Costco Membership Review – Is It Worth Your Money?

Costco Wholesale Corporation, which is also known as Costco, is an American multinational corporation that operates a chain of membership-only warehouses. Honestly, if you are serious about getting a Costco membership – it all depends on how much you expect to spend at the store or online. You’ll have to spend about $3,500/yr to absorb the $60 individual Costco membership cost and if you are looking at getting the Costco business membership then get ready to at least spend $6,000 to absorb the full $120 cost.

But anything over $3,500 spent will be like getting money off of your membership. If you are not sure about which membership to pick, I would strongly suggest getting the $120 business membership one, coz you always can “refund” the extra $60 if it wasn’t worth it for you in the first place.

In this article, let’s take an in-depth look at everything Costco Membership has to offer, types of membership offered, Costco Online, Costco Travel, Eye Care and Pharmacy, and finally, conclude if its membership is right for your household or personal needs. At the end of the day, you need to be satisfied with the purchase or memberships you have. Now let’s get started. 

About Costco Membership 

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 neighborhood? I’m sure you will enjoy the great services, benefits, and 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. To be frank, I shop at Costco almost every other week.

Here’s the list of things I always end up buying at Costco:

• Good Quality energy drinks (it’s way cheaper compared to Metro or Loblaws)
• Excellent Quality Toilet Paper (Quilted Northern)
• Lots of Bottled Water (Love it for the price)
• Must and sure purchase – Laundry Detergent 
• Dish Detergent
• Zip Loc Freezer bags (Excellent quality again to store the frozen foods)
• Trash Bags (Bulk quality for less price)
• Nova Salmon (Excellent quality)
• Cookies/Biscuits (Good Quality)
• Spices 
• Cooking Oil – Olive/Sunflower Oil (Bulk Deals)
• Kirkland Cheese Pizzas (Great Price and Kids love em)
• Parmigiano Reggiano
• Salt/Pepper (should I even mention this)
• Protein Bars (Great Quality again)
• Workout Fleece (Must buy at Costco)
• Bananas and Apples

All of the above-mentioned are definitely cheaper than what you’d find elsewhere in your neighborhood. You don’t have to take my word for here but do look around, if you find the same quality for a cheaper price, then go for it. 

Couple of things that I don’t recommend from Costco that I’ve bought:

• Kirkland Bourbon (Personally did not like the taste of it, not sure if it was only for me/bad day that I got it).

• Kirkland pre-sliced Turkey deli cold cuts (yuk, they always tasted bad, tried getting it twice).

• Costco’s bagels if you don’t freeze bagels (not yummy for sure, ok quality)

• Goodyear wipers for your cars, they are terrible and should not be sold whatsoever. 

• Costco’s Dresses and T-shirts, the sizes are very big and box and not all that great

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. 

• A huge and wide range of branded products are 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

First of all, If you ask me which Costco Membership Type (whether the Gold Star or the executive) is right for you, it all depends on your use and how much you’ll end up spending at Costco. 

You need to spend around $3,000 per year to absorb the $60 cost (Gold Star membership) and $6,000 to absorb the $120 annual membership cost (executive). 

For the Gold Star Costco membership, anything over $3,000 spent will be like getting money off of your membership. 

Honestly speaking, it all depends on how much you expect to spend.

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. 

If you are not aware of your expected Costco spending habits I’ll suggest you get the $120 membership to start with. Then depending on the cash back you’ll make you can always switch over if required. 

What Is The Costco Digital Membership Card?

A Costco Digital Membership Card is a feature offered by Costco that allows members to access their membership information and shop at Costco using their mobile device, instead of a physical membership card. To access the digital card, members need to download the Costco app on their mobile devices and sign in to their accounts. The digital card can be used in place of a physical card when checking in at the entrance of the warehouse and also used to identify themselves while making purchases in-store or online.

Members can also add multiple cards to their accounts and share them with other family members, so they can also use the digital card while shopping at Costco. Additionally, Costco’s digital card can also be used to access certain Costco services such as Costco gas stations, pharmacies, and food courts.

One advantage of using the digital card is that it eliminates the need to carry a physical card with you, and also if your physical card is lost or stolen, you can still access your membership by using the digital card. It is also convenient for members who prefer to shop online, as it allows them to easily access their membership information and shop from their mobile devices.

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 centers – 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 center, 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 

Costco Gold Membership

The Costco Gold Star Membership is the most basic level of membership offered by Costco, It is designed for individuals or households that want to shop at Costco’s warehouses and access the discounts that Costco offers.

Some of the benefits of a Costco Gold Star Membership include:

1. Access to Costco warehouses: Gold Star Members have access to all Costco warehouses and can shop in-store or online.

2. Exclusive discounts and offers: Gold Star Members receive discounts on a wide range of products, including groceries, electronics, appliances, and home goods.

3. Pharmacy, Optical, and Hearing Aid Centers: Gold Star Members have access to Costco’s Pharmacy, Optical, and Hearing Aid Centers and can use the services provided.

4. Business Delivery: Gold Star Members have access to Costco’s Business Delivery service, which allows them to place orders and have them delivered directly to their home or business.

5. Online Ordering and Shopping: Gold Star Members can also shop online and order items to be delivered to their homes or businesses.

6. Add-on Card: Gold Star Members can purchase additional cards for their household member.

The Costco Gold Star Membership costs $60 per year and is a good option for individuals and households that plan to shop at Costco regularly, and who want to take advantage of the discounts and deals that Costco offers. The membership includes a complimentary household card, which can be used by an additional person living at the same address.

Costco Business Membership

Costco Business Membership is a membership option offered by Costco that is designed for businesses, including home-based businesses and organizations such as schools, churches, and non-profit organizations. It allows these entities to purchase products in bulk for resale or for use in their operations.

Some of the main benefits of Costco Business Membership include:

1. Bulk buying options: Costco Business Members have access to a wide range of products, including groceries, electronics, appliances, and office supplies, available in bulk quantities at discounted prices.

2. Special pricing: Business Members may receive special pricing on select items, such as bulk food items, office supplies, and cleaning products.

3. Online Ordering: Business members have access to Costco’s online ordering and delivery service, which allows them to place orders and have them delivered directly to their business.

4. Pharmacy, Optical and Hearing Aid Centers: Costco Business Membership allows access to Costco’s pharmacy, optical, and hearing aid centers, and also to use their services.

5. Flexibility: Business Memberships can be tailored to meet the specific needs of the business, with options for different levels of membership, including Gold Star and Executive.

6. Multiple Card: Business Members can order additional cards for employees, and can assign different levels of purchasing authority to them.

7. Exclusion: Some of the items that are not available for purchase with a Business Membership include tobacco products, liquor, and gas.

The cost of a Business Membership is $60 per year, and also Business member can purchase additional card for their employees for $60/yr each. Costco does also require a valid business license to sign up for a business membership and to make certain purchases.

Costco’s Executive Membership

Costco Executive Membership is a higher-tier membership option offered by Costco that includes additional benefits and discounts. Some of the main benefits of Costco Executive Membership include:

1. 2% Reward on Qualifying Purchases: Executive Members earn a 2% annual reward on most Costco purchases, up to a maximum reward of $750 per year. This reward can be used toward purchases made at Costco warehouses or on Costco.com.

2. Exclusive Coupons: Executive Members receive exclusive coupons and offers throughout the year. These offers can include discounts on a wide range of products, including electronics, appliances, and food items.

3. Early Shopping Hours: Executive Members are given early access to Costco warehouses, allowing them to shop before the general public.

4. Free Technical Support: Executive Members can receive free technical support for electronics and appliances purchased at Costco.

5. Concierge Service: Executive Members have access to Costco’s Concierge Service, which provides technical support and assistance with product set-up and installation.

6. Executive Member-only Savings: Executive Members have access to special savings throughout the warehouse on select merchandise.

7. Online Specials: Executive Members receive exclusive online offers and discounts, and access to certain merchandise available only online.

8. Auto Renewal: Executive Membership automatically renews each year to ensure you don’t lose the benefit.

It’s worth mentioning that Executive Membership costs $120 per year, which is $60 more than a Gold Star Membership (Regular membership). The 2% reward benefit should cover the difference if you are a regular shopper.

Benefits Of Costco Business Executive Membership

Costco Business Executive Membership is a higher-tier membership option offered by Costco specifically designed for businesses. It provides the same benefits as a Gold Star or regular Executive Membership, with additional benefits and discounts tailored to the specific needs of businesses.

Some of the benefits of Costco Business Executive Membership include:

1. 2% Reward on Qualifying Purchases: Executive Members earn a 2% annual reward on most Costco purchases, up to a maximum reward of $1,000 per year. This reward can be used toward purchases made at Costco warehouses or on Costco.com.

2. Exclusive Coupons: Executive Members receive exclusive coupons and offers throughout the year, including discounts on a wide range of products, such as groceries, electronics, appliances and office supplies.

3. Early Shopping Hours: Executive Members are given early access to Costco warehouses, allowing them to shop before the general public.

4. Free Technical Support: Executive Members can receive free technical support for electronics and appliances purchased at Costco.

5. Concierge Service: Executive Members have access to Costco’s Concierge Service, which provides technical support and assistance with product set-up and installation.

6. Executive Member-only Savings: Executive Members have access to special savings throughout the warehouse on select merchandise.

7. Online Specials: Executive Members receive exclusive online offers and discounts, and access to certain merchandise available only online.

8. Flexibility: Business Executive Memberships can be tailored to meet the specific needs of the business, with options for different levels of membership.

9. Multiple Card: Business Executive Members can order additional cards for employees and can assign different levels of purchasing authority to them.

10. Auto Renewal: Business Executive Membership automatically renews each year to ensure you don’t lose the benefit.

It’s worth noting that the Costco Business Executive Membership costs $120 per year, which is $60 more than a regular Business Membership. The 2% reward benefit should cover the difference if you are a regular shopper. And As with a regular Business Membership, a valid business license is required to sign up and make certain purchases.

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’s Annual 2% Cash Back 

Items that fall into the following categories are not eligible for the 2% Reward. Costco’s Annual 2% reward is applicable in all provinces in Canada. Below is the complete list of all the applicable products to get the 2% cashback reward from Costco. 

All prescription drugs, tobacco products (including cigarette paper, lighters, matches, and tubes), food court items, bottle deposits, 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.

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

Costco’s Executive Membership has a 2% annual cashback reward. What that means is that 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 For Break Even At Costco

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%.  

ESTIMATE YOUR COSTCO 2% REWARD

MONTHLY PURCHASE AMOUNT	ANNUAL PURCHASE AMOUNT	COSTCO ANNUAL REWARD AT 2%
$250	$3,000	$60
$400	$4,800	$96
$600	$7,200	$144
$800	$9,600	$192
$1,000	$12,000	$240
$2,100	$25,200	$504
$3,125	$37,500	$750
$4,167	$50,000	$1,000 (maximum limit)

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 membership 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 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

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

Costco’s Gas stations have 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: 

• 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.

• 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.

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

• 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

Do Costco Members Get Free Eye Exams?

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)

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 it or send it 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 into 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.

Costco Rental Car In Canada 

Wondering if you can rent a Car with Costco In Canada? Of course, you can. I’ll tell you how. It’s pretty simple and straightforward. 

First, head over to the Costco Car Rental Page or click the link here. 

Once you land on the car rental page for the first time, you’ll have chosen the province you are from or traveling to – “ON” in my case. Then, 

1. Choose The Car Pick Up and Drop Off Location 

2. Pick up date and Pick Up Time 

3. Drop-Off Date and Drop-Off Time 

That’s it you are done. Click on “Find My Car” to see the rental car options. 

For ease of explanation I have selected the below entries: 

Here’s How The Costco Car Rental Works In Canada – 

Once you select the dates and the location fields and hit the find my car button, you’ll be loaded with several rental car options. 

What I absolutely love about the Costco Rental Car algorithm is that it shows you all the list of rental car options along with prices – low to high. 

You have car options from Economy, Compact, Luxury to a Full-size Van. Isn’t that great!

The best part of the Costco Rental Car is that – Along with showing you the complete list of cars – Costco automatically picks and expands the rental car with the lowest price for the number of days you have chosen. See the screenshot below: 

Now isn’t that sweet of a deal! 

Along with expanding the lowest rental car by price option, the system also shows you the car you’ll get for the price, car size, and the rental company details. 

Next, select the car from the list and click on “Next”. Then, you’ll be loaded with additional options or services you might need along with the rental car, like the car seat, Navigation system, etc along with the prices for each. 

To sum it up, Costco’s car rental unit in Canada is a breeze to use and really great once you start using the system. I personally use it and it’s great.  

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 that 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.

Benefits And Features Of The Capital One Mastercard

Costco is one of the premium wholesale stores in North American with lots of presence on 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 groceries, 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, that 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. Thanks for reading. Please let me know your thoughts and comments below.