Costco Membership- Gold or Executive?

[Erica Ladd]

Looking for advice/opinions of benefits vs cost. Thx!

 

[megsters]

executive all the way.

if you don’t earn enough cash back on your purchases, you can return the executive and get the gold

 

[cvjw]

Depends on how much you spend. Or if you book travel thru Costco.

 

[DLgal]

Executive because they guarantee you will earn enough to pay the difference and if not, they will refund it.

It's great earning 2% cash back on all transactions.

 

[RamblingMad]

I have Executive. It almost always pays for itself.

 

[mikehn]

Executive because they guarantee you will earn enough to pay the difference and if not, they will refund it.

It's great earning 2% cash back on all transactions.

Really? I never knew that. Great to know

 

[amcnj]

When I joined I didn’t think I would spend enough to pay for the executive. And I didn’t. But they had suggested it anyway “just in case”. I did get the difference refunded at the renewal time. The only negative at all was at least back then I had to go to the customer service desk to get that taken care of.

 

[pklein09]

Executive. Even if I don't earn enough to cover the entire $120 membership fee, I earn enough that my renewal is less than the $60 fee for the Gold.

 

[Shanna-like-Banana]

We seriously regret not getting the executive, I don't know what we were thinking giving up the cash back %. We really should have gotten the executive

 

[DLgal]

We seriously regret not getting the executive, I don't know what we were thinking giving up the cash back %. We really should have gotten the executive

You can upgrade at any time.

 

[Frwinkley]

Couple it with the Costco Credit card for additional cashback.

4% of gas anywhere.
3% on travel/dining
2% on Costco purchases
1% on everything else

 

[lsutigers03]

So if you don't earn enough do they automatically refund the difference? Is it a one time thing? Do you keep the rewards earned if they refund?

 

[DLgal]

So if you don't earn enough do they automatically refund the difference? Is it a one time thing? Do you keep the rewards earned if they refund?

Here is an example. You pay the $120 membership fee ($+60 over the standard membership). You spend only $2000 over the next year at Costco. The month before your renewal is due, they send you your $40 voucher. If you take that to the membership desk, they will refund you the additional $20. You keep the $40 voucher to use on your next shopping trip.

If you choose to get a refund, you can STILL renew at the Executive level and try to spend more next year or you can revert back to the Gold membership.

 

[supersnoop]

So if you don't earn enough do they automatically refund the difference? Is it a one time thing? Do you keep the rewards earned if they refund?

I believe it's listed as a one-time thing in the terms.

 

[Cheburashka]

So if you don't earn enough do they automatically refund the difference? Is it a one time thing? Do you keep the rewards earned if they refund?

No. You have to check your earnings yourself, and if it isn't justifiable to you, then you request to revert to gold level, they will refund the extra cost for executive, and you will lose any rewards.

I used to have executive because I booked our annual DCL cruises via Costco, and that 2% was worthwhile. Now that we won't be cruising for the foreseeable future, and I usually only go to Costco for gasoline & occasional light shopping, the Executive membership wouldn't pay for itself, so I downgraded. I recommend doing a quick calculator analysis of your likely annual spending at Costco, and then deciding if the Executive membership would likely pay for itself or not. If you don't shop there often or buy big-ticket items there, it probably won't.

I also have a Costco Visa card and like the rewards I get from that. You don't need an Executive membership to get the Visa card rewards.

 

[bearzabout]

I think is it more important to have their credit card than the executive membership. It is a huge advantage if you plan on buying any electronics from them. We bought our TVs from them, and they ended up extending the warranty to 7 years. The unit had a three year warranty, the standard Costco Warranty extends it another 2 years and the credit card extends it another two years. If I have any problems with the TV before the end of 7 years, they will give me a new one. Can't beat that deal.

The credit card also extends the warranty on other purchases like ipads by one year.

Eyeglasses are super cheap there. So are tires and batteries. Their gas prices are good saving 3% on travel expenses like rental cars was amazing back in the days when we could travel. This discount is available no matter which membership you have.

The credit card has no annual fee and is a good ideal if you are in the market for electronics or travel a lot.

In order to get the extra $60 back for the executive card, you must spend $3000 per year at Costco and some purchases like gas and alcohol do not count. If you think you will spend less than that at Costco, then the basic $60 card would be better.

 

[scbruno]

Executive. Even if I don't earn enough to cover the entire $120 membership fee, I earn enough that my renewal is less than the $60 fee for the Gold.

I agree if your a Costco shopper there are many ways to lower your cost of the membership. we spend a lot and we cover the cost of our Exec membership with the yearly rebate so we are members for free.