Costco became famous by offering deep discounts on products ranging from diapers to dog food. But simply joining the membership-only warehouse store isn't enough to maximize your savings. The savviest shoppers take advantage of additional ways to save money at Costco.
From buying booze in bulk to browsing returned items, here are five effective yet little-known secrets to saving money at this warehouse club.
TAKE ADVANTAGE OF PRICE ADJUSTMENTS
Costco has a price adjustment policy that members can take advantage of to score refunds. If an item you bought online drops in price within 30 days, you can get back the difference. And Jim Wang of Wallet Hacks says the store also has an unwritten policy regarding price drops for in-store purchases. The warehouse manager can choose how to handle in-house price drops, so hang onto your receipts, especially if you buy seasonal items before they are marked down, he said.
Costco does have a liberal return policy, so you could conceivably return an item purchased at regular price and re-purchase it at the sale price. But Wang said that this creates hassle for everyone.
"Costco would much rather offer an adjustment," he said.
SHOP WITHOUT A MEMBERSHIP
You don't necessarily have to pay the $55 standard Gold Star membership fee to shop at Costco and take advantage of its low prices. You just need a friend who is a Costco member and willing to get a Costco Cash Card and load it for you (with your cash, of course).
With these cards, non-members can shop at Costco, and they can even exceed the total value as long as they pay the remaining balance in cash or with an accepted debit card, said consumer and money-saving expert Andrea Woroch.
"This is a good perk for a non-member who is looking for a specific deal on a big-ticket item like a TV bundle, furniture or home appliance," she said.
Non-members might also be able to get low-cost prescription drugs at Costco's pharmacy. If you live in a state that prevents pharmacies from requiring memberships, you can purchase your prescriptions at the pharmacy counter with cash, credit and debit cards or Costco cash cards.
GET LOW-PRICED ALCOHOL WITHOUT A MEMBERSHIP
Costco is a go-to spot for many looking to avoid big markups on alcohol _ especially wine. Its house brand, Kirkland Signature wines, is an especially good value because the bottles are sourced from brand-name wineries. And you don't necessarily have to be a Costco member to get in on the deal.
If your state prohibits the forming of alcohol clubs, you can buy wine, beer or liquor at Costco's dramatic savings without a membership, Woroch said. Most Costco stores where such membership requirements are prohibited offer a separate liquor store with its own entrance.
USE ANY CREDIT CARD AT COSTCO.COM
If you frequently pay with credit cards to rack up points and earn rewards, you might discover that you can't use your favorite rewards card at Costco. The warehouse store, which previously accepted only American Express cards, recently switched to Visa as its card processor, said Wang.
However, you don't have to worry about this issue when you shop at Costco.com, because it accepts most major cards. So, if you want to rack up credit card rewards points at Costco to save money on future purchases, do your shopping on the retailer's site when possible.
LOOK FOR DEALS ON RETURNED ITEMS
Costco's generous return policy means that the store regularly features gently used items at steep discounts. Save money at Costco by searching out deals on returned items.
Costco devotes a few shelves in its stores to items that have been returned but can still be sold, rather than sending them back to the vendor or a liquidator, Wang said. And the markdowns are dramatic. You typically can find these returned items near the automotive, household or sporting goods sections.
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