Costco Executive Membership

[Tigger2ntinkerbell]

I belong to Sam's Club and it's costing me more every month. But I now drive by a Costco 3 times a week and I'm thinking about getting the Executive Membership. I understand that it's $110 a year. For those who have a membership at Costco's, do you think it's worth getting. I know you get 2% back on purchases( at the end of the year??). Let me know what you think. TIA


tigger2ntinkerbell

 

[apnep]

I got one last year and I'm glad I did. It pays for my membership and I don't buy huge amounts of stuff there either. I get staples like bread, milk, eggs, cheese, yogurt, and veggies.

Occassionaly if we are looking for other big ticket items we splurge but we get most of our $$ back from gas and in fact, I am thinking we will get the AMEX card they offer because we get even more back on gas.

I say, go for it. If it DOESN'T work out after a year they will refund you the money so there is nothing to lose!

Good luck.

 

[packofjedis]

I have never gotten the Executive Membership because I don't think we spend enough.

Though Costco itself is a wonderful store!

They do not calculate gasoline into the 2% back, contrary to what PP said. (I just looked it up on their website to be sure.) Everytime they give me the total of what I've spent, though, to entice me to switch over, they always include gasoline because their computers don't differentiate.

However, if you try out the executive membership and you don't get $55 back by check (thus making it equal to other membership), you can go to customer service and they will refund you the difference and switch you back to normal membership. Only the 1st year, though.

 

[Muushka]

I belong to Sam's Club and it's costing me more every month. But I now drive by a Costco 3 times a week and I'm thinking about getting the Executive Membership. I understand that it's $110 a year. For those who have a membership at Costco's, do you think it's worth getting. I know you get 2% back on purchases( at the end of the year??). Let me know what you think. TIA


tigger2ntinkerbell

Why is it costing you more every month? I pay $40 annually and it has not gone up.

I also have Costco. I did have the Executive Membership for the first year and it more than paid for itself. But my friend buying some $$ items on my AMEX helped! I realized that I don't go that often, Sams is much closer. But I decided to keep the Costco because of the AMEX rewards and I do shop there occasionally, but dropped the Executive Membership.

So to answer your question, if Coscto was closer to home, yes, I would have the Executive Membership.

I have never gotten the Executive Membership because I don't think we spend enough.

Though Costco itself is a wonderful store!

They do not calculate gasoline into the 2% back, contrary to what PP said. (I just looked it up on their website to be sure.) Everytime they give me the total of what I've spent, though, to entice me to switch over, they always include gasoline because their computers don't differentiate.

However, if you try out the executive membership and you don't get $55 back by check (thus making it equal to other membership), you can go to customer service and they will refund you the difference and switch you back to normal membership. Only the 1st year, though.

Can you show me the link to the bolded statement? Do you have the Costco AMEX?
I get 3% for gas, or at least I thought I did!

Earn cash back everywhere, not just at Costco
Every time you make a purchase, you can earn cash back: 3% for the first $3,000 in annual gasoline purchases (1% thereafter), 2% for restaurants, 2% for travel, and 1% everywhere else, including Costco.1

 

[Andreas Mom]

If you have the excetive membership AND the AMEX you actually get two checks back. one from costco and one from the credit card company. You get 2% back from costco and then from the AMEX you get the 3% gas and 2% on everything else.

Hope that helps.

 

[cari12]

We have had the Executive Membership for a couple of years and it more than pays for the membership fee. And really, if you have a regular membership that you are already paying $55 for, then as long as you get at least $55 at the end of the year, it has not cost you anything additional for the Executive but you have the potential for more. It does not give you anything on gas, just purchases at the registers and online.

 

[ColoradoMom!!]

I do have it - but I got about $83 back - so minus the $55 it costs me - $28 savings?? The costco folks who scan your card and tell you that exec. membership would be sooo great for you (as mentioned above) include the gas. The gal told me I had over $120 coming the week before I got my check. I marched right over to her next time I was there to see what the "mistake" was. Another gal at the CS desk had to explain it to both of us that gas isn't included. The exec. card pusher didn't even seem to care - I said, "ummm that might be a good thing to mention when you estimate people's rebates"

BUT the best deal to me is the Costco AM/Ex!!! No fee's, and huge rebate checks! 3% on gas and 2% on dining out and travel I believe - and 1% on everything else purchased anywhere - it really adds up!

 

[Swimalie]

If you have the excetive membership AND the AMEX you actually get two checks back. one from costco and one from the credit card company. You get 2% back from costco and then from the AMEX you get the 3% gas and 2% on everything else.

Hope that helps.

3% of gas and 2% on travel and restaurants but 1% on everything else. It still works out to be a super nice check from them for us each year.

I believe the Costco Executive cash back comes 2 months before your annual renewal is up. The American Express rebate comes each Feb/March.

 

[pigletto]

We got the executive membership. They were doing a HARD sell on it when we went to sign up. We got a whopping 28 dollars back. It's pretty far away and we didn't use it nearly as much as we had hoped. Lesson learned for us.
I would say to know your spending habits and what you are likely to buy on a regular basis and make a decision before going in. Because if you are undecided at all they might really push.
IF we sign up again it will just be the regular membership. And to be honest, the only things I am going to miss are the Sirloin Burgers and the Stuffed Chicken breasts. Not worth the 40 minute trip for me.

 

[wishesuponastar]

Is the 3% back on gas purchased at any gas station? (Exxon, Sunoco, no-brand mom & pop places)

 

[100AcreWood]

When we signed up for th exec membership they told us if it didn't cash flow they would give us $55 back so we didn't lose money by becoming an exec member. We shop there every week. So far we have always received a rebate above the cost of membership.

 

[Swimalie]

Is the 3% back on gas purchased at any gas station? (Exxon, Sunoco, no-brand mom & pop places)

Yes. Although they told me to pay at the pump so it shows up as gas when it goes through to them. If you pay inside, the transaction might get listed as a store purchase instead.

We have had the executive membership for several years now, always making ht extra $50 plus a few dollars or more. But, the Costco here is about 20 min away and a BJs is opening in our town next week (currently its 30 min away). I love BJs as well so I have a feeling we will be dropping Costco down to a regular membership since we'll be going to BJs more often.

 

[apnep]

I have never gotten the Executive Membership because I don't think we spend enough.

Though Costco itself is a wonderful store!

They do not calculate gasoline into the 2% back, contrary to what PP said. (I just looked it up on their website to be sure.) Everytime they give me the total of what I've spent, though, to entice me to switch over, they always include gasoline because their computers don't differentiate.

No this can't be right. You get 2% on ALL your purchases including gas and if you have their AMEX card you get 3%.

Gas HAS to be included because I don't buy THAT much bread and milk and eggs. haha. I'm going to have to double check this now.

 

[NYCDiane]

I was a member of both Costco and BJs at one point. I dropped Costco because BJs has much better prices and they also take manufacturers coupons and Costco doesn't. BJs also sends you a monthly coupon packet with a ton of great coupons. BJs also has pretty good prices on gas and the tire shop is great.

I belong to Sam's Club and it's costing me more every month. But I now drive by a Costco 3 times a week and I'm thinking about getting the Executive Membership. I understand that it's $110 a year. For those who have a membership at Costco's, do you think it's worth getting. I know you get 2% back on purchases( at the end of the year??). Let me know what you think. TIA


tigger2ntinkerbell

 

[tripplanner2]

I think the confusion is the regular exec membership and the Amex exec membership. We originally had the regular exec membership and got back the lower percentages but then added the Amex and get 3% on gas. We also get 2 checks. I believe one comes in August for Amex and then one from Costco when your membership renews, but I can be wrong with the dates. But I know 2 different checks with the Amex exec membership. We definitely get our money back and we don't use the card for gas. We use our DV for gas!

 

[Chim Chiminy]

We have the executive membership and glad we decided to upgrade to it. Turns out we shop there more often than we originally thought.
The quality of food and paper products is really good. We now buy most of our produce there, as well as milk and eggs.
Haven't gotten a refund check yet, but it will be interesting to see how much we get back.

Will have to look in to the Am/Ex card. Didn't know you got a rebate on all purchases.

 

[Green Tea]

One thing that hasn't been mentioned are the better incentives for executive members.

On an auto loan the executive membership entitled members to and extra .05% (i think) off the loan. When opening an bank account, the exec. membership gave maybe $100 bonus instead of $40....things like that. With travel deals the upgraded membership might include free breakfasts or something of that sort.

 

[Swimalie]

One thing that hasn't been mentioned are the better incentives for executive members.

On an auto loan the executive membership entitled members to and extra .05% (i think) off the loan. When opening an bank account, the exec. membership gave maybe $100 bonus instead of $40....things like that. With travel deals the upgraded membership might include free breakfasts or something of that sort.

And other services, too. When we moved here, we used Lending Tree through Costco for our mortgage. We got a $500 Costco card for using it. Regular members got $200 or $300.

By the way, there is no American Express Executive membership. There is Regular membership and Executive Membership through Costco. Anyone who is a member can get the American Express card, called True Earnings card, for free with their paid membership. All get the same percentage back on what they buy using it.

 

[packofjedis]

No this can't be right. You get 2% on ALL your purchases including gas and if you have their AMEX card you get 3%.

Gas HAS to be included because I don't buy THAT much bread and milk and eggs. haha. I'm going to have to double check this now.

Went to Costco's site, clicked on Membership, then Executive membership, then further down in the small print "membership benefits and Costco services."

"In the U.S., Rewards are not calculated: (i) on purchases of cigarettes or tobacco-related products, gasoline, Costco Cash Cards, postage stamps, alcoholic beverages in certain states"

I had the same thing happen to me as all the other posters. The cashiers scan my card and tell me I'm going to get this huge check, totally worth it, etc. I go up to customer service to ask about it and they explained gas is not covered although it's all together in their computers. We had to figure ourselves how much we spent on gas to remove that total. The cashiers won't tell you that.

 

[Judique]

And other services, too. When we moved here, we used Lending Tree through Costco for our mortgage. We got a $500 Costco card for using it. Regular members got $200 or $300.

By the way, there is no American Express Executive membership. There is Regular membership and Executive Membership through Costco. Anyone who is a member can get the American Express card, called True Earnings card, for free with their paid membership. All get the same percentage back on what they buy using it.

I've had the executive membership for a few years now and I definitely spend enough to make it worthwhile! I always get my membership fee plus more back.

I use another Amex for purchases and after reading this thread, I am gathering that the Costco Amex does not have an annual fee?

My current Amex has a $69 fee. Plus I have so many reward points on it that are for hotels and flights, I can't spend them all.

I think it's time to switch cards and get the cash back Costco card.

Thanks!