Costco will increase the price of its memberships starting September 1. Find out what the new amounts will be.
Costco is preparing to increase the price of its memberships after six years without changes. The club-type chain store company announced that as of September 1 of this year, the amounts will go up.
Currently, Costco has three types of memberships: the Gold Star Membership, with an annual fee of $60 per year; the Business Membership, also $60 per year; and the Executive Membership, which costs $120.
New Costco membership prices: amounts and when they take effect
Effective September 1, 2024, annual rates will increase by $5 for Gold Star (individual) and Business Memberships, as well as for additional Business Memberships. The Business Membership is exclusively for business owners to purchase products for commercial, personal and resale use.
With this increase, as of September 1, all Gold Star, Business and additional Business card members will pay an annual fee of $65 in the United States and Canada.
On the other hand, effective September 1, annual fees for Executive Memberships will increase from $120 to $130 ($65 Prime Membership, plus the upgrade to $65 Executive Membership). In addition, benefits for these members will be increased.
The Executive Membership offers greater savings, as well as a 2% annual reward on qualifying purchases. To get it, you must first have a Gold Star Membership ($65) and then upgrade your account (plus $65). Those with an Executive Membership will see a higher maximum annual reward, increasing from $1,000 to $1,250.