Becoming a warehouse club member is a smart money move for many shoppers. Warehouse club companies like Sam’s Club and Costco offer members-only rates on essentials like groceries, toiletries, clothes, cleaning supplies, and household goods. If you’re a member, shopping these deals can help you keep more money in your checking account.
If you’ve considered investing in an annual Costco membership, you may want to join now. The retailer will increase annual membership fees in September, so if you join by Aug. 31, 2024, you can save $5 to $10. Here’s what you need to know about this news.
Costco membership fees will increase by $5 to $10 in September
As of Sept. 1, 2024, shopping at Costco will cost more. The warehouse club announced its plans to increase membership fees earlier this summer. In September, a Gold Star membership will increase by $5 from $60 to $65 annually.
Meanwhile, an Executive membership, which includes more perks, will increase by $10 from $120 to $130 per year. While the membership price increases are minimal, it’s an added cost that shoppers should consider.
If you’ve been thinking of becoming a member to reduce your household spending, you may want to join in the coming days to save you a few dollars on your first year of membership.
Which Costco membership is right for you?
If you’re new to Costco, you may wonder which membership type is best for you. I’ll explain what you need to know so you can choose the ideal membership for your needs.
The Gold Star membership is a standard Costco membership. You’ll get access to the retailer’s best deals and can shop in-club or online. If you don’t need added perks and just want to save money when buying everyday goods, this is likely the membership for you.
An Executive Membership is the premium membership option. You’ll get extra benefits, including additional discounts on check printing and extra perks like free breakfast or resort credits when booking eligible travel packages through Costco Travel.
But that’s not all. As an Executive Member, you can earn 2% rewards when making eligible Costco purchases. Currently, members can earn a maximum of $1,000 in rewards annually. However, the maximum yearly rewards cap will increase to $1,250 in September when membership prices rise.
You should invest in an Executive membership if you can benefit from perks and rewards like this. But it’s also worthwhile to consider your budget and shopping needs when deciding which membership to get.
Get rewarded when you shop
Shopping members-only deals at warehouse clubs like Costco is a great strategy to incorporate into your personal finance routine. But there’s another way you can save money when shopping: You can earn valuable rewards by using rewards credit cards to pay for your Costco hauls.
Our top strategy to save money at Costco is using credit cards to earn rewards. You can earn cash back when you shop, which can maximize the savings you get. Check out our list of the best credit cards for Costco to learn more.
