What is a Costco Executive Member? (all you must know)
Known for its warehouse club, Costco is ideal for shoppers looking to buy in bulk.
Customers who sign up for Costco membership can enjoy discounts, offers and offers from retailers. So, what is a Costco Executive membership, and is it worth it? Here’s everything you need to know!
What is a Costco Executive Membership in 2022?
Costco offers two membership programs in 2022. If you sign up as an Executive member, you are eligible for a 2% annual bonus when you shop in-store, online or with Costco Travel. Additionally, this membership comes with a free home card that customers can use to purchase home products.
To learn more about Costco Executive membership, how to sign up, how much it costs, and benefits, keep reading!
What is the difference between a Costco Basic Membership and an Executive Membership?
Costco has different types of membership programs; Gold Star, Commercial and Executive. If you register as an individual member, you must choose between Gold Star and Executive.
Here is the difference between the two:
Gold Star Member
Costco’s Basic Membership Program has the following features:
- $60 annual membership fee
- Customers get a free family card
- You can collect your benefits at all Costco stores worldwide
Executive Member
If you upgrade to Costco Executive membership, you should expect the following:
- Annual fee $120
- Membership includes a free family card
- Available at all Costco locations worldwide
- 2% annual bonus on eligible purchases
- Additional savings and benefits for Costco services
- Extra deals on some Costco Travel products
As an Executive Member, you can get lower prices on Costco services like roadside assistance, check printing and car purchases.
In addition, the store will send you a monthly copy of Costco Connection magazine.
How much does an Executive Membership cost?
Ideally, a Costco membership costs $60 per year. Therefore, if you need an Executive membership, you must pay an additional $60 annual fee.
What are the benefits of being a Costco Executive Member?
Executive membership at Costco has some benefits. For example, here are some reasons why you should upgrade:
2% bonus on eligible purchases
When you convert from Gold Star to Executive Membership, the most notable difference is a 2% annual bonus on eligible purchases.
That means you can earn this reward when you shop at any Costco store, Costco.com, or use Costco Travel.
Also, keep in mind that Costco has a limit of $1,000 that you can refund annually; so once you hit this limit, you won’t be able to earn additional rewards.
Costco Travel Rewards
If you need to book annual leave, cruises, hotel stays or rental cars with Costco Travel, you’ll get even more rewards as an Executive Member.
Additionally, Costco has special deals on certain vacations when booking a resort or spa through its website.
How do you get the 2% bonus?
According to Costco, you’ll only get a 2% bonus on eligible purchases, including:
- Purchases made by a valid primary household cardholder
- Shop in Puerto Rico, Canada or through Costco.com
- Costco Travel purchases if the customer was a member before the trip
- Pharmacy and over-the-counter drug purchases at Costco
However, certain purchases are not eligible for the 2% bonus, including:
- Items purchased in Japan, Australia, South Korea, France, China, UK, Spain, Taiwan and Iceland
- Alcohol (in some states)
- battery charge
- delivery fee
- food court
- gasoline
- Oil handling fee
- Optical inspection
- home delivery service
- Costco Shopping Card
How do you get the 2% bonus?
Costco typically mails a 2% bonus certificate and renewal notice two months prior to your membership renewal date.
Also, if you’re not sure about your renewal date, you can ask someone at the Costco warehouse or check your account on the Costco app or Costco.com.
However, if you withdraw or unsubscribe from your Executive membership before the end of the year, you will lose all accrued rewards.
How do you use your 2% annual bonus?
After you get the award certificate, you can use it however you want.
When shopping at the store, you can hand the voucher to the cashier for checkout; they will deduct 2% from your total purchase.
However, if you want to use your reward on Costco.com, you will need to redeem it at the warehouse on your Costco store card and use it to shop online.
Is Costco Executive Membership Worth It?
If you’re wondering if a Costco membership is worth it, you need to calculate how much you’ll save.
For example, if your monthly purchase is $250, that’s $3,000 per year, and the annual incentive is $60.
So, if your household expenses are higher at $2,500 per month, that would be $30,000 per year and $600 per year in incentives.
Plus, if you need to make bulk purchases at Costco, an Executive membership is worth it because you can earn rewards that you can use to pay for other products and services.
To learn more, you can also read our posts on Costco Gold Star Membership, Costco Business Membership, and what Costco Next is.
in conclusion
If you sign up as an Executive member, you are eligible for a 2% annual bonus when you shop in-store, online or with Costco Travel.
Additionally, this membership comes with a free family card that customers can use to buy household items and pay for services.
So if you shop frequently at this retailer, it can be beneficial to upgrade your Costco membership to the Executive plan.
Plus, you can use your 2% bonus when you shop in-store, through Costco.com, or on Costco Travel.
