Costco announced today that their membership fees will increase on September 1, 2024. Basic Goldstar annual membership will increase from $60 to $65 and the higher tier Executive annual membership will increase from $120 to $130.
On a positive note, the maximum annual 2% Reward associated with the Executive Membership will increase from $1,000 to $1,250.
I’m going to lock in the lower $60/$120 rate now, along with the current promo to get $40 back.
Please keep in mind that active memberships can only be renewed within 90 days prior to the expiration date.
Hat tip to reader fubag
Renewed on August 31 and it turns out my membership expires November 30. I should have a decent size check from the gold purchases. They were giving out a giant green bag for auto renew so I decided might as well.
is a costco membership really valuable?
are you really saving money by spending 65/yr or are you buying junk in order to justify the membership?
there is nothing costco offers that other stores dont offer.
it depends on your needs. The savings of allergy meds, some paper products, gas, all add up to make it worth it for me.
Their car insurance saves me over 700 a year. I shopped and shopped insurance from all over every 6 months and one day found that their price was unbeatable for some reason. Pays for the membership easily, I don’t even shop in a Costco 2x a year, yet I’m an executive member for a couple years now due to insurance alone.
how much do you pay for the insurance?
I was paying a bit under $100 a month on two newer cars full coverage. Towing, roadside, rental if needed, 100/300 coverage. Just got a new car to replace one of them and it went up to $112 a month which I think was fantastic as the car can be quite expensive to insure according to other owners.
I have been switching almost every year chasing the lowest rates as they seem to go up every year and you get better rates by moving around. Just renewed another year with Costco insurance, other than my vehicle change no increase so far anyway.
i think American Family Insurance is what is through Costco for home and auto.
It is “Connect by AmFam” for me, but I quoted American Family before and they were always super high compared to say progressive and geico. Through Costco though it is the best price I can find anywhere. Moved my homeowners to them too, went down 600 a year on homeowners too, Saving a bundle currently.
Tried to get my daughter on Costco insurance though and Progressive beats Costco by 800 a year for her, so you just never know.
Costco gas saves me big bucks. They are always the cheapest payable with credit cards.
Are people really complaining about an extra $5-10 per YEAR?
When there go and ask to cancel your membership, They ask why are you cancelling,
Say because of the price increase (Also because I don’t care about Cost CO anymore LOL)
Get all your money back,, because the bastard company only refunds fully and not partially refunds for the months used, They refund the whole annual fee)
Then buy it again next time your there before the price increase if you have not yet chnaged your mind to say bye to F..ing C Co for good !
C Co and all the commercial membership business can go to Hell
They track this behavior. Make it a pattern and you can get denied returns or banned with membership refunded. This advice is penny wise but pound foolish.
It was an advice to those bright enough to understand it to say bye for good to C Co and save money the rest of their lives
There’s no way to take advantage of the deals if you have a current membership, correct? Apparently my membership renews later this year but the site says I am allowed to renew my membership within the time frame before the price increases. So I guess that’s the best I can hope for.
Saw a DP that anyone whose existing membership expires after 8/31 is already seeing the increased fee when they try to renew, so there may be no ability to beat the fee increase unless you are starting a new membership.
Executive Gold Star Renewal Item # 35674 $120.00 Quantity 1. My current membership was set to exp. on 9/30. Purchase was applied automatically to extend my expiration date to 9/30/25.
I don’t know how true this is, but I was told by Costco.com & in-person Costco employee that if you buy the gift memberships online, it starts the 1yr clock ticking immediately, even if you don’t activate it (it’s supposed to be activated soon after purchase, apparently). I wanted to buy a gift membership and give it at Xmas, but the in-person employee said it wouldn’t work esp if the gift recipient had a membership already (unless it was time for their membership renewal at time of gift purchase, then the cost of the gift membership could be used towards their membership renewal). Anyway, not sure you can ‘lock in’ the old rate if you’re not due for renewal soon.
If you live near the Mexican border just get a membership there. $500 pesos ($27 USD). That’s what I do. Membership works in the USA
Interesting. Do you pay the renewal online pesos?
I have done this in the past and from what i know it can’t be renewed online. The employee made it clear that I have to come in to the store. The Choco Flan at Costco Mexico is worth a trip down there
Don’t you need a Mexican address if you were going to do this? Canada would also be a good choice given how devalued their currency is, to a lesser extent (27% discount at current exchange rates).
Mexican Costco membership needs a mexican national ID or proof of local residency
It didn’t require when I got a membership about 2 year ago. Maybe it’s different at the Costco locations close to the border
There have been multiple membership enforcements at Costco the past year.
Can anyone confirm? I’m considering this mexico approach
my man said cross the border to save $30
Stock should appreciate. 🤞 Still very worth it at $65/$130, although the maths aren’t as easy. At $5/month you can say you bought 5 grocery items or 1 nonfoods item each month to come out ahead for the regular membership, not including gas savings
I think we make out ahead on toilet paper and paper towels alone. Before I joined Costco I’d wait for target deals with gift card bonuses, combined with a manufacturer’s coupon. Even then we about break even, or better if you discount by my time no longer spent couponing.
If you have a trash compactor the savings is outrageous on that too
Just waiting for my renewal to cancel so I don’t lose my executive cashback. Sams keeps running aggressive membership deals.
If you are near BJ’s their membership deals are even better than Sams. Currently there is a link for a new club opening has $20 memberships, with $20 off $60 digital coupon for use in store. One year they gave $10 a month for 6 months as well, on top of a $20 membership, thus paying me $40.
Unlike Costco they are very lax and don’t care at all about if you are or were a member recently.