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If you’re finally taking the leap and gearing up to buy a Costco membership, here’s a touch of bad news. Costco recently raised the cost of its memberships so that now, a basic Gold Star membership costs $65 a year. Before Sept. 1, the cost was only $60.
Costco also raised the price of its Executive membership at the start of September.
The upgraded membership now costs $130 instead of $120, but it comes with 2% cash back on your Costco purchases. If you think there’s a good chance you’ll spend $3,250 or more in the course of the next year shopping at Costco, then the Executive membership upgrade makes more sense than a basic membership.You might assume that it’s a bad time to join Costco, given these recent increases. But you should know that you can easily make back your membership fee by not only loading up on bulk grocery purchases but also by taking advantage of Costco’s many other benefits. Here are just a few of the perks members get to enjoy.
1. Low-cost, high-performance gas
Costco’s gas may be the cheapest option you’ll find in town. But it’s not just that you might pay less per gallon. You might also get better performance out of your tank.
Costco’s gas is TOP TIER™ certified, which means it contains five times the EPA detergent requirement in both regular unleaded and premium grades. Costco’s gas is also designed to clean your engine and help your vehicle run smoothly.
2. Discounted gift cards
Finding discounted groceries is basically a given at Costco — that’s what the store is known for. But did you realize that Costco also sells discounted gift cards?
It’s true. You can snag great deals at your local store or online, whether it’s dining gift cards or those for entertainment. Right now, for instance, Costco is offering the following gift card deals:
- $100 worth of Dave & Buster’s gift cards for $79.99
- A $50 Cinemark gift card for $39.99
- $60 in Krispy Kreme gift cards for $44.99
3. Savings on travel
You can use your Costco membership to save big on everyday purchases like cleaning supplies and paper products. But you might reap enough savings on a vacation package to make back your membership cost and then some.
Costco Travel offers a host of deals, from cruises to theme parks to island resorts. Plus, when you book through Costco, you get access to customer support in the event that your plans change or something goes wrong after you make your reservation. You can also get help comparing your options if you’re not sure which package is right for you.
You may be kicking yourself for not joining Costco before its fees went up. But remember, the value you get out of a Costco membership can far surpass the $65 or $130 you pay for store access. So if you think you’ll visit Costco on a regular basis or take advantage of its various services, then it makes sense to invest in a membership.
And remember, if your membership doesn’t work out, you can cancel at any time for a refund. So there’s little risk in trying one out.
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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Maurie Backman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale and JPMorgan Chase. The Motley Fool has a disclosure policy.
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