IF you get the Executive Membership and at the end of the year (end of the membership year I guess) you do not get enough value out of the membership you can ask for a refund of the extra $60 it cost you to upgrade your membership.
I have never had a Costco membership and have been wanting to get one as I will be moving away from home to go back to school and I have only heard great things about Costco. Thank you for clearing this up and I now know to definitely go for the executive membership!
Me and my parents share the gold membership together. I live alone in TX and rarely go to Costco. My parents live in Southern Cal and go to Costco more often but not spending enough for executive membership. The money they save on gas at Costco alone justifies the Costco gold membership though. I believe the gas spending doesn't count toward the 2% rebate.
55% of members opt for the upgrade, so that warm fuzzy feeling of feeling unique and special actually is only in your head. You are actually in the majority, not the unique minority.
I had the executive membership but couldn't afford to use it enough to break even. I wasn't too far, but still didn't reach 3k in a year. I moved too far from any location to make renewing not worth the long distance drive. I love shopping Costco, but I'm not going to drive the approximate 50 miles each way to blow all my shopping for the month on one merchant. If I lived about 15 miles or less, I'd still be an active member.
We just visited Costco for the first time. I bought a membership through Stack Social, which cost $65 for the gold card, but I received a $45 voucher to spend. They did talk us into the Executive level, but the selling pitch was if we don’t spend enough to benefit the additional cost, they will refund it. I did apply for the Citi card and I intend to use it as often as possible to benefit from the cash back feature. We are not buying for a family so I don’t think we will be setting any records there.
I was new to Costco so I was advised to get executive membership bcz for that I can get 3% cash back on purchases at gas stations or restaurants. It was $120 for membership but I aonly had to pay 60 and rest $60 credits they applied to my Mastercard that I will get along with it worth $3000. So if someone is totally new to Costco they should get executive bcz u r still paying same $60 for membership and get cash back benefits
It's 3k you have to spend extra to offset the extra $60. I assume that means you have to spend another 3k for the gold card member level cost. So essentially 6k spent a year to break even. Plus there is time value of money. They have your full $120 at the beginning of your one year membership. If you can earn more than 2% on your $120 invested after taxes then that negates the 2% additional saving. Of course if you use the other executive benefits than the 2% isn't as much of a weighing factor in deciding if to upgrade from regular to executive level.
Fair analysis! We have the Executive membership because we do ALL of our shopping at Costco. We also booked a Costco Travel trip and are also earning 2% cash back on that too!
The value of just being able to shop at Costco itself should negate the $60 fee. The 2% cash back is what should negate the additional $60 for the executive membership. Negating the whole annual fee is a nice to have, but $3000 minimum spend is all that’s required to deem the executive card “worth it”.
I was told that if you have the executive membership and do not receive a check for at least the price of the standard membership, they will refund you the difference, so its no risk to get the executive membership.
@@duckbrew The executive membership pays you a certain percentage for spending money there. 2% back on Gas 1% back on everything else. I know there is more to it. I just got a check for less than 60 but don't remember what my membership was last year. The check comes around the time of membership renewal.
Thank you for your explanation. We did the gold them two weeks later somebody gives us the talk and we upgrade but honestly for us isn't worth it because we are not leaving close to any Costco so we may go back to regular membership. Also, we won't expend 3000 a year so we didn't get the 60 dollars back we got 20 dollars😢😢😢. Again thank you for your explanation.
Is there any difference whether or not you get the Citi Costco card on top of either memberships? Does it matter? I think you get the cashback via Citi seperately from The Exec cash back right?+
I'm going for the year now and I have not received the supposedly check? I got the gold membership if i downgrade does my citi credit card still work the same. I would get cash back on it?
This spreadsheet isnt a normal spreadsheet. Theres alot of people that spend at least 300$+ each time they go I get at least 300$ back yearly plus more cash back on my citb bank costco card
It depends! Shipping on MOST items is included, but there are some items, that are shipped directly from vendors/mfgs, that have an additional shipping & handling fee
My husband and I bought the executive card, and sorry we did !!! It was worth it the first year since we got a deal and only had to pay an extra $10.00 for it, but won’t renew it next year, we aren’t making that much on our Costco Visa card that we got with it and it is just too confusing keeping track of his, mine and ours stuff !!!! And I am sure the renewal fee will be a lot higher !!!
I Believe; if you dont hit the 6k threshold you can actually go to membership desk at the end of the year and excess will be refunded to you. so basically a free executive upgrade. I may be wrong.
IF you get the Executive Membership and at the end of the year (end of the membership year I guess) you do not get enough value out of the membership you can ask for a refund of the extra $60 it cost you to upgrade your membership.
Yes you can “return” your membership!!
Good to know!
Thank you. I was wondering if I made a mistake!
Good point
Thanks for explaining that it’s much more clear now on the differences between executive and gold levels.
Glad to help!
It's definitely worth it if you are buying for a family. If you are an individual the basic card is fine.
Would I get the discounts for groceries with basic card?
I have never had a Costco membership and have been wanting to get one as I will be moving away from home to go back to school and I have only heard great things about Costco. Thank you for clearing this up and I now know to definitely go for the executive membership!
Happy it helped you make your decision!! Costco is the best 💯
They’re a Fortune 500 company for a reason
Me and my parents share the gold membership together. I live alone in TX and rarely go to Costco. My parents live in Southern Cal and go to Costco more often but not spending enough for executive membership. The money they save on gas at Costco alone justifies the Costco gold membership though. I believe the gas spending doesn't count toward the 2% rebate.
Whipping out your executive black card at the door is the best part of owning the black card 😂
The ultimate flex 💪 😂
@@costcozaddy😂😂
@@costcozaddyplease elaborate
55% of members opt for the upgrade, so that warm fuzzy feeling of feeling unique and special actually is only in your head. You are actually in the majority, not the unique minority.
I had the executive membership but couldn't afford to use it enough to break even. I wasn't too far, but still didn't reach 3k in a year. I moved too far from any location to make renewing not worth the long distance drive. I love shopping Costco, but I'm not going to drive the approximate 50 miles each way to blow all my shopping for the month on one merchant. If I lived about 15 miles or less, I'd still be an active member.
We just visited Costco for the first time. I bought a membership through Stack Social, which cost $65 for the gold card, but I received a $45 voucher to spend. They did talk us into the Executive level, but the selling pitch was if we don’t spend enough to benefit the additional cost, they will refund it. I did apply for the Citi card and I intend to use it as often as possible to benefit from the cash back feature. We are not buying for a family so I don’t think we will be setting any records there.
I was new to Costco so I was advised to get executive membership bcz for that I can get 3% cash back on purchases at gas stations or restaurants. It was $120 for membership but I aonly had to pay 60 and rest $60 credits they applied to my Mastercard that I will get along with it worth $3000. So if someone is totally new to Costco they should get executive bcz u r still paying same $60 for membership and get cash back benefits
It's 3k you have to spend extra to offset the extra $60. I assume that means you have to spend another 3k for the gold card member level cost. So essentially 6k spent a year to break even. Plus there is time value of money. They have your full $120 at the beginning of your one year membership. If you can earn more than 2% on your $120 invested after taxes then that negates the 2% additional saving. Of course if you use the other executive benefits than the 2% isn't as much of a weighing factor in deciding if to upgrade from regular to executive level.
Fair analysis! We have the Executive membership because we do ALL of our shopping at Costco. We also booked a Costco Travel trip and are also earning 2% cash back on that too!
The value of just being able to shop at Costco itself should negate the $60 fee. The 2% cash back is what should negate the additional $60 for the executive membership. Negating the whole annual fee is a nice to have, but $3000 minimum spend is all that’s required to deem the executive card “worth it”.
Does buying from the foodcourt count into the 2% reward?
No
No, it does not
No, it does not
I was told that if you have the executive membership and do not receive a check for at least the price of the standard membership, they will refund you the difference, so its no risk to get the executive membership.
Can you explain that further?? What's the cheak you're refering to? I just got got an exec memship last sat and I'm not sure if it'll be worth it.
Wow, that’s nice to know
@@duckbrew The executive membership pays you a certain percentage for spending money there. 2% back on Gas 1% back on everything else. I know there is more to it. I just got a check for less than 60 but don't remember what my membership was last year. The check comes around the time of membership renewal.
Great infos! Thanks!
Trying to switch from Sams to Costco😊
Thank you for your explanation. We did the gold them two weeks later somebody gives us the talk and we upgrade but honestly for us isn't worth it because we are not leaving close to any Costco so we may go back to regular membership. Also, we won't expend 3000 a year so we didn't get the 60 dollars back we got 20 dollars😢😢😢. Again thank you for your explanation.
Only get the Executive membership if it’s worth it for you! Happy it helped 😊
Is there any difference whether or not you get the Citi Costco card on top of either memberships? Does it matter? I think you get the cashback via Citi seperately from The Exec cash back right?+
Does buying gas count?
Gas does NOT qualify for cashback
Going to Costco tomorrow now that our Sams club membership expired. Great video!
Thank you!
I'm going for the year now and I have not received the supposedly check?
I got the gold membership if i downgrade does my citi credit card still work the same. I would get cash back on it?
Only the executive membership is eligible for cash back
There are 6 costco's near me ..but almost 1 hour drive to Sam's club..lol..
Sam's Club sucks anyway 😂
This spreadsheet isnt a normal spreadsheet. Theres alot of people that spend at least 300$+ each time they go I get at least 300$ back yearly plus more cash back on my citb bank costco card
Do they offer free shipping? Or is there a minimum?
It depends! Shipping on MOST items is included, but there are some items, that are shipped directly from vendors/mfgs, that have an additional shipping & handling fee
My husband and I bought the executive card, and sorry we did !!! It was worth it the first year since we got a deal and only had to pay an extra $10.00 for it, but won’t renew it next year, we aren’t making that much on our Costco Visa card that we got with it and it is just too confusing keeping track of his, mine and ours stuff !!!! And I am sure the renewal fee will be a lot higher !!!
You can return your executive membership and they will refund you the money!
Thanks! Great video
Thank you 🙏
Audio level too low! Good video, but had to turn the volume up very high compared to other videos on RUclips. Can you re-record, or re-upload? Thanks!
Thanks for the feedback! We'll fix this for upcoming videos
I just want to know i must to pay 120$ every years or juste for once
You must pay the membership fee every year! It is not a one-time fee.
I want a membership just for food court use. They could offer a cheaper membership just for food court.
I never need to shop costco..
Try purchasing a Costco shop card instead, that way you don't have to to commit to a membership
Thank you for sharing your information
You’re welcome! Thank u for watching 🙏😊
Tengo la tarjeta negra por mas de 10 años y me gusta ❤
after using my parents membership for the longest, I finally got my own lmao
In my teens and early 20s, I was also riding my parents' Costco membership coattails lol
It's not worth it if you don't have a family
so spending $250 a month, you get $60 cashback every month?
No a year
By spending $250 a month you'll get the equivalent of $5 cash back a month in the form of one reward at the end of the year totalling $60
I have 2 toddlers and an infant on the way looks like I need to go the executive route
I Believe; if you dont hit the 6k threshold you can actually go to membership desk at the end of the year and excess will be refunded to you.
so basically a free executive upgrade.
I may be wrong.
This is correct!!
I need Costco to work with Amex!!
They used to, but now they only take Visa 😢
Thanks ..so I am decided
Most welcome 😊
@costcozaddy is it 120 a month? Or year
@@HamChex 120/year
the more you spend the more broke you are, cash back is for NPCs ...no thanks I'll stick to being an executive peasant
did you use your gf lipstick 💄
The price looks like canadian
They get so aggressive at checkout pushing you into an executive membership, you say no thanks and they keep annoying you!😡
Thankfully, I have never experienced that!
Yup. They're annoying as fuck.
I think he get pay by Costco
Sam’s club is starting to look more attractive since Costco is deciding to raise their membership fees every year
My wife wants to know your skin routine? 😬🤣
Water, sleep and exfoliation 😂
Youth