3 signs a Costco membership upgrade is right for you

Costco has two membership levels. You can become a Gold Star member for just $60 per year. Alternatively, you can upgrade to Executive membership for $120 per year. Although both memberships share some common features, including access to warehouse clubs, there are also important differences between the two.

It’s not always easy to decide which is better, but if you’re a current Gold Star member, you should keep an eye out for the following signs that suggest it’s worth upgrading.

1. You spend at least $3,000 a year at Costco.

If you spend at least $3,000 a year at Costco, there’s no question about it. You must upgrade to Executive membership. This membership level comes with a 2% annual reward on eligible Costco purchases. You can earn up to $1,000 in total cash back per year.

Some simple math shows that if you spend at least $3,000 at Costco each year, your 2% reward is $60. This is enough to cover your upgrade to Executive membership, so it’s essentially free. Beyond that, each extra dollar you spend earns you bonus cashback that puts more money in your pocket.

2. You are booking a trip through Costco Travel.

Costco has a great travel service that allows you to get discounted prices on travel around the world. Any Costco member can book a trip, but Executive members will receive the 2% reward mentioned above when they make a reservation.

Not only can you earn bonus cashback, but many vacation packages offer additional special benefits for Executive members. For example, if you book a vacation package at the Hyatt Regency Grand Reserve Puerto Rico and you are a Costco Executive Member, you will receive a $100 resort credit to use toward travel.

Similar upgrades for Executive members are also available in about a dozen other destinations, including packages in the Dominican Republic, Puerto Vallarta, the Cook Islands and more. The additional benefits you get may be more than the extra $60 you pay for the Executive membership.

3. I have insurance.

Costco offers a variety of options to help you get coverage, including pet insurance, auto insurance, and homeowners insurance.

Executive members who receive coverage through Costco are eligible for additional benefits when applying for protection. for example:

• The $15 activation fee is waived when Executive members sign up for Figo Pet Insurance coverage.
• Executive members with auto insurance receive free roadside assistance.
• Insurance buyers with Executive membership are eligible for lifetime renewals.
• Executive members with homeowners insurance may be eligible for home glass repair rebates.
• If you are an Executive member who purchases home insurance through Costco, you may be eligible for home lockout assistance.

These additional benefits can provide significant value and, on their own, are often worth paying the extra $60 to upgrade to Costco’s higher-tier membership plan.

Remember, you can take advantage every Upgrade your membership to enjoy these benefits, as well as other discounts on partner services. There are many reasons to give Executive membership a try.

The good news is, if you’re not satisfied, you can downgrade or cancel your membership at Costco at any time and receive a refund. So if you regret becoming an Executive member, you can always go back down to Gold Star status.

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