Executive members of Costco will gain more flexibility as to when you can shop in store. The retailer recently announced it will extend hours for its executive members, opening doors at 9 a.m. everyday, beginning on June 30.
This gives executive members an extra hour to shop in store, resulting in a calmer shopping experience. On top of this, another perk is you can earn a $10 monthly credit when placing orders exceeding $150 through Instacart or Costco’s “Same-day” service.
And if that isn't enough to sweeten the pot, Costco will extend Saturday hours for all members, closing at 7 p.m.
Executive membership costs and perks
Costco has two membership options. The Gold Star membership is $65 annually. It entitles you to two shopper cards you can use at any warehouse location or for purchases through Costco’s website.
Overall, it's a great way to test out different services. From shopping in store to using Costco Travel, saving at the pump or on prescriptions, it's an affordable way to see how much you'll use the membership.
Then there’s the Executive Membership. It will run you $130 annually, but it comes with a few perks you won’t have with the Gold Star membership. And if you sign up for a limited time, you’ll receive a $40 shop card.
Along with earlier store access, this membership rewards you for the purchases you make with 2% cash back, up to $1,250 annually.
Is the executive membership worth it?
It depends on how much you plan to use Costco’s services. Per CNBC, you would need to spend at least $3,250 per year to recoup the higher membership cost.
However, there are other ways to reach this threshold. Along with in-store and online transactions, Costco Travel purchases also qualify.
Costco Travel is an all-in-one hub, allowing you to book every aspect of your vacations from flights to rental cars to hotels. They also have limited time deals, where you can score a free night at resorts in Hawaii or Cancun.
Along with cost savings related to your vacation, you'll also earn 2% back on every travel-related purchase. Thus, helping you reach that threshold much faster.
The bottom line
Costco is rewarding its executive members with earlier store access at 9 a.m. and cash back incentives when spending more than $150 on Instacart or “Same-day” service.
However, given the price of this membership is double the Gold Star one, you’ll want to determine if you use Costco enough to warrant the extra cost.
