Costco Membership Review – Top 10 Benefits & Features (2020)

Costco Wholesale Corporation, which is also known as Costco, is an American multinational corporation that operates a chain of membership-only warehouses. 

In this article, let’s take an in-depth and complete look at everything Costco Membership has to offer, to help you decide if the membership is right for you. Now let’s get started. 

Is A Costco Membership Worth It?

Before we get into the actual list, as a Costco consumer below are the few points that I can relate to in terms of quality products and savings overall. 

  • Huge and wide range of branded products available at Costco’s Warehouses, be it from shampoo to electronics. The best part is the huge discounted savings at a very good price.

  • Single Annual membership starts at $60 and covers discounted purchases at – Costco Gas, Pharmacy, Gas Stations, Opticals, Travel, Photo Center, etc. All of these services are as part of Costco subsidiaries, which comes to you built-in along with the primary membership. 

  • Costco’s membership is valid at all its locations worldwide. That’s right. Anywhere you are and you need to go to Costco, the membership covers. You can purchase products and services at any Costco worldwide.

  • Convenient payment options – Including Mastercard debit or business cheque payment types.

  • Shop online for products at costco.ca – Free Shipping included on thousands of items you won’t find at your local warehouse are available for only customers.

  • Access to while-you-shop services – Such as Photo Centre, Tire Centre, Hearing Aid Centre, Optical and Pharmacy services

  • Access to Costco’s exclusive Kirkland Signature Brand – Costco’s created an exclusive range of products that reflect member’s tastes and exceed quality expectations.

  • Conveniently shop for Costco Travel – Costco travel site will help you create an amazing vacation experience. For more details visit CostcoTravel.ca – Costco’s official travel website.

Costco Membership Types

Costco’s Membership is divided into two types: For Individuals and Business Owners

1. Individual Costco Membership

  • Gold Star – $60 CAD Annually

  • Gold Star Executive – $120 CAD Annually

2. Business Membership

  • Individual Business – $60 CAD Annually

  • Business Star Executive – $120 Annually 

All Four Costco Membership types have two things in common

  • Includes a Free Household Card for your spouse

  • Valid at All Costco Locations Worldwide

Also please note that the membership prices mentioned above are pre-tax. You may have to pay more depending on the region you’ll purchase the Costco membership from. 

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Costco Membership

Costco Membership Promo Code

For a limited time only, Costco is offering promo code on its gold and executive membership types. 

If you sign-up for the Costco Executive membership today, you’ll receive a $40 costco.ca online voucher.

Use the PROMO CODE – COSTCO40 to get this offer during check-out. 

Or, If you want to sign-up for the Costco Gold Membership, you’ll get a $20 costco.ca online voucher.

Use the PROMO CODE – COSTCO20 to get this promotional offer during check-out. 

How To Get The Costco Membership Promotion Vouchers? 

  • When paying for your membership, enter the promo code (mentioned above) at checkout.

  • You will receive an email from Costco that will include your membership number. Bring the email to the Membership Counter at any Costco location in Canada to pick up your membership card.

  • You will then receive an email within 1-2 weeks with your Costco.ca online voucher to use towards your next online purchase.

Costco Digital Membership Card 

Did you even know that Costco offers a free digital membership card? Yeah, that’s rite. This will potentially help you from carrying the physical Costco membership card, by just presenting your digital card where and when necessary.

How To Get The Costco Digital Card?

1. First, You need to download and install the Costco Mobile App – Once you’ve installed the app, launch the Costco app and tap on the Membership Card icon

2. Sign In to your Costco membership account with valid credentials – Follow the instructions on the app’s login screen to sign in to the app or if you are new or a first time user click on the create a new account

3. You’ll need to get verified at any of the Costco centres – All you have to do now is to, visit the Membership Counter at your local Costco warehouse or you can even call them at 1-800-463-3783 to get your digital card or account verified

4. You’re all set, just close and re-Launch the Costco Mobile App – Once you’ve verified at the local Costco centre, your Digital Membership Card should appear on the screen. Now, all you have to do is to re-launch the Costco mobile app.

Benefits Of the Costco Mobile App 

You can download and install the Costco Mobile App from the iOS and Android App Stores.

Also, The Costco Mobile App is the easiest and by far the best way to save time and money on the go.

1. COSTCO DIGITAL MEMBERSHIP CARD

You can now use your mobile device to provide proof of Costco membership upon entering the warehouse and again during checkout.

2. COSTCO EXCLUSIVE MOBILE OFFERS

With the Costco Mobile App, you’ll always be the first and have the latest Warehouse Savings right on your device. You can also clip your favourite Costco offers right from a tap on the screen.

3. SHOP ONLINE – COSTCO.CA

You can now see all the details of your nearest local Costco store, including hours of operation and holiday hours, and then navigate straight to the warehouse.

5. COSTCO PHOTOS

You’ll now be able to upload photos straight from your iOS or Android device to the Costco Photo Centre – then you’ll be able to share, format and order prints for pickup.

Costco Membership – Is It Worth Your Money? 

You can find this on the Costco membership signup page – “100% SATISFACTION GUARANTEE. If you are not satisfied with your membership, you’ll get a full refund on your membership fee.” 

Now, Is there anything more that I can say, apart from the fact that, give Costco a visit near your neighbourhood. I’m sure you will enjoy the great services, benefits and the in-store experience. Along with shopping for wholesale prices. 

Like I said before, the benefits and savings are pretty clear. You may not save a ton of cash but here’s the thing – The minimal membership for individuals is $60. And that’s the annual fee. So, you’ll have 12 full months to make the most of it. 

Also, Costco offers a variety of premium services including, Gasoline (where you can easily save a couple of cents compared to outside regular gas), Costco Opticals, Costco travel, Costco Pharmacy, Photo center and many more.  

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Costco Membership

Costco Gold Star Membership

Benefits and Features Costco Gold Star Membership

  • The annual membership fee is $60

  • You’ll get one Additional Spouse card for free

Costco Individual Gold Star Executive

Benefits and Features Of Costco Individual Gold Star Executive

  • The annual membership fee of $120 

  • Includes a FREE Spouse card Included

  • Annual 2% Reward Included

  • Be part of exclusive member-only offers and additional discounts 

  • You’ll Receive Costco Connection magazine and Costco.ca insert by mail

Costco Business Membership

Costco’s Business Membership is only available to owners or operators of businesses who want the benefits of a Costco Business Membership, with the added value of an Executive Membership.

Business Members who wish to purchase items for resale must provide Costco with the appropriate resale information.

Benefits and Features Of Costco Business Membership

  • The annual membership fee of $60

  • Includes a FREE Spouse card

  • Add people to your membership Included

  • Purchase Costco products for resale

 

Costco Membership

What Are The Benefits Of Costco Executive Membership?

Benefits and Features:

  • The annual membership fee of $120

  • Includes a FREE Spouse card Included

  • Annual 2% Reward Included

  • Exclusive offers and additional discounts Included

  • Receive Costco Connection magazine and Costco.ca insert Included

  • Add people to your membership Included

  • Purchase products for resale

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How Do I Sign Up For A New Costco Membership?

Costco is always happy to hear from enthusiastic new customers.
 
Signing up to Costco membership is a simple process.
 
You may sign up for the Costco membership by :
 
1. Visting any Costco Wholesale location. You will receive your membership card immediately and can begin shopping the same day.
 
2. Or Online at Costco.ca
 
1. From the homepage, click on the “Membership” button located in the blue bar at the top of the page.
 
2. Click on the type of Costco membership you are interested in
 
3. Add the membership type to your shopping cart
 
4. Read the Membership Conditions and Regulations, and press “Accept.” You will be asked to proceed through the checkout process to provide and verify your information. If all the information is correct, you may complete your purchase by clicking on “Cart.”
 

Can I Renew My Costco Membership Online?

It’s extremely easy to renew your Costco Membership Online. 

Follow these easy steps to renew your Costco Membership online:
  • Sign in/Create a new account

  • Click on “Membership”

  • Click on “Renew Membership”

  • Provide your membership number and last name

  • Click on “Proceed to Checkout”

Online accounts have to be verified by the primary member before making any changes. In order to be verified, head over to the Membership Counter of your local Costco warehouse and ask to have your online account verified.

Once verified, an email will be sent to you that is valid for only 48 hours after the verification process takes place.

When renewing your membership, all cards on the membership (primary and Spouse cards) will be renewed. You will receive a confirmation email when renewal is complete.

A Spouse refers to either a spouse or a family member 18 years of age or older living at the same address.

What Is The Costco Gold Membership?

Most of the people I know and see, usually opt for the $60 Gold Membership. 

It is the bare minimal membership offered by Costco and its worth every penny you pay for. At least that’s what my experience has been with it. If you really don’t use the membership much or have been visiting Costco much less off-late you may decide on the renewal or giving up your membership after-all. 

But my sincere request is – give it a try at-least. Purchase the Costco membership and visit Costco once or twice and then decide if it’s really worth it for you or not. 

To be frank, Costco has something to offer for everyone and I’m sure you’ll like it there. 

Costco Membership

What Are The Benefits Of Costco Business Executive Membership?

In this section let’s look at all the benefits that Costco Business Executive Membership has to offer: 

Sans’;”>Benefits and Features Of The Costco Business Executive Membership:

1. Exclusive Annual 2% Reward

Annual 2% Reward on most Costco purchases, up to a maximum of $1,000. You must remain an Executive Member to receive the annual 2% Reward.

2. Exclusive offers and additional discounts

Costco Connection magazine and Costco.ca insert by mail

3. FREE Spouse Card 

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How To Qualify For Costco’s Annual 2% Reward?

To upgrade to Executive Membership and get an annual 2% Reward (up to $1,000), stop by the Membership Counter or call customer care at 1-800-463-3783.

The Executive Membership upgrade fee is an additional $60 for Business or Gold Star Members. The upgrade amount will be pro-rated based on the months remaining on your current membership.

At your next renewal, you will be billed a total of $120 (plus applicable taxes) for your Executive Membership.

Costco Executive Membership Annual 2% Cash Back 

Items that fall into the following categories are not eligible for the 2% Reward.

Costcos Annual 2% reward is applicable under all provinces in Canada.

Below is the complete list of all the applicable products to get the 2% cash back reward from Costco. 

All prescription drugs, tobacco products (including cigarette paper, lighters, matches and tubes), food court items, bottle deposits and refunds, taxes and levies, all Costco Services, eye examinations, tire disposal fees (where applicable), tire mounting and balancing, and stud installation fees, gift certificates and Costco Cash electronic gift cards, membership fees, oil disposal fees (where applicable), home delivery charges, administration fees, gasoline, charitable donations, third party insurance payments, postage stamps, environmental fees, deposits or levies, other items, products, and services specified as exclusions from time to time

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How Much Do You Have To Spend At Costco To Break Even?

Costco’s Executive Membership has a 2% annual cash back reward. What that means is – Along with the discounted price and bulk savings you’ll also be eligible to get 2% cash back just by opting for the executive membership. 

Let’s dive straight to the point here on breaking even – 

Point Considered 

1. Costco Membership Type – Executive Membership 

2. The first column is Qualifying Purchases (Monthly), 2nd column is Qualifying Purchases (Annual),  3rd and the final column is Costco’s Annual Reward at 2%.  

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How To Buy From Costco Online? 

Yes m you can, Costco’s online shopping website is costco.ca. 

Now that we know everything about the different Costco Memberships types and what they have to offer; let’s now talk a bit about Costco’s online platform.

You’ll need to be a Costco member to buy stuff here. 

Once you do get the Costco membership, there’s also free 2-day shipping on eligible purchases. 

Are Costco Travel Deals Good?

You can visit the Costco Travel’s website by clicking here.

Benefits And Features Of Costco Travel

  • Exclusively for Costco members

  • The value you want with the quality you expect

  • No surprises when you’re ready to pay

  • Additional advantages of Costco membership

I’ll be writing a separate article with use cases on the Costco Travel website, pricing and other useful stuff from an end-user perspective.  So do look out for that. 

Other Travel Items you’ll find at Costco.ca travel website:

Lots of quality options on – 

  • Luggage

  • Sunglasses 

  • Passport Photos

Also Read – Oaken Financial Review – No Fee Online Canadian Bank

Is Costco A Top Tier Gasoline? Why Is Gas So Cheap At Costco?

Costco’s Gas stations have the Regular unleaded (87 octane), Premium unleaded (91 octane), and Diesel (at select locations only) options.

What really sets Costco Gas apart is:

1. Costco only sells Top Tier fuel at its gas stations. Read more about this below: 

  1. Costco uses fuel filters to catch particles or debris larger than 10 microns in diameter. For comparison, the average human hair is sixty microns thick.

  2. Their attendants check the nozzle flow rate every week to assure that filters are fresh. When the flow rate falls below 32 litres per minute, they change the filter.

  3. Costco uses ethanol-compatible filters designed to catch sediment, water or phase-separated ethanol and water mixtures for locations that sell gasoline with ethanol.

  4. Costco’s electronic sensors continuously monitor our underground storage tanks for water.

2. You can check the fuel price in your location, and usually 99% of the time, Costco gas is the lowest price in your neighbourhood or community. You’ll end saving at-least a couple of cents on high quality graded fuel. 

3. Costco’s approach to gasoline is the same as inside the warehouse: high volume and low prices. The concept is clear – One-way traffic makes it easier to get in and out of our stations quickly. 

4. Extra-long hoses allow fuelling from either side of the vehicle, so there is no concern with which lane to choose.

5. Both grades of gasoline sold at Costco meet and exceed Top Tier requirements. The owner’s manuals provided by the following manufacturers recommend using Top Tier gasoline to maintain optimal engine performance. and efficiency

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Do Costco Members Get Free Eye Exam?

Costco Optical accepts current prescriptions from licensed doctors, optometrists or ophthalmologists.

You do not need to have an eye exam done to purchase at Costco to purchase eyewear.

Are Costco Glasses Cheaper?

1. Great variety of quality choices at discounted prices. Well worth the money. 

2. Costco Optical has been named the No.1 place to buy glasses in the USA, according to a Consumer Reports survey of 91,000 respondents

3. You’ll get discounts on the second pair of eyeglasses at Costco

4. Savings on Contact Lenses – Minimum $20 OFF when you purchase four boxes of contact lenses (Valid till Dec 2019)

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What Is The Cost Of Dispensing Fee At Costco Pharmacy?

First of all, register with Costco Pharmacy by clicking on “Register Now“.

Once you are registered to Costco Pharmacy online, you can choose one of three options to begin your prescription order with the Costco Pharmacy Prescription by Mail.

You can take advantage of Costco’s prescription mail order service, which will allow you to fill your new and refill prescriptions online from the convenience of your home, 24 hours a day.

Your prescriptions are then delivered right to your door, through free expedited shipping, so that you get your medications in a timely, convenient and affordable manner. There’s no dispensing fee at Costco Pharmacy. It’s FREE shipping!

If you have a new prescription, have your doctor fax or send it in to the online mail-order pharmacy.

If your prescriptions are at another pharmacy, simply provide Costco Pharmacy with the pharmacy name and contact information and the prescription details and Costco will transfer them to their mail order pharmacy (including another Costco Pharmacy store).

Once your prescriptions are at your desired Costco’s mail order pharmacy location, refilling them is simple. You need to login to your account and request to re-order your prescriptions.

Once you’ve confirmed your order, Costco will ship your prescriptions from their mail-order pharmacy to the address you had chosen within 2-5 business days.

You will also be able to track your orders online!

With every order online, you will receive a tracking number that will allow you to track your delivery.

Also Read – Top 7 Free Chequing Accounts In Canada (2020)

What Is A Costco Business Center?

Costco’s Business Centre has the same great quality and value as your local Costco, but with unique differences designed to fit the needs of your business.

You’ll find thousands of products which are not available at the traditional warehouse locations

One good thing to note here is – If you place your online order by 3 pm, Monday through Friday, and receive your delivery the next business day.

Now then, the best part is you don’t have to be a Costco Business Member to enjoy the benefits of Costco Business Centre.

Whether you want to set up a home office, enjoy next-day delivery to your business or stock up on groceries and snacks for your growing family, Costco Business Centre gives you new ways to get even more value from your Costco membership.

What Are The Benefits Of A Costco Mastercard?

The Capital One Mastercard is exclusively for Costco members. I’ve mentioned the benefits and features of this credit card below.

Sans’;”>Benefits And Features Of The Capital One Mastercard

  • You will earn cash back virtually everywhere – not just at Costco locations

  • Also, You will earn 3% cash back on restaurant purchases, 2% on gas purchases, 0.5% on the first $3,000 you spend annually on all other purchases, and 1% after that

  • The best part is that there is no annual fee

  • Doubles as your Costco membership card 

Everyday Benefits:

  • Price Protection Service

  • Purchase Assurance

  • Extended Warranty

Travel Benefits:

  • Common Carrier Travel Accident Insurance

  • Car Rental Collision/Loss Damage Waiver

  • Baggage Delay

  • Travel Assistance

Mastercard Benefits:

  • Mastercard Global Service

  • Zero Liability

Can You Pay With A Mastercard At Costco?

Yes, you can. Costco accepts the Capital one Mastercard. And the best part is, you don’t even need to carry the Costco Membership card, the Capital One Mastercard does the job for you by doubling down

You must be a Costco Member to apply for the Capital One Mastercard.  

The advantage you’ll get apart from the benefits listed above is, you don’t have to carry both the Costco Membership card and the credit card along with you while shopping at Costco. You can just tap the Capital One Mastercard for membership and payment. 

Also Read – Top 9 Reasons You Should Transfer Money Using Remitly

Conclusion 

Costco is one of the premium wholesale stores in North American with lots of presence in Canadian soil. 

With that said, for individual and small families you’ll be good having the Gold Membership at $60. 

For $60, you’ll end up with a ton of savings on everyday shopping – be it for grocery, electronics, gas and so on and so forth. Also, do check out their exclusive online portal for more clarity on the discounts and product range.

Another important thing to note here is, Costco has only genuine quality products on its shelves, you may rest assured of the quality and pricing here. 

You’ll also be eligible for online-only exclusive shopping and discounts for Costco Members with the delivery option which is really good.

Finally, talking about the Business Executive Membership – yes it’s really good for business re-sales and combined with the Capital One Credit Card, it can seriously elevate your earnings and cashback. 

Please let me know your thoughts and comments below. 

Top 10 Latest and Popular Posts

Costco Membership

4.9

Value For Money

4.9/5

Benefits

4.9/5

Rewards

4.9/5

Pros

  • Affordable membership costs with huge savings
  • Cheaper gasoline prices with great quality standards
  • Huge Savings from buying items in bulk

Cons

  • You need to be prepared to buy the items in bulk
  • Usually huge line-ups and waiting times to fill gas
  • Checkout line-up and wait times for gas

Sagar Sridhar

Sagar Sridhar Is a Personal Finance Blogger from Toronto, Canada.He is a Computer Science Engineer by profession and works in IT Industry. What started as a hobby, quickly turned into serious blogging and income.In this blog, Sagar passionately writes articles about Personal Finance, DIY Investing, Retirement, Stocks & ETFs, Frugal Living and much more. Do visit about page to know more about him.If you would like to get in touch, you can do so by emailing him at [email protected] and he'll get back to you at the earliest.

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