The holiday season is almost upon us, and many American households are getting ready to splash out on festive decorations, gifts, and more. That makes it the perfect time to renew your Costco membership so you don’t miss out on its massive lineup of bargains.
Not only that, but now might be a good time to upgrade to an Executive membership. Getting 2% back on your holiday shopping is not to be sniffed at. Similarly, if you’re in the market for a new rewards card, do it before you ramp up your spending. Click here to learn more about which credit cards offer great rewards on your Costco purchases.
Work out how much you spend at Costco
More and more companies are asking us to sign up for lengthy subscriptions and memberships, which can take a real bite out of anyone’s budget. Take a beat before you renew any annual subscription to work out if you’re still getting value for money.
In terms of Costco, the retail giant recently increased its membership fees. A regular Gold Star membership will now set you back $65 per year (about $5.40 a month), while an Executive membership costs double that at $130 per year.
Think about how often you visit the store, what services you use, and how much you save each month. Try to be realistic. It’s one thing to know that, for example, you can lower your costs for prescription drugs by getting them at Costco. But it only saves you money if you use the service.
We’ve found that the top strategy for saving money at Costco is more about how you pay than what you buy. Every dollar will work harder if you combine Costco’s great value with a no-annual-fee credit card and a strong rewards program.
Consider an Executive membership
Costco’s Executive membership comes with quite a few perks, including 2% cash back on the majority of your spending, including Costco Travel. You’ll also get better deals on other Costco services, including auto services. If you have Costco auto insurance, you’ll get roadside assistance at no extra cost.
If your Costco shopping comes to more than $3,250 per year, that cash back alone will cover the extra $65 Executive membership fee. If you spend $6,500 per year, the entire membership fee will pay for itself. In case you’re wondering, several top cash back apps work with Costco, so you can get even more back from your spending.
It’s easy to renew your Costco membership
It is super easy to renew your membership. If you’re in a Costco store, stop by the membership desk or do it at the checkout. You can also renew online at Costco.com or call customer service.
Costco does offer an auto-renew feature, which makes the process even easier. But personally, it gives me peace of mind to know I’m in control — even if it means a bit of hassle when the renewal date comes around.
If you decide not to renew, you’ll still be able to shop at the retail giant. You might go with a friend or use Costco gift cards. You can also shop online, but you’ll need to pay an extra 5% to do so without a membership.
Costco’s best holiday deals
If your Costco membership is up for renewal, it’s worth getting it sorted before the end-of-year rush. If you’re wondering about Costco’s holiday bargains, look no further than the current holiday sale. From now until Dec. 2, Costco is offering extra discounts on everything from chocolates to jewelry and electronics.
Its gift cards can also be excellent money savers as you may get 10%, 20%, or more off the face value. For example, if you have younger relatives who are Roblox fanatics, you can get a $50 gift card for $44.99. You can also get deals on gift cards from Uber, top restaurants, and even airlines.
Renewing your Costco membership opens the door for continued great value on all your shopping. Not only that, but you can also get great prices on travel, insurance, auto deals, and more. Costco’s not just for Thanksgiving and Christmas — it gives members value all year round.