Benefits of Costco Executive Membership?

[maggie]

What are the benefits of having an Executive membership?

 

[DeniseM]

There may be more, but primarily, you get to shop during earlier hours.

 

[DaveNV]

Actually, Denise, I don't think they do earlier hours anymore. Everyone gets in at the same time.

Maggie, you should ask at your local Costco to see if they have any special promotions going on right now. Sometimes they offer special incentives for signing up. But generally speaking, the biggest advantage of Executive is you get a 2% rebate check on your purchases. If you and others on your account spend enough, this can add up quickly. The lesser memberships don't receive the rebate.

Dave

 

[Sugarcubesea]

Actually, Denise, I don't think they do earlier hours anymore. Everyone gets in at the same time.

Maggie, you should ask at your local Costco to see if they have any special promotions going on right now. Sometimes they offer special incentives for signing up. But generally speaking, the biggest advantage of Executive is you get a 2% rebate check on your purchases. If you and others on your account spend enough, this can add up quickly. The lesser memberships don't receive the rebate.

Dave

Just to piggyback on what Dave said. With my executive membership I have used my rebate to buy the following years membership. Last after my check, I paid an additional $7.00. Not to bad a cost for the membership

 

[DaveNV]

To put numbers to it: A Gold Star membership costs $55. The Executive Membership is $110. So to use the 2% rebate check to cover the cost of the Executive upgrade (from Gold Star), you'd need to spend $2750 in a year. 2% of that is the $55 difference.

To get the rebate check to cover the entire $110 membership, you'd need to spend at least $5500, or an average of $458 per month. On its face, it sounds like a lot of money, but it's very easy to spend $458 a month at a Costco. I've spent more than that just during August, and I wasn't even trying. Purchases from Costco.com also count.

Maggie, if you're already a regular member, go into Costco and ask if they can "run your shopping history." They can tell you whether you've spent enough to offset the cost of the upgrade.

Dave

 

[DeniseM]

Hi Dave - Thanks for correcting - it's been awhile since I had an Executive Membership.

One question - the 2% back doesn't include gas - correct?

 

[Ken555]

Hi Dave - Thanks for correcting - it's been awhile since I had an Executive Membership.



One question - the 2% back doesn't include gas - correct?

Nor CostcoTravel.com

 

[maggie]

I knew about the 2% back and had concluded that we don't spend enough to warrant getting Executive just for that reason -- even though it seems like we somehow spend a fortune every time we venture in. I looked at the info online and saw that Executive Membership gives "extra benefits on select Costco Travel products." "Keep an eye out for special gems alongside our everyday offers. These include limited-time Kirkland Signature™ departures and exotic destinations.Whenever you see the black Executive Member card, it indicates extra value for Costco Executive Members. Special extras might include a room upgrade, a shipboard credit, a spa credit or other value-packed benefit." It sounds like it is mostly on cruises or vacation packages which I don't anticipate doing anytime soon. But I am very happy with car rental through Costco travel and will be using them in the near future a couple of times so I wondered if there were any reasons to get the Executive, like for an upgrade on the car or an extra day or discount or something like that. I don't see anything that says that, though. It does look like if you have the Citi Visa card you get 3% back on travel but I just see that in a popup between clicking on pages. I haven't seen anything more than that yet. I'm going to Costco tomorrow afternoon so I will ask them then and see if they have any special promotion. I didn't think about doing that.

 

[DaveNV]

I'm going to Costco tomorrow afternoon so I will ask them then and see if they have any special promotion. I didn't think about doing that.

That's the best option, since they'll have the most current information. They can also explain where those hidden Executive-only perks might be. With car rentals, every member gets the same discounts. They can also explain to you about the new Citi Visa card - it has tiers of rebates/discounts depending on what you're buying. You might save enough with that to pay for your membership, too.

Dave

 

[JudyS]

I know that Executive Members get a discount on CostCo's credit monitoring service.

 

[Luanne]

We've had an executive membership for years. In California we were at Costco every week, since there was one about 5 minutes away. Now we're about an hour away, but even going a lot less we are still spending enough to make the executive membership worthwhile.

 

[Terencel]

I get my auto and home insurance through Costco. With the Executive Membership the rates are much better than with a basic Costco membership. The difference in premium alone pays for my Costco membership and then some. Every service that you get thru Costco (if any) has better prices if you are an Executive member. I also get better rates on Identity Protection that I get thru Costco.

 

[VacationForever]

For some cruise bookings Costco Executive gives an additional $100 onboard credit.

 

[geist1223]

Previously when we did not spend enough (happened only once or twice) to get at least $55 back (the difference in cost between regular and executive) they gave us cash back to make up the difference. Correct you do not get cash back on gas with an executive membership. If you get the new VISA Card you get 4% back on gas you charge on the card (no matter where you buy it), an extra 2% on all Costco purchases charged to the card on top of the 2% for executive membership, etc.

 

[maggie]

My husband just upgraded us to Executive because he is buying a set of tires. We have the Fidelity Visa which gives 2% back to your brokerage account but I am tempted to also get the Costco Visa even though I have always tried to keep our credit cards to a minimum for simplicity's sake. I saw that about the insurance. I'm going to check that out. No connection with Costco or anything, just asking for information from people who know a lot about a lot of things.

 

[DaveNV]

My husband just upgraded us to Executive because he is buying a set of tires. We have the Fidelity Visa which gives 2% back to your brokerage account but I am tempted to also get the Costco Visa even though I have always tried to keep our credit cards to a minimum for simplicity's sake. I saw that about the insurance. I'm going to check that out. No connection with Costco or anything, just asking for information from people who know a lot about a lot of things.

Congrats on your upgrade. You may find you'll spend more than you think you do. I went into Costco yesterday to pick up a prepaid pair of sunglasses I'd ordered, and I still spent $85 before I left the building...

As for home and auto insurance through Costco: Check that out. Ameriprise Insurance offers a great savings - we saved several hundred dollars a year by switching over. Free quotes on the phone, no upsells or pressure from them. It's a win-win for us.

Note also that with their auto insurance as an Executive member, you'd also get free emergency road service. If you're paying for AAA, you can cancel them and count in that minimum of $66 savings too. Depending on the level of AAA membership you have, you could save a whole lot more than that, maybe even enough to pay for your entire Executive membership. Another win-win.

Full disclosure: My spouse is a 20+ year career Costco employee, the head Refund Cashier in the Membership Department at our local warehouse. So while I have no direct involvement, I'm kind of "married to the mob."

Dave

 

[geekette]

I have the Exec and had the Amex, now Citi, and do get cash back on gas, Costco and elsewhere tho I usually buy Costco gas because it is usually 5-10/cents/gallon cheaper than elsewhere, and recently, 20 cents.

Last year's rebate was over $400; it does add up. Early entry never mattered to me so I wouldn't notice it missing ; )

 

[jehb2]

My Costco rebate check was abou $271 plus I got an additional costco rebate check for using my Costco AMX card (and I only use it at Costco).

The new Costco Visa get 4% for gas, 3% travel & restaurants, 2% Costco, 1% all else. So between the Executive card and the Visa card I get a tidy sum back.

Often I like to use my checks when paying for groceries at the Hawaii Costco. It feels like free groceries on vacation.

 

[csxjohn]

My local Costco store told me if my rebate check for the enhanced membership is not at least $55 to bring in in and they will exchange if for one that is $55, the difference in the cost of basic membership.

My first check came and it is woefully short of $55. I will take it in this week to see if they told the truth or were practicing for a timeshare sales career.

 

[ThreeLittleBirds]

We have executive and did not spend as much last year at Costco. However, we spent enough that our membership only cost us $15 total.

 

[mjbaran]

My local Costco store told me if my rebate check for the enhanced membership is not at least $55 to bring in in and they will exchange if for one that is $55, the difference in the cost of basic membership.

My first check came and it is woefully short of $55. I will take it in this week to see if they told the truth or were practicing for a timeshare sales career.

Happened to me also. No hassle in getting the difference back from Costco. When I first signed on to the Executive Membership program, Costco neglected to tell me that the amount of rebate check is calculated 2 months BEFORE my membership anniversary date.

If the rebate calculation date matched my membership anniversary date, I would have been fine.

 

[amycurl]

Shopping at Costco just once a week? Amateur.

We have an Exec membership. We usually get about $70-$80 back, so that lowers the cost of membership to only about $30-$40, so we definitely come out ahead vs. a regular "Gold" membership.

And that's cool that they will run a purchase history for you. I would definitely do that and not trust your perceptions of how much you are spending. I would bet it would be more than you think. And it's cool that they will give the difference either way--what's there to lose?!?

I heart Costco with the fire of a thousand nuns.

 

[Elan]

Had an exec membership, but dropped it. Costco refunded the difference. Don't do Costco much anymore. It's just not a cost-effective place to shop for a family. I don't think we've been since around May, and the trips are becoming more and more infrequent.

Sent from my Nexus 5 using Tapatalk

 

[billymach4]

The Executive Membership pays for itself for us 2 to 3 times over. This years I picked up a $250 window A/C unit with the check. The cashier was amazed.

I shop at Costco weekly!