Confirmed: Costco Is Raising Its Membership Prices in June

It's not by much though, so does this change your shopping at the warehouse store?
Published
Julie Ramhold
BY:
Senior Staff Writer/Consumer Analyst
warehouse store

Recently, we speculated that since Costco raised membership prices overseas, we could soon expect the same here. It hasn't changed rates since 2011, so it was highly expected they would climb soon.

Now it's official: the big-box store is increasing rates later this year in the US and Canada, although not by very much.

You'll Pay More If You Renew in June

If you're renewing your membership in June or later of this year, you can expect to pay the higher rate. The basic memberships — Gold Star and Business — will increase from $55 to $60 per year. The Executive memberships, which cost more but also offer more perks, will increase from $110 to $120 per year.

Just like the rate hike in 2011, the basic Costco memberships will increase by $5 in June while the executive membership will increase by $10.

The basic tier doesn't have any membership rewards (beyond the big-box savings), but the Executive tier offers a 2% reward on all Costco purchases, in addition to other benefits. The store is also raising its maximum annual reward for those purchases from $750 to $1,000.

Costco Was Due for a Rate Increase

Typically, Costco raises rates every five to six years, which means this change isn't a surprise. Many analysts expected the move, although some questioned whether it would be put into place this year since the big-box store just switched from American Express to Visa last year.

However, the store is pretty consistent in fee increases. When it hiked rates in 2011, basic memberships increased by $5, and executive rates increased by $10.

Readers, will you keep your Costco membership? Or is the increase not worth it this time? Sound off in the comments below!

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Julie Ramhold
Senior Staff Writer/Consumer Analyst

Julie's work has been featured on CNBC, GoBankingRates, Kiplinger, Marketwatch, Money, The New York Times, Real Simple, US News, WaPo, WSJ, Yahoo!, and more. She's extolled the virtues of DealNews in interviews with Cheddar TV, GMA, various podcasts, and affiliates across the United States, plus one in Canada.
DealNews may be compensated by companies mentioned in this article. Please note that, although prices sometimes fluctuate or expire unexpectedly, all products and deals mentioned in this feature were available at the lowest total price we could find at the time of publication (unless otherwise specified).

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5 comments
harksaw
My Costco is always completely slammed, hopefully this will clear out the riff-raff.
March 9, 2017
whiz
I am seriously considering not renewing this year. I seem to be buying less there each year and more at Aldi, Walmart and Kroger where the packaged quantity is better for me. They are a great place to get high dollar items but I do not need anything now or the foreseeable future.
March 6, 2017
BBlacklow
We do a lot of family food shopping there... for approximately a buck a month more, it's still easily worth it.
March 6, 2017
DeletedUser169775
It appears the guy shopping in the picture is at an Ikea and not a Costco?
March 6, 2017
SpaceCadet
It may not be worth it. I use Costco mainly for gas, but lately Costco gas is only 2 cents cheaper than Arco. The advantage is I can use credit card at Costco gas and I can't at Arco. My rebate was barely covered the renewal this year, so with the rate increases, it will definitely won't.
March 6, 2017