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Costco offers deals on everything from travel to gas. Discover why the $120 fee for an Executive membership is worth it. [[{“value”:”
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When it comes to shopping at Costco, it’s like stepping into a treasure trove of epic deals and unexpected delights. You know the drill — a quick trip for milk somehow turns into a full-on adventure featuring a 12-pack of LED bulbs, a tub of guacamole the size of your head, and maybe even a kayak.
But here’s the kicker: some Costco membership benefits can save you at least $100. Considering the Executive membership annual fee is $120, you could easily make up the annual fee if not more. Ready to dive into the savings? Let’s go!
1. Annual 2% reward
One of the biggest perks of an Executive membership is the annual 2% reward on eligible Costco and Costco Travel purchases. You can earn up to $1,000 back each year. It’s like getting paid to shop! If you’re a regular at Costco, those little percentages add up quickly.
Whether you’re stocking up on groceries, upgrading your electronics, or booking a dream vacation through Costco Travel, the rewards check at the end of the year feels like a well-deserved bonus. Plus, it could cover the cost of your membership (if you spend $6,000 a year at Costco), making every shopping trip more rewarding.
2. Prescriptions
Healthcare costs can be a significant burden, but Costco helps lighten the load. Our calculations show that buying five commonly prescribed drugs and three popular over-the-counter medications at Costco can save you about $739 per year. That’s a huge savings that directly impacts your wallet and your well-being. And if you take advantage of bulk quantities or Costco’s private-label Kirkland brand over-the-counter medications, those savings can increase even more. It’s a win-win for your health and budget, proving that smart shopping at Costco is good for both. You don’t need an Executive membership to enjoy these savings since they apply to the Gold Star ($60 per year) membership too, but Executive members may earn 2% back on their prescriptions.
3. Costco Travel
Costco Travel is a hidden gem that many members swear by. One member snagged a five-night stay in Hawaii, complete with hotel and car rental, for just $2,000. If you booked the same hotel separately, it would cost $2,300 for the same dates. That’s $300 in savings right there!
And it’s not just Hawaii — many members rave about the value and service of Costco Travel for cruises, international trips, and more. Whether you’re planning a romantic getaway or a family vacation, Costco Travel can help you get more bang for your buck, turning dream vacations into affordable realities. Executive members also earn 2% on travel spending.
4. Extended warranty
When you buy products at Costco, the savings don’t stop at the checkout. Costco extends the manufacturer’s warranty for up to two additional years on items like computers, televisions, projectors, and major appliances. This extra protection can save you hundreds of repair costs or replacement expenses if something goes wrong. Instead of stressing over a broken appliance just out of the manufacturer’s warranty, you can rest easy knowing Costco has your back. It’s a peace-of-mind benefit that keeps your credit card bills down and your home running smoothly.
5. Gas discounts
Fueling up at Costco can lead to significant savings, especially with today’s gas prices. On average, you can save about $0.20 per gallon at Costco. For a vehicle that uses 489 gallons a year, that’s roughly $98 saved annually. Given that the average U.S. gas price is $3.61 per gallon, those savings add up. By choosing Costco for your fuel needs, you’re putting nearly $100 back in your pocket every year just by filling up your tank. It’s a simple way to keep more of your hard-earned money while enjoying the convenience of Costco’s high-quality fuel.
Executive members don’t earn 2% back on gas, but the gas savings could already be worth it, especially if you drive a lot.
So there, you have five fantastic Costco membership benefits that save you at least $100. With savings on everything from travel to prescriptions and even gas, it’s like having a money-saving sidekick that boosts your personal finances every time you shop.
Top credit card to use at Costco (and everywhere else!)
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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.The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.
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