Costco is a membership-based retail warehouse club that offers a wide range of products at discounted prices. It was founded in 1976 in San Diego, California, and has since grown to become one of the largest retailers in the world.
Its business model is based on selling high-quality products in bulk at low prices. The company operates on a membership-only basis, meaning customers must pay an annual membership fee to shop at Costco stores.
The company’s private label, Kirkland Signature, is known for offering high-quality products at a lower cost than comparable name-brand products.
The company has also prioritized sustainability and is committed to reducing its environmental impact by reducing waste and using renewable energy sources. Investing in an Executive Membership makes sense if a location is near you.
Where Can I See an Estimate of My Costco Executive Membership?
Anyone who is a primary member for an Executive Membership can see their current 2% reward estimate by signing into their account on Costco.com. The individual must be verified to view this information in the membership information section of the dashboard. This info is also available through the Costco app by viewing earnings under “Card.”
If you’re a Costco Executive Member and want to see an estimate of the rewards you’ve earned, you can do so by logging into your Costco account online. Here are the steps to follow.
- Go to the Costco website and click “Sign In” at the top right corner of the page.
- Enter your email address and password to sign into your account.
- Once you’re signed in, click “Your Account” at the top right corner of the page.
- Under “Membership Information,” click “Executive Membership” for your rewards estimate.
Once you’re on the Executive Membership page, you’ll see an estimate of the rewards you’ve earned, which includes the 2% cash back on qualifying purchases you’ve made with your card.
Please remember that it is an estimate and not a concrete number. Your actual rewards could vary based on your purchases and other individualized factors.
How Much Is a Costco Executive Membership?
The cost of a Costco Executive Membership varies by country and region, but in the United States, the annual fee is $120.
An Executive Membership is a step up from the basic Gold Star Membership, which has an annual fee of $60.
Having an Executive Membership offers additional benefits, such as a 2% cash back reward on eligible purchases (up to $1,000 per year) and access to certain travel and insurance services.
If you’re considering upgrading to an Executive Membership, it’s essential to weigh the benefits against the cost to determine if it makes sense for your shopping habits and needs.
What Are the Pros and Cons of a Costco Executive Membership?
Every investment comes with a series of pros and cons to consider. When looking at a Costco Executive Membership, some specifics apply to most people.
Here are the key points to review if you are thinking about joining the Costco family at this level.
| List of the Pros of an Executive Membership | List of the Cons of an Executive Membership |
| Executive members have access to exclusive events and product releases, giving them first dibs on new and exciting offerings at Costco. | The Executive Membership costs more than the standard Costco membership, so you will need to weigh the benefits against the additional expense. |
| You can buy items with a higher purchase limit than regular members, which can be helpful for businesses or households that need to buy in bulk. | Costco is not available in all areas, so some people may not have access to a store or may have to travel a significant distance to reach one. |
| Executive members receive additional benefits, such as discounts on Costco services like travel and insurance. | While the 2% cash back reward can be a significant benefit, it is not a guarantee that you will save money overall, especially if you do not shop at Costco frequently enough to earn the reward. |
| With this membership option, you’ll earn a 2% annual reward on most purchases made at Costco, which can add up to significant savings for frequent shoppers. | If you decide to cancel your Executive Membership, Costco will not refund the additional fee you paid for the higher-tier membership. |
A Costco Executive Membership can be a great option for frequent shoppers who want to maximize their savings and access exclusive benefits. However, it may not be the best fit for everyone, particularly those who do not shop there frequently or do not have access to a nearby store.
How to Maximize Cash Back with a Costco Executive Membership
If you have a Costco Executive Membership, here are some tips to help you maximize your cash back rewards and get the most out of your investment.
- Shop at Costco When it Makes Sense. Since the cash back reward is based on your annual spending, the more you shop, the bigger return you will earn. Make sure to visit Costco frequently and purchase the items you need from there.
- Use the Anywhere Visa® Card. The Costco Anywhere Visa Card by Citi offers additional cash back rewards on purchases made at Costco and other eligible merchants. By using this card to buy things, you can earn even more on top of the 2% reward from your Executive Membership.
- Use Costco Services. As an Executive Member, you are eligible for discounts on various Costco services, such as travel, insurance, and home services. Take advantage of these discounts to save money and earn more cash back with your purchases.
- Buy Items in Bulk. Costco is known for its bulk items, which can be an excellent way to save money and earn more cash back. Stock up on the things you frequently use and enjoy the savings and rewards.
- Check for Deals and Promotions. Review the weekly ads or visit the store to see what promotions are available and take advantage of them to save money and earn more.
Outside of those ideas, please remember to track your spending when trying to maximize the benefits of a Costco Executive Membership. That effort ensures you know you’re on track to earn the 2% reward without relying on the estimate you get from the dashboard.
Several budgeting apps can help you achieve this result, as can tools like Excel spreadsheets.
In return, you can maximize your cash back rewards with a Costco Executive Membership and enjoy the benefits of this premium option.
Is It Worth Shopping at Costco for Things?
Shopping at Costco can be worth it for many people, but it ultimately depends on your individual circumstances and shopping habits.
Costco stores are often large and can be overwhelming for some people. If you don’t enjoy the shopping experience or find it inconvenient to travel to a store, it may not be worth it. Their locations tend to be busy, especially during the peak hours of the day.
Costco’s products are generally high-quality, but not all items will meet everyone’s standards. Do some research or read reviews before purchasing certain things to ensure they are what you expect.
You’ll find that a Costco membership lets you access numerous items because they carry a wide variety of products, but not everything will always be available. If you have specific dietary or lifestyle needs, you may need to shop elsewhere to find what you want to meet your requirements.
If you have a large family or frequently use certain items, shopping in bulk at Costco makes sense. It’s an excellent way to save money, even when considering the cost of an Executive Membership. For those who live alone or don’t have space to store large quantities of items, buying in bulk may not be practical.
Then there is the consideration of frequency. If you only shop at Costco a handful of times per year, the savings you receive might not justify the membership expense.
Do I Need a Membership to Get Costco Hot Dogs?
One of the primary reasons why many people invest in a Costco membership at all levels is the option to purchase food while shopping. The most famous choice in these “court” areas is the $1.50 hot dog.
Generally, you need a Costco membership to buy food or other items from the food court, including the famous hot dogs. There are a few exceptions where non-members can come to purchase things.
In some states, Costco is required by law to allow non-members to purchase food court items. Some locations offer outdoor seating areas or food carts where you can access the menu without needing to gain entry.
It’s always best to check with your local Costco to see if they allow non-members to purchase food court items. If you’re making a trip just to get some food, call ahead if you don’t have a standard or executive membership to use.
Is a Costco Executive Membership Worth Purchasing?
The 2% cash back reward that members receive with a Costco Executive Membership can make this investment worthwhile. If a family regularly spends at least $6,000 on groceries at this bulk retail outlet, it pays for itself. Some can save even more by tapping into fuel, travel, and other discounts for their needs.
One of my first memories of Costco was a late evening when I was about six or seven. I remember this colossal store opening up as we walked through the front doors and the greeter making me feel special with a sticker and a coupon for a treat at the food court.
My family was there to get tires for our vehicle. We went straight back to their Tire Center, found what was needed, and the SUV went into the bay. I got to the food court and turned in my coupon for a free cookie.
There was a small TV in the waiting room, which I thought was great since we didn’t have one at home at that time. No one else was there, so I turned it on and found an episode of Mork and Mindy.
The rest of the experience is a bit of a blur, but I remember the joy of getting a treat and watching a show that made me laugh. Although it’s up to each person to decide if a Costco Executive Membership makes sense, for me, there’s more value than just the savings. It’s a way to help me feel connected to my family.
