This Is One of the Biggest Costco Mistakes You Can Make

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Not familiarizing yourself with Costco’s policies could cause you to lose money. Read on to learn more. [[{“value”:”

There are plenty of good reasons to shop at Costco regularly. For one thing, you might incur a smaller credit card tab if you can buy your groceries and household essentials in bulk.

Also, your Costco membership might save you a lot of money on big-ticket items like electronics, furniture, and even a vacation. So maintaining a membership could be a really smart personal finance decision.

But if you really want to maximize your savings at Costco, then it’s important to be familiar with the chain’s rules. And that means understanding how Costco’s return policy works.

There’s plenty of leeway, but you’ll need to know the details

One of the biggest mistakes you might make as a Costco shopper is losing out on the chance to get a refund on a purchase that doesn’t work out. You should know that for the most part, Costco will take back any item at any time if it doesn’t meet your expectations. This means you could conceivably buy a jacket for your child in January and return it in August if they never end up wearing it.

Of course, there are some exceptions to this rule. Costco may not take back certain items with a limited useful life expectancy, like batteries, if you wait too long to make a return. But seeing as how Costco just refunded a customer for a 2.5-year-old couch they decided they didn’t want, you have a pretty good chance of getting your money back if your return is reasonable.

That said, there are some rules you need to know about Costco returns. First, you only get 90 days to return electronics. These include:

TVsComputersCamerasMajor appliances

Secondly, if you’re returning larger diamonds, you won’t get an instant refund. Instead, you’ll get a temporary credit while a specialist inspects your returned item for authenticity. If it passes, you’ll then get your money back.

You should also know that Costco will not let you return cigarettes and alcohol. If you’re buying a lot of booze for a party, make sure you really need it, because otherwise, you might end up stuck with it. You also can’t return gold bars, silver coins, and Costco Shop Cards (the store’s version of a gift card).

Don’t lose money for no good reason

Reading up on Costco’s return policy could help you avoid a scenario where you don’t get your money back because you waited too long to bring a given item back to the store. It could also help you make a more informed decision as a consumer, such as in the case of buying something that can’t be returned at all.

But for the most part, Costco will take back purchases long after you’ve brought them home. So don’t be worried about bringing back a pair of pants you purchased five months earlier or a toy you bought your child for Christmas that’s still sitting unopened as of late February.

You may have heard rumors that making too many Costco returns will put you at risk of having your membership revoked. But you have to make a lot of returns for that to happen, and also, unreasonable ones, like bringing back rotting fruit 10 days after buying it and demanding a refund.

For the most part, if you’re reasonable with your returns, your membership won’t be taken away. So you shouldn’t hesitate to try to get your money back when a Costco purchase doesn’t work 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.Maurie Backman 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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