3 Costco Perks You’ve Probably Forgotten About (2024)

3 Costco Perks You’ve Probably Forgotten About (1)

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It took me a few months after getting a Costco membership to realize I could get discounts on everything from vacations to hotels and even warranties for electronics. After that, I went online to see what Costco perks I’d overlooked, and there’s a lot I didn’t know about.

Even if you’ve been a Costco member for a while, I’d bet there are a few membership benefits you’ve probably forgotten about. Here are three that are easily missed.

1. Discounts when buying a car

I once spent most of a rainy Saturday haggling on the price of a used car, burning up a lot of time and much of my own patience trying to get a good deal. It worked out pretty well for me, but had I known about Costco’s car-buying perk, I probably would have signed up for a membership without hesitation.

Costco members get reduced new and used car prices with their membership — no haggling required. Just start the car-buying process at CostcoAuto.com, and you can get a prearranged price from local dealerships. Then, just show up at the dealership, take a test drive, and buy the vehicle if you want.

You can also save on parts, services, and accessories as an added perk.

2. Cheaper home and auto insurance policies

You may have noticed lately that insurance costs have skyrocketed. If you haven’t, you may want to check your latest policy update. Homeowners’ insurance premiums have risen 20% over the past two years, and car insurance rates have jumped by about the same percentage in the past year.

I’ve been guilty of choosing an insurance policy and never thinking about it again, but that’s a terrible way to get the best deal. If you’re a Costco member, you can save without doing much comparison shopping.

Costco says that members save an average of about $596 on auto insurance the first year after they switched to Costco’s CONNECT insurance, powered by American Family Insurance. You can also save with Costco insurance through student discounts, safe driving, and signing up for multiple products.

Since 9 out of 10 Costco members renew their CONNECT policies, it’s clear that most members feel as if they’re getting a great deal.

3. Deals on pet insurance

Caring for pets can be very expensive these days, considering that routine pet checkups can cost up to $250. However, Costco members can save money by signing up for Figo Pet Insurance through Costco.

The company says members may be eligible for an exclusive discount on insurance plans. For example, Gold Star and Business Members can receive up to a 15% discount.

There are additional perks of getting pet insurance through Costco, like access to a live vet or vet tech 24/7 via text and having access to your pet’s medical records through Figo’s Pet Cloud app.

If you’re already a Costco member, it may be worth looking into these perks to see how they could help you free up money in your budget. And if you’re not a member, spending just $65 for a Gold Star membership or $130 for the Executive Membership could easily be worth the price with the cost savings from just one of the perks on this list.

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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.JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Chris Neiger 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.

3 Costco Perks You’ve Probably Forgotten About (2024)

FAQs

3 Costco Perks You’ve Probably Forgotten About? ›

Does Costco offer free or discounted memberships? Costco doesn't offer free or discounted memberships, but rest assured that the cost of membership can be recovered quickly thanks to massive price savings once you start shopping.

What are three perks of Costco Executive Membership? ›

3 Little-Known Perks of a Costco Executive Membership
  • Save more money when you order checks. If you need to order checks, an Executive Membership can help you save even more money. ...
  • Access additional travel benefits. You'll also get access to additional travel perks as an Executive member. ...
  • Get extra insurance benefits.
Jul 6, 2024

How to get Costco membership free? ›

Does Costco offer free or discounted memberships? Costco doesn't offer free or discounted memberships, but rest assured that the cost of membership can be recovered quickly thanks to massive price savings once you start shopping.

How do I get the most out of my Costco Executive membership? ›

Costco Executive Members receive a 2% Reward on qualified purchases (see calculation of 2% Reward below). Reward is capped at and will not exceed $1,250 for any 12-month period. Only purchases made by the Primary and active Primary Household Cardholder on the account will apply toward the Reward.

What are the incentives for Costco membership? ›

Best Value & Exclusive Benefits
  • Annual 2% Reward. Up to $1,250 on eligible Costco and Costco Travel purchases. ...
  • Costco Services Discounts. Additional benefits and discounts on many Costco services.
  • Shop Online and in Warehouses. ...
  • Includes 2 Membership Cards. ...
  • 100% Satisfaction Guarantee.

Is the Costco Executive membership worth the extra money? ›

But if your annual spend regularly tops $3,250, you're better off with the Executive Membership. Every additional dollar you spend after $3,250 will bring your annual fee further and further below $65 and end up saving you money in the long run.

Do executive members get 2 on gas? ›

Gas purchases, for example, do not earn you cash back as an Executive member. Neither do cigarette purchases or alcoholic beverage purchases in certain states. Additionally, Costco Shop Cards (Costco's version of a gift card) won't be eligible for cash back, and neither will postage stamps.

How to get a $30 Costco membership? ›

If you've been thinking about becoming a Costco Wholesale member, now is the perfect time. That's because Costco is offering a new promotion on memberships right now: Join as a new member online at costco.com and enroll in auto-renewal of your annual membership. Then you'll receive a $30 Digital Costco Shop Card.

Does Costco offer a senior discount? ›

Costco does not offer "senior discounts." But the same low prices that Costco offers to all shoppers can be an especially good value for retirees on a budget. Enjoying life in retirement depends on how you want to spend your time and money.

How do I avoid Costco membership fees? ›

No Costco Membership? No Problem. Here's How You Can Still Shop
  1. A Costco Shop card lets you enter and shop without a membership.
  2. You can use Costco for prescription drugs and eye exams without being a member.
  3. In some cases, a membership fee could still pay for itself, especially if you shop online.
Aug 6, 2024

Do you actually save money with a Costco membership? ›

The risk of joining Costco is paying for a membership that doesn't save you much money. Ask yourself how often you're likely to shop at Costco and whether bulk purchases make sense for your household. See if there are non-grocery and household items you may be able to buy at Costco.

What is excluded from Costco Executive Membership? ›

In the U.S., Rewards are not calculated: (i) on purchases of cigarettes or tobacco-related products, gasoline, Costco Cash Cards, postage stamps, alcoholic beverages in certain states (including Alabama, Connecticut, Georgia, Kentucky, Michigan, Ohio and Tennessee), and at food courts; (ii) on membership fees; (iii) on ...

How much do you have to spend at Costco to break even? ›

Dividing $65 by 2%, we can see that the amount of Costco spending needed to earn a $65 annual reward is $3,250. This is the amount you would need to spend to break even on an Executive membership's cost. If you spend more, the Executive membership could be an easy decision.

What is the PARA24 code for Costco? ›

Join as a new Executive Member and enroll in auto renewal to receive a $40 Costco Shop Card. Or, join as a new Gold Star Member and enroll in auto renewal to receive a $20 Costco Shop Card. Be sure to enter the code PARA24 at checkout to enjoy this promotion.

What are Costco perks? ›

3. Upgrade for even more. Executive Member benefits include an annual 2% Reward (up to $1,000)* on qualified Costco, Costco.com and Costco Travel purchases. Plus, Executive Members receive additional benefits and greater discounts on many Costco Services, including Costco Travel. *Terms, conditions and exclusions apply ...

Which is better, Sam's Club or Costco? ›

Costco has more stores across the globe, is expanding rapidly, and generally offers cheaper prices than Sam's Club does, although the latter charges slightly less for membership, has a bigger presence in the U.S., and stocks more name brands.

What is the difference between the regular and executive membership at Costco? ›

For most people, the primary difference between the $120 Executive membership and the $60 Gold Star membership is the Costco Reward. As a Costco Executive member, you earn 2% back on your in-store purchases in the form of an annual Costco Reward (up to $1,000 back).

What do you get back with Costco Executive Membership? ›

An Executive Membership is an additional $60 upgrade fee a year and includes an annual 2% Reward (up to $1,000) on qualified Costco.

Can you have 3 people on a Costco Executive membership? ›

How many people can be on my Costco membership? A total of two people can be on a Gold Star Membership (either regular or Executive): one Primary Member and one free household member who is over 16 and lives at the same address.

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