K for a set. So, I guess this year's membership is paid.

Jim

 

[Ironwood]

We dropped back to the regular membership last summer as we were simply not spending enough to cover the extra cost of the executive membership. We've been empty nesters for a few years and don't buy in bulk the same way and local grocers have become more competitive in pricing and carry more convenient sizing of items like toilet paper. But you simply can't beat Costco on quality, pricing and return policy.

 

[Bernie8245]

One year we did not spend enough to get back the full difference between Regular Membership and Executive Membership. I went to the Membership Desk and they handed me the difference to break even. I do not know if they still do this or not.

This happened to us this past year. We didn't spend enough and they gave us thedifference

 

[DaveNV]

Before we moved, we used to spend $250 per week at Costco as it was very convenient - easy parking and check out. Right now where we live, the parking situation is crazy at the local Costco and we go there maybe once a month and even then we spend less than $250. We will need to rethink it. We just renewed at the Executive Level this May.

If you feel you aren't spending enough to justify the higher membership cost, go and ask to downgrade. They can refund you the prorated difference in your membership fee. And for that matter, at any time during your membership year, even on the very last day, if you feel you aren't getting your value for the membership cost, they will cancel your membership and refund your entire membership fee for the full year.

Dave

 

[VacationForever]

If you feel you aren't spending enough to justify the higher membership cost, go and ask to downgrade. They can refund you the prorated difference in your membership fee. And for that matter, at any time during your membership year, even on the very last day, if you feel you aren't getting your value for the membership cost, they will cancel your membership and refund your entire membership fee for the full year.

Dave

Thanks. We really like Costco so we will wait and see about reducing to the "regular" membership. For some of the cruises, Executive membership carries extra cash back so I will probably keep the Executive membership for the just in case. Also, we tend to shop for electronic devices in spurts - new laptop, new whatever gadget that my husband suddenly wants, and that may also bring our spending back up.

 

[dioxide45]

I can also confirm that if you order bank checks (who uses those any more?) through Costco, Executive Membership does get you a higher discount.

 

[DaveNV]

Thanks. We really like Costco so we will wait and see about reducing to the "regular" membership. For some of the cruises, Executive membership carries extra cash back so I will probably keep the Executive membership for the just in case. Also, we tend to shop for electronic devices in spurts - new laptop, new whatever gadget that my husband suddenly wants, and that may also bring our spending back up.

I fully understand. I may be married to a Costco staffer, but I've been a member of Costco (and previously Price Club and then Price-Costco) since 1982. I drank the warehouse membership koolaid a very long time ago. I shop there a lot as an individual, just because of the value I find there.

Just a few weeks ago, as part of a major overhaul of my house, I bought a $1200 garden shed from Costco.com. I had first checked every local dealer, Home Depot, whoever and wherever, and bought it from Costco because it was the best value for the money. I'll get 2% back on my Costco Executive membership for it, and also another 2% by charging it to my Costco Visa. So my net cost will be even lower than that purchase price. It doesn't take long to offset or even eliminate the membership fee.

And speaking of membership shopping places, does anyone here remember FedMart, Fedco, Memco/Gemco, and the other way-back-when membership places? Sol Price (who launched Price Club) and Jim Sinegal (who launched Costco) were involved with those places. This article is a very interesting history of where and how it all began. A rather interesting read, with pictures: https://www.sandiegohistory.org/journal/v56-4/v56-4price.pdf

Dave

 

[VacationForever]

I can also confirm that if you order bank checks (who uses those any more?) through Costco, Executive Membership does get you a higher discount.

I order my bank checks through my bank and they are free. I did not know there is normally a charge for checks...

 

[Luanne]

I order my bank checks through my bank and they are free. I did not know there is normally a charge for checks...

Even ordering through my credit union there is a fee for the checks. I didn't know any banks still provided them free.

 

[farsighted99]

I've been a Costco Exec member for years. I always get a check every year from them for that 2% rebate and it covers the membership fee and then some. I shop there every month and spend around $400-500 each trip. Stock up and save. Now that we have a Costco Visa card, we get the extra 2% on that too. The other thing to remember about Costco is that they take almost everything back. I bought a sound-bar from them and it broke a year later... they took it back and I bought a different one. Plus they will look up your receipts if you lose it.

 

[VacationForever]

Even ordering through my credit union there is a fee for the checks. I didn't know any banks still provided them free.

I just realized I get everything free - free checks, free wire, money automatically credited back to my account on fee charged by 3rd party ATM... because they make alot of money off me in other ways...

 

[clifffaith]

"And speaking of membership shopping places, does anyone here remember FedMart, Fedco, Memco/Gemco, and the other way-back-when membership places"

When I was a kid in Gardena, CA in the 1960's, a trip to Fedco on the weekend was always a big deal -- mainly because we got to have fresh caramel corn that was conveniently located by the exit door. As I recall that store was flooded when the Baldwin Hills dam burst.

 

[Sugarcubesea]

Even ordering through my credit union there is a fee for the checks. I didn't know any banks still provided them free.

Yep, I need to bank where free checks are given, my credit union charges a fee also... Lat year I only paid $4.09 for my executive membership when I used the rebate check to renew...This year I'm doing a grad party and have bought just about everthing from Costco, so I should get a good rebate check again...

 

[VacationForever]

A while back we used Fidelity, their checks were free, 3 percent cash back on their Visa, which had no annual fee.