Costco Gold Star vs. Executive Membership: Which Is Right For You?

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Comparing Costco membership pricing and benefits to see if the Costco Executive Membership upgrade is worth it over the Gold Star Membership. Watch for the simple math to see which makes the most sense for you!
Tell me your best Costco tips in the comments and be sure to check out my other Costco videos!
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2 more member tips:
-If you're signing up for the first time, go Executive. They will increase your rebate to $60 if you don't get that back in year 1 and automatically downgrade your membership. No risk! (ask when signing up to be sure...)
-You don't need a membership to go to the optometrist, pharmacy, photo center, or shop for alcohol.
Thanks for watching!

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Опубликовано:

11 апр 2019

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Комментарии : 67

@PrincessJess101 4 года назад

Just to point out too is that you will always make back the difference that you get in the check and how much you paid to upgrade. For instance, if at the end of the year you got $30 back in your reward check and you go into the store to renew and ask to downgrade they will give you your other $30 back for the difference that you paid.

@TheMoneyResolution 4 года назад

Excellent note to add. Thank you for sharing this! I appreciate it :)

@mlindholm 3 года назад

@@TheMoneyResolution As she said, but I'll expand on it. The first year you sign-up, you DO pay the extra $60 out of pocket. Every year after that, you either earn >$60 in your certificate, which means it's paid for itself (effectively you got a $60 smaller certificate), or you don't earn $60...say, $20. You go to customer service with your certificate, and renew your executive membership for the next year. But you do it in 2 transactions...first, you tell them, "I was dissatisfied with my Executive Membership, I would like a refund." That exact phrasing isn't important, people do this all the time, but I believe you DO need to _ask for a refund_ of your prior year's membership. You don't actually downgrade, you simply get a refund of the past year, then renew Executive again. They'll refund your Executive upgrade, minus the value of your certificate. (60 minus 20 (above), is $40). Then, you'll be using the $20 certificate, the $40 refund (which isn't actually handed to you), and an additional $60 from you for the next year's Executive Renewal. This way, if you ever DO buy a large ticket item, or earn $60.01 in a year, you do actually get that extra amount paid out. TL,DR: Always get the Executive Membership. It costs you extra the first year, and nothing more out of pocket every year after.

@GORILLA_PIMP Год назад

@@mlindholm What if you only want a membership for a year or less? Still better to get executive?

@sketch112 4 года назад

Thanks man, that was really helpful. I just got my renewal letter and was debating if the upgrade was worth it. After doing the math, for me it wasn't. Thanks again :D

@TheMoneyResolution 4 года назад

Glad that was helpful Raj! Thanks for checking out the video!

@dipaknadkarni62 3 года назад

I just retired from the Navy this year. I had never been a member of Costco and got the executive membership for free.

@pantsuck11 2 года назад

can you tell me how. I'm miltary as well

@andrewwhalen179 10 месяцев назад

I would say that you should take the difference in the cost of the upgrade vs the Gold membership for your cash back break even point. So $60 difference between the executive and gold memberships divided by your 2% cash back would be $3,000/year. The original $60 would be used towards the standard costco membership cost regardless so any cash back that you get beyond that $60 is paying for your original membership fee.

@luvroxie4589 Год назад

Thank you 💝

@TheMoneyResolution Год назад

You're welcome - thanks for watching!

@hollyharper-smith8215 2 месяца назад

For those that need them, their hearing aid purchase and services are really good👍

@TheMoneyResolution 2 месяца назад

Totally agree! I've heard the same.

@captaindadpool7904 3 года назад

Thanks for this. Just went with the basic card. Thanks again

@TheMoneyResolution 3 года назад

Awesome. So glad it helped!

@toniacbc Год назад

I was wondering if I should upgrade my membership 🤔. Thx for ur help.

@TheBloxieRblx 3 года назад

I have been using Costco gold star membership for so long, just making sure I made the right choice

@epicrazy1523 2 года назад

In all honesty you can try it out, if it doesn’t work out for you, just go to the membership desk before you expire and they can help you

@TheMoneyResolution 2 года назад

Totally. I just upgraded to gold to try it out!

@davecooper360 3 года назад

I signed up yesterday for Executive Membership and the Costco Visa so I'll get 4% cash back (2% from the EM card +2% from the Visa). Also I will get $100 in gift credits so the whole thing only cost me $20!!!

@TheMoneyResolution 3 года назад

Costco for the win!

@kinart2543 Год назад

The Amex Blue Cash cards give 3% back on online and grocery. Not bad for no annual fee. Read the limits if any.

@jvolstad 2 года назад

I downgraded to the Goldstar membership. The Executive membership wasn't worth it. I do have the Citi Costco credit card, and just got my rebate check. $186 for 2021. I love the 4% discount I get on Costco gasoline for using the Citi credit card.

@isaacscott1063 3 года назад

My job pays for Costco or Sam’s cards business cards every year. I upgrade and pay the difference with cash back money!

@TheMoneyResolution 3 года назад

Brilliant! Thanks for sharing Isaac!

@macgamer1973 3 года назад

6:28 avocado dip goes pretty fast

@carlosenriquez2092 Год назад

The checkout is a joke often you will find that you spend more time in line than you will gathering your merchandise. They really need to get it together.

@TheMoneyResolution Год назад

I can't disagree. Show up right when they open. That's the only trick to avoid it!

@thebigmann81 Год назад

Check out not that bad but damn trying to leave is a joke they need more employees checking receipts or do away with it completely.

@Star-vg7ix Год назад

The cashiers and the helpers do talk about people!!

@Jimmynitro76 3 года назад

I miss Seattle!

@TheMoneyResolution 3 года назад

Hah I forgot about those opening shots. It's the perfect time of year to visit!

@mariamota39 3 года назад

I just want the Costco card for traveling

@jimmya486 3 года назад

Thanks champ ....you saved me $60

@TheMoneyResolution 3 года назад

You can Venmo half my way. TOTALLY kidding. That's awesome! 👍

@luvroxie4589 Год назад

I just spoke to my insurance company and Walgreens is charging me 112 for a prescription and at Costco they said it would be 88 dollars and add a Goodrx coupon it come to 44 dollars at Costco..so I am getting a Costco card tomorrow.🤔😳💝

@TheMoneyResolution Год назад

That's awesome!!

@DebRoo11 3 года назад

Is the gas discount the same with both card options? I have an executive card (new Costco member) and when I use the pump it shows the price per then when I swipe my Costco card it goes down even cheaper.

@TheMoneyResolution 3 года назад

I can’t say for certainty but I’m pretty sure it’s the same discount for gas. 👍

@mardiifest Год назад

No. Gold membership has nothing

@kellydavis7539 4 года назад

Also you can cash it out and use it WHEREVER you want not just for Costco purchases

@TheMoneyResolution 4 года назад

Great tip Kelly!

@ceryceryosborne2862 3 года назад

giftcard2day22.blogspot.com/2020/11/a-gift-card-to-spend-at-costco-enter.html

@TheHitDat Год назад

If you buy gas just there you could spend almost 6K a year

@johnmorrow4719 Год назад

not too much early warning. I use it a lot and split it 4 ways until my nephew renewed without me.

@financeroyce474 2 года назад

Do you get 2% off on the gas??

@TheMoneyResolution 2 года назад

4% cashback on gas!

@CUSTOMWORKS7.3PSD 3 года назад

I would never pay a store to shop this is insane

@TheMoneyResolution 3 года назад

Hah I get it Allyn. The subscription model isn't for anyone. I also pay to use Amazon Prime technically. Unfortunately, I don't think these models are going away anytime soon for some...

@h2t26 3 года назад

I had the same thought for many years. When Covid hit and it was one of the few places you can get TP I tried it. I actually like it, not the model but the store. I save more then the $60 I pay for it, so it works out and I'm just buying for me. A family of four can really rack in the savings. For me even breaking even is worth it cause they have great quality items and exclusives. I agree with you, but having tried it I can say I also understand why its a very popular store that is always packed.

@Pulpswo 4 года назад

If your membership is damaged you can always get a new one.

@TheMoneyResolution 4 года назад

I did a more recent videos about Costco hacks and you can actually “return” your membership if you’re unhappy. Not sure if that’s what you meant but thought I’d share!

@Pulpswo 4 года назад

@@TheMoneyResolution Yes you can cancel your membership anytime. Don't do it too often or they will catch on and will probably ban you. I mean if your membership card is damaged you can get a new one for free.

@TheMoneyResolution 4 года назад

That makes sense. I went last weekend. I should have asked!

@shahub5 Год назад

2:03

@moyeaperkins3083 Год назад

My brain hurts tryna understand all this

@smirnasanchez7636 3 года назад

I just fuck it up cuz I got the $120 dollar duck my life

@TheMoneyResolution 3 года назад

You can return your membership! Give them a call or talk to customer service.

@TheMoneyResolution 3 года назад

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@MrStarofTruth 4 года назад

that costco seems like a rip off..

@TheMoneyResolution 4 года назад

It can be if you don't use it right. It really depends on how often you go there and what you buy (and of course, what membership you get). Get the most out of Costco with my Costco hacks video :)

@MrStarofTruth 4 года назад

@@TheMoneyResolution i going to make them lower those prices , i have sams club and they are so much cheaper on so many things.

@isaacscott1063 3 года назад

@@MrStarofTruth but Costco has more to offer

@rawnuhld 3 года назад

@@MrStarofTruth Costco’s way better imo

@MrStarofTruth 3 года назад

@@rawnuhld i went on and joined it seems cool i like you get perks like discount on water and meaty ribs... and they was very nice to me when i went to the store im mainly ordering stuff online..