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.
Costco Wholesale Executive Membership,Related Posts:
Tom Drake is the owner and head writer of Canadian Finance Blog.
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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!
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.
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!
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
I have lost my card. Could I have a new card sent to me as the closest store is over 300 km. away. Thanks
Why mess with Costco in the first place? I shop wholesale for my household consumables. My membership cost me $29 11 years ago and I have spent $16CDN/$12US to renew it each year. Right now, in March 2012 you can get a 1-year membership for only $1.00 (yep, that’s ONE DOLLAR). And you get Free products for 5 months for shopping every month, plus loyalty dollars to spend on more free stuff every month thereafter. Plus discounts for shopping online at other stores – the benefits are endless. Not to mention that this is a totally ‘green’ store so you’re eliminating the toxins from your home, reducing toxic waste in the environment, and improving your family’s health and safety. Request info at http://www.mom2six.com and I can show you how to set up your wholesale account. (Don’t worry, you don’t have to do a business, thought the business is a fun benefit!)
Admittedly, if you need a lot of big ticket items like TVs or a ton of paper products (how much bathroom tissue can you use?) a membership might make sense, but I prefer shopping green for my normal household needs.