How to Maximize Your Costco Executive Membership Benefits

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Your Costco Executive membership costs a bit extra, but it comes with massive benefits that a basic membership can’t provide. Learn how to make the most of them. [[{“value”:”

Membership has its benefits, as we’ve all been told, but there are very real and tangible advantages to being a Costco Executive member. Out are the basic $65 Gold Star memberships (up from $60 beginning Sept. 1), and in are the more spendy, but far more rewarding, Costco Executive memberships.

But now that you’ve dropped $130 on a Costco membership (up from $120 beginning Sept. 1), how can you make the most of it?

1. Buy more at Costco

It might sound like pretty basic advice, but the truth is that the best way to maximize your Costco Executive membership benefits is to spend more money at Costco. This shouldn’t be hard, given how much stuff it has for sale and how much of it you probably need every day.

Costco Executive members earn 2% back on eligible purchases, which is most anything in the store or on the website besides cigarettes, tobacco products, gasoline, Costco Shop Cards, postage stamps, alcohol (in some states), prescription drugs (in some states), and food at the food court, including the infamous Costco hot dog combo — which, frankly, is so affordable you don’t really need money back on it anyway.

2. Only use your primary membership when shopping

Costco will give you an extra membership card for another adult in your household, but unfortunately, only the primary member can earn rewards on purchases. That goes for anything purchased inside the warehouse, or through the website, including Costco Travel bookings.

Another important thing to note is that if the primary household cardholder is removed from the account at any point, their purchases will not apply toward the reward. So, even if you can’t stand the sight of your primary household cardholder, hold out on splitting up your account until your reward coupons come, which is about three months prior to your renewal.

3. Plan more major purchases around Costco

There are a lot of major purchases we make, and Costco sells almost all of it. You’ll want to price check the competition, but I’ve checked Costco on tons of items for The Ascent, and generally its prices are on par, if not better, than similar products elsewhere. So, for that reason, I highly recommend planning more of your big buys around what Costco’s got.

Need a couch, need a TV, need a refrigerator or toaster to cater Thanksgiving? No problem, Costco’s got you. It even carries lots of basic DIY materials, like luxury vinyl plank flooring, offers professional installation of items like solar panels (you can get cash back on those, too), and provides a range of business services.

Since you can only earn $1,250 in rewards yearly (up from 1,000 beginning Sept. 1), you might not need to spend all your money at Costco, but spending up to $62,500 will allow you to maximize your benefits. If you have teenagers, you can probably do this in groceries alone.

4. Considering a vacation? Yep, you guessed it — Costco

If you’re into cruises or theme park getaways, you can get packages for these through Costco Travel. You can even get a seven-night stay, with airfare, for $6,200 per person to Tahiti and stay in one of those little huts that’s suspended above the ocean. Along with all the memories you’ll make, you’ll also generate some pretty heavy rewards using your Costco Executive membership.

Even if you’re not going on vacation, and just simply need to rent a car for some incredibly mundane reason like that you had a car accident and need a vehicle to get to work for a few weeks, there are Costco Executive rewards for that, too. When you explore the Costco website, so many possibilities for earning that $1,250 reward appear like magic.

Maximize your Costco Executive membership and your budget

Look, I love a good deal as much as anybody, and with a Costco Executive membership, you can get great deals on a range of products, get cash back in the form of a yearly reward certificate, and it’s all very budget-friendly. Although the Costco Executive membership is twice the cost of the basic Gold Star membership, it’s really a quadruple threat.

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Add on the competitive 0% interest period and it’s no wonder we awarded this card Best No Annual Fee Credit Card.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
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.Kristi Waterworth has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.

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