Most people will agree that a Costco membership is worth the $55 a year. That amount can be saved in one trip with some of the non-grocery items I’ve found like KitchenAid mixers or Ralph Lauren dress shirts, both at half the price found in other stores.
What i wasn’t sure of was whether the executive membership would be worth the extra $45. The executive membership gives you 2% back on most of your purchases. So at the minimum, you’d want to at least make back the additional $45 cost, even better if you can get $100 back to pay the entire cost of your Costco membership.
To get a $45 reward, you will need to spend at least $2,250 a year, or $187.50 a month. This amount is likely if you’re regularly shopping at Costco.
Now, if you’re hoping to pay for the entire $100 membership with your annual reward you would need to spend $5,000 a year, or $416.67 a month. This amount might be more than many will spend at Costco, but it’s definitely possible to spend that much if you are doing the majority if your grocery shopping there.
So as long as you’re spending about $200 a month, the executive membership looks to be worthwhile. On top of that, there are also some extras available to executive members, at a cost, including roadside assistance and telephone service.
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Tom Drake is the owner and head writer of Canadian Finance Blog.
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[...] Canadian Finance from The Canadian Finance Blog presents Costco Wholesale Executive Membership. [...]
I transferred from regular to executive membership 2 years ago and I usually get back 100 (which is all) or 100+ every year.
mewithoutdebt,
Yeah, it’s pretty easy to go there once a week and spend over $100… I go in for a few groceries and walk out with a lot more non-grocery items than I planned!
[...] Cents included Costco Wholesale Executive Membership in this week’s Festival of [...]
I am not sure you are aware but the Membership Services rep told me that if I didn’t earn the $45 extra paid back, that I would be refunded the $45 back.
[...] Family Income included Costco Wholesale Executive Membership in this week’s Carnival of Pecuniary [...]
I am a member of Makro which is a UK cash carry wholesaler like Costco and I have never even asked about ‘executive menbership’. I know what I’ll be doing next week!
[...] market, you can buy the quantity that you need, as opposed to buying seventeen tomatoes from Costco and having twelve of them go bad before you get to them. At a grocery store, you are often stuck [...]
Great! I want to member.
I find that Costco is good, but they don’t carry “no name” type of items, which can be costly. Wouldn’t it be cheaper to go to a grocery store that carries these types of items?
Thanks,
Richard
Don’t forget that Costco sometimes carries unique items that other stores don’t have. Does anyone remember Cape Cod Kettle Cooked potato chips. You can’t find those anywhere in California because they stopped distributing them. You can only order them in bulk from their website $20+ BUT they have them from time to time at Costco for less than $5-6 family size. You just have to call in to check if they have inventory. It’s almost like an event shopping there. You know you’re going to get a good deal and if you have any issues you know their customer service with take care of you. Even their tire center is great with lifetime balancing and rotation for the tires that you buy there!
I love wholesales, on the long term it does save a lot of money!
Warehouserival.com offers great wholesale prices on 1.000.000+ products! No min. order quantity!
Not member yet but I think exclusive is good