Thinking of signing up for a Costco membership? Here's a breakdown of plans, costs and benefits.
slobo/Getty ImagesThere are more than 800 Costco locations worldwide, and like Peloton riders or Disney fans, if someone is a member of the warehouse club, they’ll tell you all about it. Why? Costco is known for everything from its exclusive Kirkland brand of products to its food court, where guests can snag a quarter-pound beef hot dog and a soda for just $1.50.
The company first opened in 1976 as Price Club, a warehouse club for businesses. In the early '80s, the first Costco opened in Seattle, Washington, and by 1993, the two had merged into one mega-store. What makes Costco different from a grocery store, in addition to the savings it offers to those who buy in bulk, is its highly-selective stock: Where grocery stores can carry 30,000 different items, for example, Costco only sells about 4,000 products at a given time. Costco believes this helps it provide the best quality and value possible to its members.
Considering a Costco membership? Read on for everything you need to know to determine whether or not a Costco membership is worth it.
What are the benefits of a Costco membership?
One of the best parts of holding a Costco membership is you’re not limited to a single Costco location. As a member, you can shop at the Costco in your town, stock up on groceries at Costco on vacation, or anything in between. Members also receive discounts on travel, Costco gasoline, prescriptions, and tires.
There’s also free technical support on appliances and electronics purchased through your Costco membership, as well as same-day and two-day grocery delivery in some areas. And, Costco members receive discounts on necessities like auto insurance and home repairs through third-party service providers.
But the biggest benefit of a Costco membership are the in-club savings and access to Kirkland brand products, which range from shampoo to yoga pants.
How much is a Costco membership?
A Gold Star membership at Costco costs just $60 per year, and includes two membership cards and the ability to shop both in-club and online. There’s also a 100% satisfaction guarantee: If you’re displeased with your membership for any reason, Costco will cancel and refund your membership.
An Executive membership at Costco costs $120 per year and includes everything offered in the Gold Star membership, along with a 2% annual reward of up to $1,000 on Costco and Costco Travel purchases. Executive members also receive even more discounts from third-party service providers.
How can I get a free Costco membership?
While Costco does not offer free memberships, there are some groups who can receive a membership discount. College students over age 18 can join for $30 a year, and teachers, first responders, government employees, and members of the military can get a $30 Costco gift card when they sign up as a new member. Discounts are also available for hospital employees and medical providers.
Can you share a Costco membership?
Costco memberships cannot be shared between people who live at different addresses. While a Costco membership comes with two cards, one for a primary and one for an affiliate member, both cardholders must show proof of residency at the time of membership sign-up and must live at the same address.
How is Costco cracking down on membership?
With its risk-free 100% satisfaction guarantee, it’s simple to sign up for a Costco membership and give it a test run. While Costco has recently been cracking down on things like checking membership cards at its registers and asking members for photo ID, the company clearly states all membership conditions on its website. It’s a good idea to familiarize yourself with the rules before deciding if a Costco membership is right for you.
In addition to a single membership being only for residents of the same home, it’s a good idea to understand Costco’s guest policy. While members are permitted to bring two guests at a time into Costco, only Costco members are allowed to complete purchases in the store.
How can I get a Costco membership deal?
Looking for a Costco membership deal? StackSocial is currently running a promotion that new members a bonus $30 Costco gift card by signing up. The deal is for a 12-month Gold Star membership, which includes membership cards for two members of your household.
Is a Costco membership worth it?
Is a Costco membership worth it for you? Before you sign up, consider what you’re hoping to buy at Costco. People who live alone or go easy on their grocery consumption may find that buying in bulk creates food waste. Big families, on the other hand, will love stocking up on the essentials during trips to the warehouse store.
At around $5 per month on average, the Gold Star membership is a great way to spend a year shopping at Costco and comparing your spending to normal grocery stores. Chances are, you’ll discover some things are worth buying at Costco in bulk while others are best purchased at a grocer.